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M&T Bank Checking Account $150 Bonus Promotion

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M&T BankWith the economy on the road to recovery (we hope!), banks are getting back into the business of banking. What that means is an increase in the number of bank deals floating around, like new account bonuses.

This week, the promotion of note is one offered by M&T Bank (MTB). They are offering up to $150 in new account bonuses when you open a new checking account. The $150 is broken up into three phases:

  • $100 when you open an account and activate a direct deposit within 90 days,
  • $25 when you add overdraft protection,
  • $25 when you use their billpay system.

On the $100 direct deposit bonus, you have to activate a direct deposit within 90 days and your bonus will be credited after the first direct deposit is made. It isn’t available on all checking accounts, so confirm when you apply, but it does work on M&T Select Checking. The M&T Select Checking has no fee if you have a $5,000 average daily balance, otherwise the fee is $14. The M&T Direct Checking, which has a $1,500 minimum to avoid the $5.95 fee, only offers a $25 cash bonus for direct deposits.

As for the overdraft protection, you need to activate it before the end of the month following account opening and the bonus will be credited within 90 days. The bill pay system bonus of $25, that requires three bill payments made using their M&T Web Bill Pay system before the end of the month following account opening.

M&T Bank has locations in New York, Maryland, Pennsylvania, Delaware, New Jersey, Virginia, West Virginia and the District of Columbia. If this interests you, you can open an account here.

$150 is better than a toaster. 🙂

{ 9 comments, please add your thoughts now! }

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9 Responses to “M&T Bank Checking Account $150 Bonus Promotion”

  1. eric says:

    Again left out in the cold lol. But nice to see these promotions still around.

  2. Dean says:

    They might be adjusting this promotion on-the-fly.

    M&T Select Checking (for me) only lists a $50 cash-back with direct-deposit, and nothing of the other two $25’s.

    The first page of the link in the article mentions $50/25/25, not $100/25/25.

  3. fairydust says:

    Same here ($50/$25/$25) when I click through the link.

  4. Jim says:

    When I click it the promo is $100/$25/$25, maybe it’s geotargeting?

  5. Scott says:

    FYI, I did a similar M&T promotion last year (and still have the account so I’m not eligible for this one) and was able to open a Direct Checking account for the promotion and then later switch it to be a Free Checking account to avoid the fees.

  6. jsbrendog says:

    oh please let this continue and be the norm. hopefully interest rates follow

  7. Daniel says:

    Does anybody know if an ING direct transfer would count as a direct deposit?

  8. Israel Belsky says:

    FOOL THAT YOU ARE. THERE IS NO INITIAL PROMOTION FOR $100 +$25 +25. The bank is only giving $50 for opening the account +25 +25. But if you don’t maintain $2500.00 daily average you are charged $14 each month. So the max you can pull out is $72.00. Is it worth your time?

  9. Danya Barto says:

    I would think again about the 150.00 bargain through m&t bank. You have to have good credit to get the overdraft protection. I would like to tell you to that if you cant make it to the bank before 2pm and you deposit money into your account even though you depoisted on the 20th money will not be deposited until the 21st. I have had this happen to me and they get 37.00 for each overdraft. Not a good bank.

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