MyChoice Money Market
Save and earn more when you open a money market account – featuring tiered rates – with M&T Bank. Plus you can enjoy the comfort of FDIC insurance up to the maximum applicable limit, all while you have convenient access to your money.
Top Features
- Tiered interest rates
- Premium interest rates available for qualifying customers
- Conveniently access and manage your account
- Online or on your phone with M&T Online & Mobile Banking.
- At an M&T Bank branch or ATM
- Check writing capability
- Take advantage of tools that may help keep you informed and in charge of your accounts
- Overdraft Protection (when linked to an M&T checking account)
- M&T Alerts
- Electronic Statements and Notices
- Combined Statements
- Compatible with Direct Deposit and M&T's Easy Save, a feature that allows automatic transfers between M&T accounts – so you can save more
Fees
| How to Avoid the Monthly Maintenance Charge | No monthly maintenance charge for MyChoice Premium Checking, Power Checking or Advantage Checking Account customers or when you keep a minimum daily balance of $2,500 |
| Monthly Maintenance Charge | $15 unless either of the above requirements is met |
Is this product right for you?
This product is best for people who:
- Want to avoid the monthly maintenance charge by keeping a minimum daily balance of $2,500 or have an eligible M&T checking account
- Enjoy the convenience of branch, online and mobile account management
Additional Options
To Qualify for the premium interest rate. A Premium interest rate is available for MyChoice Premium Checking or Power Checking customers who complete three qualifying customer-initiated transactions in that checking account’s most recently completed monthly service charge cycle.
Interest Rates
Interest is compounded daily and paid monthly.
*This is a variable-rate account, and the rate may change at any time except during the introductory period. All interest rates by balance tiers and Annual Percentage Yields (APY) stated are accurate as of today's date. The minimum balance to earn the advertised Annual Percentage Yield is $1.00. Fees could reduce earnings on the account. Offer not available for non-personal accounts. Rates differ by region.
Introductory Interest Rate: The Introductory Interest Rate will apply during the first 6 months after the account is opened.
Regular Interest Rate: This standard rate will apply if you do not qualify for introductory or premium rates.
Premium Interest Rate: On the last day of each monthly interest payment cycle, we will determine whether your account will receive the Regular Interest Rate or the Premium Interest Rate. To qualify to earn the Premium Interest Rate, you must have an eligible M&T Checking account and make 3 or more qualifying customer-initiated checking transactions during that account’s most recently completed monthly service charge cycle.
On the day your MyChoice Money Market is opened and on the last day of each monthly interest payment cycle, we will determine whether your account will receive the Regular Interest Rate or the Premium Interest Rate (both of which may change daily) during the upcoming monthly interest payment cycle. To qualify for the Premium Interest Rate, you must (1) have a MyChoice Premium Checking or Power Checking and (2) have made three or more qualifying customer-initiated transactions in that checking account during that account's most recently completed monthly service charge cycle. Qualifying customer-initiated transactions include deposits, withdrawals, M&T Online and Mobile Bill Pay transactions, automatic payments, debit card purchases and payments and direct deposits. Transfers and payments to other accounts at M&T Bank (including loans and lines of credit) are excluded. Reversals of transactions will be netted against the qualifying transactions. Transactions cannot be aggregated across multiple checking accounts for purposes of meeting this requirement. (Note: If your MyChoice Premium Checking has been open for less than one monthly service charge cycle on any day we determine the applicable interest rate, your MyChoice Money Market Account will receive the Premium Interest Rate during the upcoming monthly interest payment cycle.)
Fees apply for the use of overdraft services as noted in the Specific Feature and Terms for each account and also the Overdraft Protection Service Features and Terms, which are available on request at any M&T Banking office or through the M&T Contact Center.
M&T savings accounts are subject to transaction and service fees, including overdraft fees, as noted in the Specific Features and Terms for each account and also the Additional Fees and Fees for Use of Electronic Banking Card for Consumer Savings Accounts, which are available on request at any M&T banking office or through M&T's Contact Center.
