Choosing the right bank account can make a big difference in how your business runs day to day. If you’re considering an M&T Bank business account, you’re likely looking for a mix of low fees, useful features, and trusted service.
In this review, I’ll walk you through everything you need to know, clearly and simply, so you can decide if it’s the right fit for your business.
Overview of M&T Bank Business Accounts
M&T Bank is a regional financial institution with over 1,000 branches across the Mid-Atlantic and Northeast. It’s a bank that truly specializes in business banking. With more than 1,300 dedicated business banking specialists, the bank offers everything from everyday checking accounts to more complex tools like merchant services, treasury management, and commercial lending.
With a long-standing commitment to supporting small businesses and community growth, M&T offers a variety of business accounts designed to help companies manage daily cash flow, accept payments, and keep finances organized.
Here are the main types of M&T Bank business checking accounts:
- Business Essential Checking: For startups and small businesses
- Simple Checking for Business: For businesses with moderate banking needs
- Tailored Business Checking: For larger or growing businesses with more complex finances
Each M&T Bank business account includes access to M&T’s mobile and online banking tools, fraud protection, and optional business services like merchant processing and financing.
M&T Bank Business Checking Account Options
M&T offers a variety of checking accounts tailored to different business needs. From solo entrepreneurs to high-volume companies, each M&T Bank business account comes with specific features, fee structures, and transaction allowances. Here’s a breakdown:
Business Essential Checking
If you’re just starting out or running a side hustle, the Business Essential Checking account is M&T’s most basic option. It helps you separate personal and business finances without unnecessary costs or complexity.
Key Features:
- Monthly maintenance fee: $5 (waived for the first 3 months)
- Ways to waive fee: Keep a $1,000 daily balance or make $300 in debit card purchases per month
- Free transactions: The first 25 monthly transactions (checks, deposits, and ACH) are free.
- Cash deposits: Up to $2,500 per month included
This M&T Bank business account keeps things simple with one of the lowest fees available. It’s a great option for freelancers and startups that only need basic banking. However, with just 25 free transactions, it may feel tight once your business starts growing. It also lacks the advanced features other accounts offer.
Simple Checking for Business
If your business has consistent cash flow and moderate transactions each month, Simple Checking for Business offers a step up in features.
Key Features:
- Monthly maintenance fee: $10
- Ways to waive fee: Keep a $2,500 average balance or make 5 transaction items per month
- Free transactions: First 100 items per month
- Cash deposits: Up to $5,000 per month included
- Extras: Free mobile banking, Bill pay included, Free business debit card (custom branding available)
It gives you more room to operate with 100 free transactions and decent cash deposit limits. The easy fee waivers and branded debit card add extra value. On the other hand, going over 100 transactions means paying $1 each, which adds up fast. Businesses with higher activity may outgrow this M&T Bank business account quickly.
Tailored Business Checking
As your business expands, so does your need for more flexible cash management. Tailored Business Checking is designed for larger operations with more complex financial activity.
Key Features:
- Monthly maintenance fee: $20 (waived for first 3 months)
- Ways to waive the fee:
- Maintain $10,000 average balance
- Keep $25,000 combined across linked accounts
- Accept M&T Merchant Services deposits
- Spend $2,000+ on a linked M&T business credit card
- Free transactions: First 500 items per month
- Cash deposits: Up to $20,000 per month included
- Fee Waiver Bonus: First 3 months free
- Extras: Overdraft protection, mobile check deposit, merchant services.
Mid-sized firms have a lot of flexibility with this account, which offers 500 free transactions and several methods to waive fees. M&T Bank business account bonus offers also help you save upfront. If you’re a new M&T business checking customer, you may qualify for a limited-time cash bonus of up to $1,500 when opening a Tailored Business Checking account with promo code by September 30, 2025, and maintain a minimum balance in the third full month.
However, the $20 cost may feel steep if you don’t fulfill one of the conditions. It may also be more than necessary for very small operations.
Specialty Checking Options
If your business has unique needs, M&T has you covered, too.
