KeyBank Bonuses

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

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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 March 09, 2023
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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 Bonuses: March 2023

KeyBank : Key Smart Checking - $200

KeyBank

KeyBank
  • Bonus Amount: $200
  • Promotion Expiry: April 7, 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 ONAS0323. 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 $200 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 Advantage Checking - $200

KeyBank

KeyBank
  • Bonus Amount: $200
  • Promotion Expiry: April 7, 2023 
  • Qualifications: Direct Deposit
Sign Up Now
How to Get the Bonus 
  1. Open a Key Advantage Checking account online. You’ll need to make a minimum opening deposit of $10. 
  2. Redeem the offer code. To get the bonus, use offer code ONAS0323.
  3. Make a $500 direct deposit. You’ll need to make one direct deposit of $500 or more within your first 60 days of opening the account. 
  4. Receive your bonus. You’ll get the $200 KeyBank checking account promotion deposited into your account within 90 days of meeting requirements as long as your account is open and not overdrawn. 
Bonus Restrictions and Account Fees

KeyBank’s Key Advantage Checking account is an interest-bearing account. Your annual percentage yield (APY) will be variable, and rates vary by location. 

This checking account comes with a waivable monthly maintenance fee of $18. There are two ways to waive the fee: Have at least $10,000 in combined KeyBank account balances, or automatically deduct a payment of at least $500 toward a KeyBank mortgage. 

Advantage Checking account holders also receive 50% off the price of standard check orders.

KeyBank : Key Privilege Checking - $200

KeyBank

KeyBank
  • Bonus Amount: $200
  • Promotion Expiry: April 7, 2023
  • Qualifications: Direct Deposit
Sign Up Now
How to Get the Bonus
  1. Open your account. A minimum opening deposit of $10 is required. 
  2. Redeem the offer code. To get the bonus, use offer code ONAS0323.
  3. Make a $500 direct deposit. Make a direct deposit of at least $500 within your first 60 days. 
  4. Get your bonus. KeyBank will deposit your $200 gift into your account within 90 days of meeting requirements as long as your account is open and doesn’t have any overdrafts. 
Bonus Restrictions and Account Fees

The Key Privilege Checking account is an interest-bearing account with a variable APY; you must open the account online to receive the bonus. The account has a $25 monthly maintenance fee that can be waived if you: 

  • Have at least $25,000 in combined KeyBank account balances, or 
  • Auto-deduct at least $500 toward a KeyBank mortgage 

The Key Privilege Checking account comes with free standard checkbook orders. Your account is also eligible for daily sweeps, which automatically add funds from your checking account to an interest-bearing KeyBank deposit account. 

KeyBank : Key Privilege Select Checking - $200

KeyBank

KeyBank
  • Bonus Amount: $200
  • Promotion Expiry: April 7, 2023
  • Qualifications: Direct Deposit 
Sign Up Now
How to Get the Bonus 
  1. Open a Key Privilege Select Checking account. The required minimum opening deposit is $10. 
  2. Redeem the offer code. To get the bonus, use offer code ONAS0323.
  3. Make a $500 direct deposit. You are required to make a direct deposit of $500 or more within your first 60 days of opening the account.
  4. Receive your bonus. KeyBank will deposit the $200 bonus into your account within 90 days of meeting the guidelines. 
Bonus Restrictions and Account Fees

The Key Privilege Select Checking account is KeyBank’s highest-tier checking account. It comes with premium financial management services for banking and investing, as well as free checks and automatic daily sweeps to an interest-bearing savings account.

You’ll need a combined KeyBank account balance of $100,000 to waive the $50 monthly maintenance fee. You must open this account online to receive the bonus.

Compare KeyBank Promotions

Promotion Bonus Amount  Promotion Expiry  Qualifications 
Key Smart Checking $200 April 7, 2023 Direct Deposit
Key Advantage Checking  $200  April 7, 2023 Direct Deposit 
Key Privilege Checking  $200  April 7, 2023 Direct Deposit 
Key Privilege Select Checking  $200  April 7, 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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