About M&T Bank
The Manufacturers and Traders Trust Company was founded in 1856 in Buffalo, New York. M&T Bank, as it is presently known, acquired a number of banks throughout the 20th century and has grown to more than 700 branches in twelve states throughout the Eastern United States.
M&T Bank Overview
M&T Bank is a mid-sized regional bank that operates in the Eastern United States. The bank has more than 700 branches in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, and Washington, D.C. M&T Bank also has more than 1,800 ATMs throughout the states it operates in. The bank offers a wide variety of banking products, such as CDs, checking, money market, and savings accounts.
| All CDs offer competitive APYs. | Some CDs must be opened in-branch. |
| More than 1,000 branches throughout the Eastern U.S. | All non-CD accounts offer below-average APYs. |
| Most non-CD accounts have low minimum opening deposit requirements. | Some non-CD accounts require high balances to waive the monthly service charges. |
| Most monthly service charges can be waived by meeting certain balance requirements. | |
| Free checking account available. |
M&T Bank Product Offerings
CDs
A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. M&T Bank offers a limited number of CDs with terms varying from six months up to two years. All CDs require a $1,000 minimum opening deposit, and all offer competitive APYs. Here are some of their best CD offerings for the month! and 2025:
Checking Accounts
A checking account is a transactional account for everyday expenses. You can use it to make purchases, write checks against the account to pay bills, etc. M&T Bank offers several different business and personal checking accounts. Most of the accounts offer APYs below the national average of 0.01% for checking accounts. Most accounts have little to no minimum opening deposit requirements, but many assess a monthly service charge that can be waived by maintaining a relatively high balance. Here are the latest account details for April 2025:
Money Market Accounts
A money market account is an interest-bearing hybrid between a savings account and a checking account. M&T Bank offers one business money market account. Here are the account details for April 2025:
Savings Accounts
A savings account is a type of bank account that allows you to save your money while earning interest. M&T Bank offers several business and personal savings accounts, two of which are high-yield savings accounts. Most accounts have no minimum opening deposit requirements, most have monthly service charges, and all do not have any withdrawal penalties. Here are the latest savings account details for April 2025:
Bank Fees
Overdraft fee: $15 per day (maximum of one fee per day) on personal checking accounts, even if multiple transactions overdraw the account
Non-sufficient funds fee: $15
Savings and Money Market Account withdrawal fee: None
Account closure fee: $50 (for personal checking accounts)
Non-network ATM fee: None; $2 per transaction rebated, or full fee amount for accounts opened in New Jersey
Stop Payment fee: None
Monthly service charge: $5-$24.95 depending on the type of account
Paper statement fee: $3-$7 depending on the type of account
M&T Bank Features
M&T Bank's customer service line is available Monday through Friday from 8 a.m. to 9 p.m. EST and on weekends from 9 a.m. to 5 p.m. EST. The bank offers an automated telephone line that is available 24 hours a day, 7 days a week, for basic account information and changes. Customers have fee-free access to more than 1,800 ATMs available in the states the bank operates in. The bank also offers a mobile app to process transactions and manage your bank account.
M&T Bank FAQs
Our Take
M&T Bank is a large regional bank headquartered in Buffalo, New York, that operates more than 700 branches in twelve states in the Eastern U.S. The bank doesn't offer too many CDs, and some CDs are state-specific, but they all come with competitive rates. As far as checking and savings accounts go, customers have a wide variety of options for both business and personal use. Most accounts do come with monthly service charges, most of which can also be waived by meeting certain balance requirements. Some accounts have relatively high balance requirements, but there are also other accounts that are "free" and open to customers who may not be able to meet the higher balance requirements. As M&T Bank is a larger regional bank with more than 700 branches, it is probably a good option for customers in one of the twelve states the bank operates in. Aside from the CDs, most other accounts are similar to accounts at larger national banks in terms of features, APYs, etc.
Methodology
Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.