[Targeted] KeyBank $400 Checking Bonus [AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, WA only]

Update 7/23/19: Deal is back, just remember that this requires the offer code as well as the promotional code. You won’t have this unless you were targeted. Now marking this as targeted. Hat tip to DDG

Offer at a glance:

• Maximum bonus amount: $400
• Availability: AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, 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: None
• Hard/soft pull: Soft
• Credit card funding: Up to $100
• Monthly fees: $0 – $18, waive-able
• Early account termination fee: $25 if closed within 180 days of opening
• Expiration date: October 26th, 2018 August 23rd, 2019

The Offer

Direct link to offer (says they won’t honor offers found on third party sites. I’d recommend copy and pasting into a new browser rather than clicking the link)

• Open a qualifying KeyBank checking account with the promotional code RETK0918 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. Normally you need a reservation code as well as the promo code, I went through some of the app and no reservation code was needed.

The Fine Print

• 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 $400.
• 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 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 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.
• 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 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

This is as high as this particular bonus gets. Fingers crossed no reservation code is needed, I somewhat suspect it will be but previously it was required earlier in the application process so it’s possible it’s no longer required. If it turns out that it isn’t required then this will be going on our list of the best bank account bonuses.

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

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull 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
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times