M&T Bank is a regional bank that’s located in the upper East Coast. Although they don’t offer high interest rates on their savings accounts, they are well known for their exceptional customer service.
In comparison to Bank of America thats available nationwide. They offer many different accounts: checking, savings, CDs, IRA and investment accounts through Merrill Edge.
Continue reading below to see a side-by-side comparison between the two banks, so you can see which one offers the services you need the most
 |
 |
|
| M&T Bank | Bank of America | |
| Locations | 690 bank branches located throughout New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida (Locator) | Over 5,000 locations (Locator) |
| ATMs | More than 1,500 M&T Bank ATMs in New York, New Jersey, Pennsylvania, Maryland, Washington, D.C., Virginia, West Virginia and Florida. | Over 1,800 ATMs |
| Savings | 3/5 | 3/5 |
| CD | 3/5 | 2/5 |
| Checking | 4/5 | 2./5 |
| Money Market | 3/5 | |
| Customer Service | 4/5 | 4/5 |
| Mobile App | 3.5/5 | 4.5/5 |
| Pros | -Free checking option -High APY for Promo CD -Free savings with checking |
-National availability -Extended customer service hours -Full service bank |
| Cons | -Fee heavy -Subpar savings APY -Limited branches |
-No free checking option – Low interest rate -Many miscellaneous banking fees |
| Bottom Line | M&T Bank has a free checking option and a wide range of deposit accounts that caters to people of all pages. | Bank of America operates nationwide offering many account options like checking, savings, and more! |
Bottom Line
Which Bank is Better: M&T Bank or Bank of America?
In summary:
- If you’re not looking for high interest and wanting a conveniency then M&T Bank is a good option. Plus their customer service is really hard to beat.
- Bank of America has many account options and their user friendly interface and mobile app is noteworthy. They offer lower interest rates!
For more variety of options, see our list of the best bank account bonuses & savings account offers.
Leave a Reply