Three Checking Account Bonuses That Won’t Pay Off For The Little Guy

Big banks got hammered in the media throughout much of the final quarter of 2011 due to their – albeit immediately reversed – threat of adding new fees. However, depending on your own individual financial circumstances, you may still get slammed by fee’s from some of the nation’s leading banks.

In light of this little tidbit, we put together a list of the top 3 new checking account bonuses that won’t end up paying off if you’re not considered a ‘high value account’ to them.

However, before we hop into the 3 account promotions, let’s analyze what makes up a high value client for the likes of Citibank, Bank of America, Chase or any other large national powerhouse.

1) Someone who has or will open multiple accounts with the bank (ie. credit cards, mortgage or home loan, auto loan, etc.)

2) Someone who regularly holds a high balance in their checking account. In fact, these are the would-be customers hit by the new fees that were so badly brutalized in the media. Anyone who regularly keeps under $500 in their checking account can consider themselves a ‘low value client’ to a big bank and should probably look into a credit union or online bank. Conversely, check out how one can earn 2% cash back on their checking account by keeping more than $5k as a balance.

3) Someone who plans on keeping their retirement account(s) with the bank’s investment arm. Obviously the larger your nest egg, the more valuable of a client you are.

So…for the littler guys just looking for a no fee’s checking account with a lucrative sign-up bonus, STAY AWAY from these tempting offers, which, by the way, will immediately pop up in Google when searching for “checking account bonuses.” Don’t believe me? Give it a try!

Stay Away From…

1) Key Bank’s Checking Account Bonus. Get $150 by opening one of their many checking account packages.

What they tell you: Get $150 when you switch to Key Bank.

What you’ll also need to know: You’ll need to open one of their various checking accounts and make 60 payments and or purchases within 3 months, plus, make 3 separate $500 deposits in 3 months. However, the most important thing to notice is that ALL of their checking account packages come with “maintenance fee’s” (besides one) unless you can keep a rather hefty $10 – $100k in them. Their most basic checking package is the “Key Express Checking Account” and you’ll still need to deposit at least $500 or initiate five account transfers per statement cycle to avoid fees.

2) Citibank’s Checking Account Bonus Offer. Open one of two checking accounts and earn between $50 and $100 in bonuses.

What they tell you: Get $100 after opening a Citi Gold Checking Account or $50 from their traditional Citi Checking Account.

What you’ll also need to know: There’s no monthly service fee if you maintain a $15,000 combined average monthly balance requirement in eligible products; otherwise $20.00 monthly service fee is applied. Eligible products are linked deposits, loans, mortgages, and investment accounts.

3) Chase Checking Account. Get $125 for opening a new account by using a promo code or getting one emailed to you. Google “Chase Checking Promotion” to find the promo code.

What they tell you: Get $125 for opening a new Chase Checking Account and making one direct deposit. As a quick disclaimer, we did mention this on our list of top checking account offers in 2012, however, we provided the disclaimer that this account bonus will only be worth it if you plan on making Chase your primary bank and moving larger sums over to their bank.

What you’ll also need to know: Chase’s checking account has no monthly service fee’s for those who can either make a monthly direct deposit of $500 or more or keep a daily average balance of $1,500. If you can’t you’ll get dinged with a $12 fee. So as you can see it’s the best of the three big bank checking account promotions, but still likely not worth it for the little guy.

Checking Account Promotions for New Customers in 2012 (Top 5)

2012 has started out with a good amount of cash bonuses and prizes for customers opening new checking accounts. If you recall, last year ended quite badly for the big banks and their checking account products. After the threat then immediate retreat of new checking fees from Citibank, Bank of America and Wells Fargo, consumers flooded into credit unions at a rapid pace. These fees – that never actually arrived due to widespread unpopularity – were in many ways, the final straw that broke the camels back for a large segment of consumers that were already fed up with the nation’s largest banks.

Now the good news!

