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Another $150 Checking Account Bonus at KeyBank in Certain States Only


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.

Online Application

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.

You can view my latest bank bonus blog posts in this bank bonus page. I and DepositAccounts.com readers often post on bonuses in the checking account deals forum.

Related Pages: KeyBank, checking account

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Anonymous   |     |   Comment #1
They did not pay me the last year bonus.
Reason given was that they did not receive the 3 direct deposits on time.
The payment came on Friday, but they did not credit it until Monday and the statement period ended on Saturday.
Complaining did not lead to anything, so I closed the account after 6 months and DO NOT intend to open again with them.
Anonymous   |     |   Comment #3
AK, CO, CT, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, or WA.
Anonymous   |     |   Comment #4
The $150 promotion is gogoing....at least up to the end of Nov 2012.  Signing up on line was smooth and uneventful.....and funding was enabled via ACH.  It's only after signing up does one really realize how terrible...not bad...but terrible Keybank is.  What's interesting is that when you talk to Keybanks CSRs....they are fully aware of it and are proud of it.  Specifically.....1.  Even though  the initial  ACH account funds are removed from your external account they do not show up  in your Keyaccount for 5 to 7 business days.  2.  The welcoming package informing you of your account number and routing number  takes 10 buinsess days to receive. 3. Although setting up links to external banks accounts is easy, the verification process takes 10 business days.  4.  Funds transfered from external accounts via links you have set up to your Keybank account are not available for 4 business days after they have been receivedat Key 5.If you order a Debit card via the on line application you need to check.....mine was never ordered....and it will take 7-10 business to receive.  6. Be careful....Key offers and sometimes requires you to have a rewards card that can cost $40/yr.  The list goes on......My conclusion.....avoid Keybank at all cost.  They are simply the worst financial instituion I've encountered...bar none....with simply terrible customer service....with a terrible funds availability policy. Key's facebook page is ful of complaints.  Will I ever receive the bonus.....I think so ...but the pain.   One last item....direct deposit is required for this promotion....be careful of the timing.  Key allows 93 days from account opening to receive your 3 direct deposits so if you get paid once a month...you need to be keenly aware of the timing......and remember you don't get the account numbers for 10 days.  Also any transactions you make to meet the promotion guideless is based on when the transition is posted not made and Key informes you that posting may take several business days(upwards to 5 I think).  If all this is acceptable to you ....its a grand opportunity
mpbraun123   |     |   Comment #5
they offered a $150 bonus for a new account and instead they took out of me $9 a month and didn't gave me the $150 prommised, and when I asked to close my account they said "you will have to pay a early termination fee of $50"
Anonymous   |     |   Comment #6
I signed up for this early Jan but they did not activate my account until early Feb as they kept stating that they want to verify based on PATRIOT ACT even though I gave everything. By far this is the WORST bank to deal with from every angle.  They did not pay me the $150.00 despite my efforts to meet the requirements.  They kept locking my account for all unknown reasons.  Deposits were held despite local checks.  All kinds of issues. I would stay away and I am closing the account once the 6 months is up as there is a fee.  I drove to 8 different branches multiple times to get all the paper work even though I opened the account online and I probably spent more on gas than the $150.00.