M&T Bank $150 Checking Bonus – Available Online (QD) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]

Reposting because the deal has been extended and it’s available in new states as well.

Offer at a glance

  • Maximum bonus amount: $150
  • Availability: Limited to the following states:  AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV
  • Direct deposit required: Yes, $100
  • Additional requirements: None
  • Hard/soft pull: Soft
  • Credit card funding: None
  • Monthly fees: Waive-able
  • Early account termination fee: $50 180-days
  • Expiration date: March 31st, 2016 June 30th, 2016 September 30th, 2016 December 31st, 2016 February 28th, 2017 June 30, 2017 September 30th, 2017 October 30th, 2017

The Offer

Direct link to offer, when you e-mail the code it will show as QC when you open from that page it shows QD

  • Open any personal checking account with M&T, and receive a $150 cash bonus when you set up a qualifying direct deposit of $100 or more.

 

 

The Fine Print

  • Valid until March 31st, 2016 June 30th, 2016 February 28th, 2017
  • Open account online or in branch
  • Direct deposit must be received within 90 days of account opening
  • Qualifying direct deposits include but are not limited to electronic deposits such as payroll or social security and do not include electronic money transfers or credits such as account-to-account transfers or those made through internet payment services
  • Bonus will post to the account within 90 days of meeting the direct deposit requirement
  • Limited to one bonus per customer
  • Offer may vary by region and product
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

The bonus is available on any personal checking account, including: EZChoice Checking, MyChoice Checking, MyChoice Plus Checking, MyChoice Premium Checking, Classic Checking, Basic Banking. Let’s look at the easiest options for keeping fee free.

[Note that M&T Bank is one of the few banks that doesn’t give you a grace period, the requirements mentioned below must be completed your first month to keep it fee-free.]

EZChoice Checking

This account has a monthly fee of $9.95, soon changing to $6.95.

  • Monthly fee is waived by making just ONE transaction such as a deposit, withdrawal, or debit purchase.

Basic Banking

This account has a non-waivable $3 monthly fee.

Early Account Termination Fee

There is an early close-out fee of $10 according to these terms & conditions if you cancel within 180 days of signing up. Update: Looks to be $50 now.

Our Verdict

Quite a good deal if you in a participating area. In the past, M&T Bank has offered similar $150 sign up bonuses and sometimes lower bonuses of $75-$100. They’ve also required us to go in-branch, yet this time, they explicitly state it can be done online.

Here is how to go about doing this promotion:

  • Open an EZChoice checking account and automate a $1 ACH transfer into the M&T account from my regular checking account, OR
  • Open a MyChoice checking account and park $500 there for 6-months
  • Do $100 direct deposit using payroll or try ACH transfer and hope that works as it has in the past
  • Wait for the bonus to post, 90-days after direct deposit
  • Wait 180 days from account opening date to avoid early account termination fee
  • Close account (can be done over the phone or by mail)

We’ll add this bonus to our dedicated page and the state-specific part of our best checking sign up page. It’s also possible to churn this bonus according to this comment. Here are the other current bonuses:
    Chuck
  • On July 5, 2016, 07:00

View Comments (401)

  • Would it be better to wait until just before the 5/27 deadline to open/fund the account since the bonus requirement only requires holding 10k in June and July? One could fund the account now with $2500 to keep it free and then up the balance to $10k at end of May to ensure the offer isn't pulled.
    Any opinions? Thx.

    FYI.. looks like offer is finally good in NYC again.

  • Work DD posted 8/16
    Bonus posted 8/19

    Will leave 2500 and close in 180 days

    Thanks probably fastest bonus posted

  • DP: In-state zip (mahwah, nj) used on promo link, out of state zip on application. 'denied due to information provided'. referred to in branch.

  • I had an M&T account for which I received a $150 bonus, never opened a second one. I closed that account and tried applying online after waiting for a month, but received error on the online app. It told me 'can't process your app through the online channel'. Should I try to go in branch with a QC email promo and try? I know about the general advice of not visiting the branch, ever. However, I'm not a current customer though I was before. I'm in a targeted area btw, with lots of branches around me.

    • Did you pay early termination fee of $50?
      you can try different browser and apply again, before also clear your cache and cookies.
      Did you tried to get email bonus - you typed your zip code and it generated the coupon for you?
      They just killed my zipcode, I'm in targeted state, I have branches near me...... Brooklyn, NY
      "This offer is not available in your region."
      Now the offers online - for specific zipcodes, you can try to play around with zipcodes.... I doubt it will help if you won't get the bonus in your dispute. Because when online (email) coupon will be generated it will have zipcode on it.....

      • I closed my account the day after the sixth month's statement so no question of ETF. Using different browsers or clearing cookies didn't help. And yes it emails me a coupon on entering my email and zip.

