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Compare M&T Bank products: Savings, Checking, and CDs

A broad selection of personal and business banking options — but watch out for monthly fees.

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M&T Bank
M&T Bank offers a wide range of checking, savings and CD account options for individuals and businesses alike. But watch out for low interest rates, limited branch locations and monthly fees.

What banking products does M&T Bank offer?

You’ll find a wide variety of accounts at M&T Bank:

Compare M&T bank accounts

Name Product Minimum deposit to open ATMs Out-of-network ATM fee
M&T Bank MyChoice Premium Checking
$25
Over 1,500 free M&T Bank ATMs and up to $2 rebates when using all other ATMs
$0
Get up to $250 if you open a MyChoice Premium M&T checking account by March 2, 2020, and make qualifying direct deposits totaling at least $500 within 90 days of account opening.
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M&T branch locations

M&T Bank has branch locations spread across the east coast:

How does M&T Bank compare to other banks and services?

M&T Bank is headquartered in Buffalo, New York and has 1,600 ATMs and over 750 locations in 10 states. It manages over $120 billion in assets and is ranked as the 462nd largest bank, according to Fortune 500.

Checking accounts

Pros

  • Low opening deposits. You only need $25 to open most M&T Bank checking accounts.
  • Earn interest. M&T Bank has several interest-bearing checking account options for personal and business use.
  • Variety. With 12 checking account options, you have the ability to choose an account that suits your needs.

Cons

  • Monthly maintenance fees. Monthly maintenance fees range from $0 to $24.95 for personal accounts and up to $50 for business accounts. Some business fees aren’t waivable.
  • ATM fees. Unless you have easy access to one of M&T Bank‘s 1,500 ATMs, you’ll pay for non-network ATM fees.

Savings accounts

Pros

  • Relationship perks. M&T Bank waives the monthly fee when you link your savings to an M&T Bank checking account or meet certain minimum daily balance requirements.
  • Serves as overdraft protection. Link your savings account to your M&T Bank checking account and money will automatically transfer to checking if your balance dips below $0.

Cons

  • Low rates. Even M&T Bank‘s promotional APYs are lower than the competition.
  • Expensive excessive withdrawals. You’ll pay $12.50 each time you make more than six outgoing transactions a month, which is high considering most banks charge around $5.

CDs

Pros

  • Flexible terms. Terms start out at 32 days and go up to six years.
  • Accessible interest. Have your interest deposited back into your CD each month so it can keep growing. Or, have it mailed to you or sent to your M&T checking or savings account.

Cons

  • Low rates. M&T Bank‘s interest rates are much lower than other banks.
  • Opening deposit. M&T CDs require a $1,000 deposit to get started, which is average for most banks.
  • Must be opened in-person. Some banks let you open a CD online, but M&T Bank requires you to visit a local branch.

Overall banking

Pros

  • Business and commercial options. M&T Bank has a variety of checking, savings and money market options for business and commercial use.
  • Resources. M&T Bank has a well-rounded resource center where you can get tips and tricks for managing your money.

Cons

  • In-person banking. You’ll have to visit an M&T branch location to open a CD or an M&T Starter Savings account, or change your name and address with a debit card order.
  • Limited branch locations & ATMs. M&T Bank has 1,600 ATMs and over 750 locations across the East Coast.

    M&T Bank customer service

    There are three ways to get in touch with M&T Bank:

    • Call 800-790-9130 weekdays from 8 a.m. to 9 p.m. ET and weekends from 9 a.m. to 5 p.m. ET.
    • Email custserv@mtb.com.
    • Visit a branch location near you.

    Compare M&T Bank to the competition

    Thinking M&T Bank isn’t for you? Compare accounts from other top-rated institutions:

    $
    $
    months
    Name Product Interest rates (APY) Fee Minimum deposit to open Interest earned More info
    Citibank® Account Package

    0.13% on $500,000+
    0.08% on $25,000 to $99,999.99
    0.04% on $0 to $24,999.99
    $25 per month
    (can be waived)
    $0
    Go to site
    View details
    Earn a $400 bonus after opening new eligible checking and savings accounts and completing required activities.
    American Express® Personal Savings High Yield Savings
    0.60%
    $0
    $0
    Go to site
    View details
    Enjoy no monthly fees and a competitive APY with this online-only savings account. Accounts offered by American Express National Bank, Member FDIC.
    CIT Bank Money Market
    0.60%
    $0
    $100
    Go to site
    View details
    A savings account with a higher-than-average rate and minimal fees.
    Chase Savings
    0.01%
    $5 per month
    (can be waived)
    $0
    Go to site
    View details
    A simple savings account with low, waivable monthly fees and a $150 signup bonus when you meet deposit and balance requirements.
    Aspiration Spend & Save Account

    1.00% on $0 to $10,000 but you’ll need to be enrolled in Aspiration Plus and make at least $1,000 in debit card purchases a month
    $0
    $10
    Go to site
    View details
    A spend and save combo account with no monthly service fees, free access to every ATM in the world, unlimited cash back rewards and deposits insured by the FDIC. The Aspiration Spend & Save Account is a cash management account offering of Aspiration Financial, LLC, an SEC-registered broker-dealer. Aspiration is not a chartered bank.
    CIT Bank Savings Builder High Yield Savings Account

    0.55% on $25,000+ or set up a direct deposit of $100+ each month
    0.31% on $0 to $24,999
    $0
    $100
    Go to site
    View details
    No account opening or maintenance fees. Daily compounding interest. Earn one of the nation's top rates
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    Bottom line

    If you’re an individual or business looking for a wide range of banking products, M&T Bank may fit your needs. But if a high-yield, fee-free account is what you’re after, shop around for other options.

    Frequently asked questions

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