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I love it when new sign-up bonuses become available. They’re some of the easiest ways to earn money, provided that there’s no type of obligation or fees involved. When you sign-up for a new checking account with KeyBank, you get a $100 sign-up bonus when you use marketing code EVRC1015, and you don’t have to worry about any maintenance fees.
What Type of Checking Account Do I Need?
There are multiple checking accounts with KeyBank that you can choose from. However, a lot of them come with monthly fees, so we’re going to want the one that we can get away with paying the minimum amount: The Key Express Checking Account.
- $50 minimum deposit to open account
- No monthly debit card fee
- Soft credit check when opening an account
- $7 monthly maintenance fee (can be waived)
- Cancel account after 6 months with no fee
- Initial deposit can be made with a credit card
There is a $7 monthly fee, but if you maintain a deposit of at least $500 or make 8 transactions within the month, this fee will be waived. No matter what, the first three months of opening the account will not be charged the maintenance fee.
If you do cancel the account within 180 days after opening it, you will be charged a $25 fee. This is why we recommend maintaining the $500 minimum deposit each month and then waiting until at least 6 months have passed to cancel.
You must use the marketing code EVRC1015 to receive the $100 sign-up bonus when you apply online or in-person. The bonus will be automatically put in your account within 90 days of sign-up. The great thing is that this shouldn’t affect your credit score as it’s considered a soft credit check.
This valid expires on 1/1/2016, and is only available to members who have not opened a new Key Bank Account within the past 12 months. In order to receive the bonus, you must deposit a minimum of $500 within the first 60 days. After that, it’s not required to maintain that amount in your account.
Unlike KeyBank promotions in the past that limit the award to residents of a specific state, this applies to everyone who is eligible to open a bank account in the US. Keep in mind that bonuses are treated as taxable income, so you may receive a tax form the following year.
How Do I Sign-Up For The $100 Bonus?
Getting the $100 bonus with Key Bank is simple and can be done in just 4 simple steps.
1. Apply. You can apply for a new Key Bank account by clicking this link here. Enter in your zip code to get started.
2. Start a new application. On the following page, click on “Start a New Application” and enter in your personal information, just like you would with any bank account. This is for an Express Checking Account.
3. Enter in referral code. On the next page you’ll be prompted to enter in a marketing code. In order to get the $100 sign-up bonus, enter in EVRC1015.
4. Deposit $500 into your Express Free Checking. You’ll have the option to deposit $500 via your credit card or transfer money from an existing bank account. You must do this within 60 days to receive your bonus. Wait up to 90 days and $100 will automatically be deposited into your account. If you wish, you can also apply in person at any location and bring in your marketing code.
All together, it should take you only about 30 minutes of work at most in order to receive the $100 sign-up bonus. This includes signing-up for an account and then waiting 90 days for the bonus.
Remember to maintain at least a minimum deposit of $500 at all times, or make 8 transactions each month in order to avoid any monthly maintenance fees. If you have any questions, don’t hesitate to leave them down below. Happy frugaling!