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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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Advertiser Disclosure: Many of the savings offers appearing on this site are from advertisers from which this website receives compensation for being listed here. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). These offers do not represent all deposit accounts available.