M&T Bank Promotions: $400 Checking Account Bonus + $1,500 Business Checking Offer

I’m happy to report that M&T Bank, a regional bank based in New York, has launched several promotions for new customers of their consumer checking and business checking accounts, along with offers for M&T’s credit card and payment processing service.

M&T offers typical services for a regional bank, ranging from products that cater to personal, business, and commercial customers, and includes various accounts such as checking and savings, investment accounts, web trading, insurance, home, auto, student, and personal loans, and credit cards.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Current M&T Bank Promotions

1. M&T Checking Account – $400 Bonus

Get a $400 bonus when you open a MyChoice Premium Checking account and set up qualifying direct deposits totaling at least $1,000 within 90 days of account opening.

It used to be available for EZChoice Checking and MyChoice Plus Checking accounts too, but these accounts are not part of the current promotion. Keep in mind that M&T accounts have different fee schedules and minimum balance requirements[1].

Bonus Amount: $400
Account Type: Personal Checking
Availability: CT, DC, DE, MD, NJ, NY, PA, VA, WV
Expiration: May 31, 2024

Bonus Requirements:

  1. Open a new M&T Premium Checking Account using the link below (promo automatically added with the link).
  2. Make qualifying direct deposits of at least $1,000 within 90 days of account opening.
  3. Receive a $400 bonus deposited within 90 days of meeting qualifying requirements.

2. M&T Tailored Business Checking Account – Up to $1,500 Bonus

Earn up to a $1,500 cash bonus when you open a new M&T Tailored Business Checking account and maintain an average ledger balance of at least $5,000 in the third full calendar month after the account was opened. The higher your average ledger balance, the bigger the bonus amount:

Average Ledger BalanceBonus
$5000 – $14,999.99$300
$15,000 – $99,999.99$500
$100,0000 or more$1,500

The bonus is not available to customers who have had an M&T business checking account within the previous 90 days of opening an M&T Tailored Business Checking account. There’s an early account termination fee of $50 if the account is closed within 180 days of account opening.

Bonus Amount: Up to $1,500
Account Type: Business Checking
Availability: CT, DC, DE, MD, NJ, NY, PA, VA, WV
Expiration: June 28, 2024

Bonus Requirements:

  1. Open a new M&T Tailored Business Checking with the promo code BD by scheduling an appointment via the link below.
  2. Maintain at least $5,000 in the third full calendar month after account opening.
  3. Receive a bonus up to $1,500 bonus by the end of the fourth month.

3. M&T Merchant Services – Up to $500 Cash Bonus

Earn up to $500 cash bonus when you open a new M&T Merchant Services account and process transactions. Get $250 when you process at least $1,000 within the first two months or receive $500 when you process over $100,000 within the first two months.

Bonus Amount: $500 Bonus
Account Type: Merchant Services
Availability: Nationwide
Expiration: June 30, 2024

Bonus Requirements:

  1. Open a new Merchant account and sign a 1-year, 2-year, or 3-year contract.
  2. Process transactions to reach the qualifying volume for the bonuses within the first two full months (for example, if M&T Merchant Services account is opened in June, the processing volume from July and August will be used to determine the cash bonus).
  3. Receive a $250 or $500 cash bonus based on your total processing volume within five months of when the merchant account was opened.

4. M&T Visa® Credit Card with Rewards – $100 Cash Bonus

Get a 10,000 bonus points (equal to $100 cash or statement credit) when you open a M&T Visa Credit Card with Rewards and spend $500 in the first 90 days.

Plus, enjoy no annual fee and a low 0% introductory APR on purchases and balance transfers for the first 12 billing cycles[2].

With this credit card, you will earn an unlimited 1 point per $1 spent on every purchase, with no limit[3].

Bonus Amount: $100 Bonus
Account Type: Credit Card
Availability: Nationwide
Expiration: N/A

Bonus Requirements:

  1. Open a new M&T Visa Credit Card with Rewards using the link below.
  2. Spend $500 in the first 90 days of account opening.
  3. Get a $200 bonus after meeting spend requirement.

Expired M&T Bank Bonuses

The following are previous U.S. Bank promotions, welcome offers, and sign-up bonuses that have since expired. U.S. Bank may bring them back in the future, but for now, this is for informational and reference purposes only:

  • M&T MyChoice Premium Checking – $400/$450 bonus
  • M&T Merchant Services – $300 bonus with promo code ONLINE300
  • MyChoice Premium Checking – $350 bonus
  • EZChoice Checking – $150 bonus
  • M&T Tailored Business Checking – up to $800 bonus

M&T Bank Promotions FAQs

Are M&T Bank promotions available nationwide?

Not all promotions are available nationwide. Banking products are offered for residents of specific states, but credit card offers are generally available for all US residents.

Are sign-up bonuses taxed?

Bank account opening related bonuses are taxable and may be reported on IRS Form 1099-MISC. M&T Bank will send you a 1099-MISC at the end of the year if you earned more than $600 in cash.

However, you’re still required to self-report and pay taxes regardless if you received a 1099-MISC (or 1099-INT) or not. Please consult your tax advisor for further information.

Credit card bonuses, whether cash or reward points, are typically not taxed because most credit card offers require a minimum spending amount to qualify for the bonus, so the reward is considered a rebate on the purchase rather than taxable income.

How do I get a M&T Bank promo code?

The majority of M&T Bank bonuses don’t require a promo code. If one is required, it will be noted in the bonus requirements.

Do M&T offers expire?

Yes, generally all M&T Bank promotions have expiration dates unless otherwise stated. Some offers may not have one and those will be marked with an expiration date of ‘N/A’.

Keep in mind that many banks, including M&T Bank, renew or extend some offers as the old ones expire. However, the bonus amount, requirements, and/or terms and conditions may be different.

How long does it take to receive my bonus from M&T Bank?

Generally, M&T Bank will pay out bank bonuses within 45 to 90 days of completing the offer requirements while credit card bonuses are credited by the next billing statement of completing the offer requirements.

If you haven’t received your bonus in the expected amount of time, contact M&T Bank’s customer service at 1-800-724-2440.

Can I take advantage of multiple M&T Bank promotions?

You can take part in multiple offers as long as each product is from a different product group.

For example, you can receive a personal checking account bonus along with a business checking account bonus as those accounts are from separate product groups (personal checking vs business checking).

However, you won’t receive a personal checking account bonus if you have an existing M&T Bank personal checking account or your previous one was closed within the past 180 days.

Please read each offer’s terms and conditions to make sure you qualify for the promotion.

The Bottom Line

M&T Bank is a regional bank, so the availability of their bank bonuses is unfortunately limited to certain states.

If you are from one of the 12 states in its geographic footprint (located in the Eastern United States), then it’s worth considering. M&T’s personal bank account bonuses are comparable to those offered by national banks, and their business account offers rank at the top in terms of bonus amount and ease of requirements.

I would skip their credit card offers, though, as the bonuses aren’t as competitive compared to the ones offered on my list of the best credit cards.

For instance, Capital One Venture X Rewards Credit Card provides a bonus valued at approximately $750, whereas the M&T Visa Credit Card with Rewards only offers a bonus of $100. Considering the small bonus amount, it’s not worth the credit inquiry on your credit report.

While you shouldn’t choose a bank based solely on a new customer bonus, it’s a great incentive to try the many banking and credit card products available.

If you’re interested in more bank bonuses, be sure to check out my entire list of the best bank bonuses for more options to earn free money and rewards.

M&T Bank, Member FDIC.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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