M&T Bank Review: Checking, Savings and CDs

Profile photo of Tony Armstrong
Written by Tony Armstrong
Lead Assigning Editor
Profile photo of Alice Holbrook
Edited by Alice Holbrook
Assigning Editor
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M&T Bank

    Overall institution rating


    NerdWallet rating 
    The bottom line:

    M&T Bank is a large regional bank with hundreds of branches in New York and on the East Coast. 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 for: People looking for a free checking account with decent ATM access and aren’t concerned with earning high interest rates.


    • No monthly fees on one checking account.
    • Overdraft buffer.
    • Solid regional branch network.
    • Low minimum opening deposits on some checking accounts.


    • Low rates on savings accounts.
    • Monthly fees on savings and some checking accounts (though they are avoidable).
    • Cannot open some accounts online.


    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, banking 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.