KeyBank is offering a $200 Checking Bonus promotion with direct deposit when you open a Key Express Checking account (or others, see below) online using offer code ONAS1015. You need to make at least $500 in cumulative direct deposits within 60 days after account opening to qualify for the $200 bonus offer. You must open the account by 01/01/2016.
There is a limit of one gift per individual & per qualifying account. The gift will be deposited within 90 days of meeting requirements and it will be reported on Form 1099-INT as usual.
ACH from Capital One 360 will usually fulfill the direct deposit requirement. My Capital One 360 transfer showed up as a direct deposit a few months ago.
However there’s been reports where ACHs have showed up as internet transfers. So make sure to stay on top of it and even do more than one ACH from different banks if you can. Direct Depositing your paycheck will be the only sure thing. You can also fund the account with a credit card, up to $100.
Don’t check the checkbox for Relationship Rewards membership to avoid the $40 fee.
Offer is available to new bank clients who have not had any type of account with KeyBank within the last 12 months. The offer is valid only in states that have Key Bank branches. Check the details below.
Qualifying Checking Accounts
- Key Express (this is the basic banking account in New York) [Best Option]
- Key Advantage
- Key Privilege
- Key Privilege Select
- Apply Now (for NYC enter an out of city zip code first then change it later when entering your address)
- Account Type: Key Express
- Offer Code: ONAS1015
- Availability: AK, CO, CT, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, & WA.
- Expiration Date: 01/01/2016
- Hard Inquiry: Soft pull.
- Opening Deposit Credit Card Funding: Yes, up to $100 in funding.
- Direct Deposit Requirement: $500 or more within 60 days
- Monthly Fee: $7 ( waived with $500 in deposits or eight transactions per statement cycle)
- Closing Account Fee: $25 if you close account within 180 days
You can also receive a $50 bonus for every referral. To receive your reward simply find your coupon offer on the left of the page after you sign into your account. Click on “Share the Wealth” and provide the coupon to your friend. Make sure they have their coupon with them when they open their new KeyBank account either online or at any local branch. However, as reader Sarah noted by email, if you use your referral, the person you refer will only get $100 bonus for the same requirements.
KeyBank will deposit your reward in your selected account after your friend’s account is opened and they meet all requirements. If you receive gifts totaling $600 or more, the value of your gifts will be reported on Form 1099-MISC.