November 18th, 2009
Open Up A Key Account And Get Up To $275 Cash!
Update: Just a reminder, you must open the account by 11/20 to get the cash!
Originally posted on 10/21:
Business Offer: Up to $275
You need to open the account by 11/20 and perform the required actions by 01/22/10.
Im my opinion the best account to open for this promotion is the Key Business Money Market Checking. You need to maintain $2,500 in the account to waive the $12 monthly fee. If you don’t have the $2,500 to lay out consider the Key Business Reward Checking account which has no fee for the first 2 months and a $15 fee thereafter. Expect having to keep the account open for about 3 months to receive the $275. If you close any account within 180 days from the date of opening there will be a $25 fee.
All you need to do for the business account is to open an account as a sole proprietor, no business documentation will be required. Then just sign up for online access and make 2 bill payments of just $1 each and you will get $275 in cash!
The terms say that you will get the $275 within 90 days of meeting the requirements, but when I performed a similar offer in April (I funded a Key Business Money Market Checking with $2,502, signed up for online banking, and made 2 bill payments for $1) it took less than 60 days to get the promotion.
You can only get 1 Key promotion per business account in a 12 month period.
You will get a 1099 tax form for the $275.
Offer is valid in “Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont, and Washington.”
HT: D.Y.G.
October 21st, 2009 at 8:02 am
does the acccount still need to be open to get the $275 or can you close the account after meeting the requirements(namely, paying 2 online bills) and still recieve the promotion?
October 21st, 2009 at 8:23 am
Can you do the signup online or do you need to go into a branch? Also, can you do both the consumer and business offer or only 1?
October 21st, 2009 at 8:40 am
If you are willing to settle for $225 instead, consider the Key Business Free Checking which only seems to require $250 to start and no monthly fees or minimum balance.
October 21st, 2009 at 11:32 am
whats the big deal, open the acct fulfill the requirements, get the $275 . Clean out the acct by paying off a CC say and then close it. They will charge you $25 but your bal will be $0, if they threaten to go after you send them a check for $25 you still will be way ahead!
Wish they offered this instead of the GPS when I did it
October 21st, 2009 at 1:20 pm
Did anyone open an account with them already? Can it be funded with a credit card or no?
October 21st, 2009 at 2:32 pm
$100 max on a CC
October 21st, 2009 at 5:32 pm
“You can only get 1 Key promotion per business account in a 12 month period.”
So if i did the GPS, does that mean i can’t do this?
October 21st, 2009 at 8:23 pm
Mendy, I would assume that if you did the GPS with a personal account, then you can still do this with a business account, and vice versa. Can anyone verify this though, because that would mean I’m eligible too!
October 21st, 2009 at 9:39 pm
which bank?
October 22nd, 2009 at 10:08 am
hi. you wrote that the $275 PROMOTION IS ONLY VALID once a year per business account. can I open various business acoounts with the same ss number and get the promotion on each one? If not, can I atleast get one for business and one for regular???
October 22nd, 2009 at 10:42 am
i live in new jersey can i just give a new york address
October 23rd, 2009 at 2:40 pm
what do i write by legal business name? address?
October 26th, 2009 at 10:45 am
hi, did you sign up for the key bank?? didn’t you do the business account in april? if so, how can one get the $275 , i really want to sign up!
November 1st, 2009 at 1:39 am
Dan, could you please explain how you opened your account if “1 Key promotion per business account in a 12 month period”?
could i do the same? (i already got the gps with a business account)
November 1st, 2009 at 1:54 pm
When I try to complete the information for the business account online, after marking off sole propietor it asks what state are you organized in, the nature of the business, what is the monthly annual sales…. I dont know, but it seems like theyre asking questions that an ACTUAL business owner would be able to answer….
Is there a way to still get the biz account and get around this? maybe I’m missing something but seems like not….
any help would be GREATLY appreciated! Thanks!
PS Dan- your website is incredibly useful and has made a big impact in the way I see the credit card world. Thank you for all your hard work and publishing deals as well as finding creative ways to get miles. As a request, if possible, maybe when youre not so busy you could post a thread on how airline miles work and how to get the best bang for your miles.. I guess just a intro to the whole world of miles. Its hard to follow sometimes…
Thanks again!
November 1st, 2009 at 5:26 pm
Dan, when you get a chance, could you PLEASE respond to my question.
November 1st, 2009 at 6:17 pm
@Mendy:
I didn’t, my wife did.
@Moshe d:
Do you ever sell stuff on ebay? There’s your business!
November 1st, 2009 at 9:28 pm
Thanks Dan. But was that because you can’t, or just for convenience? (Meaning could i still do it under a different business name?)
November 4th, 2009 at 6:20 pm
Dan, before the deadline comes, could you please answer me if i”m eligible to do a business account if i already did the gps?
(Sorry for being such a nudge)
November 5th, 2009 at 11:32 pm
Could you pretty please answer me, i really want to know if i can do it.
(Sorry again for being such a nudge)
November 5th, 2009 at 11:42 pm
Mendy if I knew the answer I’d tell ‘ya.
Try opening under another business name and let us know!
November 6th, 2009 at 12:59 am
OK, Thanks!
November 18th, 2009 at 9:26 am
thanks dan, does this promotion apply for opening up any keybank account?
November 18th, 2009 at 9:33 am
sorry for that last question I just saw on their site that it can be…one last question, how would i sign up for a business account without actaully owning a business? thanks
November 18th, 2009 at 10:51 am
Is there a soft or hard pull on credit?
