Offer at a glance
- Maximum bonus amount: $250
- Availability: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
- Direct deposit required: Yes, $1,000+ required
- Additional requirements: Use promo code
- Hard/soft pull: Soft pull
- ChexSystems: Mixed DP, most likely does. Also reports of being ChexSystems sensitive.
- Credit card funding: Can fund up to $50
- Monthly fees: None
- Early account termination fee: $25
- Household limit: None
- Expiration date: 6/25/2021
Contents
The Offer
Direct link to offer (note: Click the PDF link to see the offers. This offer talks about Key@Work program. You obviously don’t need to work for DoC to participate in this offer, this is just the system they use for these types of custom offers. In addition we do not receive anything when using this link, the full benefit has been passed onto you the reader.)
- KeyBank is offering a bonus of $250 when you open a new checking account and complete the following requirements:
- Use promo code ONKW0121
- Make a total of $1,000 or more in direct deposits within 60 days of account opening
The Fine Print
- Enroll in the Key@Work program. You must be an active Key@Work member to receive your gift. Simply enter marketing code ONKW0121 when applying for your account on key.com.
- Open a Key Smart Checking,SM Key Advantage Checking,® Key Privilege Checking,® or Key Privilege Select Checking® account by 6/25/2021. A minimum deposit is required at the time of account opening.
- Make a total of $1,000 or more in direct deposits within 60 days of account opening.1 Your gift(s) will be deposited to your account within 60 days of meeting requirements. The account must be open for 90 days and not be overdrawn.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Key Smart Checking No Monthly Fee
This is a new account that can be opened with no monthly fee to worry about.
Early Account Termination Fee
If you close your account within 180 days, you are required to pay an early account closure fee of $25
Our Verdict
Standard offer is $200, this is an extra $50 but the direct deposit requirement is $1,000 instead of the standard $500. We have seen a $300 bonus in the past as well, but with fewer states available. I don’t think it’s worth waiting for that offer to return as it’s been some time since we’ve seen it.
It’s always nice when financial institutions agree to work with us like this and I do think this is a bonus worth doing. As I mentioned earlier we don’t get anything if you do use this link as we opted to pass the full bonus onto our readers instead. I will be adding this to the list of the best bank account bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
this is a better deal and is live again. youre welcome
https://www.key.com/personal/promo/get-400.jsp?ppc=2103_CMPCON_RETK0121_dm
Oh man! WAY better!
It’s asking for a reservation number after putting in the promo code? SO maybe this is targeted only?
(this is the basic banking account in NY)
So is this offer only for NY ?
Confirmed this is not working without reservation number.
Use offer code RETK0121 to open your qualified checking account by March 5, 2021
Use offer code RETK0121 to open your qualified checking account by March 5, 2021.
Make ONE single direct deposit of at least $500 within 60 days after account opening.*
Minimum opening deposit is required.*
Your gift will be deposited into your account within 60 days of meeting the requirements if your account is open and not overdrawn.
rejected for the smart checking, but offered hassle free checking, does hassle free checking qualify?
Same message. Based on the terms it’s not going to work for the bonus.
– Open a Key Smart Checking, SM Key Advantage Checking,® Key Privilege Checking,® or Key Privilege Select Checking® account by 6/25/2021.
this is a better deal and is live again. your welcome
https://www.key.com/personal/promo/get-400.jsp?ppc=2103_CMPCON_RETK0121_dm
Requires a personalized code.
Is the offer code RETK0121 on the top of the page not it?
This is a bit weird. Started application with the direct link, and after choosing “Full Time” employment, the “Current Employer” field is fixed to “Doctor of Credit” and cannot be modified.
It does not work. When you enter this code as an offer code it says that this is a Key@Work code and you should contact your employer to apply it. There was no other place to enter the code. I just opened account without entering the code and that means without bonus. Very frustrating.
I forgot to apply the promo code so I had to call my local branch. They inquired about my employment and then kindly put in a request with corporate to apply the promo code.
Bank called me back. They said the promo code has to be from my employer to use Key@Work.
Oooook. So finally was able to log in. It made me use old info from when I had this account in 2017-18. I couldn’t change the addy in the app, but it liked it- center city Philly. They attach your account to a physical branch location- in my case ~16 miles away. It said in the app you can change it after the application by logging into your online account, but it won’t let me in, soooo? I guess I will try again in a few hours.
I’m lol/whatever with chex and got approved so at least that wasn’t a problem. Also preapproved for 2 credit cards with no signup bonus, yay?
I’m having such a hard time to apply. I closed my account in 2018. It recognized me in the system, was locked out. Got that unlocked and then the page errors out and tells me to come back later. Haven’t figured out how to proceed with this.
No go for me:
Status for Key Smart Checking ℠ with Debit Card
Sorry, we are not able to approve your request at this time.
While we cannot open this account, you are eligible to open a KeyBank Hassle-Free Account®. Visit key.com/hassle-free for more information on account options.
We regret that we are unable to open the account you requested because of information on record with ChexSystems, Inc., a consumer reporting agency. ChexSystem did not make the decision to disapprove your account application and is unable to provide you with specific reasons why the decision was made.
No-go for NYC
Got a $300 offer for $500 deposit. Shipped a transfer from WF, waiting on the bonus.
Opened Jan 25, transferred $500 from WF, bonus posted Feb 9.