Posted by William Charles on August 10, 2016
Bank Account Bonuses

Published on August 10th, 2016 | by William Charles

240

[MI, OH, AK, ID, IN, ME, UT, VT only] KeyBank $300 Checking Bonus

Update: This new offer is much more restricted than normal, it’s only available in the following areas:  Only residents of Ann Arbor MI, Alaska, Cincinnati OH, Columbus OH, Dayton OH, Idaho , Indiana (Central and Northern), Maine, Toledo OH, Utah and Vermont are eligible for this offer are eligible for this offer

Note: Some reports of them being sensitive to too many ChexSystems inquiries.

Note: You’ll receive a code like this: EDGF0417-000001406 (EDGF0417 is your promo code and the second string of numbers is your reservation code)

Overview:

  • Maximum bonus amount: $300
  • Availability: MI, OH, AK, ID, IN, ME, UT, VT only
  • Direct deposit required: Yes, one direct deposit 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:  Use promo code
  • 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: October 7th, 2016 November 11th, 2016 December 8th, 2016 January 13th, 2017 April 21st, 2017 June 30th, 2017

The Offer

Direct link to offer

  • Receive a sign up bonus of $300 when you open a qualifying KeyBank checking account with the promotional code “EDGF0417” and complete the following requirements:
    • Receive a qualifying direct deposit of at least $500 within 60 days of account opening

keybank $300

 

The Fine Print

  • Offer is available to new bank clients who have not had any type of account with KeyBank within the last 12 months (this includes credit cards and any cards that have been transferred to KeyBank. Thanks to reader Dave B)
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Qualifying accounts are: Key Express (this is the basic banking account in New York), Key Advantage®, Key Privilege® or Key Privilege Select Checking
  • Direct deposit transactions are limited to payroll, Social Security, pension and government benefits
  • Limit one gift per qualifying account. Limit one gift per individual
  • 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

Our Verdict

You’ll need to get them to e-mail you a coupon (option on the offer page) to complete this bonus. KeyBank offers a lot of bank account bonuses, sometimes they are targeted and other times they are open like this. The best offers they usually are as follows:

  • $400 bonus with these requirements
  • $300 bonus with the hassle free checking account

It’s a bit YMMV if they will offer a better public bonus than this in your area again so this can be a pretty strong offer.  I still think it’s worth doing if you don’t mind dealing with trying to keep the account fee free. You can view it as part of our list of the best bank offers.

Useful posts regarding bank bonuses:



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jason
jason

can i just apply online instead of going to branch, I was trying to apply online and did find a place to enter marketing code.

sybloc
sybloc

Don’t waste your time. Key bank won’t pay up. You’ve been warned.

james snider
james snider

Key bank was one of the easiest . But had to call customer service once because the chaged me fee even though my 8 automated deposits and withdrawls posted in the months

Help nyc kids text NGINEER to 22333

Nate S
Nate S

How long did it take to receive the bonus?

Frito Pendejo
Frito Pendejo

I just received my $300 bonus on Feb 22nd. I made my first deposit around Jan 22nd to meet reqs.

Thanks DoC

Tim
Tim

Key Bank may be Chex inquiries sensitive. My wife was approved yesterday with 6 inquiries YTD but I was denied today at 10 inquiries YTD.

Ben
Ben

Have tried a few times with a few different NYC zip codes and browsers but it always errors and directs me to go in-branch.

KF
KF

That’s what it did to me, I just went in person to the 22nd Street NYC Branch…Stefan was pretty cool.

Jason
Jason

Data Point:
1) When applying online, you have to enter zip code 12345 otherwise if you enter other zip code including your real home zip code, you just got the error message saying you cannot apply online.
2) You can change this zip code 12345 to your real zip later when filling out your address
3) A promotion code and a reservation code are required. When you receive the email, the reservation code is actually the 2nd part number that is followed by the promotion code. That is, see the message says “To redeem in-branch or via phone, provide code EDGF0816-000065432 when opening your account. Call 1-800-539-5202 or visit your local branch”. 000065432 is what you need to enter for the reservation code. It’s a 9 digit number. Please also note that the reservation code is tied up with the promotion code, you cannot proceed if using different paired numbers. For example, the $400 code is RETK0716 will end on 9/17/2016 and that will not work with any reservation code in the email for the $300 offer.
4) Checking account # is issued instantly after application approved. Be sure to write that down, you can either enter your debit card number or other account number including checking, therefore that means you can access online banking right after application approved by using your checking #.
5) I received the confirmation email that shows my 2nd checking account has the promotion code posted there. So you should be getting this email too if your registration with the promo code was entered correctly at the beginning.
6) I’ll see if my 2nd checking will have the bonus posted since I failed to do so properly for my 1st checking opened in July. Although I created a 2nd user name for online banking, but Key bank linked my 2 accounts together so I know they go by SSN. I’ll keep you posted whether the bonus for 2nd account posted or not.

Juba
Juba

I second this DP. I was unable to open the account using my zipcode in queens. I used Jason’s trick and was able to open.

