M&T Bank Money Market Account
M&T Bank Money Market Account
in Money Market Accounts from M&T Bank · Member FDIC

M&T Bank Money Market Account

in Money Market Accounts from M&T Bank · Member FDIC
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APY (Annual Percentage Yield) 0.02%
Minimum Balance to Earn APY $1
Minimum Opening Deposit Starting at $2,500

M&T Bank Money Market Account Review

M&T Bank Money Market Account is offered by M&T Bank, a bank founded in 1856 and based in Buffalo, NY. M&T Bank Money Market Account are available in 50 states (and Washington, DC).

Key Takeaways

  • Low annual percentage yield (APY). The maximum annual percentage yield for this account is only 0.02.
  • Charges a monthly fee. This account charges a monthly service fee of $15, but the fee is waived if you keep a minimum balance of $2,500.
  • High minumum deposit. You must deposit a minimum of $2,500, which is high compared to most money market accounts.

Pros & Cons of M&T Bank Money Market Account

Pros Cons
  • Available in all 50 states.
  • Deposit checks remotely.
  • No signup bonus.
  • Does not provide a debit card.
  • Monthly service charge.

M&T Bank Money Market Account FAQ

Are money market accounts from M&T Bank federally insured?

Yes, your deposits 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 are the interest rates for M&T Bank money market rates?

M&T Bank Money Market Account Rates and Terms
Rates Amount
APY 0.02%

M&T Bank money market offers an APY of up to 0.02% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $1.

What are the fees for M&T Bank Money Market Account?

This account charges a monthly maintenance fee of up to $15. You can avoid this fee by maintaining a balance of $2,500.

M&T Bank will charge you a $12.50 fee if you exceed your maximum number of monthly transactions.

M&T Bank Money Market Account Fees
Fees Amount
Monthly Fee up to $15
Paper Statement Fee N/A
Excess Transaction Fee $12.50

What is the minimum balance for M&T Bank money market?

Minimum deposit of $2,500. You must make an initial deposit of at least $2,500 to open this account.

Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $2,500.

Interest rate minimum balance of $1. You must keep the account balance above $1 to earn interest.

What features and perks does M&T Bank money market offer?

This account includes the following features:

  • Check Writing - M&T Bank money market includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
  • Fraud monitoring - M&T Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - M&T Bank money market allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.

What is the customer service phone number?

The customer service number for this business card is (800) 724-2440.

What is the support contact email?

The support contact email for this business credit card is .

How to open an account with M&T Bank

  • Visit the M&T Bank website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $2,500
Minimum Balance to Earn APY $1
Minimum Opening Deposit Starting at $2,500
Monthly Fee $15
Account Features
  • Mobile Check Deposit
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Member FDIC
  • Check Writing
APY (Annual Percentage Yield) 0.02%
Dividend Compounding Frequency Daily
Dividend Payout Frequency Monthly

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