[AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA] Keybank $250 Checking Bonus

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

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