Posted by William Charles on July 23, 2019
Bank Account Bonuses no image

Published on July 23rd, 2019 | by William Charles

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[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:



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Law
Law

NYC – received the following error message after putting in my zip code:

Unable to complete your request.

We are unable to complete your request. Please visit your local branch to open an account.

Mojito
Mojito

Same, are you a resident or a citizen? I had also opened a US Bank checking account 3 months ago, so could be because of that too.

SamSimon
SamSimon

you can try different zip code then change it to your in application

Jason
Jason

I’m getting an error that a Reservation Code is required (in addition to the Offer/Marketing Code the good Dr provided above). This might be a bummer.

SamSimon
SamSimon

It usually means with KeyBanks that your Zip code is not targeted….

Yoni
Yoni

Key EWS/CHEX sensitive?

TIA

raekwon
raekwon

Definitely Chex sensitive.

AD
AD

Wu-Tang churns!!

t
t

NM

PR
PR

I was bounced on chex review.

JM
JM

Offer/Marketing Code The Offer Code requires the Reservation Code. Please enter the Reservation Code to proceed.

t
t

On the final confirmation page, it says – “The Offer Code requires the Reservation Code. Please enter the Reservation Code to proceed.”

Peek
Peek

I tried a couple times. First time many security questions didn’t apply to my history I said “none of the above” and it told me to visit a branch. Second time the questions were even more out there about a car loan I never had and asked for details about it. Resulted in a “visit your branch” message as well.

Yoni
Yoni

Peek

CRB Frozen? Seems – biggest issue with Equifax/Lexis-Nexis many of the ID verification’s pull – had same issue with a CU earlier this year with EQ frozen – same “none of the above” experience

Peek
Peek

I do have experian frozen, I wonder if that’s the issue. Thanks for the tip.

Peek
Peek

I unfroze and tried to open their 200 dollar bonus account. Got through the app but then got denied because of Chex. At least that explained the security questions issue.

GMK
GMK

I am in OH and was working through the application, but because I had a Key Bank Checking Account a few years ago (and received the $300.00 bonus at that time), once I fill out some of the application first page it recognizes me as a former customer and tells me to log in with my Key account. After trying to do so, I get a message to call Customer Service. I have not done so yet, but suspect the fact that I did a bonus a few years may be an issue.

AllwaysLearning22
AllwaysLearning22

IMO, not likely. If it has been more than 12 months since you have closed your account you should be eligible.

The fine print says “Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.”

psh
psh

GMK, i had a similar experience several months ago but it was just because my Key bank login had expired. Had to call customer service to get it reset (or a new login… i forget).
As AllwaysLearning22 says, you should be fine if it’s been more than 12 months since closure.

Ace Malik
Ace Malik

As others mentioned reservation code required

Johnny
Johnny

Chex sensitive. Denied with 4 new accounts within past 3 months

GH
GH

+1 Got denial due to Chex report.

SamSimon
SamSimon

Hey guys, can you share your City, and States? This promo attached without issue to your account? Without any reservation code?
AS my theory many Keybanks promos attached to specific zip codes and usually without need of any reservation code.

Alex Coombs
Alex Coombs

Once you get near the end of the app they do require a reservation code as well as the RETK0918 code. They ask you to put it in right before you submit the completed application. Does anyone have any idea how to get one of these codes? I’m planning on going into a branch tomorrow to ask about it, will report back.

AllwaysLearning22
AllwaysLearning22

Would be interested to know the outcome of this.

Ted
Ted

Anyone try this in-branch? I’ll be going today with my mother (to help here open a CD), so I’ll try this as well and report back.

NBG
NBG

FWIW, based on past experience with $400 offers, it is a no-go without reservation code. In branch is of no use unless u have a marketing person who knows about this and to get one. I tried last year for the $400 without code and no luck. What’s bizzare is after i opened account, I got a $400 code in snail mail- which they can’t update to the account once opened.

jpv
jpv

Utah DP: Need a rez code, doing the 300 instead.

Jason
Jason

Well for the heck of it I tried using the reservation number from the $300 mailing I received, for this $400 offer. As expected it does not work. But thought I’d try. Might as well go for the $300 off then.

DeezButtz
DeezButtz

I Pushed $500 from Capital One 360, and it says it will appear on my statement as “CHECKING ACCOUNT DEPOSIT DEP” Has anyone confirmed recently that this is counted as a direct deposit?

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