BizFlex Checking
This M&T Bank business account is best for seasonal businesses or those with fluctuating cash flow. You can link up to 4 accounts for combined balance benefits
- Fee: $50/month (waived for 3 months)
- Transactions: Up to 1,000/month
- Cash Deposits: $50,000/month
Business Interest Checking
This type is suitable for businesses with steady cash reserves.
- Fee: $22/month
- Interest: Earns with $500+ daily balance
- Limits: Lower than other accounts for transactions and deposits
Non-Profit Checking
- Pricing: Custom, often lower than commercial rates
- Features: Designed for 501(c)(3) nonprofits
- Requirements: Typically lower balances and fees
- Best for: Charitable and mission-based organizations.
M&T Business Savings and Money Market Accounts
M&T Bank offers a variety of savings options to help businesses grow their cash reserves while earning interest. Whether you’re a small business owner, part of a nonprofit, or managing a large firm, M&T has a savings account that fits your needs.
Commercial Savings Account
The Commercial Savings Account is ideal for small businesses, sole proprietors, and nonprofits looking for a simple way to earn interest on extra cash.
Key features include:
- No monthly maintenance fee if you keep at least $300 in the account daily (otherwise, it’s just $5/month)
- Earn a variable interest rate on your balance
- No charge for standard transactions and up to $5,000 in cash deposits per month
- Access to ATM withdrawals and online tools
M&T Bank business account bonus: You can earn a preferred relationship rate when you pair this account with an M&T Tailored Business Checking account.
It’s a great entry-level savings solution with low requirements and flexible access.
Commercial Money Market Savings
For businesses that carry larger cash balances, the Commercial Money Market Savings Account offers higher earning potential through tiered interest rates.
Benefits include:
- With a $10,000 daily balance, there is no monthly charge (or pay $12.50/month if not fulfilled).
- Tiered variable interest. The more you save, the more you earn
- No transaction fees and free monthly cash deposits up to $5,000
- ATM access and FDIC-insured deposits
This M&T Bank business account is ideal for firms, nonprofits, and partnerships that want to put their large balances to work.
Market Advantage for Business
The Market Advantage for Business account is a powerful money market option that combines flexibility with strong savings potential.
Top features:
- No monthly maintenance fee when maintaining a $10,000 daily balance
- Earn competitive tiered interest rates
- Start with a minimum deposit of $2,500
- Access funds anytime via ATM, online, or mobile banking
- No charge for standard transactions and the first $5,000 in cash deposits each month
- Extra features like overdraft protection, debit cards for employees, and built-in fraud protection
This M&T Bank business account is best for established businesses that want a mix of accessibility and returns, without locking up their cash.
M&T Bank Business Account Features & Tools
M&T doesn’t just offer bank accounts. They also offer smart tools to help you manage your business more efficiently. Whether you’re banking online or at a branch, you’ll find features designed to save you time and keep your operations running smoothly.
Online & Mobile Banking
You can manage your business finances anytime, anywhere. Through M&T’s mobile app or online dashboard, you’ll get:
- ACH transfers
- Bill pay services
- Real-time account alerts
- Internal transfers and balance tracking
Everything is laid out in a simple, easy-to-use interface built specifically for businesses, not just a repurposed personal banking app.
Fraud Protection & Overdraft Options
Security is a top priority. M&T Bank business account options all include:
- Chip-enabled debit cards
- 24/7 fraud monitoring and alerts
- Optional overdraft protection linked to savings or credit accounts
These tools help protect your business funds and reduce the risk of lost revenue from fraud or unexpected charges.
Cash Management Tools
For larger businesses or those with more complex finances, M&T offers advanced services like:
- Analyzed accounts with earnings credits
- Treasury management services
- Automated cash flow reporting
These are especially useful if you handle high transaction volumes or need more detailed financial tracking.
Business Debit & ATM Cards
You’ll receive an M&T Business Debit Card when you open an account. This card allows for:
- Direct access to business checking funds
- ATM withdrawals at 1,800+ M&T locations
- Chip-enabled security
- Custom card design via the M&T Custom Card Design Studio
You can even create a unique debit card look with your company logo or brand image. Not only does it look professional, but it also reinforces your brand every time you make a transaction.
