M&T Bank is offering their
M&T Checking Account Offer: Open An Eligible Account + Enroll in Direct Deposit & Make Qualifying Direct Deposits totaling at least $500 (
within 90-days of account opening) w/ promo code
TN and
earn $350 Cash Bonus credited to your account or when you follow the instructions listed below.
Thanks to community member
ImagineNoReligion for finding this deal
Note, some of the products offered by M&T Bank may vary between locations. Please enter your home zip code to see if this offer is available in your state
Explore the checking accounts via the promotional page: M&T Bank: MyChoice Premium, MyChoice Plus, EZChoice or MyWay Banking
Deal Instructions- Click this link here
- Open a qualifying M&T Bank Checking Account via online or at any branch by October 25, 2024 using promo code TN
- Set up your direct deposits by enrolling and make a qualifying direct deposits totaling at least $500 within 90 days of account opening
- Your $350 cash bonus will be credited within 90 days of the account receiving the qualifying direct deposits
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153 Comments
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"Qualifying direct deposits include, but are not limited to, recurring electronic deposits such as payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers such as those made through internet payment services do not qualify."
They can still decline you for a checking account.
- They paid the bonuses.
- I've got appointments at the local branch for various issues, which they have always handled.
- They did decline a $1000 debit card transaction for security reasons. I was okay with that, and it was correctly and quickly rectified with a phone call to customer service, without any human intervention (the robots handled it, they knew a payment was just declined, asked if it was me, and verified identity). Maybe some don't like that, but I'm very good with it.
- They handled a complex checking account, called a representative payee account, that involved integration with social security well. This was done in-person.
I'm actually considering throwing more BoA/Merrill's way. BoA has IRA and local checking account, but my main checking account, wife's IRA, and brokerage accounts are elsewhere.
Savings accounts and CDs are not with BoA because their interest rates royally suck.
10% $0 - $11,000
12% $11,001 - $44,725
22% $44,726 - $95,375
24% $95,376 - $182,100
32% $182,101 - $231,250
35% $231,251 - $578,125
37% $578,126 - And up
So if you are in the 1%, you get the bonus, you still retain 63% of it AFTER taxes are paid.
That said, if you want to avoid taxes, credit card bonuses don't have them at all. Credit card bonuses are not income - they are just spending less.
- They paid the bonuses.
- I've got appointments at the local branch for various issues, which they have always handled.
- They did decline a $1000 debit card transaction for security reasons. I was okay with that, and it was correctly and quickly rectified with a phone call to customer service, without any human intervention (the robots handled it, they knew a payment was just declined, asked if it was me, and verified identity). Maybe some don't like that, but I'm very good with it.
- They handled a complex checking account, called a representative payee account, that involved integration with social security well. This was done in-person.
I'm actually considering throwing more BoA/Merrill's way. BoA has IRA and local checking account, but my main checking account, wife's IRA, and brokerage accounts are elsewhere.
Savings accounts and CDs are not with BoA because their interest rates royally suck.
I have a sizeable brokerage with BoA and they do offer some discounts on loans (interest rate cut) when you're a higher tier member. Not life changing but e.g. 0.5$ on an auto loan is good. BoA is our "working" bank meaning where DD happens, bills paid, custodial accounts for the kids, etc.
https://promotions.bank
Good luck.
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Good luck.
"Qualifying direct deposits include recurring electronic deposits of payroll, pension or Social Security. Person-to-person, bank transfers or other electronic money transfers, such as those made through Internet payment services, do not qualify."
- For the people that jumped on the guy that said it aint worth the taxes: he's correct in the sense that its up to u to figure out what ur time is worth. The form they send you to file your taxes (typically a 1099- misc) is not recognized as regular income and is taxed at a higher rate - just about 50 percent. You can save time and take my word, or u can use ur time, plug some numbers into turbo tax then enter any amount u want as a 1099-misc and see how its affected. *Not a tax specialist ** Not tax advice
So for $100 u wind up with $50. Let the bank forget to send u one and have to spend time on the phone with customer and have it hold up ur taxes, That $50 may not be worth it. 'Oh thats fine it aint that big an amount I jus wont claim it' hah, i played that game once about 10yrs ago and the the fees that the irs slapped me with were bigger than all the money ive made attempting to churn. Plus the time and stress that comes with dealing with the irs. Yea $50-100 bonuses are barely worth it SOMETIMES unless u can really use the money and are the type to not mind these kinda of hassles. I opened a bmo one times jus for the bonus, they debited the $25 needed to open, closed my account cause they cudnt verify my identity. Didnt get my money back. I make $26 and hour. After an hour of dealing with them i called it a loss and chalked it up to lesson learned. Easier to stay an extra hour at work.
Tips for People wondering if they can game the system and open the account that makes more money : typically banks have it so u dont have to meet the account requirements for 60 days. So watever the minimum amount of time u have to keep the account open to not have to return bonus- typically subtract 60 days from that. Want a real pro tip? Once u get the bonus, and/or after 60 days, contact bank, tell them ur circumstances have changed, and ask for a 'sub product code change' they wont want to or will say they cant but they can. An spcc is when they change the type of account u have, but all the info on the account atays the same (they typically will if u have bills or auto debits/credits to/from your account)
- where is this available/ is this a reputable bank? - m&t is a regional bank and is typically made available to a lot of Northeast states. They are reputable, they have m&t stadium home to the baltimore ravens. You wont lose your money. they're fdic insured. Offer the tools most banks do like online banking, money transfer via zelle. Theyre online banking isnt as modern looking or full featured as Chase or bank of america but it'll get the job done.
Id verification: sometimes they will make u come in to show id before the make ur account 'active' if ur unlucky opening ur account online wont work at all and you'll have to go to a branch. If u have to go to a branch expect to spend at best an hour conducting your business. Again time and gas playing into the post tax dollar net bonus being worth your time or not. If its slow or u go at a busy time it will take longer to open your account in person.
*MOST* bank especially larger ones do not do hard credit checks when opening a checking account they utilize a system just for banking called chexsystems. SOME bank do utilize hard credit checks i havent read the fine print on this one so idk bout now, but when i opened two years ago they didnt. Hard credit check shud again play into is it 'worth it'. This deal wid net $175 post tax so for some it'd be worth the credit hit cause they know theyll bounce back, but for others it aint worth it.
Again 'worth it' or 'not worth it' is relative. The guy that said it aint worth it may not understand some peoples position, the ones that screamed at him sayin it is worrh may not understand The folks that are in his position. Factor post tax net amount (again about half of any given posted bonus amount) and decide if it's 'worth it' to you
I'm a former bank manager and am very familiar with this type of promotion feel free to ask any questions ill answer as best I can. Typin from an iphone while at work so dont care to check for typos, shud be clear enough for most to understand.
******* again i am not a tax specialist. Take all of my post as a stranger from the internet not as something you shud consider law.
What are you smoking that you think you are taxed 50%?
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Bonus offers are not available to anyone that has received a cash bonus credited to a personal M&T checking account within the last 12 months (Refer Friends Program is excluded from this 12-month period), or employees of M&T Bank or any of its affiliates
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