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$175 Family Value Bonuses from M&T Bank

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M&T BankM&T Bank has really gotten very aggressive in its promotions lately and this time they’re offering up to $175 in “Family Value Bonuses” when you open a checking account. You can access the promotion by visiting a specialty built website,, and entering your zip code to see if there are eligible accounts in your area.

I already have an M&T Bank account, so I’m not eligible, but I really like how their account comparison page tells you everything you need to know. How many other places explain their fees in plain english? If you open an M&T Select Checking, there’s a $14 monthly service fee unless you have a balance over $5,000 or total balances of $10,000, or have a mortgage originally over $100,000. Their Totally Free Checking has no minimum balance or monthly fee and is eligible for $25 in cash, $50 in gift cards.

Here are the different accounts, their bonuses (gift card is from Best Buy), and minimum requirements:

  • M&T Select® Checking – $5,000 minimum balance, $125 in cash bonuses, $50 in gift cards
  • Power Checking – $50,000 min., $175 cash, $50 gift cards
  • Totally Free Checking – No min, $25 cash, $50 gift cards
  • College Checking – for students, $25 cash, $50 gift cards
  • Basic Banking – $3 monthly fee, $25 cash, $50 gift cards

The cash bonus is paid upon activation of a direct deposit and the activation of their M&T Visa credit card (the majority of the bonus is paid because of the direct deposit). The gift cards are paid out on activating overdraft protection and enrolling/using billpay.

{ 9 comments, please add your thoughts now! }

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9 Responses to “$175 Family Value Bonuses from M&T Bank”

  1. Biny says:

    Decide not in. So many fees and catches.

  2. JimmyDaGeek says:

    The “minimum balance” requirements are very tricky.

    Is that an average daily minimum balance or an actual daily minimum balance? You have to keep more money in the account if that is an actual daily balance.

    I have a Totally Free Checking account that I use as my local B&M account where I deposit and cash checks, as well as write checks on. It has stayed free because I make a small direct deposit from my paycheck to it. I download the online statements and the check copies. I’ve had no hassles.

  3. Matt K says:

    If I create the account, throw in 5k. get the bonus, and then withdrawl everything, and close the account… does it affect my credit score? hurt me in anyway?

  4. zapeta says:

    Seems like there are lots of fees and catches. But if you open their free checking you can get $25 if you open their Visa, plus a $25 gift card if you opt in to overdraft protection, and another $25 gift card if you make 3 bill pays. If you do the Visa, you can link it to your account for the overdraft protection. The bill pays must be a minimum of $15 to count. Still, this seems like a pretty easy way to pick up $25 cash and $50 in gift cards.

  5. govenar says:

    Their website says “Up to a $125 Cash Bonus”, but then they say with Power Checking you can get $175 in cash bonuses (really $150 for the checking account; $25 for credit card), and $50 in gift cards; total $225.
    It’s not clear to me whether you really need $50,000 minimum to open the account, or if that’s just to avoid the monthly fee (you could open with a smaller amount, get the bonus, then convert to a free checking account to avoid the fee).
    I couldn’t find info about other fees on their website; according to an old fatwallet thread, there’s a $10 fee if you close within 180 days.

  6. Ari says:

    M&T Is actually terrific. They seem to be one of the solid, best focused banks in the country without being overbearing. I am a customer too and enjoy the security/safefy but they also seem to try to reach out a bit more than most and care. Can’t stand CAPOne. . .they are absurd.

  7. Tony F says:

    Hi Everyone:
    I work at M&T Bank and I want to provide some resources to help address the questions on this thread. For more details on our offers, visit:

    For additional details or questions, call 1.866.236.1281, or visit any M&T Branch —or click here:

    Thanks for your interest in M&T Bank, we appreciate your thoughts and input.”

  8. Deb says:

    Family values discount? Couldn’t they have come up with another marketing program name that didn’t sound so much like a divisive, politically-sounding catch phrase?

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