Posted by William Charles on February 26, 2018
Bank Account Bonuses

Published on February 26th, 2018 | by William Charles

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

This deal has expired, view more checking bonuses by clicking here.

Offer at a glance

The Offer

Direct links to offers: $300 | $200 | $100

  • KeyBank is offering a sign up bonus of $300 when you open a new Key Advantage, Key Privilege or Key Privilege Select Checking Account checking account with offer code OASP0218 and complete the following requirements:
    • Receive a direct deposit of $1,000 or more within 60 days of account opening
    • Receive a combination of five debit card and/or bill payments within 60 days of account opening
  • KeyBank is offering a sign up bonus of $200 when you open a new KeyBank Express checking account with offer code OAPE0218 and complete the following requirements:
    • Receive a direct deposit of $500 or more within 60 days of account opening
    • Receive a combination of five debit card and/or bill payments within 60 days of account opening
  • KeyBank is offering a sign up bonus of $100 when you open a new KeyBank Hassle Free checking account with offer code OASH0218 and complete the following requirements:
    • Receive a direct deposit of 300 or more within 60 days of account opening
    • Receive a combination of five debit card and/or bill payments within 60 days of account opening

The Fine Print

  • Offer available in certain branches in the following markets: Seattle, WA, Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Albany, NY, Hartford, CT and New Haven, CT.
  • Offer is available to clients who do not have or haven’t had a KeyBank Hassle-Free Account® or a KeyBank checking account during the past 12 months.
  • Receive $100 when you open a KeyBank Hassle-Free Account between 02/23/2018 and 06/01/2018 and make a single recurring direct deposit of $300 or more within 60 days after account opening.
  • Receive $200 when you open a Key Express Checking® Account (this is the basic banking account in New York) between 02/23/2018 and 06/01/2018 and make a single recurring direct deposit of $500 or more within 60 days after account opening.
  • Receive $300 when you open a Key Advantage®, Key Privilege® or Key Privilege Select Checking® Account between 02/23/2018 and 06/01/2018 and make a single recurring direct deposit of $1,000 or more within 60 days after account opening.
  • Direct deposit transactions are limited to payroll, Social Security, pension and government benefits.
  • Coupon/code required to qualify.
  • Coupon/code cannot be sold.
  • Key is not responsible for and will not honor promotional offers that appear on third party websites that are not authorized by KeyBank.
  • Limit one gift per qualifying account. Limit one gift per individual.
  • The value of your gift will be reported on Form 1099-INT.
  • Your gift will be 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.
  • Accounts overdrawn or closed at the time of gift fulfillment are not eligible for this offer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Key Advantage Checking Account $18 Monthly Fee ($300 Bonus)

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

  • The combined balance in any combination of KeyBank checking and savings deposit accounts, certificates of deposit, retirement deposits, investment account* (including annuity balances reflected on your KIS account statement) and credit accounts was $10,000.00 or more.
  • You have a mortgage originated through KeyBank and you have an automatic payment deduction plan 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.
  • 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 should leave your current employer and direct deposits have been 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.

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:

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

KeyBank Hassle-Free Account No Monthly Fee ($100 Bonus)

This account has no monthly fee to worry about

KeyBank Relationship Rewards Membership Fee $30

This is optional so make sure you opt out of it.

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

They have offered better bonuses in the past (e.g $300 for opening Key Express account) unfortunately we don’t really see those offers anymore and this seems to be the new standard offer. Because of that I would recommend doing this bonus as it’s doubtful better bonuses will come along. It’s a little annoying how restricted this bonus is, but such is life. As mentioned I will add this to our best checking bonus page.

Big thanks to reader, TimF who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:



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bob
bob

I have this from the fall promo….I got charged the monthly fee of $18 this month. Is the only way for me to keep it fee free to have $10k parked there? I did an alliant 1k push hoping it would work to keep it free, but I guess I misunderstood the Key@work program.

Yet Another Redditor

If you have received your bonus, can you downgrade to the KeyBank Hassle Free account https://www.key.com/personal/checking/key-bank-hassle-free-account.jsp to avoid ongoing fees?

Bob
Bob

Will try. Thank you.

Alessandro
Alessandro

How’d that go? Did it work? I was considering just closing the account and eating the $25 as i can recover that somewhere else.