No monthly maintenance charge for MyChoice Premium Checking, Power Checking customer, Advantage Checking OR when you keep a minimum daily balance of $2,500. Regardless of whether a monthly maintenance charge applies, M&T savings accounts are subject to transaction and service fees, including overdraft fees, as noted in the Specific Features and Terms for each account and, also the Additional Fees and Fees for Use of Electronic Banking Card for Consumer Savings Accounts, which are available on request at any M&T banking office or through M&T's Contact Center.
No monthly maintenance charge for MyChoice Premium Checking, Power Checking customer, Advantage Checking OR when you keep a minimum daily balance of $2,500. Regardless of whether a monthly maintenance charge applies, M&T savings accounts are subject to transaction and service fees, including overdraft fees, as noted in the Specific Features and Terms for each account and, also the Additional Fees and Fees for Use of Electronic Banking Card for Consumer Savings Accounts, which are available on request at any M&T banking office or through M&T's Contact Center.
On the day your MyChoice Money Market is opened and on the last day of each monthly interest payment cycle, we will determine whether your account will receive the Regular Interest Rate or the Premium Interest Rate (both of which may change daily) during the upcoming monthly interest payment cycle. To qualify for the Premium Interest Rate, you must (1) have a MyChoice Premium Checking or Power Checking and (2) have made three or more qualifying customer-initiated transactions in that checking account during that account's most recently completed monthly service charge cycle. Qualifying customer-initiated transactions include deposits, withdrawals, M&T Online and Mobile Bill Pay transactions, automatic payments, debit card purchases and payments and direct deposits. Transfers and payments to other accounts at M&T Bank (including loans and lines of credit) are excluded. Reversals of transactions will be netted against the qualifying transactions. Transactions cannot be aggregated across multiple checking accounts for purposes of meeting this requirement. (Note: If your MyChoice Premium Checking has been open for less than one monthly service charge cycle on any day we determine the applicable interest rate, your MyChoice Money Market Account will receive the Premium Interest Rate during the upcoming monthly interest payment cycle.)
The Introductory Interest Rate applies to the entire account balance for accounts with balances of $10,000 and above during the first 6 months after the account is opened. The Introductory Interest Rate will apply during the first 6 months after the account is opened. After the 6-month Introductory Interest Rate period has expired, the interest rate will revert to either the Regular Interest Rate or the Premium Interest Rate.
On the day your MyChoice Money Market is opened and on the last day of each monthly interest payment cycle, we will determine whether your account will receive the Regular Interest Rate or the Premium Interest Rate (both of which may change daily) during the upcoming monthly interest payment cycle. To qualify for the Premium Interest Rate, you must (1) have a MyChoice Premium Checking or Power Checking and (2) have made three or more qualifying customer-initiated transactions in that checking account during that account's most recently completed monthly service charge cycle. Qualifying customer-initiated transactions include deposits, withdrawals, M&T Online and Mobile Bill Pay transactions, automatic payments, debit card purchases and payments and direct deposits. Transfers and payments to other accounts at M&T Bank (including loans and lines of credit) are excluded. Reversals of transactions will be netted against the qualifying transactions. Transactions cannot be aggregated across multiple checking accounts for purposes of meeting this requirement. (Note: If your MyChoice Premium Checking has been open for less than one monthly service charge cycle on any day we determine the applicable interest rate, your MyChoice Money Market Account will receive the Premium Interest Rate during the upcoming monthly interest payment cycle.)
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| MyChoice Money Market Balance Tiers | Introductory Interest Rate | Regular Interest | Introductory Interest Rate | Premium Interest | ||
| Regular Interest Rate | Regular Annual Percentage Yield (APY) | Premium Interest Rate | Premium Annual Percentage Yield (APY) | |||
Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, it is subject to its features, conditions and terms, which are subject to change at any time in accordance with applicable laws and agreements. Please contact an M&T representative for details.