KeyBank Bonuses

You could earn hundreds of dollars by opening a new KeyBank account

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Rebecca Safier
Rebecca Safier
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Rebecca has been writing about personal finance for more than seven years. Her work has been published in MarketWatch, U.S. News & World Report, and other publications, and she has contributed expert commentary to Fortune, Money, NBC, and more. 
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Updated May 25, 2023
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Maddy Simpson
Maddy Simpson
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Maddy Simpson is an experienced data journalist and fact-checker with a background in financial analytics.
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Based in Cleveland, Ohio, KeyBank is a regional bank that operates in 16 states. It offers an array of financial services and products, including checking and savings accounts that often feature valuable promotions. Learn how opening a new account could earn you hundreds in KeyBank bonuses.

KeyBank : Key Smart Checking - $200 [EXPIRED]

KeyBank

KeyBank
  • Bonus Amount: $200
  • Promotion Expiry: May 20, 2023
  • Qualifications: Direct deposit 
Sign Up Now
How to Get the Bonus 
  1. Open a checking account online. Open a Key Smart Checking account with a minimum opening deposit of $10.
  2. Use the offer code. To get the bonus, use offer code ONAS0423. This offer is only redeemable online. 
  3. Make a $500 direct deposit. To get the bonus, you’ll need to make one direct deposit of at least $500 within the first 60 days of opening the account. 
  4. Wait for your bonus. KeyBank will deposit the bonus into your account within 90 days of meeting the requirements.

To qualify for the $200 bonus, your checking account must be open and can’t have any overdrafts. 

Bonus Restrictions and Account Fees

If you close your account within 180 days of opening, you’ll be charged an early closure fee of $25. 

The Key Smart Checking account has no monthly fees or minimum balance requirement. Unlike KeyBank’s other checking accounts, however, it doesn’t earn any interest. 

KeyBank : Key Select Checking - $100 [EXPIRED]

KeyBank

KeyBank
  • Bonus Amount: $100
  • Promotion Expiry: May 20, 2023
  • Qualifications: Direct deposit
Sign Up Now
How to Get the Bonus 
  1. Open a Key Select Checking account. The required minimum opening deposit is $50. 
  2. Redeem the offer code. To get the bonus, use offer code ONAS0423.
  3. Make $60,000 in direct deposits throughout the evaluation period. You are required to make direct deposits totaling $60,000 or more within your first 60 days of opening the account.
  4. Make one direct deposit within the final 60 days of the evaluation period.
  5. Receive your bonus. KeyBank will deposit the bonus into your account within 90 days of meeting the guidelines.
Bonus Restrictions and Account Fees

The Key Select Checking account is an interest-bearing account; it provides fee-free access to in-network ATMs (KeyBank and Allpoint ATMs), with a $6-per-month fee rebate for out-of-network ATM transactions.

You’ll need a combined KeyBank account balance of $15,000 or monthly direct deposits of $5,000 to waive the $25 monthly maintenance fee. 

Compare KeyBank Promotions

Promotion Bonus Amount  Promotion Expiry  Qualifications 
Key Smart Checking $200 May 20, 2023 Direct deposit
Key Select Checking  $100 May 20, 2023 Direct deposit 

Frequently Asked Questions

  • Are KeyBank Accounts Available Nationally?

    KeyBank accounts are not available nationally. They are available in 16 states: 

    • Alaska
    • Colorado
    • Connecticut
    • Florida
    • Idaho
    • Indiana
    • Maine
    • Massachusetts
    • Michigan
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Utah
    • Vermont
    • Washington

  • Is KeyBank a Good Bank?

    KeyBank may be a good fit if you live in one of the 16 states in which it operates, due to its 24/7 customer service and more than 1,000 branches and 40,000 ATMs. However, you might find better interest rates on savings accounts at other institutions. 

  • How Much Do I Need to Open a KeyBank Account?

    KeyBank typically requires a minimum deposit of $10 to open an account, but the requirements will vary by bank account type. Its Key Smart Checking and Key Active Saver accounts each require a deposit of $10, for example. If you want to open a Key Select Money Market Savings account, you’ll need to make a minimum opening deposit of $5,000.

  • Will I Have to Pay Taxes on a KeyBank Promotional Bonus?

    Your KeyBank promotional bonus may be taxable. The bank will report your bonus, as well as any interest you’ve earned over $10, and you will likely be sent an IRS Form 1099-INT. You may or may not owe taxes on the bonus amount, depending on the deductions or other tax breaks you qualify for.

Compare your options from multiple banks to find an account that best meets your needs; see the best checking accounts or best savings accounts for our top picks.

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  4. KeyBank. "Open Checking Account Online."

  5. KeyBank. "Skip the Bank Line." 

  6. KeyBank. "We're Here to Help." 

  7. KeyBank. "Compare Checking Accounts." 

  8. KeyBank. "Key Active Saver."

  9. KeyBank. "Key Select Money Market Savings Account."

  10. First Republic. "Taxes on Savings Accounts: What to Know."