[Expired] [YMMV] M&T Bank $200 Checking Bonus (QI) – Available Online [CT, DC, DE, MD, NJ, NY, PA, VA, WV]

This bonus has expired, click here to view the best current checking bonuses.

Bonus is back and valid until December 8th, 2017. Please keep in mind that M&T are a lot more strict than they once were and it’s likely you won’t get the bonus if you’ve received one before or didn’t received the targeted mail out. Read our recent M&T for more data points. Hat tip to reader Randy C.

Offer at a glance

• Maximum bonus amount: $200
• Availability:  CT, DC, DE, MD, NJ, NY, PA, VA, WV
• Direct deposit required: Yes, $100
• Additional requirements: Use promo code QI
• Hard/soft pull: Soft
• ChexSystems: Yes
• Credit card funding: None
• Monthly fees: Avoidable
• Early account termination fee: $50 180-days
• Expiration date: May 24th, 2017 December 8th, 2017
• Household limit: None listed

The Offer

No direct link to offer (go to mtb.com/checking and enter promo code QI, but read our verdict first)

• Open a new M&T personal checking account by December 8th 2017 with the promotional code QI and receive a sign up bonus of $200 when you do the following:
  • Set up a qualifying direct deposit of $100 or more within 90 days of account opening
• You can find your account number by sending a secured message (via Robert), just look in the outbox and it’ll show.

The Fine Print

• 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
• Offer is nontransferable
• 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  M&T Bank will waive the first month’s monthly fee. M&T will charge your account service fee every month even if you meet the requirements; the fee is refunded the same day if requirements are met. So you always want to keep enough in your account to cover the monthly fee.]

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.

MyChoice Checking

This account has a monthly fee of $6.95 that can be waived with any of the following methods:

• Receive direct deposits totaling $200 or more
• Make 10 or more monthly debit card purchases
• Keep an average daily balance of $500 (might be $1,500 depending on your area) or more 

Basic Banking

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

Early Account Termination Fee

Update: Looks to be $50 now.

Our Verdict

Not the case anymore, read the warning at the top.

If you’ve been following along with M&T bonuses (and you should have been) then you’ll know that these are churnable (I think you only need to use a different promo code). This is technically targeted, but in the past this hasn’t been enforced at all. In fact the state requirement isn’t enforced either. M&T has been ridiculous money recently for a lot of people, so enjoy this one as well. Definitely going on our best checking bonus list. They currently have these other offers:

• M&T Bank $150 Checking Bonus – Available Online (QC) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
• M&T Bank $150 Checking Bonus – Available Online (QD) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]
• M&T Bank $250 Checking Bonus – Available Online (QH) [AZ, CT, DC, DE, MD, NJ, NY, PA, VA, WV]

Big thanks to reader, Michael who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• 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