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  M&T Bank My Choice Premium Checking

M&T Bank My Choice Premium Checking

in Checking Accounts from M&T Bank · Member FDIC

Unaffiliated

M&T Bank My Choice Premium Checking

Unaffiliated

in Checking Accounts from M&T Bank · Member FDIC

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Highlights
Highlights
Monthly Fee $0 - $24.95
ATM Fee: Out-of-Network $3
Minimum Balance to Avoid Monthly Fee $7,500
APY (Annual Percentage Yield) 0.01% - 0.05%

M&T Bank My Choice Premium Checking Review

M&T Bank My Choice Premium Checking is offered by M&T Bank, a bank founded in 1856 and based in Buffalo, NY. M&T Bank My Choice Premium Checking is available in 8 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.05%.
  • Charges a monthly fee. This account charges a monthly maintenance fee of up to $24.95, but the fee is waived if you keep a minimum balance of $7500.
  • $25 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • No ATM fees. M&T Bank My Choice Premium Checking does not charge fees on ATM transactions.
  • Free bill pay. Pay your bills to practically anyone in the United States through M&T Bank.
  • Hard credit pull. M&T Bank may require a hard pull on your credit report to open a checking account.
M&T Bank My Choice Premium Checking Pros & Cons
Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Only available in 8 states.
  • Monthly service charge.
  • Charges a higher than average fee on out-of-network ATM transactions.
M&T Bank My Choice Premium Checking FAQ

Are checking accounts from M&T Bank federally insured?

Yes, your M&T Bank checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does M&T Bank My Choice Premium Checking offer?

M&T Bank My Choice Premium Checking offers an APY starting at 0.01% and ranging up to 0.05% (APY stands for annual percentage yield, rates may change).

M&T Bank My Choice Premium Checking Rates and Terms
Rates Amount
APY (Annualized Percentage Yield) 0.01% - 0.05%

What are the account minimums for M&T Bank My Choice Premium Checking?

M&T Bank My Choice Premium Checking requires a minimum initial deposit of $25 to open an account.

M&T Bank My Choice Premium Checking Account Minimums
Description Amount
Minimum Initial Deposit $25
Minimum Combined Balance to Avoid Monthly Fee $25,000
Minimum Balance to Avoid Monthly Fee $7,500

What fees does M&T Bank My Choice Premium Checking charge?

The good news is that this account does not have a monthly service charge.

M&T Bank My Choice Premium Checking Fees
Description
Monthly Fee $0 - $24.95
Paper Statement Fee $0
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $3
NSF Fee $38.50
Overdraft Protection Fee (per transfer) $0
Overdraft Item Fee $38.50
Early Account Closure $50
Returned Deposit Fee (Domestic) $20
Debit Card Replacement Fee $0
Bank Teller Fee N/A
Check Cashing Fee N/A
Online Bill Pay Fee $0
Stop Payment Fee $35
Check Image Service N/A
Check Copy N/A
Foreign Transaction Fee (Debit Card) 3%
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Returned Deposit Fee (International) $20
Wire Transfer Fee - Domestic (Incoming) $0
ATM Reimbursement Monthly Limit N/A

What features and perks does M&T Bank My Choice Premium Checking offer?

This account includes the following features:

  • Fraud monitoring - M&T Bank My Choice Premium Checking monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
  • Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - M&T Bank My Choice Premium Checking allows you to manage your money online. This includes depositing checks in your account with your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 8 states and Washington, D.C.
  • Connecticut
  • Delaware
  • Washington, DC
  • Maryland
  • New Jersey
  • New York
  • Pennsylvania
  • Virginia
  • West Virginia

Feature Breakdown

Minimum Combined Balance to Avoid Monthly Fee $25,000
Minimum Initial Deposit $25
Minimum Balance to Avoid Monthly Fee $7,500
ATM Fee: In-Network $0
Debit Card Replacement Fee $0
Online Bill Pay Fee $0
Overdraft Protection Fee (per transfer) $0
Paper Statement Fee $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - International (Outgoing) $0
Early Account Closure $50
Foreign Transaction Fee (Debit Card) 3%
Monthly Fee $0 - $24.95
NSF Fee $38.50
Overdraft Item Fee $38.50
Returned Deposit Fee (Domestic) $20
Returned Deposit Fee (International) $20
Stop Payment Fee $35
ATM Fee: Out-of-Network $3
Bank Account Features
  • No ATM Fees
  • IRAs
  • FDIC Member
  • Branch Access
  • Bauer Financial A+/A Rating
  • Debit Card
  • Free Bill Pay
  • Fraud Monitoring
  • Mobile Banking
  • Nationwide ATM Network
  • Interest Bearing Account
  • No Monthly Maintenance Fee
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0.01% - 0.05%

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