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
Contents
The 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.
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:
- A Beginners Guide To Bank Account Bonuses
- PSA: Don’t Call The Bank
- Introduction To 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
I applied for the $400 deal, but just checked that I did not have a reservation number. My account was approved, but nothing said about the bonus. I’ll just have to wait.
ONGOING
https://www.key.com/personal/promotions/dda/get-400-cash.jsp?sqkl=get400cash_alias
Please answer!
1. Up to how many percentage we are paying for are bonuses? Up to 30% ?
2. Just received letter from KeyBank that they need my signature to avoid back up withholding. Who can tell me what is it exactly? So they won’t tax my interest (and bonuses) right away I need to avoid it? But in the end of the year, I when I file taxes I will pay tax on my bonuses? I’m confused with this term. Thanks
1. Up to how many percentage of TAXES we are paying for our bonuses? Up to 30% ?
I was able to get a reservation code for the $400 by calling a local branch. If you get a rep who won’t help, HUCA
wow, when did you get it? In what state? I though it’s impossible to get it. What did you tell them? Because this only TARGETED promotion!
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.
Time of closing from my reading.
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
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.
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?
Nothing specific, just hope it works!
After making the transfer is there a way to look at your account and determine if it was considered a DD? Would you recommend contacting Capital One 360 CS to see if it meets their DD requirement? Sorry for the multiple questions, I’m just not sure how I will be able to determine if it will be considered a DD until it is too late… due to only having 60 days to make a DD and it taking up to 90 days to receive bonus, if it works.
No, never contact them as that just draws attention to your account. If it shows as P2P it won’t be counted at some places, I usually just rely on the datapoints others have given as that is updated whenever we have a data point. Make sure you keep us updated with whatever you use so others can benefit, any other questions just ask.
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 ?
Does anyone know a way to get a reservation code?