I opened checking account at Keybank for $150 bonus over the phone on 3/22. On 3/24 $50 were withdrawn from my Chase account (I checked my account online.) On 3/25 received a letter from Key Fraud Dptmt dated 3/24 (2 days after opening), stating that my account was closed for having inappropriate activity. Called Key fraud dptmt and was told the account had been closed for having $0 balance and inactivity (!). Also, they said they did not withdraw the $50 and told me to call Chase. Chase representative says the money has been transferred to Key, and I believe him. What should I do?

Also, if Chase insists they have sent it, get something in writing, and not just the withdrawal from your account.
Meanwhile, if you don't get satisfaction -- that is, get your money -- you can file a complaint against KeyBank. The are KeyBank N.A., and the Ohio Department of Commerce says for a N.A. (National Association) you should file the complaint with the federal Office of the Comptroller of the Currency, at:
Office of the Comptroller of the Currency
Customer Assistance Group
1301 McKinney Street, Suite 3450
Houston, TX 77010
1-800-613-6743
www.occ.treas.gov
The Ohio complaint form is at:
http://www.com.state.oh.us/fiin/docs/fiin_NonDepositoryComplaintForm.pdf
I note, even if it turns out to be Chase delaying the transfer, and KeyBank now has it, you still can file the complaint over the delay -- and I would recommend that you do. Also, if it was a delay, you should demand full interest for the time they held your money, and demand that in your complaint. Demand it of KeyBank, too, if they actually did get the money but didn't post it. AND demand something from them as reparations for the anxiety and general trouble they have caused you -- although you might have to sue to actually get something like that, but demand it in the complaint anyway.