Discover the latest KeyBank bonuses, promotions, and offers for checking, savings, and money market accounts. Earn cash bonuses, competitive APYs, and more with their top deals. Learn more about how you can take advantage of these exciting KeyBank offers.
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Introduction: Get Rewarded With KeyBank Bonuses For New Accounts
KeyBank distinguishes itself not just through its robust portfolio of banking products and services but also by rewarding its customers with attractive bonuses and promotions. As a prominent financial institution headquartered in Cleveland and boasting over $190 billion in assets, KeyBank has established a strong presence across 15 states.
It stands out for its commitment to enhancing customer value, offering a variety of bonuses designed to benefit both new and existing clients. Whether you’re opening a new account or leveraging existing banking relationships, KeyBank’s incentives are crafted to enrich your banking experience and reward your financial decisions.
How You Can Earn a KeyBank Bonus
Earning a bonus from KeyBank typically involves opening a new checking account. While some promotions are targeted—requiring a direct offer from KeyBank—others are available to new customers who use a specific offer link or code to open an account. These promotions often require completing certain activities, such as setting up direct deposits or maintaining a minimum account balance.
See below for the best and latest KeyBank bonus offers currently available.
Latest KeyBank Bonuses
KeyBank’s promotional offers are designed to cater to a wide range of banking needs, offering something for everyone. KeyBank structures its bonuses to reward actions that align with healthy financial habits. Here are the best bonuses currently being offered.
Key Smart Checking®: KeyBank $300 Checking Bonus
KeyBank is offering a deal for new customers: earn a $300 cash bonus with the Key Smart Checking® account. With no monthly maintenance fees and a series of qualified activities, customers can enjoy a straightforward banking experience while capitalizing on a generous bonus.
- What you’ll get: $300
- Where it’s available: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA
- How to earn it:
- Open a Key Smart Checking® account online by December 13, 2024.
- Make a minimum opening deposit of $10, plus one eligible direct deposit of at least $1,000 within the first 60 days of account opening.
- Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
- When it expires: December 13, 2024
Key Select Checking®: KeyBank $300 Checking Bonus
KeyBank is offering a deal for new customers: earn a $300 cash bonus with the Key Select Checking® account. The account is designed for those who value both functionality and rewards in their banking experience:
The promotional period runs until December 20, 2024, making now the perfect time to consider switching or opening a new account.
- What you’ll get: $300
- Where it’s available: AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA
- How to earn it:
- Open a Key Select Checking account online by December 20, 2024.
- Make a minimum opening deposit of $10, plus one eligible direct deposit of at least $1,000 within the first 60 days of account opening.
- Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.
- When it expires: December 20, 2024
Key Select Money Market Savings® Earn High Yield Bonus Interest Rate
The Key Select Money Market Savings® offers an exceptional opportunity for savers to substantially increase their earnings with an attractive interest rate of 4.50% (2.90% blended APY*) for the first 6 months, applicable on balances ranging from $25,000 to $1,999,999.99.
This promotional offer requires an increase in total relationship balances by at least $25,000, catering to individuals looking to consolidate their banking and savings with KeyBank.
Here are the details:
- Promotional Interest Rate: Earn a competitive interest rate of 4.50% (2.90% blended APY*) for the first 6 months on balances ranging from $25,000 to $1,999,999.99. This rate applies when there’s an increase in total relationship balances of at least $25,000.
- Minimum Deposit Requirement: Open your account with a minimum deposit of $5,000, making it accessible for those ready to invest a substantial amount into their savings.
- Waivable Monthly Maintenance Fee: Waive the $20 monthly maintenance fee when you have either a KeyBank consumer relationship package checking account or a minimum daily balance of $25,000.
- Tiered Interest Rates: Enjoy tiered interest rates based on your account balance, compounded daily to maximize your savings growth over time.
(Rates vary by locations. Click offer link to find the rates for your area.)
Bank Bonus Factors to Consider
Before diving into KeyBank’s promotions, there are several important factors to consider:
- New Accounts Only: KeyBank’s checking bonus offers are generally not available to individuals who have had a KeyBank checking account or Hassle-Free Account in the last 12 months.
