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

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: ~~April 28th, 2017~~ September 15th, 2017

Contents

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

The Offer

Direct link to offer

Open a qualifying KeyBank checking account with the promotional code RETK0117 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

The Fine Print

You must open a Key Express Checking^® (this is the basic banking account in NY), Key Advantage^®, Key Privilege^SM, or Key Privilege Select Checking^SM by the expiration date and make one direct deposit of $500 at the minimum within 60 days after account opening to get $400.
Offer code and reservation number required to redeem this offer. Offer is non-transferable. Coupon and offer code cannot be resold. Limit one gift per qualifying account. Limit one gift per individual.
The gift will be deposited 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.
Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.
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

To get the bonus, you need both the promo code and a targeted reservation number. Some people have had success getting a reservation number by chatting with KeyBank or – more likely – by calling into a branch. Let us know if you have success. Otherwise, it’ll only work for those targeted.

There are often non-targeted $200 or $300 offers for Key Bank, $400 is as good as it gets. The requirements are quite low, so if you can get it to work I’d jump on this offer.

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