Editor’s Note: Overdraft Apps provides detailed product reviews and recommendations based upon extensive research and our own hands-on testing. We may earn a referral fee when you sign up for or purchase products mentioned in this article.
Mitchel holds a Bachelors of Business Administration in Finance from The Goizeta School of Business at Emory University and a Masters of Business Administration from The Haas School of Business at The University of California.
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Updated August 2026.
Short answer: M&T’s two entry-level accounts behave oppositely. EZChoice Checking can overdraft at $15 per day (max one fee per day), with no fee on items under $5. MyWay Banking is built so you mostly cannot overdraft: short transactions are usually declined, and M&T says you will not be charged an overdraft fee if the account does go negative. MyWay costs $4.95 a month unless you have at least one transaction that cycle.
| M&T account | Overdraft behavior |
|---|---|
| EZChoice Checking | $0 monthly fee. $15 overdraft fee per day (max one/day). No fee if the item is under $5. Opt-in needed for ATM/debit overdrafts. Declined transactions: $0 NSF fee. |
| MyWay Banking | $4.95/month (waived with one or more transactions per cycle). Cannot overdraft in the usual way; most short transactions are declined. No overdraft fee if overdrawn. Not eligible for an Overdraft Line of Credit. |
Fees verified August 9, 2026 from M&T’s Understanding Overdrafts page and its personal checking comparison.
EZChoice: standard M&T overdraft rules
EZChoice is M&T’s $0-per-month everyday checking option that still allows overdrafts under M&T’s standard rules.
- Overdraft fee: $15 per day
- Daily cap: maximum of one overdraft fee per day (so $15 at most, not stacked fees)
- Small-item rule: no fee if the item is less than $5
- NSF / declined: $0 fee when a transaction is declined
- ATM and debit: overdrafts only if you opt in
MyWay: the no-overdraft path
MyWay Banking is built the other way. M&T says that if you do not have enough money, the transaction will be declined in most cases. If the account is overdrawn anyway, you will not be charged an overdraft fee. MyWay accounts are not eligible to be linked to an Overdraft Line of Credit.
Monthly cost: $4.95, waived to $0 when you have one or more transactions in that monthly service charge cycle.
Overdraft protection options
On EZChoice-style accounts that allow it, M&T says a linked savings or money market transfer to cover an overdraft has no additional fee. An Overdraft Line of Credit or Credit Card Link costs $8 per day when used. MyWay is not eligible to link to a savings account, a Line of Credit, or a credit card for overdraft protection.
Which M&T account fits?
Choose EZChoice if you want $0 monthly fees and can accept a possible $15 overdraft fee (capped at one per day). Choose MyWay if you would rather have short transactions declined and pay $4.95 only when you skip activity for a month.
How to avoid M&T overdraft fees on EZChoice
- Watch items under $5. Those do not get the $15 fee.
- Skip ATM and debit opt-in if a decline is better than a fee.
- Use low-balance alerts so a shortfall is not a surprise.
- Consider MyWay if you want the account designed to block most overdrafts.
Short before payday? A $15 bank fee can still sting. A small advance can be cheaper when you qualify and repay on time.
See how to borrow $50 instantly, or compare every option side by side below.
How M&T compares to other banks
Overdraft terms vary a lot by bank. Here is how M&T lines up against a few others we track, using each bank’s own current fee schedule.
| Bank (typical account) | Overdraft fee | No-fee cushion |
|---|---|---|
| Huntington (Asterisk-Free) | $15, up to 3/day | $50 Safety Zone + 24-Hour Grace |
| Capital One (360 Checking) | $0, no overdraft fee | Fees eliminated |
| M&T (EZChoice) | $15, max 1/day | No fee on items under $5 |
| Chase (Total Checking) | $34, up to 3/day | $50 buffer + Overdraft Assist |
| U.S. Bank (Smartly) | $36 per item over $5 | $50 buffer + Fee Forgiven |
See fee details for more banks in our overdraft fees by bank hub.
Compare cash advance apps that can cover a shortfall. If you keep landing in overdraft, an app that fronts you a small amount until payday may cost less than repeat bank fees.
M&T Bank overdraft FAQ
How much is M&T’s overdraft fee on EZChoice?
$15 per day, with a maximum of one overdraft fee per day. There is no fee if the item is less than $5.
Does MyWay Banking charge overdraft fees?
No. MyWay Banking cannot overdraft in the usual way. Most short transactions are declined, and if the account is overdrawn, M&T says you will not be charged an overdraft fee.
What does MyWay cost each month?
$4.95 per month, waived to $0 when you have one or more transactions in the monthly service charge cycle.
Does M&T charge an NSF fee?
No. M&T does not charge a fee on declined (NSF) transactions.
Can M&T overdraft my debit card or ATM withdrawal?
On EZChoice, only if you opt in. MyWay is built to decline most short transactions instead.
Is there a fee for M&T overdraft protection?
A linked M&T savings or money market transfer has no additional fee. An Overdraft Line of Credit or Credit Card Link costs $8 per day when used. MyWay cannot use those links.
Related guides
Mitchel holds a Bachelors of Business Administration in Finance from The Goizeta School of Business at Emory University and a Masters of Business Administration from The Haas School of Business at The University of California.
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