|APY (Annual Percentage Yield)||0.06% - 0.45%|
|APY Minimum Balance||$1|
|Minimum Initial Deposit||N/A|
M&T Bank MyChoice Money Market Account Review
M&T Bank MyChoice Money Market Account is offered by M&T Bank, a bank founded in 1856 and based in Buffalo, NY. M&T Bank MyChoice Money Market Account is available in 9 states (and Washington, DC).
Are money market accounts from M&T Bank federally insured?
Yes, your M&T Bank money market 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 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?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
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