Emil
Emil

Single direct deposit of 1,000,. Meaning if i receive 4 direct deposits each for 600$ within the 60 days i wont get the bonus even though those direct deposit equal 2,400? Did i get thst right

Stepehen
Stepehen

Nope! This was my down fall when I tried this promo last year

Yet Another Redditor

How did TimF find this link/deal? I have Googling variations of a query to find this and trying to guess the offer codes after the $400 link came up.

Anyway, thanks for this!! I will get to this offer during a trip up to Philly.

Gadget
Gadget

Good luck with that – they are (or can be) Chex sensitive. I’m in SE VA, and while passing by Pittsburgh I got shown the door last summer when trying KeyBank. I explained before I even applied that I have had several recent bank accounts, and the banker said it shouldn’t matter, but he also explained that the system decides who gets an account and all he does is put in the data. When I got the denial while sitting in the chair, the banker implied it was ChexSystems fault and they shouldn’t have me on that list (like a bad check writers list). I just cringed, as I haven’t written a bad check in my life and have exceptional credit.

Anyway, those that try this, report back how many accounts you had in the last 12 & 24 months and a pass/fail rate. I was probably at 15/25, as that was just after a good M&T run.

TimF
TimF

Just a quick google of checking account sign up bonuses in my area. Was looking for a new one to do and stumbled across this. I am doing the $200 offer, personally. Good luck!

Yet Another Redditor

Sucks that this is not offered in Philly now.. Only Pittsburgh close to Northern VA 🙁

Patti
Patti

Did you try anyway?

Dan
Dan

Given the high fee waiver requirements of the key advantage.. might go for the $200 offer instead

James
James

If you failed to receive the bonus the last time around, can you qualify for the bonus by creating a new account? It says “Limit one gift per qualifying account. Limit one gift per individual.”

Stepehen
Stepehen

Offer is available to clients who do not have or haven’t had a KeyBank Hassle-Free Account® or a KeyBank checking account during the past 12 months.

jake
jake

Why not do the $350 bonus and eat the $25 early closing fee? Still Much more than a $200 bonus that you can keep fee free.

anthony
anthony

where do you see this?

John
John

Offer available *in certain branches* in the following markets: Seattle, WA, Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Albany, NY, Hartford, CT and New Haven, CT.

Coupon/code required to qualify.
Key is not responsible for and will not honor promotional offers that appear on third party websites that are not authorized by KeyBank.

Is it targeted if opened in-branch? What should I tell the branch employee if I wanted to use one of the offer codes?

Zack
Zack

I had a targeted mailer (for $200, offer code NMVE0318) here in Seattle as a backup and tried to get the $300 bonus in-branch. They were unable to open the account in-branch with the $300 bonus because it “didn’t have a reservation code.” Oh well, I used the targeted mailer and applied the

I had the branch manager call the backoffice to explain the situation (and hopefully apply the $300 bonus) and they just returned my call this morning — they can’t open accounts with the OASP* offer codes in-branch as they are online only.

Side-note: attempting to fund $100 in-branch with my WF biz plat coded as a cash advance and did not revert. It seems like (at least in Seattle) going in-branch is a mistake — stick to opening the account online for this bonus.

aabt
aabt

In my area the monthly fee for the Key Privilege Checking account is waived for the first 3 months. Previously this was enough time for me to get the bonus and then downgrade the account.

Double check for your zip by clicking on Rates & Fees.

Doc may be worth putting this note in the post

John
John

this is now valid online only, for residents of the select areas above. in-branch offer expired 4/6/18, at least in the albany area (verified by visiting 2 locations).

vipul
vipul

Wife was unable to open online and visiting a branch in Pittsburgh today. Was told this is an online only offer.

William F
William F

I was also told it’s online only after already applying in branch even though the link doesn’t say that anywhere

Hoff
Hoff

Data Point: Pushed 1K from Capital One to Keybank and it counted as a DD.

William
William

from Capital One 360?

William
William

from Capital One 360??

Nick B
Nick B

I was unable to downgrade to a no-hassle checking account. Apparently you cannot downgrade to a non-check writing account from a check writing account. I was able to downgrade from Key advantage to key express.

z-nut
z-nut

I was also told I could not downgrade to a hassle-free checking account.

Ampersand
Ampersand

I downgraded from Advantage Checking to Express Checking over the phone. I requested a downgrade via secure message, but no luck.

drtruff19
drtruff19
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