Additional Services and Tools
M&T Bank offers more than just checking accounts. When you open an M&T Bank business account, you also gain access to:
- Merchant Services & BizPay: M&T’s merchant services give you access to payment terminals, point-of-sale (POS) systems, and BizPay, a platform for sending payments, managing vendors, and automating bills. It’s all designed to make your revenue collection and expense tracking simpler and more accurate.
- Mobile Check Deposit: No need to run to the bank every time a check comes in. With the mobile deposit feature, you can snap a photo of a check using your phone and deposit it instantly. It’s fast, secure, and especially handy for businesses that don’t want to leave the office just to visit a branch.
- Business Credit Cards & Lending Options: As an M&T business customer, you’ll also have access to credit lines, business M&T credit cards, and financing. This includes working capital loans, equipment financing, and SBA loan support, giving you room to grow when you need it most.
- Business Education & Support: Through its Business Education Center, the bank provides educational tools, expert advice, and financial planning resources for every business stage.
How to Open an M&T Bank Business Account
Opening a business account with M&T Bank is quick and convenient. You can choose to apply online from the comfort of your office or visit a nearby M&T branch to get help from a banking specialist. Either way, the process is designed to be simple and only takes about 10 minutes if you have the right documents ready.
M&T Bank Business Account Requirements
To get started, make sure you have the following:
- Social Security Number (SSN) or Employer Identification Number (EIN) for your business
- Legal business documents, depending on your business type:
- Corporations: Articles of Incorporation
- LLCs: Operating Agreement
- Sole Proprietors/DBAs: Business license or Doing Business As certificate
- A valid photo ID, such as a driver’s license or passport
- For any owner who owns 25% or more of the business, you’ll need:
- Full name
- Home address
- Date of birth
- Social Security Number
How to Apply for an M&T Bank Business Account
- Select the Best Account for Your Needs: Think about how many payments, deposits, and cash transactions you typically make. Then use the comparison chart above to decide which M&T Bank business account fits your current size and future goals.
- Gather Required Documents: You’ll need two forms of ID for the business owner(s) and prepare business documents as mentioned above. Be sure to bring official, up-to-date copies for verification.
- Visit a Branch or Apply Online: You can schedule an appointment with a Business Banking Specialist or begin the process on M&T’s website. An in-person visit may be required depending on your business type or location, but many accounts, like Business Essential or Simple Checking, can be opened online.
- In Person: Visit your nearest M&T Bank branch and speak with a Relationship Manager. They’ll walk you through the process and help set up your M&T Bank business account.
- Online: Prefer to do it yourself? You can fill out the application on M&T’s website. It’s user-friendly and can be completed in around 10 minutes.
- Fund Your Account: Once your application is approved, you’ll receive account details, and you can start using M&T’s digital banking tools right away. Initial deposit amounts vary by account type, but it’s common to start with $100–$500. You can fund the account via check, transfer, or cash.
- Set Up Online Access: Once your M&T checking account is open, you can:
- Activate online banking
- Set up mobile deposit
- Enroll in bill pay
- Create custom alerts
- Order your debit card(s)
From here, you’re ready to manage your business finances with ease, whether you’re on the road, in the office, or running a side hustle from home.
M&T Bank Business Account Fees & Waiver
Understanding how much your M&T Bank business account will cost and how to avoid fees is key to making the right choice. M&T Bank offers clear, tiered pricing across its business checking options, with multiple ways to waive monthly charges. Here’s a breakdown to help you compare:
Fees of M&T Business Checking Accounts:Â
| Account Type | Monthly Fee | Fee Waiver Requirements | Extra Transaction Fee | Currency Deposit Overcharge |
|---|---|---|---|---|
| Business Essential Checking | $5 | Waived if ≥ $1,000 daily balance or $300 in card spend | $1 per item beyond 25 includes/checks/ACH | $0.27 per $100 |
| Simple Checking for Business | $10 | Waived if ≥ $2,500 daily balance OR 5+ transactions per month | $1 per item after 100 | $0.27 per $100 |
| Tailored Business Checking | $20 | Waived if ≥ $10k daily balance; or $25k combined across linked savings/checking; or merchant/carrolling | $0.50 per item after 500 | $0.27 per $100 after $20k |
| Business Interest Checking | $22 | Waived first 3 months | Details not specified in this section | Not specified |
| BizFlex Checking | $50 | Waived if combined balance ≥ $50k across linked BizFlex accounts | $0.25 per item after 1,000 | $0.25 per $100 after $50k |
Notes:
- All checking accounts get fee waivers for the first three months.
