Posted by William Charles on May 10, 2019
Bank Account Bonuses

Published on May 10th, 2019 | by William Charles

138

[Expired] [Select Areas In OH, PA, CT, WA, NY, CO] Keybank $300 Checking Bonus

Deal has expired, view the best current checking bonuses by clicking here.

Update 5/10/19: Deal is back and valid until May 31st, 2019. Deal has different areas again. Hat tip to reader DirtyLilRat

Update 3/16/19: Deal is back and valid May 3rd. Deal has different area requirements now as well. Hat tip to reader Billy

Update 2/18/19: Deal is back and valid until May 31st, 2019. Hat tip to reader Frank.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: Offer available in certain branches within the following markets:
    • Albany NY, Colorado, Columbus OH, Central IN, Connecticut, Maine, Oregon, Seattle WA and Utah
    • Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Hartford, PA, New Haven, CT, Seattle, WA, Denver, CO, Albany, NY, Syracuse, NY, Rochester, NY and Buffalo, NY
  • Direct deposit required: Yes, $500+ required
  • Additional requirements: Use offer code OASP1118
  • Hard/soft pull: Soft pull
  • ChexSystems: Mixed DP, most likely doesAlso reports of being ChexSystems sensitive. 
  • Credit card funding: Can fund up to $100
  • Monthly fees: $18, avoidable
  • Early account termination fee: $25
  • Household limit: None
  • Expiration date: January 18th, 2019 May 31st, 2019 May 3rd, 2019

The Offer

Direct link to offer

  • KeyBank is offering a bonus of $300 when you open a new eligible checking account and complete the following requirements:
    • Use offer code ONSA0319
    • Receive a single direct deposit of $500+

 

The Fine Print

  • Offer available in certain branches within the following markets: Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Hartford, CT, New Haven, CT, Seattle, WA, Denver, CO, Albany, NY, Syracuse, NY, Rochester, NY, and Buffalo, NY.
  • Offer available if you haven’t had a KeyBank Hassle-Free Account® or a KeyBank checking account during the past 12 months, open account between 11/3/18 and 1/18/18 and set-up direct deposit.
  • Get $300 when you open a Key Advantage®, Key Privilege® or Key Privilege Select Checking® account.
  • You must make ONE single direct deposit of at least $500 into the new account. Direct deposit must be made within 60 days of account opening and is limited to payroll, social security, pension and government benefits.
  • Offer/Reservation number cannot be sold and is required to qualify. KeyBank is not responsible for and will not honor promotional offers on third party websites that are not authorized by KeyBank. Visit key.com for any checking account service charges and balance requirements.
  • 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 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. Other miscellaneous charges may apply. Accounts overdrawn or closed at the time of gift payment are not eligible.
  • Employees of KeyBank, its affiliates, and subsidiaries are not eligible. Accounts titled as Trust Accounts, Estate, Non-Individual, and No access are excluded from eligibility. Offer is subject to cancellation without notice and cannot be combined with any other offer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

The easiest account to keep fee free is the Key express checking account. This account has a $7 monthly fee and is waived if you do any of the following:

  • Have at least eight (8) customer initiated transactions (ANY deposits, withdrawals, including transfers) on your Key Express Checking Account or
  • have deposits (including transfers into this account) totaling $500.00 or more credited to your Key Express Checking Account.

This account is only available in New York

The easiest account to keep fee free for other states is the advantage checking account. This has a $18 monthly fee and is waived if you do any of the following:

  1. Any combination of balances from your KeyBank checking, savings deposit, certificates of deposit, retirement deposits, investment* (including annuity balances reflected on your KIS account statement) and credit accounts was $10,000.00 or more.
  2. You have a KeyBank originated mortgage and you have automatic payment deducted via ACH deducting $500.00 or more from your Key Advantage Money Market Checking account during a statement cycle. If your mortgage automatic payment deduction plan should be discontinued, you may be subject to the combined balance requirements to avoid the monthly Maintenance Service Charge.
  3. You are a Key@Work program member and you have direct deposits totaling $1000.00 or more credited to your Key Advantage Money Market Checking account during a statement cycle. If you leave your current employer and direct deposits are discontinued, you may be subject to the combined balance requirement to avoid the monthly Maintenance Service Charge until direct deposits are reinstated by your new employer.

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.

Our Verdict

They had a similar bonus recently, three important differences:

  • This bonus doesn’t require 5 debit card/bill payments
  • The keybank express checking account no longer qualifies (easier to keep fee free)
  • The fine print on this offer states it’s available in certain branches, whereas the old offer didn’t mention branches at all. I think you should still be able to do this deal online but YMMV

This deal isn’t as good as the old deal, but the locations it’s available in are completely different so it’s probably still worth doing even though it’s harder to keep fee free. Sometimes Keybank bonuses require both an offer and reservation code, I’m not sure if this is the case here or not. Please share your experiences in the comments below.

Hat tip to DDG & reader Keith L

Useful posts regarding bank bonuses:



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Chris
Chris

Up above you say $100 early termination fee (the link doesn’t seem to verify this), and down below you say $25 term fee. Afaict it seems like it would make more sense to take the $25 (assuming this is what it is) term fee than keep $10,000 locked up for 180 days. $275 on $500 isn’t bad though…

The Jackal
The Jackal

Yep. I just put in my spreadsheet “cancel after receiving bonus”. No-brainer. This is the first time I’ve done a Key Bank bonus. In the past they didn’t consider my zip code to be qualified. No new branches in the area….

