M&T Bank : Helpful Tips on Managing Your Account
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Helpful Tips on Managing Your Account
Home Account Basics
Account Management
Understanding Overdrafts Overdraft Protection Plans

Keeping track of your money is not always easy.

At M&T, we're here to help. Here you'll find helpful hints on how to manage your account and information on how overdrafts can occur. In addition, you'll find a guide to overdraft protection solutions that we offer you. To get started, click on the helpful tips above.

You now have an important decision to make.Family at grocery store with M&T check card

You can now decide whether you want us to authorize and pay your ATM withdrawals and everyday purchases made using your debit card when you do not have enough money in your account, or if you prefer to have these transactions declined.

An overdraft occurs when you do not have enough money in your account to cover transactions, but we authorize and pay the transaction at our discretion.

See Example

If you are using your debit card to buy $75 worth of groceries today, but you only have $50 available in your account, we may authorize the transaction and allow you to make the purchase. This does mean that you might overdraw your account and get charged an overdraft fee, but your transaction will be allowed to go through.

However, if you did not want M&T Bank to authorize and pay these types of transactions, your purchase would not be allowed to go through in this example, and your debit card would be declined at the register.

Let us know whether you would like to allow us to authorize and pay your ATM and everyday debit card transactions on your M&T checking account - make your choice today. You can print a form if you prefer.

Thank you!

Make your choice today.

Under our standard overdraft practices for M&T personal checking accounts: 

1. We will charge you a fee of $38.50 each time we pay an overdraft, unless one of the following exceptions applies:

  • The amount of the transaction is less than $5;
  • The overdraft results from an ATM or one-time debit card transaction from your checking account and you have not elected to permit us to authorize and pay these transactions when you do not have enough money to pay them; or
  • Your account has already been charged a total of 5 NSF and overdraft fees for items processed for payment on that business day;

    (NOTE: These same fees and limits generally apply when we decline to pay items because you do not have sufficient available funds to pay them; however, we do not charge insufficient funds fees on declined ATM and debit card transactions.)

2. In addition to any overdraft fee charged for a particular item, if your checking account is overdrawn and you do not repay this amount, we will charge you a $38.50 extended overdraft fee if you fail to repay all amounts you owe to us by the 5th business day after your checking account became overdrawn or further overdrawn.

(NOTE: You will not be charged an extended overdraft fee for any account at any time if the overdraft in your account is solely attributable to ATM and one-time debit card transactions and you have not elected to permit us to authorize and pay these transactions when you do not have enough money to pay them.)

Fees may be imposed for paying overdrafts created by check, in-person withdrawals, ATM withdrawals or other electronic means. If we pay an overdraft on your account, you must immediately repay us. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.

Unless otherwise specified, all advertised offers and terms and conditions of accounts and services are subject to change at any time without notice. After an account is opened or service begins, it is subject to its features, conditions, and terms, which are subject to change at any time in accordance with applicable laws and agreements. Please contact an M&T representative for full details.

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