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Axos Bank vs M&T Bank

Axos Bank is a full-service online bank with excellent cashback and interest checking. How does it compare to M&T Bank? Read our comparison chart below.

Axos Bank offers a range of checking and savings products. Checking options includes a up-to 1% cashback account and rewards checking account with a higher interest rate. Savings options include savings accounts and CDs with higher-than-average rates. All accounts have no monthly service fees.

While M&T Bank has 690 branches serving the Upper East Coast and Florida. Offers a no-fee checking, as well as interest checking but with heavier requirements to waive service fees. Select Promo CD offers high rates for terms up to 36 months with a $1,000 minimum opening deposit.

Compare Axos Bank with M&T Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Axos Bank
Member FDIC
 Visit SiteLearn More
 

Axos Bank

M&T Bank

SPECIAL OFFER
Rewards Checking - Up to 3.30% APY - Learn More

Read Axos Bank Review

SPECIAL OFFER
Referral Program - Up to $500 Bonus - Learn More

Read M&T Bank Review

 

Benefits and Features

Savings0.61% APY (balances under $25k); 0.25% APY ($25K-$100K); 0.15% APY ($100k and over)0.01% APY. Monthly service fee of $7.50 unless you 1) maintain a minimum daily balance of $500 or more or, 2) have a personal checking account with M&T Bank or, 3) make at least one deposit in your Relationship Savings account
CD0.20% APY. Terms of 3 months to 5 years. $1,000 minimumTerms from 32 days to 120 months. Minimum opening deposit $1,000.
CheckingRewards Checking: Up to 3.30% APY
Cashback Checking: Up to 1% cashback
 
Money Market
0.25% APY
 
Mobile App
iOS & Android
 
ATMsApproximately 91,000 partner ATMsMore than 1,800 M&T Bank ATMs in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia.
Customer Service
24/7
Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET).
Locations
Online only
700 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida
 

CreditDonkey® Reviews

 Axos Bank
SavingsStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
CDStarStarStarEmpty StarEmpty StarStarStarStarEmpty StarEmpty Star
CheckingStarStarStarStarStarStarStarStarStarEmpty Star
Money MarketStarStarStarStarHalf StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarHalf StarEmpty Star
ATMsStarStarStarStarHalf Star
LocationsStarStarEmpty StarEmpty StarEmpty Star
Customer ServiceStarStarStarStarEmpty Star
Pros & ConsPros:
  • Checking with rewards
  • No monthly fee
  • Domestic ATM rebates
Cons:
  • Low CD rates
  • No physical branches
Pros:
  • Free checking option
  • High APY for Promo CD
  • Free savings with checking
Cons:
  • Fee heavy
  • Subpar savings APY
  • Limited branches
Bottom LineFull-service online bank with excellent cashback and interest checking... Read full reviewUpper East Coast bank with free checking option and good promo CD rates... Read full review
 Visit SiteLearn More

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Axos Bank: Pricing information from published website as of 05/14/2024.

M&T Bank: Pricing information from published website as of 05/14/2024 based on 14203 zip code

Axos Bank
Member FDIC

Rewards Checking - Up to 3.30% APY

Expires 6/30/2024
  • Use the promo code AXOS300 when you apply for a Rewards Checking account by June 30th, 2024. Then have qualifying direct deposits to earn up to a $300 bonus!†
  • Build your own APY with up to 3.30% APY*
  • Zero monthly maintenance fees
  • Zero overdraft or NSF fees
  • Zero minimum monthly balance reqs
  • No initial deposit requirement
  • Unlimited domestic ATM fee reimbursements
  • Online debit card management
  • Simple, 3-step process for direct deposit
Axos Bank
Member FDIC

Basic Business Checking - Up to $400 Bonus

Expires 6/30/2024
  • Business owners get up to $400 welcome bonus!*
  • Open a business checking account by June 30 and get up to $400 when you use promo code NEW400 on your application.*
  • No initial deposit requirement
  • No minimum balance requirement
  • No monthly maintenance fees
  • Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
  • Unlimited domestic ATM fee reimbursements
  • Unlimited item processing (debits, credits, and deposited items)
  • Cash deposits via MoneyPass and AllPoint networks
Axos Bank
Member FDIC

CashBack Checking - Earn up to 1.00% Cash Back

  • Earn up to 1.00% cash back on signature-based purchases
  • Unlimited domestic ATM fee reimbursement
  • No monthly maintenance fee
  • $50 minimum balance required to open account

Which is Better: Axos Bank or M&T Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Axos Bank or Chase.

In short: Axos Bank's savings, checking, money market, and mobile app are notable. In particular, the checking is excellent.


Articles on Axos Bank

Axos Bank Review

Axos Bank offers full-service banking completely online with no fees. Find out below whether they can replace your traditional bank account.

Axos Business Checking

Looking for affordable banking for your small business? Axos Bank offers a free business checking account or an interest-bearing account. Read on.

Is Axos Bank Safe

Is Axos Bank safe and legit? Find out if Axos is a good bank and learn more about its pros, cons, and common complaints.

Articles on M&T Bank

M&T Bank Review

If you are on the upper East Coast, you probably see M&T Bank frequently. With a free checking option and a range of deposit accounts, does it meet your needs?

Which Do You Think is Best?





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About CreditDonkey
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Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

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