Dedicated to Deposits: Deals, Data, and Discussion

$100 Checking Account Promotion at KeyBank - Update

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KeyBank
KeyBank has a new checking account promotion in which you can receive a $100 MarsterCard gift card when you open a checking account and make one debit card transaction plus a combination of two direct deposits OR automated payments each of $100 or more. The offer ends November 7, 2008.

Here's some of the important small print. Please refer to the promotion page for the official details.
  • Offer valid for accounts opened in Washington, Oregon, Ohio, Indiana, Michigan and Kentucky
  • 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 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.
It appears you can apply online or through 1-877-888-0474. The Key Express Free Checking qualifies for this promotion. The last KeyBank checking promotion that I reported on was an iPod nano promotion in July. A reader commented that he received the iPod nano as promised.

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 the reader who mentioned this promotion in the finding deals post.
  Tags: KeyBank, Indiana, Washington, Oregon, Michigan, Kentucky, Ohio, checking account

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