M&T Bank is safe. Its funds are FDIC-insured. The deposits are insured up to $250,000 per depositor, per ownership category, in the unlikely event of bank failure.

What is the minimum balance of an M&T Bank account?

It depends on the account. The EZChoice checking account and M&T Starter savings account don't have a minimum deposit requirement. However, most checking accounts require a $25 minimum deposit.

How much money can you withdraw from M&T Bank on a single day?

You can typically withdraw $1,000 per day. However, withdrawal amounts are impacted by the number of accounts and the relationship you have with the bank.

Does M&T Bank charge a monthly maintenance fee?

There are monthly maintenance fees for some accounts, but these are waivable.

What services does M&T Bank provide?

M&T Bank offers personal, business and commercial services.

Advertiser Disclosure

M&T Bank Review: Community-Minded Full-Service Banking

December 5, 2025

8 min Read

Written by Rudri Patel

Edited by Elizabeth Constantineau

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.

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M&T Checking Accounts
M&T Savings Accounts
M&T CD Accounts
M&T Banking Experience
How Does M&T Compare?
Final Take

4.1

GBR RATING

If you want a free checking with ATM access, M&T Bank will be a good fit for you.

M&T Bank offers a full lineup of financial products and services at somewhat competitive fees and rates. What sets it apart is the community-minded service model, which is not always the standard when it comes to full-service banks.

M&T Bank still bills itself as a community-oriented bank, even as its community keeps expanding due to a series of acquisitions and mergers. The company offers a wide range of checking and savings accounts, as well as loans, retirement accounts, credit cards, debit cards and investment products and services. M&T Bank stands out because it makes banking accessible to all.

M&T Checking Accounts

M&T offers four checking accounts including EZ Choice, MyWay Banking, MyChoice Plus and MyChoice Premium. Here’s a look at some key details:

All of the checking accounts require a $25 minimum deposit.
EZ Choice checking account has no monthly maintenance fee, no minimum balance requirement and no minimum transaction requirements.
The MyChoice Plus account can earn you interest.
MyChoice Premium account offers perks like special deposit interest rates, free standard check orders and discounted personal loan rates.
MyWay, MyChoice Plus and MyChoice Premium have monthly maintenance charges that can be waived by meeting deposit or transaction requirements.

4.6

GBR Rating

M&T Bank Checking Accounts

Start Banking

Best For

Checking Account Options

Waivable Fees

Low Minimum Deposits

Business Banking

Mobile App

No-Fee Checking Option

M&T Bank’s EZ Choice Checking requires only a $25 monthly deposit with no monthly maintenance fee and no minimum balance requirement.

Fees

$0 to $24.95 per month, waivable

APY

Min Opening

$25

Pros

Low minimum deposit
A variety of accounts
Monthly maintenance fees are waivable

Cons

Monthly maintenance fees on many accounts
Geographic limitations

Quick Take

M&T Bank stands out because it offers consumers a variety of checking accounts. Also, for those who want to avoid monthly maintenance fees and minimum transaction requirements, can sign up for an EZ Choice Checking account.

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M&T Savings Accounts

M&T offers three savings accounts, including Starter, Relationship and Premium Savings accounts. Here are key features:

M&T’s Starter account is geared toward savers under 18 since it requires no minimum deposit and no monthly maintenance fee.
M&T Premium Savings allows you to build emergency savings while earning interest. You will have to contact the bank to determine the annual percentage yield (APY).
Both the Premium and Relationship savings accounts offer overdraft protection.
All savings accounts allow direct deposits.

M&T Bank Savings Accounts

Start Banking

Best For

Checking Account Options

Waivable Fees

Low Minimum Deposits

Business Banking

Mobile App

Waivable Monthly Maintenance Charges

M&T offers three savings accounts for various savings needs. The Starters Savings account is particularly appealing to students since there is no minimum deposit amount.

Fees

$0 to $20, waivable

APY

Min Opening

Pros

Overdraft protection is available
FDIC-insured
Flexibility to choose from several accounts

Cons

APYs not advertised online
Savings growth will be minimal
Monthly maintenance charges

Quick Take

M&T offers a savings account for every kind of saver. Just keep in mind that interest is minimal — you may be able to grow your money elsewhere with a higher rate.

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M&T CD Accounts

M&T Bank’s certificate of deposit (CD) options offer higher interest rates than standard savings accounts but there are more restrictions in terms of accessing your funds. Featured CD terms are listed online but you can get more rate information when you contact an M&T Relationship Banker.

You can open a new CD with a minimum deposit of $1,000.
All M&T Bank CDs are FDIC-insured.
Current CD terms are from 32 days to 120 months.
CD setup is relatively easy and can be done in a few minutes.

M&T Bank CD Accounts

Start Banking

Best For

Checking Account Options

Waivable Fees

Low Minimum Deposits

Business Banking

Premium Checking

Reliable Savings With Flexible Terms

M&T Bank offers competitive rates, which make them a reliable source for those who want to lock in their funds for steady growth.

