M&T Bank – A Regional Bank With A Broad Reach In The East

M&T Bank boasts more than $120 billion in assets and operates more than 690 branches in the Eastern United States. It is also FDIC-insured.
Written by Dan Rafter
Financial Expert
Managing Editor
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M&T Bank provides plenty of branches and ATMs for customers living and working in the Eastern United States. This regional bank operates a network of more than 690 branches in New York, Pennsylvania, Maryland, Washington D.C., Virginia, West Virginia and Florida. It also gives customers access to more than 1,500 ATMs. In addition, M&T Bank is FDIC-insured.

M&T is a full-service bank, offering a range of savings, checking and money market accounts in addition to mortgages, auto loans and wealth-management services. None of the bank’s products stand out when it comes to rates and options — but if you are looking for an Eastern-based financial institution offering convenience, M&T is a solid choice.

Checking accounts

M&T Bank has a number of checking account options for customers. All of them come with monthly maintenance fees — but these fees are fairly easy to avoid.

EZChoice Checking:

The bank’s EZChoice Checking is a no-frills, basic account with a monthly maintenance fee of $6.95.

  • Avoid monthly maintenance fees: To avoid the $6.95 monthly maintenance fee, you only have to make one or more transactions each monthly cycle. Those transactions can include a deposit, withdrawal, payment with check or any debit payments.

MyChoice Plus Checking:

The MyChoice Plus Checking account includes some important extra benefits beyond the basic checking account but has a monthly maintenance fee of $14.95:

  • No ATM fees: M&T Bank won’t charge MyChoice Plus customers fees at ATMs located outside the M&T network.
  • Earn interest: You can earn interest on your balance. Interest is compounded daily and paid monthly.
  • Avoid monthly maintenance fees: To avoid the $14.95 monthly maintenance fee, you’ll have to keep an average daily balance of $2,500 or more during every monthly cycle or make direct deposits to your MyChoice Plus checking account totaling at least $1,500 in every cycle.

MyChoice Premium Checking:

This premium checking account comes with a monthly maintenance fee of $24.95.

  • Better interest rates: TheMyChoice Premium offers somewhat higher interest rates and special rates on M&T CDs, loans and money market accounts; however, this requires larger balances as well.
  • Avoid monthly maintenance fees: You can avoid the $24.95 monthly maintenance fee by keeping an average daily balance of $7,500 or more or a total combined balance of $25,000 or more in personal deposit accounts, loans and home equity balances.

Savings accounts

Like most larger banks, M&T also gives customers their choice of several savings options — savings accounts, money market accounts, and certificates of deposit (CDs).

Relationship Savings account:

The bank’s basic savings account, its Relationship Savings account, features:

  • Online access: This makes the savings account compatible with the bank’s direct deposit and M&T Easy Save, which allows automatic transfers between M&T accounts.

For children under 18:

The M&T Starter Savings Account is designed for children under 18. The goal is to teach children how to manage their money and build their savings.

  • No fees: There are no monthly maintenance fees with this account.
  • No minimum to open: In addition, there is no minimum balance requirement to open the account.

Money market accounts

  • The M&T e-Money Market account also comes with no monthly maintenance fee and online access.
  • The MyChoice Money Market account is similar but has higher interest rates and allows customers to write checks against it.

Certificates of deposit (CDs)

M&T also offers certificates of deposit that come with terms of 32 days to 72 months. Customers can choose from fixed or variable rates with their CDs.


M&T Bank Corporation got its start in 1856 in Buffalo, New York. That’s when Pascal Paoli Pratt and Bronson Case Rumsey began discussing the need for a new bank that could finance durable manufacturing equipment. In March of that year, 13 founding stockholders of M&T Bank — back then called Manufacturers and Traders Bank — held their first meeting at the American hotel in Buffalo. The bank’s first president earned a salary of $1,000 a year. That president, Henry Martin, held the job for 29 years.

Today, M&T Bank Corporation boasts more than $120 billion in assets.

About Author
Dan Rafter
Dan Rafter, a valued contributor at MoneyRates, brings many years of expertise in the financial sector. Specializing in areas like credit scores, lending, mortgages, and credit cards, Dan has an innate ability to simplify complex financial concepts for his readers. His insightful articles have appeared in numerous print and digital publications, making him a trusted voice in the financial community. Residing in the Chicago area, Dan continues to offer knowledge and guidance for those navigating the world of finance.
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