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About M&T Bank
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M&T Bank is a financial services company with a variety of personal and business banking solutions, including checking and savings accounts, loans and credit cards. With more than 1,000 branches and 2,200 ATMs in the Mid-Atlantic states, M&T Bank is best suited for those looking for a local banking experience. While its savings accounts have low interest rates, its promotional certificates of deposit (CDs) are a great way to lock in a competitive rate.
- Variety of personal and business banking solutions
- Promotional CDs with competitive rates
- Multiple credit cards with no annual fee
- Limited service area
- Below-average interest rates
- Monthly fees on most accounts
Featured Reviews
What is M&T Bank?
M&T Bank is a regional bank headquartered in Buffalo, New York, that provides personal and commercial banking services, including checking and savings accounts, loans, mortgages and investment services. With more than 1,000 branches and 2,200 ATMs across the Mid-Atlantic and Northeastern regions of the U.S., M&T Bank is one of the largest banks in the nation.
M&T Bank has branches in these states:
- Connecticut
- Delaware
- Florida
- Maine
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- Pennsylvania
- Rhode Island
- Vermont
- Virginia
- Washington, D.C.
- West Virginia
How does M&T Bank work?
If you live in M&T Bank's service area, you may enjoy convenient access to branches and ATMs. But if you frequently travel outside of the region, you may have limited banking options.
M&T Bank has online and mobile banking services, but its digital offerings may not be as advanced or robust as some larger national banks. Its mobile banking app has a 2.5-star rating in the Google Play Store and a 4.9-star rating in the Apple App store.
You can open most M&T Bank accounts online. Customer service is available daily by phone, and you can visit a branch if you need in-person support.
M&T Bank products and services
With M&T Bank, you’ll get these financial products:
Checking accounts
- EZChoice has no monthly maintenance fees but lacks some features.
- MyChoice Plus is an interest-bearing account with additional benefits like discounts on personal loan rates.
- MyChoice Premium is also interest-bearing and offers the most features, including no incoming wires transfer fees, discounts on safety deposit boxes, discounts on loans and other waived fees.
- MyWay Banking is a checkless account that’s ideal for those who want to avoid overdraft fees altogether.
Savings accounts
- MyChoice Money Market comes with a checkbook and tiered interest rates, so the more you save, the more you earn.
- Relationship Savings has no monthly fee with a linked M&T checking account.
- M&T Starter Savings is designed for kids and teens under age 18 and has no monthly fee or minimum balance requirement.
Certificates of deposit
Loans
Credit cards
- M&T Visa Signature Credit Card earns unlimited 1.5% cash back on every purchase.
- M&T Visa Credit Card with Rewards earns points on all purchases, with no earning cap.
- M&T Visa Credit Card offers a lower interest rate than the other cards.
- M&T Secured Credit Card is designed for those trying to rebuild or establish their credit.
Business banking
Its business checking accounts range from basic to premium, while its loans include term loans, lines of credit and U.S. Small Business Administration (SBA) loans. M&T's cash management solutions provide tools for managing cash flow, payroll and merchant services, among others.
M&T Bank fees
M&T Bank’s EZChoice checking account is free, but other checking accounts have monthly fees ranging from $4.95 to $24.95.
Aside from its student checking account, savings account fees range from $7.50 to $15.
You can waive any monthly fee by meeting certain account activities or by maintaining a minimum balance. You can avoid overdrafts by opening a MyWay Banking account.
M&T Bank also has these common bank fees:
- $15 for overdrafts of $5 or more
- $8 for overdraft protection transfers from another checking account
- $3 for non-network ATMs in the U.S.
- $5 or 3% for international ATMs, whichever is greater
- $0.50 or 3% for foreign transaction fees, whichever is greater
- $50 if you close your account within 180 days of opening
- $16 for incoming wires
- $32 for outgoing domestic wires
- $75 for outgoing international wires
M&T Bank FAQ
Does M&T Bank use Zelle or another payment service?
Yes, M&T Bank uses Zelle as a payment service so customers can send and receive money easily. You can initiate a Zelle transfer in the M&T Bank mobile app.
Can I open an account at M&T Bank if I have bad credit?
It depends on the type of account you’re opening, but it’s likely that you can bank with M&T even if you have bad credit. Its MyWay Banking account is for customers with a poor banking history, and its secured credit card is for those trying to rebuild credit.
Where is M&T Bank available?
M&T is available to residents in these states: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia, Washington, D.C. and West Virginia.
What are M&T Bank's hours of operation?
M&T Bank branch hours vary by location, but many branches are open weekdays during regular business hours. You can find specific hours for your local branch on M&T Bank's website.
Is M&T Bank legit?
M&T Bank is a legitimate financial services company that provides a breadth of personal and business banking solutions, including checking and savings accounts, loans, credit cards and cash management services.
Overall, it can be a solid choice if you live in M&T’s service area and value branch access and personalized customer service. However, if lower banking fees and higher yields are what you’re after, you might find better options with an online institution.
M&T Bank Reviews
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- 4,606,585 reviews on ConsumerAffairs are verified.
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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
M&T Bank Company Information
- Company Name:
- M&T Bank
- Address:
- 345 Main St.
- City:
- Buffalo
- State/Province:
- NY
- Postal Code:
- 14203
- Country:
- United States
- Website:
- www.mtb.com
