M&T Bank Review 2025
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At a glance
Overview
M&T Bank is best for people who prefer in-person banking and live on the East Coast where there are branches. This regional bank’s offerings include a checking account with no monthly service fee, and some of its CDs earn competitive rates. If you’re looking for a high-yielding savings account, however, you’ll need to open an account elsewhere.
Highlights:
Free CheckingHighlights:
CDs
Checking
Savings
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.2/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Headquartered in Buffalo, New York, M&T Bank is the 17th largest bank in the U.S. based on assets. It maintains more than 750 branches in 13 Eastern states as well as the District of Columbia.
M&T Bank offers three savings accounts, four checking accounts and CDs. It also features investment, insurance, credit card and loan products in its product arsenal. However, money market accounts are no longer available.
Pros
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M&T Bank offers several banking products to meet customers on every step of their financial journey.
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You can open a checking account with no monthly maintenance fee or minimum balance requirement.
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Its CDs come with APYs that are higher than what other brick-and-mortar banks offer.
Cons
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Other brick-and-mortar banks feature savings accounts with more competitive yields.
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Some of the accounts can be opened online, while others need to be opened at a branch.
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Physical branches and ATMs are only available in select states.
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M&T Bank banking products
M&T Bank savings overview
Pros
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The Premium Savings is accessible with no minimum opening deposit.
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The Relationship Savings account can be linked to an M&T checking account for overdraft protection.
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M&T Starter Savings is available for minors, and it skips the monthly maintenance and minimum balance requirements.
Cons
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The Premium Savings requires a $10,000 daily balance to waive the $20 monthly maintenance fee.
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The Relationship Savings account pays yields below the national average for savings accounts.
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The Relationship Savings account has a $7.50 monthly maintenance fee, unless requirements are met to have it waived.
M&T Bank CD overview
Pros
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You can earn a competitive yield with any term you select.
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The shortest term pays the highest APY.
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You can choose from a 6-, 12- or 24-month term.
Cons
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The minimum opening deposit of $1,000 if higher than you’ll find with some banks.
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You need to have an M&T Bank checking account to open a Select CD.
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You can’t open a CD online with M&T Bank like you can many other banks.
M&T Bank checking overview
Pros
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The EZChoice Checking account charges no monthly maintenance fee and requires just $25 to open.
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There are checking account options for every stage of your financial journey, some with ATM rebates and and overdraft protection.
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All checking accounts offer Zelle, which can be used to send money to friends, family and others.
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Accountholders can make fee-free ATM withdrawals nationwide.
Cons
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Checking accounts at some other banks require no minimum opening deposit.
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An early closure fee of $50 applies if the account is closed within 180 days of opening it.
Bank fees
| Fee | Charged |
|---|---|
| Overdraft fee | $15 |
| Non-sufficient funds fee | $0 |
| Monthly maintenance fee | $0 for EZChoice Checking |
| Out-of-network ATM fee | $3 |
| Excessive transaction fee | $0 |
Customer experience
Customer support
Branch availability: M&T Bank maintains 700 branches in 14 Eastern states and Washington, D.C., as well as 1,800 ATMs.
Customer service: M&T Bank provides support through a general customer service phone number that’s available 24/7.
Digital experience
M&T’s mobile app allows customers to deposit checks, pay bills and transfer funds between M&T accounts. The app receives high ratings in Apple’s App store, while earning mediocre ratings on the Google Play store.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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