          • Successfully opened a second account with emailed code roughly a month after closing my first account.

            11/16: Account opened with $50 and Discover CC bill of $50 payed same night
            11/18: Initiated $100 Discover cashback bonus redemption
            11/22: $100 cashback and $150 bonus posts together

            So, it seems M&T has no minimum churning period, at all.

  • Applied with Oklahoma Zip Code 74133 - Received the offer not available - went to "View all checking account options" applied promo code QC, completed application
    EZChoice Checking opened on 9.10.17
    Initial Setup $25 from Personal checking
    Used Etrade Brokerage account for Direct Deposit of $115.00 - 9.19.17
    Bonus posted 150 - 9.19.17

    Going to See if any limit to household accounts
    Very Easy so far

  • Looks like I'm a victim of M&T closing accounts.

    Was finally able to open 2nd QD and QC accounts on 9/22. Went through same process as usual with 4 other codes throughout the year.

    Funded with $25 each, both accounts showed up online on 9/25. Initiated trial deposits from Schwab on same day. Logged in this morning to verify amounts and realized the 2 accounts are no longer listed. Checked my Northpointe bank where the opening funding came from and saw reversals for each.

    :(

    The gravy train is officially over.

    In NV as an FYI. 4 current accounts (QC, QD, QI, QL)

  • BEWARE of M&T rejecting your ACH. - Some banks are VERY VERY sensitive to the returned ACH.

    HomeBank (formerly Bank of New Orleans) Force Closed my account because *it is in the best interest of bank to no longer serve me*, a customer for over 5 years and never overdrawn account or did anything to violate their policy.

    They would not talk to me, they just said they are protecting the bank ( from me ? !) .
    I only assumed because the ACH bounced back from M&T.
    I had to get as far up as Vise President of the bank, and she finally admitted that because my account got *frozen* somewhere(M&T) - they choose not to do business with me;
    It was my MAIN account, very inconvenient, but there is nothing I can do , they choose NEVER to do business with me... because of ONE returned ACH by M&T.

    ah, and I still have 4 active M&T's , not that they cared to hear that.

    • Hum. Sorry about that. I use Alliant for my "hub" account-- not my main bank. Recently, I've been thinking of moving to use them for my regular banking (1.16% savings and 0.65% checking, no hoops, ain't bad). But your experience makes me think maybe I shouldn't mix my churning bank with my everyday bank!

  • My friend tried to get second QD. He only had 2 bonuses: QD, QC

    "Thank you for applying for an M&T Bank account. We are in the process of verifying the information you have provided.
    You will be contacted by telephone or e-mail within the next three (3) business days.
    Please retain the following confirmation number for your records: **********
    Thank you for your patience and for choosing M&T."

    • I received the same when opening the first QC for my spouse. Today I received a letter and they want her to fax in her SS card and a utility bill. The utility bills are solely in my name, I am not sure how they'll take that.

      Was your friend able to open the account?

        • I wasn't very confident, but thought it was worth a shot and finished opening the account. Barclays "DD" and the $150 posted. I was late on the uptake so it's nice to eek something out of the M&T gravy train. .

  • DP: We are unable to process your application by online channel blah blah...
    I only have one M&T account (opened in branch about 5 months back, got the bonus) and was trying to apply online for the first time. I have an M&T branch in around 200 yards from my home. Go figure! Never even got to any security question!

  • Poking the bear one last time:

    Opened account on promo QD late night/early AM. Next morning, account appeared online. Immediately funded $25 using funds transfer from another M&T account. (thinking that might be the way to force them to not close the account)

    - Initiated a ACH from an account that doesn't require the trial deposits (i.e. Navy Federal/Santander) that same day.

    - Next day, got a message from the "other bank" saying the ACH was rejected due to invalid account number. (Now I am questioning if M&T shut it down already, or was I just being too quick)

    Account is still accessible online and in app.

    So, decided I am going to make it more of a hassle for them to close the account. I initiated a bill pay transaction from the M&T account of a few bucks. Submitted signature card via fax tonight as well.

    Multiple accounts - However, I do not have a current "QD" promo account. My QD it was closed last month by me.

    • Hi Gadget,

      How did you avoid Discover from closing your credit card accounts?

      Were you able to reopen your Discover checking and savings accounts?

      • I didn't avoid getting my (1) Discover card closed. They did it silently, then sent me a letter a week or two later. Never abused any of their policies and they dumped me like a sack of dirty underwear. 800 FICO, never once missed a payment, didn't churn or even come close to maxing the 5% reward categories, I don't MS, & had been a card member for 4 years. Shows on credit report as comment "Account closed by credit grantor", which thankfully is not considered derogatory.

