[Expired] [Select Areas In WA, OH, PA, NY, CT] KeyBank $300 Checking Bonus

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Offer at a glance

The Offer

Direct links to offers: $300 | $200 | $100

  • KeyBank is offering a sign up bonus of $300 when you open a new Key Advantage, Key Privilege or Key Privilege Select Checking Account checking account with offer code OASP0218 and complete the following requirements:
    • Receive a direct deposit of $1,000 or more within 60 days of account opening
    • Receive a combination of five debit card and/or bill payments within 60 days of account opening
  • KeyBank is offering a sign up bonus of $200 when you open a new KeyBank Express checking account with offer code OAPE0218 and complete the following requirements:
    • Receive a direct deposit of $500 or more within 60 days of account opening
    • Receive a combination of five debit card and/or bill payments within 60 days of account opening
  • KeyBank is offering a sign up bonus of $100 when you open a new KeyBank Hassle Free checking account with offer code OASH0218 and complete the following requirements:
    • Receive a direct deposit of 300 or more within 60 days of account opening
    • Receive a combination of five debit card and/or bill payments within 60 days of account opening

The Fine Print

  • Offer available in certain branches in the following markets: Seattle, WA, Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Albany, NY, Hartford, CT and New Haven, CT.
  • Offer is available to clients who do not have or haven’t had a KeyBank Hassle-Free Account® or a KeyBank checking account during the past 12 months.
  • Receive $100 when you open a KeyBank Hassle-Free Account between 02/23/2018 and 06/01/2018 and make a single recurring direct deposit of $300 or more within 60 days after account opening.
  • Receive $200 when you open a Key Express Checking® Account (this is the basic banking account in New York) between 02/23/2018 and 06/01/2018 and make a single recurring direct deposit of $500 or more within 60 days after account opening.
  • Receive $300 when you open a Key Advantage®, Key Privilege® or Key Privilege Select Checking® Account between 02/23/2018 and 06/01/2018 and make a single recurring direct deposit of $1,000 or more within 60 days after account opening.
  • Direct deposit transactions are limited to payroll, Social Security, pension and government benefits.
  • Coupon/code required to qualify.
  • Coupon/code cannot be sold.
  • Key is not responsible for and will not honor promotional offers that appear on third party websites that are not authorized by KeyBank.
  • 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.
  • Accounts overdrawn or closed at the time of gift fulfillment are not eligible for this offer.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Key Advantage Checking Account $18 Monthly Fee ($300 Bonus)

The monthly fee on this account is waived if you do either of the following each statement cycle:

  • The combined balance in any combination of KeyBank checking and savings deposit accounts, certificates of deposit, retirement deposits, investment account* (including annuity balances reflected on your KIS account statement) and credit accounts was $10,000.00 or more.
  • You have a mortgage originated through KeyBank and you have an automatic payment deduction plan via ACH deducting $500.00 or more from your Key Advantage Money Market Checking Account during a statement cycle. If your mortgage automatic payment deduction plan should be discontinued, you may be subject to the combined balance requirements to avoid the monthly Maintenance Service Charge.
  • You are a Key@Work program member and you have direct deposits totaling $1000.00 or more credited to your Key Advantage Money Market Checking Account during a statement cycle. If you should leave your current employer and direct deposits have been discontinued, you may be subject to the combined balance requirement to avoid the monthly Maintenance Service Charge until direct deposits are reinstated by your new employer.

Key Express Checking $7 Monthly Fee ($200 Bonus)

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)

KeyBank Hassle-Free Account No Monthly Fee ($100 Bonus)

This account has no monthly fee to worry about

KeyBank Relationship Rewards Membership Fee $30

This is optional so make sure you opt out of it.

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 better bonuses in the past (e.g $300 for opening Key Express account) unfortunately we don’t really see those offers anymore and this seems to be the new standard offer. Because of that I would recommend doing this bonus as it’s doubtful better bonuses will come along. It’s a little annoying how restricted this bonus is, but such is life. As mentioned I will add this to our best checking bonus page.

Big thanks to reader, TimF who let us know. Learn how to find bonuses and contribute to the site here.

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View Comments (30)

  • I was unable to downgrade to a no-hassle checking account. Apparently you cannot downgrade to a non-check writing account from a check writing account. I was able to downgrade from Key advantage to key express.

      • I downgraded from Advantage Checking to Express Checking over the phone. I requested a downgrade via secure message, but no luck.

  • Wife was unable to open online and visiting a branch in Pittsburgh today. Was told this is an online only offer.

    • I was also told it's online only after already applying in branch even though the link doesn't say that anywhere

  • this is now valid online only, for residents of the select areas above. in-branch offer expired 4/6/18, at least in the albany area (verified by visiting 2 locations).

  • In my area the monthly fee for the Key Privilege Checking account is waived for the first 3 months. Previously this was enough time for me to get the bonus and then downgrade the account.

    Double check for your zip by clicking on Rates & Fees.

    Doc may be worth putting this note in the post

  • Offer available *in certain branches* in the following markets: Seattle, WA, Cleveland, OH, Akron/Canton, OH, Pittsburgh, PA, Albany, NY, Hartford, CT and New Haven, CT.

    Coupon/code required to qualify.
    Key is not responsible for and will not honor promotional offers that appear on third party websites that are not authorized by KeyBank.

    Is it targeted if opened in-branch? What should I tell the branch employee if I wanted to use one of the offer codes?

    • I had a targeted mailer (for $200, offer code NMVE0318) here in Seattle as a backup and tried to get the $300 bonus in-branch. They were unable to open the account in-branch with the $300 bonus because it "didn't have a reservation code." Oh well, I used the targeted mailer and applied the

      I had the branch manager call the backoffice to explain the situation (and hopefully apply the $300 bonus) and they just returned my call this morning -- they can't open accounts with the OASP* offer codes in-branch as they are online only.

      Side-note: attempting to fund $100 in-branch with my WF biz plat coded as a cash advance and did not revert. It seems like (at least in Seattle) going in-branch is a mistake -- stick to opening the account online for this bonus.

  • Why not do the $350 bonus and eat the $25 early closing fee? Still Much more than a $200 bonus that you can keep fee free.

  • If you failed to receive the bonus the last time around, can you qualify for the bonus by creating a new account? It says "Limit one gift per qualifying account. Limit one gift per individual."

    • Offer is available to clients who do not have or haven't had a KeyBank Hassle-Free Account® or a KeyBank checking account during the past 12 months.