KeyBank, $5,000 Bonus For New Business Relationship

KeyBank is offering a huge $5,000 bonus for new customers. You need to open checking ans savings accounts, a credit card and a Key Merchant Services account.

keybank 5000 bonus

Bonus Requirements

To receive the $5,000 bonus you need to complete all of the following requirements:

  • Open your company’s primary operating account with us via a Key Business Rewards Checking Account or a Commercial Transaction Account
  • Open a Key Business Gold Money Market Savings or Key Business Silver Money Market Savings account
  • Open a card program that best suits the needs of your business – Key2business, key2purchase, Key Business Rewards or Key Business Credit Card
  • Open a Key Merchant Services account and within three months of the account being activated process $50,000 or more through your KeyBank Business Reward Checking account or Commercial Transaction account.

See the offer at DoC’s post here.

Eligibility

You need to go into a branch to open the accounts, so you need to have a branch nearby.

Fees

The Key Business Rewards Checking Account will require a $7,500 balance to avoid the $25 monthly fee. Even paying that for few months is still not an issue for a $5,000 bonus. The savings account and the credit card have no fee.

The main issue is the Key Merchant Services where you need to process $50,000 in business transactions, and I do not know what fees are involved in that.

Guru’s Wrap-Up

The first three requirements are pretty easy when talking about a $5,000 bonus. However the Key Merchant Services account and the $50,000 or more you need to process will likely be the main issue. I’m not sure how this account works, so if you go for this bonus or if you have any information, please let me know. They have some more bonus offers for checking accounts only.

If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

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