KeyBank has another checking promotion in which you can earn $150. It's very similar to the $150 bonus that it was offering last year. Like before it's an online-only offer, but the online application only accepts certain areas which appear to be in their market area (see below).
Here's the KeyBank promotions page. The offer is scheduled to last until September 28, 2012. Like last year, it requires quite a bit of work:
- open a qualifying KeyBank checking account online and enter offer code ONFT0912 by September 28, 2012, and
- make at least 30 payments and/or purchases within 3 months of account opening, plus
- make 3 direct deposits each of $500 or more within 3 months of account opening
KeyBank is also advertising a promotion that requires 60 payments instead of 30. I'm not sure if there's any benefit of this promotion, but in case the other disappears, here's the promo link. Note, the offer code is slightly different.
If you click on the "Compare All Checking Accounts" link in the promo page, you can compare the qualifying checking accounts. All have potential monthly service charges. You can avoid monthly fees on the Key Express Checking by making at least $500 in deposits or initiating five transactions per statement cycle.
Below is the offer's small print:
Between 9/1/2012 and 9/28/12, you must open a Key Express (this is the basic banking account in NY), Key Coverage, Key Advantage, Key Privilege, or Key Privilege Select Checking Account online and make at least 30 posted payments and/or purchases from the new checking account within three months of account opening, plus within three months of account opening make a total of three direct deposits each of $500 or more to get your gift. One month is calculated as 31 calendar days from account opening date (three months equals 93 calendar days from account opening date). 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 within 90 days of meeting requirements. Qualifying purchase and payment transactions include checks, MasterCard signature, PayPass® and PIN-based purchases, Key Bill Pay, debit card automated payments, PayPal® transactions, and Automated Clearing House (ACH) direct payments. Direct deposit transactions are limited to payroll, Social Security, pension, and government benefits. Offer available to individuals without an existing checking account at KeyBank as of 8/31/2012. Offer not available to individuals who have opened a KeyBank checking account in the last 12 months. 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. Accounts overdrawn or closed as of 1/11/2013 are not eligible for this offer. Accounts titled as Trust Accounts, Estate, Non-Individual, and No Access are excluded from eligibility. You must have a U.S. mailing address on 1/11/2013 to be eligible. Offer is subject to cancellation without notice and cannot be combined with any other offer. Other miscellaneous charges may apply.
There are some additional details in the promotion's FAQs.
A reader commented last year that the application didn't ask for the offer code. He assumed it had been added automatically. It turned out that it was not added, and he reported being told that "there was nothing they could do." If there's an uncertainty, you might want to call KeyBank.
When you apply online, you have to enter your zip code. Not all zip codes are accepted. Like previous KeyBank promos, it appears to be only available in areas where they have branches. KeyBank branches are located in the following states: Alaska, Colorado, Connecticut, Idaho, Indiana, Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont, and Washington.
I'm currently seeing an error when I enter a zip code in their market area. Hopefully, this will soon be corrected.
KeyBank is a large bank with $83.97 billion in assets. It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 8.48% (above average) based on June 2012 data. Please refer to our financial overview of KeyBank for more details. The bank has been a FDIC member since 1956 (FDIC Certificate # 17534).
Other Bank Bonuses
We have a bank promotions page with a table of all of the active bank and credit union promotions. You can filter the table based on the type of promotion and based on your state. I have more details about how to use this page in this blog post.