[AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA] Keybank $300/$500 Checking Bonus

Update 8/29/25: $300 offer still available, but a new $500 offer available as well.

Offer at a glance

Maximum bonus amount: $200
Availability:AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, or WA
Direct deposit required: Yes, $2,000+ required
Additional requirements: Use promo code
Hard/soft pull: Soft pull
ChexSystems: Mixed DP, most likely does. Also reports of being ChexSystems sensitive.
Credit card funding: Can fund up to $50
Monthly fees: $7, avoidable
Early account termination fee: ~~$25~~ None
Household limit: None
Expiration date: ~~November 8th, 2019 April 24, 2020~~ ~~July 17th, 2020~~ ~~September 18, 2020~~ ~~October 23, 2020 November 20, 2020~~ ~~August 12, 2022 March 3, 2023~~ July 21, 2023

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
4 Our Verdict

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 KDMA0825
- at least $2,000 in eligible direct deposits within 90 days of account opening
Or earn $500 when you open a Open a Key Select Checking and complete the following requirements:
- Use offer code KDMB0825
- at least $5,000 in eligible direct deposits within 90 days of account opening

The Fine Print

Offer available online only.
You must open a Key Express Checking® account (this is the basic banking account in NY), Key Advantage® checking account, Key Privilege® checking account, or Key Privilege Select Checking® account by the expiration date and make ONE single KeyBank direct deposit of $500 or more within 60 days after account opening to get $200. Normal account service charges and balance requirements apply to these accounts.
Direct deposit transactions are limited to: payroll, Social Security, pension and government benefits. Accounts titled as Trust Accounts, Estate, and No Access are excluded from eligibility. Employees of KeyBank, its affiliates and subsidiaries are not eligible for this offer. Offer/Reservation number is non-transferable, cannot be sold and is required to qualify.
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 60 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.
Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.
Accounts overdrawn or closed at the time of gift payment are not eligible.
Offer is subject to cancellation without notice and cannot be combined with any other offer. KeyBank is not responsible for and will not honor promotional offers that appear on third-party websites that are not authorized by KeyBank.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Key Smart Checking No Monthly Fee

This is a new account that can be opened with no monthly fee to worry about.

Select Checking Account ($500 Bonus)

This account has a $25 monthly fee, this is waived with any of the following

The combined balance in any combination of KeyBank checking, savings, certificates of deposit, retirement deposit, and Key Investment Services LLC (KIS) accounts was $15,000 or more during the statement cycle. OR
You have eligible direct deposits totaling at least $3,000 during each statement cycle.

Early Account Termination Fee

Looks to be $0 now.

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

Our Verdict

Nice to see an increased $500 bonus and there is also the $300 bonus still there if people prefer that. The $500 bonus is harder to keep fee free, really need a direct deposit of $3,000+. Thankfully we have lots of datapoints on what codes as a direct deposit. We will add this to our list of the best bank account bonuses.

Useful posts regarding bank bonuses:

Post history:

Back until October 17, 2025 with code ADMA0525
Back until 6/27/25 with code KDSA0325
Update 12/23/24: Deal is back until March 21, 2025.
Update 9/6/24: Deal is back and valid until December 20, 2024. Hat tip to knuds1b
Update 6/25/24: Deal is back and valid until 9/20. This time for $300
Update 4/25/24: Deal is back until 5/10/24
Update 3/19/24: Deal is back.
Update 1/21/24: Deal is back, only $200 this time. Valid until March 15, 2024.
Update 12/11/23: Bonus is now $300 with promo code LDSB1223. Sometimes with the bonuses that are for $200+ they require a second code but this was advertised on FB/Instagram so it should be good. Valid until January 19, 2024.
Update 10/27/23: Deal is back with promo code ONAS1023.
Update 9/18/23: Deal is back until October 13, 2023
Update 7/27/23: Deal is back, expires 8/18/23
Update 5/31/23: Back again until June 16, 2023.
Update 4/17/23: Back again until May 20.
Update 3/14/23: Deal is back and valid until April 7, 2023.
Update 2/3/23: Deal is now good through 3/3/23. Direct deposit is required again.
Update 12/17/22: Deal is back and valid until 1/6/23.
Update 7/20/21: Extended until August 13, 2021. Hat tip to PD
Update 6/14/21: Extended until July 9, 2021.
Update 11/28/20: Deal is back and valid until 1/22/2021
Update 11/4/20: Deal is back and valid until November 20, 2020.
Update 9/22/20: Deal is back and valid until October 23, 2020. Hat tip to reader Don B
Update 9/13/20: You can now open a key smart checking account with no monthly fee. Hat tip to Kyle.
Update 8/17/20: Available again until 9/17/20 with code ONAS0820. Hat tip to Trampdad
Update 7/24/20: Available again until 8/14/20.
Update 6/28/20: Deal is back and valid until July 17th, 2020. Hat tip to reader Jake W
Update 4/26/20: Deal has been extended until May 15th, 2020.
Update 12/10/19: Deal is back and valid until April 24th, 2020. Hat tip to kas141
Update 8/26/19: Deal is available again. Hat tip to reader Dan R