THERE’S a way for Americans to get free money this month, so long as they follow some key steps before a looming deadline.
The direct payment comes as part of an offering from M&T Bank this summer as an incentive for select consumers.
Some consumers could get $200 in free cash this summer (stock image)[/caption]
M&T Bank was founded in 1856 and remains one of the top full-service commercial banks in the United States today.
It has more than 960 branches nationwide, at least 2,000 ATMs, and over $200 billion in assets, per a earnings report from earlier this spring.
Customers interested in opening a MyChoice Premium Checking Account with M&T Bank could get a $200 sign-up bonus.
Except, the sweet deal expires on July 31, so quick action is required.
The first step would be heading to M&T Bank’s website and opening the MyChoice Premium Checking Account online or scheduling an appointment at a nearby branch.
New customers must make a minimum of a $25 opening deposit balance and be 18 or older.
After completing the sign-up before the deadline, those who get the MyChoice Premium Checking Account must then make at least $500 worth of direct deposits into it within the first 90 days of it opening.
Then, the $200 bonus is automatically deposited.
PERKS AND PAINS
Along with the free cash, there are several other perks offered with the MyChoice Premium Checking Account with M&T Bank.
Not only is the minimum starting deposit fairly low, but the account earns interest and there’s no out-of-network ATM fees.
MyChoice Premium Checking Account holders also get discounted loan rates and safety deposit boxes.
There’s even a no fee for overdraft protection transfers.
Some downsides include a low ATM fee reimbursement and a monthly maintenance cost of $24.95.
Except, that maintenance fee can be waived if account holders maintain an average daily balance of $7,500 or more per month.
Top 10 Bank Sign-Up Bonuses
- E-Trade from Morgan Stanley: Up to $10,000
- Chase Private Client Checking: Up to $3,000
- Flushing Complete Checking: Up to $2,500
- Wells Fargo Premier Checking: Up to $2,500
- Capital One 360 Performance Savings Account: Up to $1,500
- Citi Checking Account: Up to $1,500
- Huntington Business Checking Account: Up to $1,000
- Chase Total Checking and Chase Savings: Up to $900
- Huntington Bank Platinum Perks Checking: Up to $600
- Associated Bank Checking Account: Up to $600
Source: MarketWatch
A total combined daily average balance of $25,000 across all M&T Bank accounts would also qualify.
M&T Bank also isn’t the only one offering chances at free money to sign up for checking and savings accounts this summer.
CHASE CASH
Chase Bank customers could get as much as $500, and there’s no deadline to apply.
Much larger than M&T Bank with around $3.5 trillion in assets, Chase Bank offers at least eight different checking accounts and several savings accounts.
After customers open the account that works from them and are satisfied with what the financial institution offers, they’ll be sent a referral code with a personalized link.
Should a family member or friend use the personalized link and sign up for their own account, the initial account holder would be awarded $50.
A maximum of 10 people per year can use the link, meaning a potential $500 bonus.
American Express was also offering $250 in free cash earlier this year.
Competitors like Citibank are doing the same with a $325 bonus.