Fees

Early withdrawal penalties may apply

APY

Up to

Min Opening

$1,000

Pros

Interest compounds daily
Promotional CDs may have higher rates
Low minimum deposit

Cons

APYs are not all disclosed on the site
Limited liquidity
Early withdrawal penalties

Quick Take

CDs offer a way for those who have extra cash to save. M&T Bank rates tend to be higher than those of a traditional savings account.

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M&T Banking Experience

M&T Bank’s customer service is very accessible. To contact M&T Bank with general service questions, dial 800-724-2440. For online and mobile banking questions, representatives are available to speak with you during the following times:

Monday to Friday: 8 a.m.to 9 p.m. EST
Saturday and Sunday: 9 a.m. to 5 p.m. EST

You can also schedule an appointment online to see a dedicated Relationship Banker in person at your local branch. Or you can log in to your M&T Online Banking account to send the bank a secure message.

M&T Bank’s mobile app on Google Play is rated as 4.8 out of 5, while in the App Store the rating is 4.9 out of 5.

How Does M&T Compare?

Checking

Savings

CDs

SELECTED BANK

4.6

GBR Rating

M&T Bank Checking Accounts

Start Banking

MOST COMPARABLE

4.3

GBR Rating

PNC Checking Account

Read Review

MOST COMPARABLE

4.7

GBR Rating

KeyBank Checking Accounts

Read Review

Fees

$0 to $24.95 per month, waivable

$7 to $25

$0 to $25, many waivable

APY

N/A

for Key Select Checking

Min Opening

$25

$0 to $50

Fees

$0 to $20, waivable

$5 monthly

APY

Min Opening

$10

SELECTED BANK

M&T Bank CD Accounts

Start Banking

MOST COMPARABLE

3.1

GBR Rating

PNC CD Accounts

Read Review

MOST COMPARABLE

3.0

GBR Rating

KeyBank CD Accounts

Read Review

Fees

Early withdrawal penalties may apply

No monthly service fee

N/A

APY

Up to

Min Opening

$1,000

$250 to $1,000

$2,500

M&T Bank vs. PNC Bank

M&T Bank is located mainly in the mid-Atlantic and Northeast, while PNC Bank has locations in over 27 states. Both offer comparable APYs on savings and CDs both require a minimum deposit of $1,000.

M&T Bank offers up to APY on its CDs and PNC Bank’s highest rate is up to .

M&T Bank vs. KeyBank

M&T Bank doesn’t require minimum opening deposits on its savings accounts, while KeyBank does.

KeyBank also has much higher monthly maintenance fees on its checking accounts than M&T Bank does — up to $50 vs. $25.

M&T Bank vs. Bank of America

M&T Bank has more of a regional presence, while Bank of America, Member FDIC, has multiple nationwide locations. If you have higher balances, Bank of America may be a better fit. M&T Bank has several checking account options and if you prefer a personalized experience, this financial center is ideal for you.

Final Take

If you live in M&T Bank’s service area and can conveniently reach one of its branches or ATMs, there’s plenty to like about M&T: personalized service, a range of checking and savings accounts and numerous loan options.

But if you don’t live near an M&T Bank branch or are in search of higher yields and more investment choices, you might want to consider another bank.

M&T Bank FAQ

Here are the answers to some of the most frequently asked questions about M&T Bank.

Is M&T Bank safe?
- M&T Bank is safe. Its funds are FDIC-insured. The deposits are insured up to $250,000 per depositor, per ownership category, in the unlikely event of bank failure.
What is the minimum balance of an M&T Bank account?
- It depends on the account. The EZChoice checking account and M&T Starter savings account don't have a minimum deposit requirement. However, most checking accounts require a $25 minimum deposit.
How much money can you withdraw from M&T Bank on a single day?
- You can typically withdraw $1,000 per day. However, withdrawal amounts are impacted by the number of accounts and the relationship you have with the bank.
Does M&T Bank charge a monthly maintenance fee?
- There are monthly maintenance fees for some accounts, but these are waivable.
What services does M&T Bank provide?
- M&T Bank offers personal, business and commercial services.

Vance Cariaga, Cynthia Measom and Cynthia Bowman contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 5, 2025.

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

To discover the Top Banks, GOBankingRates looked at the top national institutions (excluding credit unions) with over $100 billion in total assets. To determine rankings, GOBankingRates looked at the following factors: (1) checking product minimum deposit; (2) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (3) savings product minimum deposit; (4) savings product APY; (5) Bauer rating (out of 5 stars); (6) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (7) the average mobile app rating between the Android and Apple app stores. All factors were then scored and combined, with the lowest score being best. Factors (1) and (3) were weighted 0.5 times, factor (4) was weighted 2.5 times, and factor (6) was weighted 1.5 times.

Our in-house research team and on-site financial experts work together to create content that’s accurate, impartial, and up to date. We fact-check every single statistic, quote and fact using trusted primary resources to make sure the information we provide is correct. You can learn more about GOBankingRates’ processes and standards in our editorial policy.