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M&T Bank Review: The Bottom Line

March 29, 2019
Banking, Banks & Credit Unions, CDs, Checking Accounts, Savings Accounts
M&T Bank Review: Appealing features and support — if you can avoid the fees story
At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.
4.0 NerdWallet rating

Where M&T shines:

  • No monthly fee for the EZChoice checking account.
  • More than 1,500 surcharge-free ATMs.

Where M&T falls short:

  • Interest rates on the Relationship Savings account are very low.
  • M&T Bank charges an overdraft fee of $38.50, which is more than what some of the largest banks charge.

Where M&T shines:

  • No monthly fee for the EZChoice checking account.
  • More than 1,500 surcharge-free ATMs.

Where M&T falls short:

  • Interest rates on the Relationship Savings account are very low.
  • M&T Bank charges an overdraft fee of $38.50, which is more than what some of the largest banks charge.

Where M&T shines:

  • No monthly fee for the EZChoice checking account.
  • More than 1,500 surcharge-free ATMs.

Where M&T falls short:

  • Interest rates on the Relationship Savings account are very low.
  • M&T Bank charges an overdraft fee of $38.50, which is more than what some of the largest banks charge.

The bottom line

 

M&T Bank

at M&T Bank,

Member, FDIC

M&T Bank is a large regional bank with hundreds of branches in New York and the mid-Atlantic. If you’re in the neighborhood, it could be a good choice for you. Its savings accounts, however, have the high fees and low savings yields you might expect to find at large national banks. If you’re looking for higher rates, explore NerdWallet’s list of best savings accounts.

Best if: You’re looking for a free checking account with decent access to ATMs.


Ratings methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, bank experience and overdraft fees.

Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.