M&T Bank offers its
M&T Checking Account Offer: Open An Eligible Account + Enroll in Direct Deposit & Make Qualifying Direct Deposits totaling at least $1,000 (
within 90 days of account opening) with promo code
UC and
earn a $500 Cash Bonus credited to your account or when you follow the instructions listed below.
Thanks to Community Member
EfficientArm1742 for sharing this deal
- Note: Please enter your home zip code to see if this offer is available in your state. Available offer(s) may vary based on your location.
Deal Instructions- Visit the Offer Page
- Open a qualifying M&T Bank MyChoice Plus or Premium Checking Account online or at any branch by October 25, 2024, using promo code UC
- Set up your direct deposits by enrolling and making qualifying direct deposits totaling at least $1,000 within 90 days of account opening
- Your $500 cash bonus will be credited within 90 days of the account receiving the qualifying direct deposits
Top Comments
Edit: From what I've seen online, the first month's fee is waived and you can downgrade your account to the EZChoice plan so that you don't have to pay monthly fees and so you don't have to keep $2,500 in the account. I outlined this in my second comment: https://slickdeals.net/f/17778438-m-t-bank-checking-account-open-account-direct-deposit-1000-within-90-days-earn-500-cash-bonus-valid-in-select-states-thru-10-25?p=173029269#
As for tax calculations, (for a general rule of thumb) if you make more than $44,726, that puts you into the 22% tax bracket. Since the $500 sign up bonus is considered as taxable income, it will be taxed at 22%. Moreover, state tax also applies. For instance, Maryland State tax is 4.75% for income between $3,000 and $100,000. So after taxes, the $500 becomes $366.75 if you decide to keep the account open and keep $2,500 in the account for that duration. If you decide to pay the monthly fee and pay the early close-out fee you net $301.3.
* Sign up to ReferLive (this is NOT signing up for a checkings account) via a referral link to get a $50 visa giftcard (this is mines): https://io.referlive.co
* Click on the promotional link (https://campaigns.mtb.c
* The MyChoice Plus Checkings account should have the first monthly fee waived. You need to fund the account with $25 minimum.
* Once you register for the checkings account use a "qualifying direct deposit" and have your deposit(s) amount to $1000 minimum within 90 days.
* Users online have reported that some electronic transfers and bank transfers can qualify. Some users have reported success with getting the bonus by transferring funds from Robinhood, Cash App, Fidelity, Capital One and more.
* Once you have "direct deposited" aka transferred funds from, say, Cash App, you should get the bonus within a couple of days. Users online have reported getting the payout within 2-3 days. Some have reported it taking longer, for instance, a month. The maximum length it'll take is 90 days as written in the fine print.
* If you got the payout quickly, you can downgrade your account to the EZChoice checkings account so that you don't have to pay a monthly fee. If you didn't get the payout quickly then you have to keep it on your current plan (and if your payout isn't within the first month then you have to pay the second month's fee).
* Close the account after 180 days to avoid the early closing fee of $50. Or you can keep the account.
* The $500 is considered taxable income so you will have to pay state and federal income tax on it. File the tax form the bank gives you. It will be either a 1099-Misc or a 1099-Int. If you did not get a form add it to your 1040.
This promo runs regularly every 1-2 months. In the fine print it states you can't get a bonus if you had a account within the past year. So you can do this again the next year on the day you closed your account. This is called "churning".
Edit: You have to use the exact same information that you used in ReferLive for M&T Bank in order to get the $50 giftcard. They will crossmatch the information between ReferLive and M&T Bank and that's how they know whether it's a successful referral. If I recall correctly, the link is not a tracking link. Moreover, you will have to pay taxes on the $50 visa giftcard because it is considered a gift certificate of cash. You will have to add it as additional income under your 1040 tax form. The referral offer and the bank sign up bonus does stack. I have gotten a gift card in the mail along with my bonus which was posted 3 days after my $1000 DD hit.
Edit 2: Some people have issues trying to push money from one bank to M&T and it locks them out the account needing to call customer service. This is happening due to their outdated fraud detection system. If you have this issue you can try two things. The first thing you can try is verifying your identity at a branch. The second thing you can try is activating the debit card. If all else fails you will have to talk it out with customer service.
