|APY||0.06% - 0.45%|
M&T Bank MyChoice Money Market Account Review
M&T Bank is based in Buffalo, NY. It was founded in 1856 and offers its money market accounts in 9 states (and Washington, DC).
If you're considering a money market account and want to know whether M&T Bank MyChoice Money Market Account is right for you, read on.
Is M&T Bank MyChoice Money Market Account insured by the FDIC?
FDIC insured. M&T Bank MyChoice Money Market Account is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in money market accounts up to $250,000 per depositor if a member institution fails.
What are the M&T Bank MyChoice Money Market Account rates?
M&T Bank MyChoice Money Market Account offers an APY starting at .06% and ranging up to .45% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1.
|APY (Annualized Percentage Yield)||.06% - .45%|
What are the M&T Bank MyChoice Money Market Account fees?
M&T Bank MyChoice Money Market Account does not charge a monthly maintenance fee. 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.
Federal regulations limit the number of transactions you can make from your money market account to six per month.
|Monthly Fee||up to $15|
|Paper Statement Fee||N/A|
|Excess Transaction Fee||$12.50|
What is the minimum balance for M&T Bank MyChoice Money Market Account?
No minimum initial deposit. M&T Bank does not require a minimum initial deposit to open an account.
Monthly maintenance minimum balance of $2,500. You can avoid the monthly fee if you keep a minimum balance $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 MyChoice Money Market Account offer?
This account does not seem to offer any of the features and perks we track.
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.
- Washington, DC
- New Jersey
- New York
- West Virginia
M&T Bank Money Market Accounts
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