New customers have just a few weeks to snag the cash before the promotion expires. Americans looking for an easy cash boost can still pocket $200 from M&T Bank, but the clock is ticking—applications must be completed by Thursday, July 31. The reward is tied to the bank’s MyChoice Premium checking account and hinges on meeting a modest direct‑deposit target.
What you need to open a MyChoice Premium checking account and qualify for the July 31 bonus? First things first: you’ll need to be 18 or older, apply online or in person, and deposit at least $25 at opening. Thinking of switching banks anyway? This could be your moment. Three‑step path to the $200:
- Open a MyChoice Premium checking account with the $25 minimum.
- Receive cumulative direct deposits of $500 or more within 90 days of opening.
- Watch the $200 land automatically in the same account once requirements clear.
That’s it—no promo codes, no hoops.
Direct deposit rules that unlock the free two‑hundred‑dollar reward from M&T Bank this summer
M&T counts payroll, Social Security, pension, and many government benefits as qualifying deposits. However, internal transfers or mobile‑wallet top‑ups won’t pass muster. Wondering whether your gig‑payment app will count? Better plan on a traditional ACH payroll hit to stay safe. Before grabbing the $200 and running, consider what the account delivers day to day:
- Interest on balances—rare for a standard checking product.
- Surcharge‑free access to more than 2,000 M&T ATMs.
- Preferred loan rates for eligible borrowers.
- Complimentary overdraft transfer protection when linked to another M&T account.
- Discounted safe‑deposit boxes for added peace of mind.
Consequently, frequent travelers or anyone juggling multiple M&T products may squeeze extra value from the account long after the bonus posts.
Monthly maintenance fee and the two handy ways you can avoid paying it year‑round
| Monthly fee | Automatic waiver #1 | Automatic waiver #2 |
|---|---|---|
| $24.95 | Keep an average daily balance of $7,500 in the checking account | Maintain a combined average balance of $25,000 across all M&T accounts |
After all, who wants a fee eating into their newfound cash? If meeting either threshold feels unrealistic, compare M&T’s other checking tiers before deciding. M&T Bank’s summertime push is straightforward: open, deposit, and collect.
With just a $25 opening stake and a $500 direct‑deposit hurdle, many workers can secure the $200 before August rolls around. Still, evaluate the ongoing fee waiver requirements, and decide whether MyChoice Premium aligns with your long‑term banking habits.