[Expired] [MI, AK, OH, ID, IN, ME, UT, VT] KeyBank $300 Checking Bonus

This deal has now expired and is no longer available. Click here to view the best current checking bonuses or here for the latest KeyBank promotions.

Notes:

• Some reports of them being sensitive to too many ChexSystems inquiries
• You’ll receive a code like this: EDGT0717-000001406 (EDGT0717 is your promo code and the second string of numbers is your reservation code). I think this is no longer required for online openings.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Only residents of Michigan, Alaska, Cincinnati OH, Columbus OH, Dayton OH, Idaho , Indiana (Central and Northern), Maine, Toledo OH, Utah and Vermont
• Direct deposit required: Yes, $500+ required
• Additional requirements: Use promotional code
• Hard/soft pull: Soft pull
• ChexSystems: Mixed DP, most likely does
• Credit card funding: Up to $100
• Monthly fees: $7 avoidable
• Early account termination fee: $25, 180 days
• Household limit: None
• Expiration date: December 29th, 2017

The Offer

Direct link to offer

• Open a qualifying KeyBank checking account and receive a bonus of $300 when you complete the following requirements:
  • Use the promotional code EDGT0717
  • Make one direct deposit of $500 or more within 60 days of account opening

The Fine Print

• Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free account in the last 12 months.
• Only residents of Michigan, Alaska, Cincinnati OH, Columbus OH, Dayton OH, Idaho , Indiana (Central and Northern), Maine, Toledo OH, Utah and Vermont are eligible for this offer are eligible for this offer.
• Receive $300 when you open a Key Express (this is the basic banking account in New York), Key Advantage®, Key Privilege® or Key Privilege Select Checking® Account between 7/17/17 and 12/29/2017 and make one direct deposit of $500 at the minimum within 60 days after account opening.
• Direct deposit transactions are limited to payroll, Social Security, pension and government benefits.
• Limit one gift per qualifying account. Limit one gift per individual.
• The value of your gift will be reported on Form 1099-INT.
• Your gift will be 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.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Key Express checking account is easiest to keep fee free

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

They have offered bonuses of $300 in the past for the hassle free checking account, so this deal is slightly worse but those are rare and I don’t anticipate them coming back in the near future. If you live in the target area I do think it’s worth opening as it’s one of the larger bonuses out there and it isn’t too difficult to complete the requirements or keep the account fee free. It’s a shame that they seem to be ChexSystems sensitive though. I will be adding this to our list of the best checking sign up promotions.

There is also another deal for those in Seattle, South Puget Sound, Oregon, Denver, Cleveland, Akron-Canton, Pittsburgh, Buffalo, Connecticut (New Haven/Hartford) but that deal is even worse as  Key Advantage Checking account is required and that is more difficult to keep fee free.

Big thanks to reader, @NotESW 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