- Paper statement fees apply (~$3/month) if paper statements are chosen instead of digital.
- Extra transaction and currency deposit fees apply as listed.
Fees of Savings & Money Market Accounts:
| Account Type | Monthly Fee | Waiver Conditions | Interest & Services |
|---|---|---|---|
| Commercial Savings | $5 | Waived with ≥ $300 daily balance | Variable interest; no transaction/cash deposit fees (≤ $5,000) |
| Commercial Money Market Savings | $12.50 | Waived with ≥ $10,000 daily balance | Tiered interest; FDIC insured; ATM access; no deposit fee (≤ $5k) |
| Market Advantage for Business | $12.50 | Waived with ≥ $10,000 daily balance | Tiered interest; ATM, online/mobile; overdraft cover; FDIC insured |
Notes:
- All savings accounts are FDIC-insured and offer variable interest.
- No fees for up to $5,000 in monthly cash deposits.
- Currency deposit fees apply above limits: $0.27 per $100.
- The savings interest is variable and may change based on M&T’s discretion.
M&T Bank Business Account Customer Service
If you open an M&T Bank business account, you’ll have several ways to get help when you need it. Whether you prefer to speak with someone over the phone, online, or in person, M&T has support options designed for business customers. Here’s a quick overview of how to get assistance and what to expect.
First, M&T provides multiple service channels to support your business banking needs:
- Business Banking Phone Support: You can call M&T’s dedicated business line at 1‑800‑724‑6070. Available Hours:
Monday to Friday: 6 AM – 9 PM (ET)
Saturday and Sunday: 9 AM – 5 PM (ET) - Online and Mobile Banking Support: For technical help with digital banking, call the tech support team at 1‑800‑790‑9130 during the same service hours as above.
You can also visit any M&T branch to speak directly with a Relationship Manager, who can assist you with M&T Bank business account setup, questions, or banking problems.
Lastly, M&T has special teams that help with merchant accounts, card services, and treasury management. These are great options for businesses that need more advanced tools or services.
Pros and Cons of M&T Bank Business Accounts
Before choosing a bank for your business, it’s important to weigh both the advantages and potential drawbacks, and here’s a clear look at the pros and cons of M&T business accounts:
Pros:
- Multiple account types for different business sizes
- Strong mobile and online banking tools
- Up to $1,500 in new account bonus offers
- Access to business credit, savings, and payment services
- Regional community bank feels with wide coverage
Cons:
- Monthly fees if you don’t meet the requirements
- Limited free transactions on lower-tier accounts
- Bonus offers apply only to Tailored Business Checking
FAQs About M&T Business AccountsÂ
Can I open an M&T Bank business account online?
- Yes. Most businesses can open an Essential or Simple Checking account directly through the M&T website. However, depending on your business type, you might need to visit a branch to complete the process or provide documents.
Does M&T offer merchant services for businesses?
- Yes. M&T provides merchant processing tools, including payment terminals, BizPay, invoicing features, and integrated credit card acceptance, all great for retail or service-based businesses.
Are my business funds insured?
- Yes. Like most U.S. banks, M&T is FDIC-insured, meaning your deposits are protected up to $250,000 per depositor, per account type.
What’s the main difference between Simple Checking and Tailored Checking?
Simple Checking is ideal for businesses with lower volume. You get 100 free transactions and $5,000 in cash deposits. Tailored Checking is better for growing businesses, offering 500 free transactions, $20,000 in cash deposits, and more ways to waive monthly fees.
An M&T Bank business account offers flexible options, clear fees, and strong support, especially for businesses in the Eastern U.S. Whether you’re just starting out or expanding, M&T has an account to match your needs. With helpful tools and fair pricing, it’s a smart choice for many small and mid-sized businesses. Take time to compare your options and pick the one that fits best.
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