M&T Bank vs Wells Fargo
M&T Bank is an upper East Coast bank with free checking option and good promo CD rates. How does it compare to Wells Fargo? Read our comparison chart below.
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.
While Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.
Compare M&T Bank with Wells Fargo, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
M&T Bank | Wells Fargo | |
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Referral Program - Up to $500 Bonus - | Savings Account - $525 Bonus - | |
Benefits and Features | ||
Savings | 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 | 0.01% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under. |
CD | 3.75% - 4.75% APY. Terms of 6 - 24 months. Minimum opening deposit $1,000. | Standard Fixed Term CD available online: 1.50% to 2.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 2.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch. |
Checking | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo | |
Money Market | Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship. | |
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. | approximately 11,000 ATMs across the country |
Customer Service | Mon - Fri 8:00 am - 9:00 pm (ET); Sat - Sun 9:00 am - 5:00 pm (ET). | Available 24 hours a day, 7 days a week. |
IRA CD | Standard Term CD: 0.01% to 2.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 2.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. | |
IRA Money Market | Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit. | |
Locations | 700 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida | Approximately 4,700 retail banking branches coast to coast. |
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
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Bottom Line | Upper East Coast bank with free checking option and good promo CD rates... | A "big 4" bank with a good range of checking accounts and full services... |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. M&T Bank: Pricing information from published website as of 04/03/2024 based on 14203 zip code Wells Fargo: Pricing information from the published website as of 04/10/2024 is based on the 91101 zip code. |
Which is Better: M&T Bank or Wells Fargo?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing M&T Bank or Chase.
In short: Wells Fargo's mobile app is impressive.