Many banks offer a checking account bonus, and KeyBank is no exception. It has two different checking account bonuses, and a money market account rate bonus. See how to earn cash and rate bonuses with KeyBank — just read the terms carefully to make sure you can get the bonus cash.
However, KeyBank only operates in 15 states, and the offers below are online offers that require an offer code.
| Bonus type | Bonus amount | Requirements |
|---|---|---|
| Key Smart Checking | $300 | Use offer code KDMA0526 to open your account, and make a $10 minimum opening deposit. Then, make a total of at least $2,000 in direct deposits within 90 days of account opening. Expires December 11, 2026 |
| Key Select Checking | $500 | Use offer code KDMA0526 to open your account, and make a $50 minimum opening deposit. Then, make a total of at least $5,000 in direct deposits within 90 days of account opening. Expires December 11, 2026 |
| Key Select Money Market Savings account | 6-month interest rate bonus of 0.05% to 3.75% | Use offer code VRMA0926 to open the account, and increase your balance to at least $5,000 to $2,000,000 to earn a bonus rate of 0.05% to 3.25% for up to six months. OR Use offer code VRMA0926 to open the account, and increase your balance to at least $25,000 to $2,000,000 to earn a bonus rate of 0.05% to 3.75% for up to six months. Expires November 4, 2026 |
Based on requirements and the bonus amount, the Key Select checking $500 bonus is the best offer.
The $500 bonus is a nice chunk of cash no matter how you slice it. To earn the bonus, it requires $5,000+ in direct deposits over the course of 90 days. It seems like a lot, but it’s definitely doable. Broken up into biweekly direct deposits (like many of us get), that requires about $833.50 in biweekly paychecks for three months.
On the other hand, the interest rate bonus for the Key Select Money Market Savings sounds good, but taking another look, it may not be worth the hassle for such a short-term payoff. You need a balance of at least $5,000 to get the 3.25% boosted rate, or at least $25,000 to get the 3.75% boosted rate with the second offer. And on top of that, the rate drops after six months and reverts to standard or relationship rates, which are just 0.25% to 1.75% APY.
So at the end of the day, the Key Select checking offer is simply the most attractive one on the table. And if you don’t think you can meet the Key Select checking criteria, the Key Smart Checking $300 bonus is much easier to get, requiring just $2,000 of direct deposits across three months.
KeyBank considers eligible direct deposits as electronic automated clearing house (ACH) deposits. This can include payroll, social security, pension or other government benefits.
Like most other banks, deposits made through a teller, ATM or via mobile check deposit are ineligible in the case of earning bank account bonus offers.
Is KeyBank not the ideal option, or it doesn’t operate in your state? Compare the best bank account bonus offers right now.
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