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

Update: This new offer is much more restricted than normal, it’s only available in the following areas:  Only residents of Ann Arbor MI, 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

Note: Some reports of them being sensitive to too many ChexSystems inquiries.

Note: You’ll receive a code like this: EDGF0417-000001406 (EDGF0417 is your promo code and the second string of numbers is your reservation code)

Overview:

• Maximum bonus amount: $300
• Availability: MI, OH, AK, ID, IN, ME, UT, VT only
• Direct deposit required: Yes, one direct deposit 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: Use promo code
• Hard/soft pull: Soft
• Credit card funding: Up to $100
• Monthly fees: None – $18, waive-able
• Early account termination fee: $25 if closed within 180 days of opening
• Expiration date: October 7th, 2016 November 11th, 2016 December 8th, 2016 January 13th, 2017 April 21st, 2017 June 30th, 2017

The Offer

Direct link to offer

• Receive a sign up bonus of $300 when you open a qualifying KeyBank checking account with the promotional code “EDGF0417” and complete the following requirements:
  • Receive a qualifying direct deposit of at least $500 within 60 days of account opening

 

The Fine Print

• Offer is available to new bank clients who have not had any type of account with KeyBank within the last 12 months (this includes credit cards and any cards that have been transferred to KeyBank. Thanks to reader Dave B)
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
• Qualifying accounts are: Key Express (this is the basic banking account in New York), Key Advantage^®, Key Privilege^® or Key Privilege Select Checking
• Direct deposit transactions are limited to payroll, Social Security, pension and government benefits
• Limit one gift per qualifying account. Limit one gift per individual
• 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

Our Verdict

You’ll need to get them to e-mail you a coupon (option on the offer page) to complete this bonus. KeyBank offers a lot of bank account bonuses, sometimes they are targeted and other times they are open like this. The best offers they usually are as follows:

• $400 bonus with these requirements
• $300 bonus with the hassle free checking account

It’s a bit YMMV if they will offer a better public bonus than this in your area again so this can be a pretty strong offer.  I still think it’s worth doing if you don’t mind dealing with trying to keep the account fee free. You can view it as part of our list of the best bank offers.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• 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