Posted by William Charles on June 23, 2016
Bank Account Bonuses

Published on June 23rd, 2016 | by William Charles

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[YMMV] KeyBank $400 Checking Bonus [AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, or WA only]

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, or WA only
  • Direct deposit required: Yes, a total of at least $500 within 60 days of account opening. Almost any ACH transfer should trigger this requirement, click here to see what has worked in the past.
  • Additional requirements:
  • Hard/soft pull: Soft
  • Credit card funding: Up to $100
  • Monthly fees: None – $18, waive-able
  • Early account termination fee: $25 if closed within 180 days of opening
  • Expiration date: July 22nd, 2016

The Offer

Direct link to offer

  • Open a qualifying KeyBank checking account with the promotional code RETK0516 and receive a direct deposit of at least $500 or more within 60 days of account opening and receive a sign up bonus of $400.

keybank $400 bonus

 

The Fine Print

  • You must open a Key Express Checking® (this is the basic banking account in NY), Key Advantage®, Key PrivilegeSM, or Key Privilege Select CheckingSM by the expiration date and make one direct deposit of $500 at the minimum within 60 days after account opening to get $400.
  • Offer code and reservation number required to redeem this offer. Offer is non-transferable. Coupon and offer code cannot be resold. Limit one gift per qualifying account. Limit one gift per individual.
  •  The gift will be deposited within 90 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.
  • Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Key Express Checking $7 Monthly Fee

The monthly fee on this account is waived if you do either of the following each statement cycle:

  • Direct deposits of at least $500
  • At least 8 customer initiated transactions (any deposits, withdrawals, which includes transfers)

Early Account Termination Fee $25

If you close your account within 180 days, you are required to pay an early account closure fee of $25

Relationship Rewards $40 Fee

There is a $40 fee if you don’t opt out of their relationship rewards.

Our Verdict

Normally these KeyBank promos have an e-mail option that also gives you a reservation number (as a reservation number is needed as well as the promo code), sometimes you can get these just by chatting with KeyBank – if anybody knows any other work arounds then let me know in the comments. A $400 bonus is as good as it gets for KeyBank and the requirements are quite low, so if you can get it to work I’d jump on this offer. There is also a $300 offer that does have the e-mail me a code feature.

We will add this to the best bank promo page if anybody works out a way to get reservation numbers easily.

 

Useful posts regarding bank bonuses:



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Nancy
Nancy

The maximum bonus amount is $300 or $400?

V
V

The current direct link to offer goes here ($300 offer using the RETA0516 code): https://www.key.com/personal/promotions/dda/premium-products-get-300.jsp

$400 offer using the RETK0516 code link is: https://www.key.com/personal/promotions/dda/premium-products-get-400.jsp (crazy I know)

as far as I can tell, the terms are exactly the same

Steve
Steve

$400 is for Direct Mailer only. So if you aren’t targeted, just do the $300

Sarah N
Sarah N

Does this mean you have to actually live in these states? Or if I’m traveling for work, can I stop by in-branch and apply and qualify?

Keith
Keith

I am interested in knowing this as well. I work in NYC and there is a branch near my office, however, I live in NJ, so wondering if I could walk into the NYC branch an open an account there.

Mr. PTM

I would try using your NY work address when signing up (assuming your work is ok with that).

M. Smith
M. Smith

Or stop by and tell them, “I work across the street. I’d rather bank at a place near work as I don’t like the banks near home.” Or whatever.

R
R

I am a NJ resident and I opened hassle free account last December in branch during the $300 promotion. Not sure if there is any recent change in their policy. You could just try giving them a call. FYI. I opened in manhattan branch.

Eric
Eric

Just tried chatting with a representative and she was unable to give me a reservation code for the $400 offer because it was only available by direct mailer. She did give me the link to the $300 offer. Will try a couple more times.

Bobby
Bobby

Wow… huge bonus and of course its not nation wide :/

Jed
Jed

I see that Capital One 360 is listed under the acceptable forms of direct deposit for Key Bank. Can someone please clarify? Does this mean that if I were to do a transfer from a capital one 360 account of $500 that would be acceptable or am I missing something???

Yong
Yong

This is what I said all along. Capital One 360 worked in lieu of DD but How???

Please do not mince the words. Please be specific so other people can follow. We need detailed instruction. Just know it worked is not good enough. Whoever did it should expect
some people may ask questions. Good luck Jed.

Claire
Claire

How to get the reservation code? Both reservation code and offer code are needed.

John
John

Please correct this article.
Your Direct Link points to Key’s $300 offer but your text describes the $400 offer.

There are 2 offers, each requires a ‘reservation number’ (presumably from a coupon mentioned in the offer’s small print) and an ‘offer code’.

The $300 offer is at
https://www.key.com/personal/promotions/dda/premium-products-get-300.jsp
and says use offer code RETA0516

The $400 offer is at
https://www.key.com/personal/promotions/dda/premium-products-get-400.jsp
and uses offer code RETK0516

The small print for both offers says
“Offer code and reservation number required to redeem this offer. Offer is non-transferable. Coupon and offer code cannot be resold.”

Chun
Chun
Alex
Alex

Direct link to offer is to $300 page. Changing 300 to 400 in the URL gives you correct link.

Dert
Dert

Does anyone know a way to get a reservation code?

yhgfkj
yhgfkj

DOC im confused what’s the reservation number got the I requested the email on the $300 offer but don’t see reservation number ? where do I have to input this reservation number ? please clarify ?

Joe
Joe

Can someone tell me if there is something specific that I need to do when transferring from a capital one 360 account so that Key Bank’s DD requirement will be met?

Cattac
Cattac

Neither online chat nor phone representative gave me the reservation number since they said it was targeted only. Only got the $300 offer to work.

Alex
Alex

Was advised by chat rep that both $300 and $400 offers are for direct mailer recipients only, however they gave me a link for a $200 offer that is available for anyone:

https://www.key.com/personal/promotions/200-ps.jsp

BMac
BMac

Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.

Does this mean 12 months from the time of opening or from the time of closing? I opened a Key checking account on 06/12/15 and closed it down on 01/15/16, so I’m unsure if I’m eligible for this offer or if I have to wait until early next year. Thanks for any clarification.

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