- Qualifying accounts include Key Express Free Checking (this is the basic banking account in NY) and Key Advantage
- Direct deposit transactions are limited to: payroll, social security, pension and government benefits.
- Automated payments exclude Key Bill Pay, debit card automated payments, PayPal transactions and account to account balance transfers.
- Offer not available to individuals who have opened a KeyBank checking account in the last 12 months.
- The $100 value of the gift card will be reported on Form 1099-INT.
- If you close your account within 180 days of account opening, you will be charged a $25 account early closure fee.
You can apply at a KeyBank branch, Key.com or through 1-877-888-3658. However, based on the online application, it appears you have to live in a state where they have branches. This includes the following states: AK, CO, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, or WA.
In July 2007 and in July 2006 they've done iPod nano deals, so if you're looking for one of those, you may want to wait to see if they're going to continue this trend.
Some features of the Key Express Free Checking include:
- $50 Minimum opening deposit
- No monthly fees
- No minimum balance requirements
- ACH transfer capability
Some fees to be aware of include:
- $2 fee for using non-KeyBank ATMs
- $25 early closing fee if closed before 180 days
According to the customer service rep, they don't do a hard credit inquiry. They only use ChexSystem in the application approval process. This is based on my conversation with the CSR last year.
KeyBank has been FDIC insured since 1956.
Thanks to Kate who mentioned this promotion in the comments.
