Update 5/12/2011: KeyBank has come out with a new iPod touch promotion (8GB 4th generation) that's scheduled to last until 6/24/2011. Please refer to this iPod touch bonus post for more details.
KeyBank has a new checking account promotion in which you can earn a free iPod touch. This is similar to the Garmin promo they offered last year. Here's a summary of the requirements of this new promo:
- Open a Key Express Free Checking Account by 6/30/10, and
- Make one KeyBank Rewards debit card transaction, and
- A combination of two direct deposits and/or automated payments each of $100 or more by 10/01/10
One important thing to note is that you must have or request a KeyBank Rewards debit card and enroll in the KeyBank Rewards points program. There is a $20 annual fee for the KeyBank Rewards Program that will be waived for the first year. Below are some additional important points from the small print:
Qualifying debit card transactions include signature, PayPass, and PIN-based purchases only. 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. Limit one iPod touch per qualifying account. Limit one iPod touch per individual. The value of the iPod touch will be reported on Form 1099-INT. You will receive your iPod touch within 90 days of meeting requirements. Offer available to individuals without an existing checking account at KeyBank as of 4/30/10. Employees of KeyBank, its affiliates, and subsidiaries are not eligible for this offer. If you close your account within 180 days of account opening, you will be charged a $25 account early closure fee.
Credit for this find goes to FW member Neidman who posted it on this FW thread.
One thing not mentioned at the promo page is the version of the iPod Touch. The 8GB version is currently selling at Newegg.com for $189. KeyBank would likely give it a higher value on the 1099-INT.
Like previous KeyBank promos, it appears to be only available in areas where they have branches. Key has branches in the following states: Alaska, Colorado, Connecticut, Idaho, Indiana, Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont, and Washington.
Some FW members have reported problems with the online application. It looks like you'll have better luck by applying by phone.
KeyBank has been FDIC member since 1956
Other Bank Bonuses
To find other bonus deals at other banks, please refer to my bank bonus page which has all of my recent bank bonus posts.