About Ken Tumin

Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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iPod touch KeyBank Checking Account Promotion - Certain States Only


KeyBank is again offering an iPod touch as part of a checking account promotion. One thing that has changed since the last one is that you have to make twice the number of payments and/or purchases. So if you want the free iPod touch, it will require some work. 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 new KeyBank promotions page. The offer is scheduled to last until July 22, 2011. The following are the requirements to qualify for the iPod touch:

  • open a qualifying KeyBank checking account online and enter offer code ONTS0711 by July 22, 2011
  • make at least 20 payments and/or purchases per month for 3 months after account opening
  • make 3 direct deposits each of $500 or more within 3 months of account opening

The comparison chart tab in the promotions page shows 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 some of the important small print:

The value of your gift will be reported on Form 1099-INT. Your gift will be shipped 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 7/8/11. 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.

There are some additional details in the promotion's FAQs. In May it was mentioned that the iPod touch in the promotion is the 8GB 4th generation version with a $205 value that will appear on the 1099. It's currently selling on Amazon for $209.98.

Credit for this find goes to FW member kristenklein who posted it on this FW thread.

KeyBank Locations

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.

KeyBank is a large bank with $86.75 billion in assets. It has an overall health score at DepositAccounts.com of 4 stars (out of 5) with a Texas Ratio of 10.97% (above average) based on March 2011 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

To find promotions at other banks, please refer to the bank bonus page which has all of my recent bank bonus blog posts. There are also additional bonuses listed in the checking account deals forum and in the credit card deals forum.

Related Pages: KeyBank, checking account

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