With 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. 🙂