KeyBank is offering a nice checking account bonus worth up to $500, depending on which checking account you open. This deal is available in select states, but some have reported success opening accounts in-branch even with out-of-state residency.
Let’s walk through the details.
The Deal
KeyBank is offering two separate checking bonuses:
$300 bonus with Key Smart Checking® $500 bonus with Key Select Checking®
You can only earn one bonus per account opened, and each account has its own deposit requirements.
Offer expires February 6, 2026.
Availability
Officially available in the following states:
AK, CO, CT, ID, IN, MA, ME, MI, NY, OH, OR, PA, UT, VT, WA
Some customers have had success opening accounts in-branch even if they live outside these states, though this is not guaranteed.
$300 Key Smart Checking® Bonus
Key Smart Checking is a no-frills checking account with no monthly maintenance fee, making it the easier option for many people.
How to Earn the $300 Bonus
Open your account by 2/6/2026
Use offer code KDMA1125
Make the $10 minimum opening deposit
Receive $2,000 or more in eligible direct deposits within 90 days of account opening
Get paid
Your bonus will be deposited within 60 days after you meet the requirements
Account must remain open at the time of payment
$500 Key Select Checking® Bonus
Key Select Checking is an interest-bearing account that also includes a $100 annual relationship bonus, but it comes with a higher monthly fee if you don’t meet the waiver requirements.
How to Earn the $500 Bonus
Open your account by 2/6/2026
Use offer code KDMB1125
Make the $50 minimum opening deposit
Receive $5,000 or more in eligible direct deposits within 90 days of account opening
Get paid
Your $500 bonus will be deposited within 60 days after meeting requirements
Account must remain open at the time of payment
Monthly Maintenance Fees
Key Smart Checking®
$0 monthly fee
Key Select Checking®
$25 monthly fee waived for the first 3 months
After the 3-month grace period, the $25 monthly fee can be avoided if either of the following is met during a statement cycle:
Maintain a $15,000 combined balance across eligible KeyBank accounts OR receive $3,000 or more in eligible direct deposits per statement cycle
When Will You Get the Bonus?
Bonuses are paid within 60 days of meeting the deposit requirements Your account must be open and not closed when the bonus is issued
Final Thoughts
This KeyBank offer gives you flexibility depending on how much direct deposit you can route:
The $300 Key Smart Checking bonus is easier to earn and comes with no monthly fee
The $500 Key Select Checking bonus is better for higher-income earners who can meet the ongoing fee waiver requirements
If you can comfortably direct $5,000 in deposits and avoid the monthly fee, the $500 option is one of the stronger checking bonuses available right now.
Link to offer: Key Bank bonus