Last Updated: 04/18/2025
M&T Bank MyChoice Money Market Account
Unaffiliated
in Money Market Accounts from M&T Bank
Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.06% - 0.45%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Balance to Earn APY
$1
Minimum Opening 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 MyChoice money market are available in 50 states and Washington, DC.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 0.45%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $1.
- Charges a monthly fee. This account charges a monthly fee of up to $15, but the fee may be waived if you keep a minimum balance of$2,500.
Pros & Cons of M&T Bank MyChoice Money Market Account
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M&T Bank MyChoice Money Market Account FAQ
Are money market accounts from M&T Bank federally insured?
Yes, your deposits are insured 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 MyChoice money market rates?
M&T MyChoice money market offers an APY starting at 0.06% and ranging up to 0.45% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.06% - 0.45% |
What are the fees for M&T Bank MyChoice 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.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 - $15 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for M&T MyChoice money market?
No minimum initial deposit. M&T Bank does not require a minimum initial deposit to open an 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 MyChoice money market offer?
This account includes the following features:
- Check Writing - M&T MyChoice 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 MyChoice money market allows you to manage your money through online banking and a dedicated mobile app.
What is the customer service phone number?
The customer service number for this account is (800) 724-2440.
What is the support contact email?
The support contact email for this business credit card is ir@mtb.com .
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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Hours of Operation
Sunday
Closed
Monday
9:00AM - 4:00PM
Tuesday
9:00AM - 4:00PM
Wednesday
9:00AM - 4:00PM
Thursday
9:00AM - 4:00PM
Friday
9:00AM - 4:00PM
Saturday
Closed