M&T Bank

M&T Bank is a US bank, operating as Manufacturers and Traders Trust Company under M&T Bank Corporation, and offers business checking with different levels of included activity. Its FDIC certificate number is 588.

Accounts The business range comprises Business Essential Checking, Business Plus Checking and Business Premium Checking. They differ in the number of transactions and the amount of cash handling included. The accounts support digital payments and business Visa cards, and the bank also lists cash management and merchant services.

Fees According to the bank, Essential costs USD 5 per month, waived with a USD 1,000 average ledger balance or USD 300 of qualifying linked debit purchases. Plus costs USD 15, with a waiver tied to a USD 7,500 average ledger balance.

Online opening Premium can be opened online by eligible single-owner businesses, including LLCs, S corporations, sole proprietors and corporations; the comparison page still mentions only sole proprietors, so current eligibility should be confirmed. Applicants provide an SSN, address, email and mobile number, a business taxpayer ID (EIN, SSN or ITIN) and details of the 100 per cent owner.

Deposit insurance FDIC coverage is the standard USD 250,000 per depositor, insured bank and ownership category, subject to statutory rules.