M&T Bank Rates & Review

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M&T Bank Review

M&T Bank, established in 1856 as the Manufacturers and Traders Bank, is one of the 20 largest independent bank holding companies in the U.S. Headquartered in Western New York, M&T Bank has branches in eight states.

With current assets of $68.2 billion (as of June 30, 2010), M&T Bank has more than 750 branches, free account access at more than 1,800 M&T Bank ATMs and nearly 14,000 employees located in New York, Pennsylvania, Maryland, New Jersey, Washington D.C., Virginia, West Virginia and Delaware.

Headquartered in Oakfield, New York, M&T Bank has been recognized as one of the top charitable companies in the United States. M&T Bank has also earned the highest Community Reinvestment Act rating since 1982.

Bauer Financial gives M&T Bank a four-star, excellent rating.

Financial products

M&T Bank offers its customers a complete array of bank accounts, including a traditional bank savings account. Customers can choose between a savings account, a money market account and a certificate of deposit (CD) for savings. IRA and Health Savings Accounts are also available.

Customers of M&T Bank can also choose a checking account from a wide range of options, including a Power Checking Account that can be linked to a Power Money Market Account so that preferred interest rates are earned on both accounts.

Financial services

M&T Bank offers telephone, Internet and mobile banking to customers so they can transfer funds, check balances and pay bills at any time.

Besides opening a bank account, M&T Bank customers can work with bank representatives to create investment, retirement, insurance and education plans. The bank offers loans and credit cards and online trading.

Deposit insurance

M&T Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.

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