M&T Bank [mtb.com] is offering their
M&T Checking Account Offer: Open An Eligible Account + Enroll in Direct Deposit & Make Qualifying Direct Deposits totaling at least $1000 (within 90-days of account opening) with promo code
TV and
earn $500 Cash Bonus credited to your account or when you follow the instructions listed below.
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 eligible checking accounts via the promotional page: M&T Bank: MyChoice Premium or MyChoice Plus.
Deal Instructions:- Click this link here [mtb.com]
- Open a qualifying M&T Bank Checking Account via online [mtb.com] or at any branch [mtb.com] by November 30, 2024 using promo code TV
- Set up your direct deposits by enrolling and make a qualifying direct deposits totaling at least $1000 within 90 days of account opening
- Your $500 cash bonus will be credited within 90 days of the account receiving the qualifying direct deposits
Notes and Credits:- Promotional period is between 10/28/24 and 11/30/24.
- Available in CT, DC, DE, MD, NJ, NY, PA, VA, WV and potentially others. Input ZIP code into website to see whether you are eligible.
- Sign up bonuses count as taxable income and are subject to federal and state income taxes. They will be taxed according to the tax bracket you are in after accounting for the sign up bonus.
- Minimum Deposit to open MyChoice Plus Checkings or MyChoice Premium Checkings is $25.
- MyChoice Plus Checkings has a monthy fee of $14.95 or $0 if you maintain an average daily balance of $2,500 or more per monthly service charge cycle.
- MyChoice Premium Checkings has a monthly fee of $24.95 or $0 if you maintain an average daily balance of $7,500 or more per monthly service charge cycle.
- A $50 early close-out fee applies if the account is closed within 180 days of opening.
- 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.
- Some bank transfers and online transfers may qualify as direct deposits. Click here [doctorofcredit.com] to see which banks and companies code their transfers as direct deposits for M&T Bank.
- 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).
23 Comments
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Note: I would not pull out the money immediately. I have seen a comment in the Doctor of Credit article that M&T closed their account after they pulled money out directly after the bonus hit. I would wait around a week then pull the money out. Also in order to transfer money, you will have to activate your debit card that you get in the mail.
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- Sign up to ReferLive (this is NOT signing up for a checkings account) via a referral link to get a $50 visa giftcard. Just search one up online there are many out there.
- 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.
- Some electronic transfers and bank transfers can qualify. See the list of which bank transfer are coded as direct deposits for M&T Bank: https://www.doctorofcre
- Once you have "direct deposited" aka transferred funds from a eligible bank or company, you should get the bonus within a couple of days. Many have reported getting the payout within 2-3 days. I personally got the payout in 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".
Note 1: The bonus and the referral offer do stack. 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 cross-match the information between ReferLive and M&T Bank and that's how they know whether it's a successful referral. 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.
Note 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.
Do you think I can open another checking account with this new code since my location now qualifies for the offer?
Do you think I can open another checking account with this new code since my location now qualifies for the offer?
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They change bonus terms and availability afterwards. They send additional document requests that require in-branch visits. Great if it's smooth, a pain if it's not.
Last time they needed an in-branch visit with my SS card. This is after I already had an account open with them.
Also, is it possible to sign up ReferLive after opening account at M&T?
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