MyCardBlog

KeyBank is famous for offering GPS or iPod Nano for new customers who open a new checking account at Key Bank. And now Key Bank is running a new checking account bonus from which customers can earn either $125 or $225 bonus. The promotion page about this banking bonus is at: here.

According to the promotion page, it is pretty easy to get the $125 or $225 sign up bonus:

• Open a qualifying checking account and enroll in KeyBank Rewards by November 20, 2009
• Make one debit card transaction and a combination of two direct deposits and/or automated payments each of $100 or more by January 22, 2010

$125 is available for opening the free checking account which has no minimum balance requirement or monthly service charge. The $225 bonus needs to open either the Key Privilege Checking or Key Privilege Select Checking. Both of the two checking accounts have high minimum balance requirements to avoid a monthly service fee.

Fine print:

Free personal checking applies to Key Express Free Checking account. Between 10/17/09 and 11/20/09, you must open a Key Express Free Checking (this is the basic banking account in NY) or a Key Advantage Checking account and by 1/22/10 make one KeyBank Rewards debit card transaction and a combination of two direct deposits and/or automated payments each of $100 or more to get $125 or 60,000 KeyBank Reward Points. Limit one $125 gift or 60,000 points per qualifying account. Limit one $125 gift or 60,000 points per individual. The $125 gift will be reported on Form 1099-INT. Your $125 gift will be deposited into this account or you will receive 60,000 points within 90 days of meeting requirements. Maximum point accumulation is limited to 295,000 per calendar year. When you redeem points for a reward, you and the merchant are responsible for compliance with all laws related to the reward, including the payment and collection of any federal, state, and local taxes.

Between 10/17/09 and 11/20/09, you must open a Key Privilege or a Key Privilege Select Checking Account and by 1/22/10 make one KeyBank Rewards debit card transaction and a combination of two direct deposits and/or automated payments each of $100 or more to get $225. Limit one $225 gift per qualifying account. Limit one $225 gift per individual. The $225 gift will be reported on Form 1099-INT. Your $225 gift will be deposited into this account within 90 days of meeting requirements. Minimum combined balances required to avoid a monthly Maintenance Service Charge (ask for details).