        When I got notification of the bank account closings, I did call and ask questions. I was told I could re-open my account(s) at any time, but I would fall under the new account rules in place at that time.

        Because I don't believe they had a good reason to close them the first time, why would I subject myself to more torture? They wouldn't tell me why, other than it was a business decision.

        I am considering doing the AAA savings bonus, however, the bulk of my liquid funds are tied up elsewhere until late November, which is beyond the deadline for the AAA. So, if they extend that promo, I might try. I am thinking it won't go well, but I have trouble turning down a good deal.

        • Thanks for the heads-up. Sounds like some banks are sensitive to returned ACHs.

          Any other DPs on banks closing down accounts after returned ACHs?

          • I agree. Not for me. Someone just posted on the DoC "Hub account" page that HomeBank shut down their account due to rejected M&T ACH's. It's best not to poop where you sleep, so I usually keep my brick and mortar checking account free of all the ACH's. That was the job of Discover before, and now I switched to a credit union. One that I could less if I get bumped out of. I also spread the activity across more accounts, esp. ones that I am just waiting on the 6 months to pass to beat the EATF. It's hard to find free outbound transfers on a lot of them tho...

    • Unable to transfer funds within M&T login to/from this latest account now. Gives an error, saying I need to call. So now my $25 funding money is stuck there. I cancelled the out-going bill pay. I don't want to take a chance on a bounced payment when they liquidate the account. I assume they are going to transfer the balance amount back to the M&T account it came from, or sending me a check. Who knows.

      • POOF.... account disappeared. Missing my $25 deposit that I slid in from an existing M&T account. No e-mail or letter yet as to why. Also, one of two ACH deposits I sent to the account hasn't been returned to the originating bank, but never been credited to M&T, so that is in limbo. PITA

        RIP M&T

        • $25 "Miscellaneous Credit" applied to the account that I had transferred the $25 from, so that is resolved. However, I sent two ACH's and only one was returned to the originating bank. The other was "accepted" by M&T, per my brokerage. I am not looking forward to getting a lecture from M&T on the phone, so I SM'ed M&T. What pisses me off more than anything, when deposits get returned, the bank that issued you deposit starts looking at you as a risk.

          In the mail today - my new debit card and PIN. Of course I am going to try to activate them and see if I can telephone access the account.

          • Debit card would not activate - no surprise there. Also, recv SM response stating the account was closed 9/6, and the $100 ACH was returned on 9/7, which is crap because that ACH was presented to M&T around 9/1.

            Next, recv letter from the "Virtual Branch Manager" stating the bank is choosing not to service the account, and it is closed. Also enclosed, a receipt for the transfer of the $25 funds I had initially deposited, which the handwritten note states the account was closed due to "bonus ineligibility".

            Good news is I don't have to babysit the account, unlike the QJ account.

        • As William stated, I guess they only now doing it with QD code - they enable auto check if people have accounts and if so - shut them down - I'm only guessing. Will you try to recycle QC code? Or you don't have currant QC account opened?

          • I have a current QC open, and I don't do duplicates.

            QJ failed, now QD failed. Done with M&T.

            They finally figured out they were getting milked, apparently. Only took them 6 months.

    • Hey Gadget, you said you closed one of your M&T accounts last month, how were you able to do that, by message or phone or did you have to go into a branch?

      I'm getting close to the 180 days on my first M&T account and will want to close it but haven't run across any DP's on how people are doing the closings.

      Since I don't live near a branch, interested in how others are doing it.

      Thanks.

      • Secure message. When it's your last and final account, they may ask you to send a notarized letter or go into a branch. That's what happened to me last year when I tried to close my final account. YMMV

    • Gadget,
      A similar thing happened to me, while the gravy train was still full steam ahead, a few months ago.
      I was given my new M&T acct number immediately. Within 5 mins I set up a transfer from Ally, also a brand new acct, and they began the trial deposits much faster than I was accustomed to with Cap1-360. Ally could not push the trial deposits sucessfully simply because my M&T acct was so new, it was barely known to M&T yet. So I waited 1 business day then did a bill pay from my regular bank acct and it was accepted. No freezing of accounts, got the bonus.

        • Also, once that trial deposit failed to push into my M&T acct, I was told by Ally that in order to link that acct, I will need a letter from M&T that it is indeed my acct. Depsite explaining the whole story on the phone, they would not attempt another set of trial deposits.

          • Exactly my concern. That I have to explain to my other bank when this happened, and they get upset. Discover bank decided to Snoop around after some of my trial deposits failed. Pulled my Chex w/o authorization. Then, sent me a 30 day notice of closing for my checking & savings. Closed my credit card almost instantly, too. Jerks.

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