M&T Bank Relationship Savings Account

M&T Bank Relationship Savings Account Review

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

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only 0.02%.
• $0 monthly account fees available. This account charges a monthly service fee of up to $7.50, but the fee is waived if you keep a minimum balance of $500.
• No ATM fees. M&T Bank Relationship Savings Account does not charge fees on ATM transactions.

M&T savings account Pros & Cons

M&T savings account FAQ

Are savings accounts from M&T Bank federally insured?

Yes, your M&T Bank savings 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.

Does M&T Bank offer a signup bonus?

M&T savings account doesn't offer a signup bonus.

What is the minimum initial deposit for M&T savings account?

What APY does M&T Bank Relationship Savings Account offer?

M&T savings account offers a variable APY starting at 0.01% and ranging up to 0.02% (APY stands for annual percentage yield, rates may change).

What fees does M&T savings account charge?

M&T savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $500. You can also waive the fee by keeping a combined balance of $500.

• Outgoing domestic bank transfers come with a $32 fee.
• Outgoing international bank transfers come with a $75 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does M&T savings account offer?

This savings account includes the following features:

• Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
• Fraud monitoring - M&T savings account 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 Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - M&T savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to M&T savings account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for M&T savings account?

The customer support email for M&T savings account is ir@mtb.com .