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Edit: From what I've seen online, the first month's fee is waived and you can downgrade your account to the EZChoice plan so that you don't have to pay monthly fees and so you don't have to keep $2,500 in the account. I outlined this in my second comment: https://slickdeals.net/f/17778438-m-t-bank-checking-account-open-account-direct-deposit-1000-within-90-days-earn-500-cash-bonus-valid-in-select-states-thru-10-25?p=173029269#
As for tax calculations, (for a general rule of thumb) if you make more than $44,726, that puts you into the 22% tax bracket. Since the $500 sign up bonus is considered as taxable income, it will be taxed at 22%. Moreover, state tax also applies. For instance, Maryland State tax is 4.75% for income between $3,000 and $100,000. So after taxes, the $500 becomes $366.75 if you decide to keep the account open and keep $2,500 in the account for that duration. If you decide to pay the monthly fee and pay the early close-out fee you net $301.3.
Edit: From what I've seen online, the first month's fee is waived and you can downgrade your account to the EZChoice plan so that you don't have to pay monthly fees and so you don't have to keep $2,500 in the account. I outlined this in my second comment: https://slickdeals.net/f/17778438-m-t-bank-checking-account-open-account-direct-deposit-1000-within-...
As for tax calculations, (for a general rule of thumb) if you make more than $44,726, that puts you into the 22% tax bracket. Since the $500 sign up bonus is considered as taxable income, it will be taxed at 22%. Moreover, state tax also applies. For instance, Maryland State tax is 4.75% for income between $3,000 and $100,000. So after taxes, the $500 becomes $366.75 if you decide to keep the account open and keep $2,500 in the account for that duration. If you decide to pay the monthly fee and pay the early close-out fee you net $301.3.
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https://slickdeals.net/click?sdtid=177
Edit: forget the link above. It means nothing because while it will show what accounts are available to be opened in your zipe code, when you actually go to apply it will say your state is unsupported and not a available to be opened.
* Sign up to ReferLive (this is NOT signing up for a checkings account) via a referral link to get a $50 visa giftcard (this is mine's): https://io.referlive.co
* Click on the promotional link (https://campaigns.mtb.c
* The MyChoice Plus Checkings account should have the first monthly fee waived. You need to fund the account with $25 minimum.
* Once you register for the checkings account use a "qualifying direct deposit" and have your deposit(s) amount to $1000 minimum within 90 days.
* Users online have reported that some electronic transfers and bank transfers can qualify. Some users have reported success with getting the bonus by transferring funds from Robinhood, Cash App, Fidelity, Capital One and more.
* Once you have "direct deposited" aka transferred funds from, say, Cash App, you should get the bonus within a couple of days. Users online have reported getting the payout within 2-3 days. Some have reported it taking longer, for instance, a month. The maximum length it'll take is 90 days as written in the fine print.
* If you got the payout quickly, you can downgrade your account to the EZChoice checkings account so that you don't have to pay a monthly fee. If you didn't get the payout quickly then you have to keep it on your current plan (and if your payout isn't within the first month then you have to pay the second month's fee).
* Close the account after 180 days to avoid the early closing fee of $50. Or you can keep the account.
* The $500 is considered taxable income so you will have to pay state and federal income tax on it. File the tax form the bank gives you. It will be either a 1099-Misc or a 1099-Int. If you did not get a form add it to your 1040.
This promo runs regularly every 1-2 months. In the fine print it states you can't get a bonus if you had a account within the past year. So you can do this again the next year on the day you closed your account. This is called "churning".
Edit: You have to use the exact same information that you used in ReferLive for M&T Bank in order to get the $50 giftcard. They will crossmatch the information between ReferLive and M&T Bank and that's how they know whether it's a successful referral. If I recall correctly, the link is not a tracking link. Moreover, you will have to pay taxes on the $50 visa giftcard because it is considered a gift certificate of cash. You will have to add it as additional income under your 1040 tax form.
Just don't want to put the $500 bonus at risk for a measly extra 10%.
Just don't want to put the $500 bonus at risk for a measly extra 10%.
"Cash bonus offers are not available to customers who have already received a bonus credited to a personal M&T checking account within the last 12 months (Refer Friends Program is excluded from this 12-month period)."
"Cash bonus offers are not available to customers who have already received a bonus credited to a personal M&T checking account within the last 12 months (Refer Friends Program is excluded from this 12-month period)."
"Cash bonus offers are not available to customers who have already received a bonus credited to a personal M&T checking account within the last 12 months (Refer Friends Program is excluded from this 12-month period)."
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And now even bank to bank is not available !!!
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