KeyBank Offers $300 Checking Account Bonus

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Availability: AK, CO, ID, IN, ME, MI, NY, OH, OR, UT, VT, and WA

Every few months, KeyBank comes out with a checking account bonus, and the latest offering is a $300 bonus which expires on January 1, 2016. While the $300 bonus has been offered before by KeyBank, this is the first time opening the fee-free Hassle-Free Account qualifies for the $300 bonus.

In July 2015, I wrote about a targeted $50 bonus KeyBank was offering to individuals who had taken advantage of an earlier Hassle-Free Account opening bonus. The gist of that blog post was that following that bonus promotion, there were a lot of inactive Hassle-Free Accounts just waiting to be closed after 180 days. The $50 bonus was an incentive to promote activity in those accounts. Long story somewhat short, if you do take advantage of this new iteration of the $300 bonus, keep an eye out for any email or snail-mail marketing in the following months.

Specific Requirements

  • Open a KeyBank Hassle-Free Account, Key Express Checking, Key Advantage, Key Coverage Checking, Key Privilege, or Key Privilege Select Checking Account online, in-branch, or by phone by January 1, 2016.
  • Use promo code EDGT1115.
  • Have one direct deposit of $500 or more within 60 days of account opening.

General Limitations

  • Offer is only available to new bank customers who have not had any type of account with KeyBank within the previous 12 months.
  • Bonus will be deposited into the account within 90 days of fulfilling the above requirements.
  • There is a $25 fee if the account is closed within 180 days of account opening.
  • Account must be open and in good standing when bonus is deposited.

Availability

Headquartered in Cleveland, Ohio, KeyBank is one of the nation’s largest retail banks, with 996 branches.

The $300 Checking account promotional bonus is available both online (using offer code EDGT1115), in-branch (using emailed coupon), or by phone for residents of Alaska, Colorado, Idaho, Indiana, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont, and Washington.

Bank Overview

KeyBank, (FDIC Certificate # 17534) has an overall health grade of "A" at DepositAccounts.com, with a Texas ratio of 4.63% (excellent) based on September 30, 2015 data. In the past year, KeyBank has increased its total deposits by $3.16 Billion, an excellent annual growth rate of 4.47%. Please refer to our financial overview of KeyBank for more details.

KeyBank was originally established in 1849 as the Society National Bank of Cleveland. 166 years of growth, (including 30 acquisitions and several name changes), has resulted in today’s KeyBank, one of the nation’s largest banks with assets in excess of $93 Billion.

Other Bank Promotions and Bonuses

Not eligible for KeyBank’s $300 checking bonus? Check out my latest bank and credit union bonus blog posts to find other promotions. In addition, DepositAccounts.com readers and I also post often on bonuses in the Bank Promotions Forum.

Comments
Anonymous
Anonymous   |     |   Comment #1
No Fed rate increase......The failure of a massive junk bond fund Friday....Fed now has an excuse not to raise. I knew it would be something.......You lose, savers.....Fed needs to save Wall St again.
Saver5
Saver5   |     |   Comment #2
Oh ye of little faith.
Anonymous
Anonymous   |     |   Comment #11
Can we "quote" you on that?
Anonymous
Anonymous   |     |   Comment #3
How is KeyBanks ACH transfer system? Any limits on number of linked accounts or daily/monthly transfer limits? Do they even offer ACH transfers? I'm looking for a new hub account...
carnholio
carnholio   |     |   Comment #4
The main drawback with their system is that it is so slow setting up external accounts. It takes about two weeks to set up the account: A couple of days for the test deposits, a few days later for for the withdrawal, and a couple more days later to be able to verify the account. Withdrawals from KeyBank are usually in the receiving account the next business day. I haven't used it to puii money in; there may be a 3-4 day hold. I'm not aware of any limits on either the amount or the number of accounts.
decades
decades   |     |   Comment #5
Have one direct deposit of $500 or more within 60 days of account opening. Does this mean direct Deposit of your payroll check ? Can you do an ACH to satisfy the requirement ?
decades
decades   |     |   Comment #6
Tried to apply online ....got...we don't offer accounts in your area,,,,
Anonymous
Anonymous   |     |   Comment #7
Looks like even the so called Hassle Free account has a $40 a year fee to be in their mandatory "Key bank relationship reward" program. What a bunch of crap that is.
Anonymous
Anonymous   |     |   Comment #8
My bad, I now see it says "optional participation". Still think I will steer clear of this bank after reading mostly poor reviews.
Anonymous
Anonymous   |     |   Comment #9
I opened a Hassle Free account earlier this year to qualify for the bonus ($200 at that time) and everything went painlessly.  As I recall I made an initial minimum $100 deposit to establish the account, the $500 direct deposit within 60 days (Key Bank told me a bank to bank ACH transfer wouldn't qualify, - that it must be an employment or SS payment), and received the bonus credit almost immediately after the 90 day period had elapsed (no request for it needed).  I did no activity in the account over the interim, withdrew the entire account balance as soon as the bonus was paid, and closed the account  shortly after six months since opening.  Easy as pie.
Anonymous
Anonymous   |     |   Comment #10
You still would net $260. Why are you crying??
Anonymous
Anonymous   |     |   Comment #13
reationship rewards is not mandatory.... it is a rewards program that you earn points on like a credit card with cash back
Anonymous
Anonymous   |     |   Comment #14
The promo in the Fall 2016 states that the Hassle-Free Account is NOT eligible for the $300 bonus.
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