[Expired]KeyBank $300 Checking Promotion [AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, or WA only]

This offer has been extended with a new link and promo code. Thanks to Ashley for letting us know. There’s also a $400 Key Bank bonus (that one expires on July 22), but the $400 bonus is a bit more YMMV. The $300 offer has a space to request a coupon via email which ensures you get the offer.

Offer at a glance

  • Maximum bonus amount: $300
  • Availability: AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, or 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: Combination of five debit card purchases and or bill payments
  • Hard/soft pull: Soft
  • Credit card funding: Up to $100
  • Monthly fees: $7, waive-able
  • Early account termination fee: $25 if closed within 180 days of opening
  • Expiration date: May 13th, 2016 July 1st, 2016 8/5/16

The Offer

Direct link to offer

  • Open a qualifying KeyBank checking account with the promotional code EDGF0716 and receive a direct deposit of at least $500 or more within 60 days of account opening and receive a sign up bonus of $300.

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Offer is available to new bank clients who have not had any type of account with KeyBank within the last 12 months
  • Direct deposit transactions are limited to payroll, Social Security, pension and government benefits, although in the past other direct deposits have triggered this bonus.
  • Bonus will post within 90 days of meeting the requirements
  • Offer is subject to cancellation without notice and cannot be combined with any other offer.
  • Limit one gift per individual
  • Qualifying accounts are:  Key Express Checking® (this is the basic banking account in NY), Key Advantage®, Key Coverage Checking®, Key PrivilegeSM, Key Privilege Select CheckingSM

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

Our Verdict

Last year KeyBank offered a $300 bonus but allowed you to do it with their hassle free account (no monthly fees or minimums) twice (once in July and again in December). This deal is still pretty good, but a little harder to keep fee free – that being said it isn’t difficult to rack up 8 debit card transactions a month. You’d need to keep the account open for ~6 months to avoid the early account termination fee that’s 48 debit card transactions, if you bought $0.50 Amazon reloads it’d set you back $24 so you can almost think of this as a $276 and $24 Amazon credit sign up bonus (or use one of the other methods to hit the debit card requirement). What I like about KeyBank is that these bonuses can be churned every 18 months (remember it’s a 12 month wait since you last had an open account).

I’d either jump on this deal, or wait until it’s possible with the hassle free checking account again. We’ve added it to our list of the best bank bonuses.

 

Useful posts regarding bank bonuses:
    William Charles
  • On July 20, 2016, 16:04

View Comments (98)

  • My experience:

    I live in PA and after many months checking for the eligibility (offers where always for NY, Idaho, etc) I finally found one with a $300 bonus for a premier checking account. Used the debit card 5 times and a $1000 real direct deposit posted and a week later I got my bonus.
    Now, my question: since this is a premier checking account it carries an $18 month maintenance fee unless I deposit $5000, has anyone had success on downgrading to a free checking account after the bonus was received?

  • My bonus just hit. I just used my WF ach. Account opened 7/26, ach about 10 days later, bonus I check once a week and had been a bit worried but just arrived. Also I haven't done any transactions either, and the first monthly fee just hit the last week of Sept also.

  • 2 DPs:

    i have an acct for me and my fiance. did discover ach on 8/2 - and a real employer DD on 9/16. not sure which worked but i finally see the $300 bonus is pending for both accounts.

  • FYI - in addition to the Offer Code (available online) you also need a Reservation Code (sent via Direct Mail) to take advantage of the $300 bonus offer. Per the CSR at Key Bank's toll free #, if you don't have the Reservation Code from the mailer, the best they can do is a $200 bonus offer obtained by visiting https://www.key.com/personal/promotions/200-em.jsp and having them email you a Reservation Code. If anyone has found a way to still get the $300 bonus without the Reservation Code please share how.

  • I just got my $300 bonus yesterday. It showed up 36 days after my transfer from my Simple online bank account. So, Simple works.

  • I'll go ahead and leave my entire experience with KeyBank below and everyone can make of it what they will. It's important to note that I opened two accounts in family members' names (with their permission of course) so the transfers into these accounts were from accounts in my name and not the name's on the accounts.

    Both account bonuses posted the same day (on the 28th). One account had a deposit from CapitalOne 360 the prior month and the other account had a deposit from Ally and CapitalOne 360 the prior month. The Ally deposit was about a week before the CapitalOne deposit.

    I was starting to worry that none of them had worked so I began setting up deposits from other accounts. There were pending deposits from Chase and Barclays in one account and just from Barclays in the other on the day the bonuses showed up as pending.

    My feeling is that CapitalOne was the DD that triggered both bonuses and they just post them to all accounts the same day. Maybe the last Thursday of month or something; however I can't say for sure.

  • Ally ACH didn't work, but Paypal worked. The bonus showed up while the transaction was still pending.

  • Did the link. error code when trying to finish application. Chat>call in.
    CS accepted call in code from email and set up my account, 20 minutes, and couldn't accept the $100 on a credit card, nor $50 on a CC (need to correct). Funded with bank tx.

    Then I handed the phone to my wife to set up her account.

    About 1/2 hour + 1/2 hour to fulfil the requirements = $600/hr. Not bad for a retired married couple!

Leave a Comment