M&T Bank in Danvers, MA | Danvers Federal St. | Branch & ATM (2024)

FAQs

How much can you withdraw from an ATM at M&T bank? ›

ATM Withdrawal Limit

Different banks, account types and ATMs have different withdrawal limits, so be conscious of these restrictions. M&T cardholders can withdraw up to $1,000 per day from an ATM.

Making deposits at an ATM can be a convenient option to make same business-day** deposits. At M&T Bank, same business-day deposits are accepted until 8pm ET. You can deposit cash or checks at our ATM locations without an envelope or a deposit slip.

M&T Bank traces its origins to the founding of Manufacturers and Traders Bank in Buffalo, New York. As a result of mergers, acquisitions and name changes, M&T Bank Corporation's principal bank is now known as Manufacturers and Traders Trust Company, or M&T Bank.

All checking accounts require a minimum $25 opening deposit.

Most often, ATM cash withdrawal limits range from $300 to $1,000 per day. Again, this is determined by the bank or credit union—there is no standard daily ATM withdrawal limit. Your personal bank ATM withdrawal limit also may depend on the types of accounts you have and your banking history.

Examples of ATM withdrawal limits

ATM withdrawal limits vary by bank and the ATM network. Bank of America, for example, advertises a $1,000 maximum daily withdrawal limit, or a maximum of 60 bills, for most accounts. Allpoint ATMs, on the other hand, don't impose a specific withdrawal limit per day.

Can you deposit cash at an ATM that isn't your bank? Most banks don't allow you to deposit cash at an ATM that's out-of-network. The banks that do accept cash deposits through out-of-network ATMs often charge an extra fee — and, typically, require longer processing periods.

Banks must report cash deposits of more than $10,000 to the federal government. The deposit-reporting requirement is designed to combat money laundering and terrorism. Companies and other businesses generally must file an IRS Form 8300 for bank deposits exceeding $10,000.

The short answer: Yes, it's possible. However, not all ATMs accept cash, and some of those that do charge fees. So if you want to deposit cash at an ATM, learn how to choose the right one and what steps to take next.

M&T Bank (MTB) Ownership Overview

The ownership structure of M&T Bank (MTB) stock is a mix of institutional, retail and individual investors. Approximately 71.79% of the company's stock is owned by Institutional Investors, 5.97% is owned by Insiders and 22.23% is owned by Public Companies and Individual Investors.

What is special about M&T bank? ›

A bank for communities.

Our philosophy is based on customer experience not price. We work with local businesses to offer responsible lending options. We are thoughtful and transparent with our shareholders' capital. We listen and work together to provide solutions to meet your needs.

M&T Bank has a regional headquarters and a branch at 850 Main St., in downtown, Bridgeport, Conn. Connecticut Attorney General William Tong has been a frequent critic of M&T Bank's customer service since the company completed in April 2022 its $8.3 billion acquisition of People's United Bank.

Avoid the Monthly Maintenance Charge

Maintaining a minimum daily balance of $500 or more or have a personal checking account with M&T Bank or by making at least one deposit in your Relationship Savings account during the monthly service charge cycle.

Plenty of banks and credit unions offer free checking accounts these days. However, some accounts still require a minimum opening deposit or only waive monthly fees if you maintain a certain balance. Fortunately, there are many free checking accounts with no deposit requirements that still offer perks and benefits.

Cash deposit limits can be different for each bank or financial institution, but banks must report any deposits over $10,000 to the IRS. So, while you may be able to deposit more than $10,000 into your bank account, know that the bank will investigate, track and report that payment as a result to ensure it's legal.