Phillip M Dampier
Phillip M Dampier

There are a LOT of ancillary fees with most Key Bank checking accounts, so review the MULTIPLE disclosures very carefully, because they all have fees you won’t see on their basic fee disclosure. Key Bank charges $1.50 per call for more than 3 customer service contacts in a month for any reason, so be judicious. $5 monthly inactivity fee applies after 90 days of no customer-initiated transactions.

Also note these other hidden fees in Disclosure Statement and Terms and Conditions for Electronic Fund Transfer Transactions:

KeyBank ATM Card Charge. If you possess only a KeyBank ATM Card and not a KeyBank Debit MasterCard, KeyBank Enhanced Debit MasterCard or a KeyBank World Debit MasterCard your primary account linked to the KeyBank ATM Card will be charged a $1.00 monthly KeyBank ATM Card fee. If you possess only a KeyBank ATM Card and any of the three KeyBank Debit MasterCards or only a KeyBank Debit MasterCard, KeyBank Enhanced Debit MasterCard or a KeyBank World Debit MasterCard you will not be charged this fee.

ATM Mini Statement Fee. If you select the transaction titled “Statements” at a KeyBank ATM you may receive a mini statement. This “mini statement” transaction will provide you with four options; the last five debit card transactions, the last five checks paid, the last five deposits made or the last ten transactions made on your checking or savings account. Each option is considered a separate transaction and your account will be assessed a $1.50 fee for each requested transaction. The information provided is based on our system retention schedule. The “ATM Mini Statement” neither represents nor replaces your periodic bank account statement.

Account to Account Transfer Charge. A $3.00 charge will be assessed to the Account from which the funds are transferred for transfers between accounts completed by a Bank representative.

Card Replacement Charge. If you request a replacement Card a charge of $5.00 will be assessed. If you request that a replacement Card be overnighted to you, a charge of $25.00 will be assessed. The charge will be reflected on your statement as “Banking Card Replacement Charge”.

sam
sam

thanks!

Cattac
Cattac

dp:

07/11 account open online with $100 deposit from southwest credit card
07/25 $500 direct deposit from discover credit card reward
07/21-07/26 made 8 transactions of $0.5 through amazon to waive monthly fee
08/19 $300 posted

sam
sam

what kind Amazon transactions?? thanks

info please
info please

Im guessing gift card balance reloads…

Adam
Adam

How did the discover credit show up on your keybank account? Did it show as P2P?

DY
DY

After submitting my application on the website, I got a message saying my application couldn’t be processed online and I need to go to a branch. What might be possible reasons for this? I opened checking and savings accounts at Chase earlier this month but nothing else for the past 2 years. My guess is some sort of verification issue as I’m not a US citizen and just moved to a new address 2 months ago. Any thoughts?

There is a Key Bank branch not too far away from me, but their hours aren’t very convenient for me to visit.

DY
DY

It seems like this was because my driver’s license expires next month. I used a passport instead and it went through.

stacker
stacker

There’s a new offer that expires 10/7/16 using offer code EDGF0916. I didn’t read anything about needing a reservation code also like the previous offers, unless I missed it.

sam
sam

hey, where did you get the eligible states??? I just tried to open one account – from New Your City, it saying “We are unable to complete your request. Please visit your local branch to open an account.” BUT it’s ONLINE promo only. I went to my local branch to double check and they said promo is only online. And then I called KEYBANK and they said it’s not for New York. They have different promo for $200 which can be found somewhere online or at local branch……

sam
sam

I see now, they excluded some cities – Brooklyn, New Your City (Manhattan) ETC… that’s crazy… did they mentioned it somewhere in the promo? I though State is a State – not some specific cities… my zipcode “11230” Brooklyn, but they allow to open account for Bronx with this zipcode “10470”

sam
sam

People can call KeyBank and sometimes they will help you to open account through the phone!!

Fred
Fred

It’s not “a total of $500.” It’s “one direct deposit of $500 or more.” Your posts on these Key offers are mixing the language from different offers. I got burned by this on a previous offer, so please be precise. Thanks.

Jed
Jed

Got an error message saying reservation code is required. I tried following Jason’s instructions and emailed myself a coupon from the website but putting in the 9 digit number did not work. It gave me an error saying invalid reservation code.

Any ideas?

Jason
Jason

is the code you received from email looks like this?: EDGF0816-0000*****

Jason
Jason

sorry, expiration date is 9/2 so guess it’s not working any more?

Andrew
Andrew

extended til october 7. A keybank is opening in my neighborhood in PA (Pittsburgh).

Wonder if it would be available there… might just open in branch with the coupon.

sam
sam
yussuf

Just applied over the phone as was having issues with the reservation code. Apparently the second sequence of numbers following the dash (EDGF0916-000001406) is the reservation code with the former being the promo code. No funding over the phone, but they did give an option via mail. If that happens, gonna go ahead and try the CFU and give you guyz some DPs

sam
sam

“CPU” ?
“DPs” ?
Thanks)

info please
info please

damn.. you might want to apply for the credit card too.. got pre-approved offer and the approved with a HUGE starting limit.

Bungy
Bungy

Are the credit cards worthwhile? Seemed average rewards when I looked

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