The Relationship Savings account helps customers with balances of more than $1 earn interest. But the yield, even for the highest tier of $100,000 or more, is below the national average savings account APY.
There are a few ways to waive the $7.50 monthly service fee on the Relationship Savings account: maintain a minimum daily balance of $500 in the account, make one deposit into the Relationship Savings account per service charge cycle or have an M&T checking account.
The Relationship Savings account pays yields below the national average for savings accounts.
Tiered rates aren’t offered, which means higher balances aren’t rewarded with a higher APY.
The Relationship Savings account has a $7.50 monthly maintenance fee, unless requirements are met to have it waived.