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.
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| Learn More | Learn More | |
Axos Bank | M&T Bank | |
|---|---|---|
Basic Business Checking - Up to $400 Bonus - | Referral Program - Up to $500 Bonus - | |
Benefits and Features | ||
| Savings | 0.61% 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 |
| CD | 0.20% APY. Terms of 3 months to 5 years. $1,000 minimum | Terms from 32 days to 120 months. Minimum opening deposit $1,000. |
| Checking | Rewards Checking: Up to 3.30% APY Cashback Checking: Up to 1% cashback | |
| Money Market | ||
| Mobile App | ||
| ATMs | Approximately 91,000 partner ATMs | More 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 | Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET). | |
| Locations | 700 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida | |
CreditDonkey® Reviews | ||
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| Pros & Cons | Pros:
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| Bottom Line | Full-service online bank with excellent cashback and interest checking... | Upper East Coast bank with free checking option and good promo CD rates... |
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 06/14/2024. M&T Bank: Pricing information from published website as of 07/19/2024 based on 14203 zip code | ||
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by August 1 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
High Yield Savings - Up to 0.61% APY
- 0.61% APY on balance < $25,000
- 0.25% APY on balance $25K-$100K
- 0.15% APY on balance > $100K
- No monthly maintenance fees
- No minimum balance requirements
- $250 minimum opening deposit
- Free incoming wires
- Zero minimum balance requirement
Business Interest Checking - 1.01% APY
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by August 1 and get up to $400 when you use promo code NEW400 on your application.*
- Up to 1.01% APY**
- $100 minimum opening deposit
- Pay no monthly maintenance fee with an average daily balance of at least $5,000
- Unlimited domestic ATM fee reimbursements
- Up to 100 free items per month, $0.50 per item thereafter (includes debits, credit, and deposited items)
- Up to 60 items per month for Remote Deposit Anywhere (includes monthly per item processing limitation)
- Free online banking, image statements, and Bill Pay
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 Business Checking
Is Axos Bank Safe
Articles on M&T Bank