- Bonuses are Taxable: It’s important to remember that bank bonuses are considered taxable income, reported to the IRS using Form 1099-INT.
- Fees and Other Account Requirements: While some KeyBank checking accounts require minimum opening deposits and may have monthly maintenance fees, these fees can often be waived by meeting certain criteria.
- Geographic Availability: KeyBank’s accounts and bonuses are available exclusively to residents of specific states, including Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
What You Should Know About KeyBank
KeyBank is a major player in the financial sector, offering a wide array of banking products and services across the United States. Here’s an overview of what you should know about KeyBank, covering its history, operational footprint, product offerings, customer service, and digital banking capabilities.
Historical Background and Operational Footprint
Founded in 1825, KeyBank is one of the nation’s oldest and largest financial institutions, with roots that extend back nearly two centuries. Its headquarters is in Cleveland, Ohio, but KeyBank’s operational footprint spans across 15 states, primarily in the northern, midwestern, and western parts of the U.S. This wide-reaching presence underscores KeyBank’s significant role in the American banking sector, serving individuals, small to mid-sized businesses, and corporations.
Comprehensive Financial Products and Services
KeyBank offers a full suite of banking products and services designed to meet the diverse needs of its clientele. This includes a range of checking and savings accounts, certificates of deposit, individual retirement accounts (IRAs), and an array of lending products such as mortgages, auto loans, personal loans, and lines of credit. For businesses, KeyBank provides solutions including business checking accounts, commercial lending, payment processing services, and treasury management.
Beyond traditional banking products, KeyBank also offers wealth management and investment services, catering to clients looking for financial planning, asset management, and brokerage services. This holistic approach to financial services ensures that both retail and commercial clients can find nearly all financial solutions under one roof.
Customer Service and Accessibility
KeyBank places a strong emphasis on customer service, offering multiple channels for client support. Customers can access assistance through traditional means such as visiting physical branches and contacting customer service via phone. Additionally, KeyBank provides modern support options including online chat and social media platforms, ensuring that clients can seek help through the channels most convenient to them.
The bank’s network of branches and ATMs, although concentrated in its 15-state operational footprint, provides ample access for its customers. Furthermore, KeyBank’s partnership with the Allpoint ATM network significantly expands free ATM access nationwide, enhancing convenience for customers traveling or living outside KeyBank’s direct service areas.
Digital Banking Capabilities
In response to the growing demand for digital banking services, KeyBank has invested heavily in its online and mobile banking platforms. These platforms offer users the ability to perform a wide range of banking activities remotely, including account management, funds transfer, bill pay, and mobile check deposit. The bank’s digital tools also include features for budgeting and financial management, helping customers to track their spending, set savings goals, and manage their finances more effectively.
KeyBank’s mobile app is designed with user experience in mind, providing a secure, intuitive interface for customers to manage their accounts on the go. The app includes biometric login capabilities, such as fingerprint and facial recognition, for enhanced security and convenience.
Commitment to Community and Sustainability
KeyBank is notable for its commitment to community development and sustainability. The bank has undertaken initiatives to support affordable housing, small business growth, and financial education in the communities it serves. Additionally, KeyBank has made strides in environmental sustainability, including efforts to reduce its carbon footprint and invest in renewable energy projects.
How KeyBank Bonuses Compare With Others
Here are several other bank bonuses to compare with KeyBank’s current offers.
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Our Take on KeyBank Bonuses
KeyBank’s strategy of offering bonuses for new accounts and referrals is an effective way to attract new customers and reward existing ones. While the promotions change frequently, staying informed about the latest offers can lead to significant financial benefits. As always, it’s crucial to read the current offer guidelines carefully to understand the eligibility requirements and deadlines associated with earning a bonus through KeyBank.
By John Huynh, with over two decades in finance and investing, including as a Senior Finance & Operations Manager at a renowned research institute and degrees in Economics and International Studies from UC Irvine. Edited by Tony Jay, a seasoned finance blogger and Executive Editor with two decades in banking, specializing in online banking and savings strategies. Tony holds a doctorate from Tulane University.
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