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m&t Bank $350 Cash Bonus for 10k Deposit

$350.00
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m&t bank has $350 bonus with 2 month deposit of 10k
https://campaigns.mtb.com/premium-cash-bonus
note there is a $50 closing fee

I'm not sure if this is worth it for me because my 10k currently earns 5.25 at UFB. At m&t the 10k has to stay in there from part of Nov until the end of January until you can keep a minimum of 7500 in there until they pay and at that point they charge $50 to close. Someone please advise
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Created 11-06-2023 at 03:15 PM by nevergoodenough
in Finance
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Joined May 2018
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ChrisEcat
11-07-2023 at 02:56 PM.
11-07-2023 at 02:56 PM.
I'm curious about the same thing. I think $350-50 close out fee still adds up to more than 5.25% interest
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Joined Apr 2019
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> bubble2 7 Posts
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KevinW14
11-09-2023 at 07:52 AM.
11-09-2023 at 07:52 AM.
"A $50 early close-out fee applies if the account is closed within 180 days of opening." So keeping the account open for that long negates the close-ou fee. Unfortunately for me it says the offer is not available in my area even though there are local branches.
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Joined May 2014
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Cheezycheeto
11-09-2023 at 10:40 AM.
11-09-2023 at 10:40 AM.
Doing some rough rough math, ($10k x 0.0525)/12 = $43.75 a month x 3 months = ~$131.25

Not sure if this checking account has any interest but its not gonna be enough to offset the ~$218 difference. Moving $2500 out in January to your UFB will net you an extra ~$11 a month. Note that these are full months of getting interest. Moving money around esp from UFB usually takes a business week so that means a week of interest can be lost moving money so that $11 is probably less if you're closing out the account asap.
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Joined Aug 2015
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peterbushfan
12-04-2023 at 12:36 PM.
12-04-2023 at 12:36 PM.
This offer is not available in Indiana.
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Joined Aug 2015
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peterbushfan
12-04-2023 at 12:53 PM.
12-04-2023 at 12:53 PM.
I will be more specific. I was advised that the offer is not available to me after entering my zip code. Is this a normal occurrence?
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