November 18th, 2009 at 11:01 am
do i need to mantain the 2.5k for three months in order to get the $275?
also, if i dont have a business what account should i open? or an i supposed to make up a business??? (banks seem to be smarter than that!)
thanks
November 18th, 2009 at 12:41 pm
Hello.
anyone know the best (cheapest) way to fly from jfk to israel for chanukah using mileage, i have alot of miles from my american express card that can be transfered to practicely any airline. please advise.
thnak you
November 18th, 2009 at 1:01 pm
@dovid:
Easy, did you ever sell something on ebay? There’s your business. “Dovid’s Ebay Sales”
Just apply as a sole proprietor with no tax ID number.
It’s not a big deal at all.
@chaya:
For the Business Money Market if you have less than the $2,500 you will still get the $275, but you will pay a $12 monthly fee.
You may also want to consider the Business Reward Checking which has waived fees for the first 2 months and $15 thereafter for balances under $5,000.
November 18th, 2009 at 1:02 pm
@dovid:
Please make a post on http://www.dansdeals.com/forums to get all misc. questions answered-Thanks!
November 18th, 2009 at 1:10 pm
Coming from key bank in monsey and this is the offer they have there.
1. buissness checking account you get 225 not 275
2.to get 225 for personal account u need 25000 minimum dep
3.on a no minimum free personal checking u get 125
4.on all deals u must get a free debit card and make a debit transaction any amount plus 2 automated payments from this checking account a minimum of 100 each u must open account by 11/20/09 and make those three transactions by 1/22/10
5. you can open one account and your wife another and get 125 for each account after all transactions are done
6.the account must stay opened for 6 months
7.enjoy the cash
November 18th, 2009 at 1:11 pm
thanks dad for that quick response…
but i still have a few questions…
1) i dont have a business, ur saying i can pretend that i have an ebay business?
2) i do have 2.5k that i can lock in for three months, but i would rather not tie up that amount of money, is there anything else i can do for less money?
3) can i take out the money as soon as i get the check from key or do i need to keep it up to 180 days?
November 18th, 2009 at 1:17 pm
@judah:
Sounds like you’re better off applying online.
@chaya:
Just come up with a business name and “start it” as a sole proprietorship, there is no paperwork that you need to start one.
You can eat the fees if you don’t want to lock in the money. After you get the $275 you can close the account early, but that will cost $25 if done before 180 days of opening the account.
November 18th, 2009 at 1:27 pm
dan
i opened 1 account and my wife another
dont have to tie up 2500 in each account i opened each account with 50 and we will get 250 together
just need to pay those bills which we do anyway with another checking account so ill use these for the next few months
November 18th, 2009 at 1:59 pm
i’m trying to sing up for the business free checking account. Looks like there no min. balance, or fees. But is seems like i need to dep. $250 to open it. It says i must mail check to open. I can’t give $ from a WachoviaBank account?
November 18th, 2009 at 2:23 pm
So bec. I didn’t know how to fund it i just selected I would send check in mail. So when I finished it just said ‘we are proccesing your application and will contact you… ‘ Will I make the 11/20 deadline? looks like my account wasn’t opened yet, just they’re proccesing my application! Did I do something wrong?
November 18th, 2009 at 2:25 pm
@Anon 1:59 again:
Call ‘em up and ask them!
November 18th, 2009 at 3:33 pm
@Anon 1:59 again:
i think u should still get the offer since u already applied
it will take a few days till u get the paperwork in the mail
November 18th, 2009 at 3:50 pm
I spoke to them. They said as long as the application was sent in by 11/20 it is fine and I don’t have to actually fund it right away!
November 18th, 2009 at 4:03 pm
it says you need a 100 buck bill pay how did you do it for 1$
November 18th, 2009 at 4:07 pm
@cheap dude:
Business account.
November 18th, 2009 at 4:17 pm
wat is 100 buck bill pay?
November 19th, 2009 at 4:04 pm
can I open up both a business and a consumer account??
November 19th, 2009 at 6:41 pm
2 $100 Bill Pays is very simple Login and go to the Payment section add any 2 credit cards you have and send each a payment of $100
November 20th, 2009 at 12:20 pm
so i live in new jersey so i cant do it ??
December 17th, 2009 at 9:47 am
“You will get a 1099 tax form for the $275.” What does that mean?
December 17th, 2009 at 12:56 pm
@BSW:
You’ll owe taxes on the $275.
December 17th, 2009 at 10:47 pm
And Obama intends to take how much of the $275?
December 18th, 2009 at 12:21 am
@BSW:
That depends on your marginal tax bracket. Could be anywhere from $0 to $95 for federal taxes.
January 12th, 2010 at 12:07 am
btw check your account i got my 275$ !!!!
February 15th, 2010 at 7:52 pm
You have to be careful. They are cheaters. I opened a new account and they charged me ther monthly fee each of the first 2 months, and I had to call and complain each time to get credited back the money. Then I added my key bank info to my credit cards online, and made a cc payment from my key account and they told me today when I called that it doesnt qualify for the promotion (they said that is a withdrawl, not a bill pay, whatever that means!), and that if I want to close my account I would have to pay $25. Chutpah! Not to mention ganovim! I made to transactions and they made two mistakes (‘forgot’ to waive the fee for first 2 months. 2 ‘mistakes’)!