Author Archives: Andy Shuman

The M&T Bank $300 Bonus Offer (No Direct Deposit Required)



M&T Bank $300

I don’t usually cover bank bonuses – that’s DoC’s purview, and he’s quite thorough about it. However, this $300 bonus from M&T Bank caught my attention for 2 reasons.

1. It’s free money

2. No direct deposit is required

Now, I know not everyone shares my hatred for this particular hoop banks usually want us to jump through – the direct deposit requirement. It’s not that hard to set up a direct deposit, right? Well, when you churn banking bonuses, you probably don’t want more complications in your life than you already have, or, at least, I don’t. Which is why, I think this bonus is OK. Not spectacular, but just OK if you want an easy $300.

The M&T Bank $300 bonus terms

Here is what you’d need to do to get the $300 bonus:

  • Open a new MyChoice Premium Checking account by September 28, 2018

  • Deposit $10,000 or more by September 28, 2018

  • Maintain a $10,000 average daily balance in October and November 2018

  • Receive $300 cash bonus by December 31, 2018

Reading the terms and conditions, I don’t see anything about direct deposits being a part of the deal.

The M&T Bank $300 bonus terms gotchas

  • $300 cash bonus is not available for accounts opened online (not sure if it means that you can open over the phone).

  • The MyChoice Premium Checking account costs $24.95 a month (avoidable if you maintain the average $7,500 monthly).

  • You’ll tie up $10,000 for 2 months, and 7,500 for the third month.

  • You’ll be hit with an early termination fee of $50 if you close your account within the first 6 months (I’d take the hit rather than tie up my money for another 3 months).

I received the offer in the email. There is no direct link, and are no special codes, so I presume it’s a public offer, and everyone is eligible, so you can call or visit the branch and mention the $300 bonus for opening a new MyChoice Premium Checking account. The M&T Bank operates in the following states:

  • Connecticut

  • Delaware

  • District of Columbia

  • Florida

  • Maryland

  • New Jersey

  • New York

  • Pennsylvania

  • Virginia

  • West Virginia

I have no idea whether it would or wouldn’t work for out-of-state customers.

The Phone Number is: 877-794-2373

How does the M&T Bank $300 bonus compare to other M&T offers?

Unfavorably, if you don’t count the lack of direct deposit requirement. This M&T Bank $250 offer is better if you don’t mind the $500 – $1,500 direct deposit for the first 3 months. See which of these offers works better for you.


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