I wonder if I can get the same bonus in the future even after closing the account early and paying the $25 fee?

Chris
Chris

Zip code of 11215 (NY) returned: We are unable to complete your request. Please visit your local branch to open an account.

JASON
JASON

You have to use their headquarters’ zip code 44114 when opening an account online. You cannot use your real zip code as it always saying “unable to complete your request. Please visit your local branch to open an account.”

Try to clear the cookies on your browser if you’ve entered your real zip code and failed.

I had an account and closed already 3 years ago but they still keep my login info. I have not opened an account yet.

Joe
Joe

Key Advantage Checking is waived for the first 3 months according to their website. BTW, I was able to open this account with the Promo Code and I live in NYC and the closest branch to me is only 10 miles away or so (as I’m in the Bronx).

Pudding
Pudding

I used my real zip code (within one of the promo cities) and account was approved with the offer code, no problems. Never had a Keybank account before this one

Frugal Nellie (Lela)
Frugal Nellie (Lela)

I’ve had perhaps 2 previous accounts with them and a current credit card. This new account linked to my credit card under current login and opened just fine. Two local branches (WA) said this is an online only offer and could not be opened in branch.

ChurnForTheBurn
ChurnForTheBurn

FYI, header of this offer has a wrongly directed link. The credit card funding link takes me to info about whether ChexSystems is pulled or not pulled by KeyBank

Hussain
Hussain

denied online in PA – chex inquiries – offered me a free account instead

Nicole
Nicole

Can anyone please share the screenshot with all terms & conditions of key bank promo that expired on January 18th, 2019 ? I missed saving it and now the link is dead…
Would really appreciate the help

XenaWP
XenaWP

I made a PDF copy of the offer terms, but for some reason my computer won’t let me copy/paste the text. Here’s a screenshot. Hope it helps, and let me know if you need anything else!

https://imgur.com/a/k87PnUM

Frugal Nellie (Lela)
Frugal Nellie (Lela)

Thank you for me too 🙂

Ed Elliott
Ed Elliott

Key Bank Promo for $500 for opening a checking.

Link: https://www.key.com/personal/promo/get-500.jsp?ef_id=W8QsAgAAAHvY6zam:1547791229715:d&s_kwcid=AC!DnNVJA5cCSiOljWCgtMs!c3kPhWK2VRiS61jtDZ3U&ppc=1901_CMPCON_RETQ0119_dm

Want to make sure I am reading it right, but seems like DD required of $500 or more. Other than that, seems like a good one.

William Charles

Ed Elliott
Ed Elliott

FYI- [removed reference to bad blog] comments are saying its invitation only.

WZ
WZ

Opened account despite getting denied by two other banks around the same time due to Chex. Funded $100 with CSP.
1/15 Chase ACH
1/28 $300 bonus

Frugal Nellie (Lela)
Frugal Nellie (Lela)

Jan 23 “ACH,(Lela and my last name) transfer from Inspirusolb”. This is Inspirus CU.
Jan 4 $300 bonus “Gift” posted

I had penny transactions to link accounts and Chase Bus checking shows as direct deposit on those, but my CU showed as ACH transfer. But the bonus credited on the ACH transfer! I hadn’t done a Chase transfer yet!

Josh C
Josh C

Jan 31 – DD from Employer
Feb 13 – $300 bonus “Gift” from Key Bank posted

Painless experience here.

frank
frank
Frank
Frank
mlkdecow07
mlkdecow07

Jan 07 – PayPal DD
Jan 23 – $300 bonus

Was able to downgrade account after bonus paid out by calling (SM would not work).

Pudding
Pudding

To KeyBank Hassle Free Account?

Novacat05
Novacat05

Can anyone confirm this works online anywhere and not in the listed markets? The website terms state: “Offer available online only. Offer available in the following markets ONLY: Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Hartford, CT, New Haven, CT, Seattle, WA, Denver, CO, Albany, NY, Syracuse, NY, Rochester, NY, and Buffalo, NY.”

Clicking Apply Online takes you to an app page with the promo code populated as part of the address, and putting in my zip(Philly suburbs) seems to allow you to proceed with the application.

KT
KT

I can confirm it’s not necessarily limited to those specific places – Colorado Springs, CO and I was able to open the account online (I wasn’t able to do so late last year so something changed recently)

Tom
Tom

Fine print says

“Offer available if you haven’t had a KeyBank Hassle-Free Account® or a KeyBank checking account during the past 12 months, open account between 11/3/18 and 1/18/18 and set-up direct deposit.”

I wonder if there could be a typo in these dates (“between 11/3/18 and 1/18/18”): normally one puts the earlier date first when giving a range of dates.

So maybe the date range should read “between 11/3/18 and 1/18/19”?

Curious because I closed my last account with them on 2/1/18.

Millennial Outrage

Dates are now between 1/19/19 and 5/31/19. Dates in post are from original offer. DoC doesn’t typically re-update the Fine Print every time an offer renews unless there was a major change.

Nathan
Nathan

Wait so if I live in Long Island NY I will not get the bonus? 🙁 .

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