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Offer at a glance
- Maximum bonus amount: $200
- Availability: Restricted to: Albany, Buffalo, Cleveland, Denver, Hartford-New Haven, Pittsburgh, Portland, Rochester, Seattle, and Syracuse.
- Direct deposit required: Yes, $500+ 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 $100
- Monthly fees: $7, avoidable
- Early account termination fee: $25
- Household limit: None
- Expiration date: June 12th, 2020
- KeyBank is offering a bonus of $200 when you open a new eligible checking account and complete the following requirements:
- Use offer code ONAS0520
- Receive a single direct deposit of $500+
The Fine Print
- Offer available in the following markets ONLY: Albany, Buffalo, Cleveland, Denver, Hartford-New Haven, Pittsburgh, Portland, Rochester, Seattle, and Syracuse.
- You must open a Key Express Checking® Account (this is the basic banking account in NY), Key Advantage® checking account, Key Privilege® checking account, or Key Privilege Select Checking® account by the expiration date at 11:59 p.m. (EDT) and make ONE single KeyBank direct deposit of $500 or more within 90 days after account opening to get $200. Normal account service charges and balance requirements apply to these accounts. Direct deposit transactions are limited to: payroll, Social Security, pension and government benefits. Accounts titled as Trust Accounts, Estate, and No Access are excluded from eligibility. Employees of KeyBank, its affiliates and subsidiaries are not eligible for this offer. Offer/Reservation number is non-transferable, cannot be sold and is required to qualify. Limit one gift per qualifying account. Limit one gift per individual. The value of your gift will be reported on Form 1099-INT and deposited into your account within 60 days of meeting requirements. If you close your account within 180 days of account opening, you will be charged a $25 account early closure fee. Other miscellaneous charges may apply. Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months. Accounts overdrawn or closed at the time of gift payment are not eligible. Offer is subject to cancellation without notice and cannot be combined with any other offer. KeyBank is not responsible for and will not honor promotional offers that appear on third-party websites that are not authorized by KeyBank.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Key Express Checking $7 Monthly Fee ($200 Bonus)
The monthly fee on this account is waived if you do either of the following each statement cycle:
- Deposits of at least $500 per month
- At least 8 customer initiated transactions per month (any deposits, withdrawals, which includes transfers)
Early Account Termination Fee
If you close your account within 180 days, you are required to pay an early account closure fee of $25
KeyBank Relationship Rewards Membership Fee $30
This is optional so make sure you opt out of it.
Normally there is a $300 deal, or a $200 deal that is available in more locations. If you live in an area that is sometimes targeted for the $300 offer I’d wait for that to come back along. Otherwise this is probably as good as it will get.
Hat tip to reader d0ctorofdebit
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?
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