M&T Bank $400 Checking & Savings Bonus – Available Online [CT, DC, DE, MA, MD, ME, NH, NJ, NY, PA, VA, VT, WV]

Update 9/7/27: Deal is back with a $400 bonus, works on EZ choice and only requires a $500 direct deposit. I’d recommend waiting for a bigger bonus to return. 

Offer at a glance

• Maximum bonus amount: $100/$150/$200/$250/$350
• Availability:  CT, DC, DE, MD, NJ, NY, PA, VA, VT, WV
• Direct deposit required: Yes, $500
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: Avoidable
• Early account termination fee: None
• Expiration date: July August 15, 2018 September 5, 2018 October 31st, 2018 November 26th, 2018 January 16th, 2019 February 25th, 2019 April 1st, 2019 May 13th, 2019  March 2, 2020 September 15, 2020 January 11, 2021 April 5, 2021 October 5, 2021 April 30, 2022 May 27, 2022 June 28, 2022 February 24, 2023 August 25, 2023
• Household limit: None listed

The Offer

Direct link to offer

• M&T Bank is offering $400 when you set up and receive qualifying direct deposits to your new MyChoice Plus, MyChoice Plus Checking with Interest or MyChoice Premium Checking account, totaling at least $500 within 90 days of account opening.

The Fine Print

• Accounts opened outside of eligible regions may not qualify for the bonus.
• We will credit one cash bonus to the account if the account receives a total of at least $500 in qualifying direct deposits within 90 days of account opening.
• Qualifying direct deposits include, but are not limited to, recurring electronic deposits such as payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers such as those made through internet payment services do not qualify.
• Bonus will be credited to the account within 90 days of direct deposit activation as long as the account is in good standing and all of the eligibility requirements are satisfied at the time we seek to credit the bonus.
• Only one Premium Checking Bonus and one Direct Deposit Bonus will be awarded per customer regardless of the number of accounts opened.
• The bonus(es) are not available to existing personal M&T checking account customers, or those whose accounts have been closed within 180 days, employees of M&T Bank or any of its affiliates, or customers who have received a bonus in connection with a personal M&T checking account within the preceding twelve-month period.
• A $50 early close-out fee applies if the account is closed within 180 days of opening.
• Bonus offers may vary by product and region, are not transferable and are reportable for tax purposes.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them.

Avoiding Fees

EZChoice Checking

This account has no monthly fees.

Basic Banking

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

Classic Checking

This account has a monthly fee of $4.95 that can be waived with any one of the following methods:

• Have at least 1 direct deposit to your M&T Classic Checking with Interest account
• Keep an average daily balance of $500 or more in the account per monthly service charge cycle
• Make 10 or more debit card purchases or payments
• Keep combined balances of $1,500 or more in eligible personal deposit accounts

MyChoice Plus Checking

This account has a monthly fee of $14.95 that can be waived with any one of the following methods:

• Keep an average daily balance of $2,500 or more in the account per monthly service charge cycle
• Have direct deposits to your MyChoice Plus Checking account totaling at least $1,500 per monthly service charge cycle

MyChoice Premium Checking

This account has a monthly fee of $24.95 that can be waived with any one one of the following methods:

• Keep an average daily balance of $7,500 or more in the account per monthly service charge cycle
• Keep total combined balances of $25,000 or more in eligible personal deposit accounts, loans and home equity outstanding balances, investments⁶ and business deposit accounts

Early Account Termination Fee

There is no EATF

$50 Referral

There’s also a $50 referral offer from M&T which should stack with the regular bank bonus. More details and referral sharing can be found on this dedicated page. Do not share referrals in the comments here.

Our Verdict

The direct link above is just a generic M&T website link, so the bonus should work for any zip code deemed eligible (not sure what the “not transferable” means in the fine print). I’m assuming this bonus is available in the the states listed above, as was the case last time around (note it won’t work in all areas in those states). Let us know if you see eligible areas elsewhere. Remember, you can’t do this if you’ve gotten a bonus within 12 months.

Do not share referrals in the comments here.

Thanks to reader Michael for letting us know about this bonus. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

Bonus history

• Update 9/2/25: Bonus now $350. Requires premium account. December 31, 2025. 
• Update 6/24/25: Bonus now $350. 8/30/2025. Use code TB. Hat tip to reader Tikky
• Update 6/18/25: $200 link, valid 6/1 – 8/31 (ht Bob Dole)
• Update 3/4/25:
• $500 bonus link /500bonus is back, promo code TO, valid till 3/31/25
• $400 bonus link /400bonus, promo code TJ, valid till 3/31/25
• $350 bonus link /premium-checking, valid till 05/31/25
• Now shows Accounts opened outside of eligible regions may not qualify for the bonus.Hat tip to ShawntheShawn
• Update 1/8/25: There’s a new link for $500 bonus with promo code TU, valid through 2/28/25.
• Update 12/15/24: $350 bonus back at this link through 1/31/25 (ht Shawn)
• Update 10/30/24: New code TV 11/30/24. Doesn’t seem to be any mailer restrictions this time. Hat tip to reader Massy Mass
• Update 9/10/24. Looks like you need to have received a mailer to be eligible. $500 bonus is back with promo code UC. See also this comment for the various options.
• Update 7/7/24: Another link for this offer, promo code UB. (ht RobertL)
• Update 7/2/24: Offer is back, new promo code TJ and valid till 8/30.
• Update 4/1/24: Deal is back, this time for $400. Promo code TE and valid until 5/31/24
• Update 3/4/24: Deal is back, this time $350. Valid until 3/29/24.
• Update 1/5/24: There is now a $400 checking offer, requires a $1,000 direct deposit and promo code TK
• Older Post History in this comment