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  M&T Bank Relationship Savings Account

M&T Bank Relationship Savings Account

in Savings Accounts from M&T Bank · Member fdic

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M&T Bank Relationship Savings Account

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in Savings Accounts from M&T Bank · Member FDIC

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Highlights
Monthly Fee $0 - $7.50
APY (Annual Percentage Yield) 0.01% - 0.02%
APY Minimum Balance $1

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 is available in 50 states (and Washington, DC).

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.02%.
  • $0 monthly Service Charge 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.
  • Bill pay. Pay your bills to practically anyone in the United States through M&T Bank.
M&T savings account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • Does not come with a debit card
  • Not FDIC-insured.
  • Higher than average wire transfer fees.
  • Monthly service charge.
  • No ATM access to savings.
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?

M&T Bank Relationship Savings Account Minimums
Description
APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $500
Minimum Combined Balance to Avoid Monthly Fee $500

What APY does M&T Bank offer?

M&T savings account offers an 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?

In most cases, the answer is yes. 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 .

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

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

Other Services by M&T Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $1
Minimum Balance to Avoid Monthly Fee $500
Minimum Combined Balance to Avoid Monthly Fee $500
Monthly Fee $0 - $7.50
Wire Transfer Fee - Domestic (Outgoing) $32
Wire Transfer Fee - International (Outgoing) $75
Bauer Financial A+/A Rating
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.01% - 0.02%

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