How Do I Setup a Recurring Transfer in My M&T Bank Account?

Setting up a recurring transfer in your M&T Bank account can save you time, effort, and money. Whether you need to make regular payments or want to build your savings, this feature ensures that your money is transferred on time without requiring you to initiate the transfer each time manually. In this article, we'll guide you through the steps to set up a recurring transfer in your M&T Bank account and explore the benefits of using this feature.

What Is a Recurring Transfer?

A recurring transfer is an automated transfer of funds between two accounts regularly, such as weekly, bi-weekly, monthly, or annually. They can be used for various purposes, including paying bills, saving money, or making regular contributions to an investment or retirement account. Once set up, recurring transfers will occur automatically on the designated schedule until the transfer is manually stopped or the duration of the transfer ends. 

Types of Recurring Transfers

There are two types of recurring transfers: 

• Fixed recurring transfers: With fixed transfers, you will be charged the same amount each time. Some examples include magazine subscriptions and gym memberships.
• Irregular recurring transfers: With irregular transfers, the amount charged can increase or decrease depending on your usage of the product or service. Some examples include electricity and other utility bills that change monthly based on consumption. 

How To Set Up A Recurring Transfer In Your M&T Bank Account

There are several ways to set up a recurring transfer in your M&T bank account. 

Online

Follow the steps below to establish a recurring transfer in your M&T bank account. 

1. Log into your M&T bank online or through the mobile app. 
2. Click on the "Transfers" tab in the main menu.
3. Choose the account you want to transfer from and the one you want to transfer to.
4. Enter the amount you want to transfer and select the frequency and duration of the recurring transfer.
5. Review and confirm the setup.

Once you've completed these steps, your recurring transfer will occur automatically according to the designated schedule. You can manage your recurring transfers and change the amount, frequency, or duration at any time through the M&T website or the mobile app. 

By Phone

You can also contact M&T Bank via phone to speak to a representative who can help you set up a recurring transfer in your M&T bank account. 

In-Person

You can also find an M&T branch near you to establish recurring transfers in your M&T bank account. 

Benefits of Recurring Transfers

Reduced Late Payments

With a recurring transfer, you only need to set the system up once, and rest assured the transfer will be repeated automatically based on your predefined schedule. Payments will be made on time, avoiding penalties and late fees. 

Convenience

Once a recurrent transfer has been set up, you no longer have to remember to initiate the transfer at regular intervals. The transfer will occur automatically according to the designated schedule, saving you time and additional effort.

Building Savings

You can also set up a recurring transfer in your M&T bank account to boost your savings by automatically transferring money from your checking account to your savings account regularly.