Update 7/23/19: Deal is back, just remember that this requires the offer code as well as the promotional code. You won’t have this unless you were targeted. Now marking this as targeted. Hat tip to DDG
Offer at a glance:
- Maximum bonus amount:Â $400
- Availability:Â 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:Â None
- Hard/soft pull:Â Soft
- Credit card funding:Â Up to $100
- Monthly fees: $0 – $18, waive-able
- Early account termination fee:Â $25 if closed within 180 days of opening
- Expiration date:
October 26th, 2018August 23rd, 2019
Contents
The Offer
Direct link to offer (says they won’t honor offers found on third party sites. I’d recommend copy and pasting into a new browser rather than clicking the link)
- Open a qualifying KeyBank checking account with the promotional code RETK0918Â 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. Normally you need a reservation code as well as the promo code, I went through some of the app and no reservation code was needed.
The Fine Print
- You must open a Key Express Checking® Account (this is the basic banking account in NY), Key Advantage® Checking Account, Key Privilege® Checking Account, or Key Privilege Select Checking® Account by the expiration date and make ONE single KeyBank direct deposit of $500 or more within 60 days after account opening to get $400.
- Normal account service charges and balance requirements apply to these accounts.
- Direct deposit transactions are limited to: payroll, Social Security, pension and government benefits. Accounts titled as Trust Accounts, Estate, and No Access are excluded from eligibility. Employees of KeyBank, its affiliates and subsidiaries are not eligible for this offer.
- Offer/Reservation number cannot be sold and is required to qualify.
- Limit one gift per qualifying account.
- Limit one gift per individual.
- The value of your gift will be reported on Form 1099-INT and 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. Other miscellaneous charges may apply.
- Offer not available to individuals who have had a KeyBank checking account or a KeyBank Hassle-Free Account® in the last 12 months.
- Accounts overdrawn or closed at the time of gift payment are not eligible.
- Offer is subject to cancellation without notice and cannot be combined with any other offer.
- KeyBank is not responsible for and will not honor promotional offers that appear on third-party websites that are not authorized by KeyBank.
- 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
This is as high as this particular bonus gets. Fingers crossed no reservation code is needed, I somewhat suspect it will be but previously it was required earlier in the application process so it’s possible it’s no longer required. If it turns out that it isn’t required then this will be going on our list of the best bank account bonuses.
Big thanks to reader, @akshayasok 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
- Bank Bonus Posting Times
$400 bonus deal is back with $500 DD within 60 days
New $500 promo with one direct deposit.
I rec’d a mailer stating open an account with 1 time deposit of 500 to get 400. I went in to the branch and had someone actually complete all the details as well. Now we are approaching the full 60 days and no deposit of said offer. Not sure what you can do, go in to the branch and demand the money?
Same here.
Just make sure you get a direct deposit from an outside source, not a deposit you make yourself. I lost out on the offer because I didn’t decipher the verbage correctly.
I got this offer in mail today. It’s almost like money double in 60 days!!
Is there any downside to doing this and then closing the account after 180 days? What’s the catch?
9/12: Received mailer with code and reservation number. Opened and funded $50 w/ debit card.
9/18: Push from Ally (ACH, Ally Bank P2P) $500.25
9/28: Gift from Key Bank for Recent Offer $400
Hi all. I’m still waiting out my 6 months on this account, getting very close, and seem to have received a targeted savings offer via email.
$25 bonus for a minimum $10 savings deposit, pays after 90 days, $25 ETF for 6 mos.
Email language:
To qualify for the $25 cash bonus, open a new Key Active Saver with at least $10 and open or maintain a KeyBank checking account*. Once requirements are met, the cash bonus will be deposited into your account within 90 days as long as your account is not overdrawn or closed at the time of fulfillment.
To get your $25 gift, be sure to open your account by 10/09/2020, and use offer code XXXXXXX (alphanumeric)
The value of your gift will be reported on Form 1099-INT. Limit one gift per qualifying account. Limit one gift per individual. Offer not available to individuals who have an existing Key Active Saver. This offer is not transferable. Accounts overdrawn or closed at the time of gift fulfillment are not eligible. Employees of KeyBank, its affiliates, and subsidiaries are not eligible. Accounts titled as Minor/Custodian, Trust Accounts, Estates, Non-Individuals, and No Access are excluded from eligibility. Offer not available to businesses, institutional, and public entities. Offer is subject to cancellation without notice and cannot be combined with any other offer. KeyBank is not responsible for, and will not honor, promotional offers that appear on non-KeyBank websites or that are not authorized by KeyBank. Offer code and reservation number are required to qualify for this offer.
*Waive the $4 monthly Maintenance Service Charge if you are an owner on a KeyBank consumer checking account, which includes: Key Smart CheckingSM, Key Student Checking®, KeyBank Hassle-Free Account®, Key Express Checking®, Key Advantage Checking®, Key Privilege Checking®, Key Privilege Select Checking®, Key Choice Checking, Key Value Checking, Key Private Bank Personal Checking, Key Private Bank Checking, Key Private Bank Sweep Checking.
Subject to the terms of the Savings Overdraft Protection Agreement.
If you close your account within 180 days after opening you will be charged a $25 early close-out fee.
Have fun, happy bonus hunting!!
Received a (targeted) mailer under my dad’s name for $400 if you make a single deposit of $1000 or more, signed up P2 for it as I just did the $200 non-targeted public bonus
How do I get targeted for these types of mailers?
I wish I knew, I would like to help P2 get targeted.