How Do I Open a Trust Account at M&T Bank?

Opening or retitling

In a branch

Available

Online

Not available

By phone

Not stated

By mail

Not stated

Appointment

Not stated

Co-trustees

Not stated

Existing account

Not stated

What proves the trust

Not stated

Certification form

Not stated

What it costs

Monthly fee

Not stated for trust accounts

Fee waived at

Not stated for trust accounts

Other waivers

Not stated for trust accounts. Balances on accounts on which you are a fiduciary or agent (e.g., trustee) are not included in the M&T Preferred Money Market relationship calculations, and some fiduciary accounts such as trusts are not eligible to upgrade to the Preferred Money Market; Relationship Savings can be opened by individuals only

Schedule that applies

Not published; the Specific Features and Terms for each account and the Additional Fees and Fees for Use of Electronic Banking Card for Consumer Checking and Savings Accounts are available on request at any M&T banking office or through the Contact Center

For trust accounts

Preferred Money Market disclosures: "Accounts on which you are a fiduciary or agent (e.g., trustee, guardian, conservator, power of attorney, etc.) or on which you are solely a beneficiary are not included in these calculations. Note that some fiduciary accounts such as trusts and estates are not eligible to upgrade to the M&T Preferred Money Market." No published M&T fee document names a trust account otherwise; the personal checking fee guide's combined-balance exclusions name custodian, guardian, beneficiary-designation, lease-security, escrow and IOLA/IOLTA accounts but not trusts.

Who can open it

Existing customer

Not stated

Documents to bring

M&T Bank publishes no document list for trust accounts.

Once it is open

Online banking

Not stated

Checks

Not stated

Debit card

Not stated

What to know at M&T Bank

M&T publishes no page, form or FAQ about opening or retitling a deposit account in the name of a revocable living trust. What it does publish is indirect: the Preferred Money Market disclosure treats accounts "on which you are a fiduciary or agent (e.g., trustee ...)" as a class of its consumer accounts and says "some fiduciary accounts such as trusts and estates are not eligible to upgrade" to that product; BR-1009 carves fiduciary accounts out of its survivorship defaults; and the Online Account Opening FAQ limits online opening to personal checking and savings under Individual or Joint ownership, sending "any other type of account" to a branch or Telephone Banking. M&T does not state what document proves the trust, whether it publishes a certification-of-trust form, whose taxpayer number the account is opened under, whether an existing account can be retitled, whether all co-trustees must appear, or which product the account is opened as; its General Deposit Account Agreement and Specific Features and Terms are available only on request. Two product limits are published: Relationship Savings "can be opened by individuals only", and a trust may be ineligible for the Preferred Money Market, with fiduciary balances excluded from its relationship-rate calculations. Wilmington Trust (M&T's wealth affiliate) pages describe corporate-trustee and advisor-managed trust services, a different product from a deposit account titled to your own trust, and are not read for these fields.