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
See our best bank bonuses updated daily to earn up to $1,000 in free money. Find popular checking offers such as Chase Bank, HSBC Bank, TD Bank, Huntington Bank, BBVA, Discover Bank, and CIT Bank. See our best rates for Savings and CD too. |
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| Chase Business Complete BankingSM $300 Bonus | Chase Total Checking® $200 Bonus |
| HSBC Premier Checking $450 Bonus | HSBC Premier Checking Up To $600 |
| HSBC Advance Checking $200 Bonus | HSBC Advance Checking Up To $240 |
| TD Bank Beyond Checking $300 Bonus | TD Bank Convenience Checking $150 Bonus |
| Huntington 25 Checking $300 Bonus | Huntington Business Checking 100 $200 Bonus |
| Huntington Unlimited Business Checking $400 Bonus | Huntington Unlimited Plus Business Checking $750 Bonus |
| Axos Basic Business Checking $100 Bonus | Aspiration Spend & Save Account $100 Bonus |
| Ally Invest Up To $3,500 Bonus | Discover Bank $360 Cashback Debit |
| WeBull 2 Free Stocks | BlockFi Up To $250 BTC Bonus |
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| 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! |
| My favorite bank transfer hub is the American Express® High Yield Savings Account: • Earn 0.50% APY on your deposits. Your High Yield Savings account earns interest daily and is posted to your account monthly. • Links easily with your current bank accounts. No need to switch banks. • FDIC Insured. Your account is insured to at least $250,000 per depositor. • No monthly fees, no minimum balance. • 24/7 Account Access |
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.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Chase Business Complete BankingSM | $300 Cash | Review |
| Chase Total Checking® | $200 Cash | Review |
| HSBC Premier Checking Member FDIC | $450 Cash | Review |
| HSBC Premier Checking Member FDIC | Up To $600 | Review |
| HSBC Advance Checking Member FDIC | $200 Cash | Review |
| HSBC Advance Checking Member FDIC | Up To $240 | Review |
| Huntington 25 Checking | $300 Cash | Review |
| TD Bank Beyond Checking | $300 Cash | Review |
| TD Bank Convenience CheckingSM | $150 Cash | Review |
| Huntington Bank Unlimited Plus Business Checking | $750 Cash | Review |
| Huntington Bank Unlimited Business Checking | $400 Cash | Review |
| Huntington Bank Business Checking 100 | $200 Cash | Review |
| Axos Bank Basic Business Checking | $100 Cash | Review |
| Aspiration Spend & Save Account | $100 Cash | Review |
| Ally Invest | Up to $3,500 Cash | Review |
| BlockFi | Up To $250 BTC | Review |
| American Express High Yield Savings | 0.50% APY | Review |
| Discover Cashback Debit Account | $360 Cash | Review |
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