Since then, crafty online banks and banks who cater to a more diverse set of consumers (not just the most profitable ones) have seen this as a golden opportunity to dangle tempting promotional offers in front of consumers contemplating a new checking account. So in many respects now is an optimal time to either switch your checking account over to a new bank or credit union or start a new account all together while cashing in on some freebies and cash!

Some of the accounts you will see here will be limited to a select group of consumers in order to avoid fees or even take advantage of the offer in the first place, but the top 2 (which are by far the most lucrative offers in the long run) are available online and to everyone in all 50 states.

Top 5 Checking Account Promotions of 2012:

(We will attempt to keep these offers up-to-date throughout the course of 2012. If you feel we’ve missed one, please let us know in the comment section below!)

1) ING Direct Checking Account - $50 Sign-Up Bonus and No Fees! This was last year’s number 2 top checking offer but took over at the one spot because they’ve managed to attach an interest rate to the account that is higher than the current national average for interest checking accounts. When you combine this with the sign-up bonus and the zero fees and the ease and simplicity of the account, it makes for a pretty enticing offer in 2012. The account is available to open online.

2) Perkstreet Cash Back Checking Account – Have you heard of this checking account before? It not, you better get to know them because it will likely become a household name in years to come. We’ve mentioned this company so many times before on BankVibe.com we feel like we are beating a dead horse by going over the facts again. Just click on the link above to see our full review. In a nutshell you’ll get 1% cash back on all purchases with a balance under $5k and 2% cash back on all purchases when your balance is above $5k. Consumers can earn up to $600 in cash back each year according to Perkstreet.

3) MB Financial Checking Account – Up to $200 in bonuses. This bonus structure, like many checking promo’s, is set up in tiers so that you earn a little bit of money for completing a certain number of requirements. For example, to earn the first hundred you have to set up a monthly recurring direct deposit. This likely means you’ll have to make this your primary checking account. You’ll also earn additional $50 and $25 incentives for things like opening additional accounts with the bank and enrolling in e-statements. Check out the bonus link here.

4) Chase Bank Checking Account – $125 Bonus. This is another bonus that is on and off the market every other day it seems. Right now just Google “Chase 125″ and you’ll get to the proper page. Basically you just need to set up a direct deposit with their “Chase Total Checking Account” either by stopping into a local branch or by having the coupon emailed to you. Watch out for fees with these accounts though, if you keep a limited balance you might get dinged pretty hard. Their latest promo is dated to expire at the end of February 2012.

5) Sovereign Bank – 3 promotions with $125, $75 and $50 cash bonuses for new checking accounts. Their premier checking account package (watch out for fees!) provides the $125 bounty. Sovereign Bank’s Preferred Checking Account pays the $75 bonus once you make 5 debit card transactions (again check fine print for fees!). The last offer is for their ‘less profitable clients’ and comes with a $50 bonus. It’s called their “Classic Checking Account.”

Know of a better existing deal in 2012? Tell us about it in the comment section below!

Banks and Credit Unions in California with No Overdraft Fees

We will be conducting research on a number of checking account products from hundreds of banks and credit unions throughout the country and publishing our results of the institutions imposing no overdraft fees associated with their checking accounts on a state by state basis. Although we are starting with California this week, stay tuned as your state will pop up in the near future. If you happen to be one of those individuals that occasionally withdrawals slightly more than you have, rest assured that you wont be hit with overdraft fees from the following accounts.

Top 5 Checking Accounts with No Overdraft Fees in California

1) Perkstreet Checking Account – This account with it’s current features will always hold the number one spot simply because it’s the most rewarding checking account on the market and it’s widely available. You can view our full review here. Just as a quick synopsis of this account, it essentially pioneered the way for “cash back checking accounts.” It comes with zero fees (including no overdraft fees). Plus it gives customers between 1% and 2% cash back on purchases – which can quickly add up to substantial savings. It was also featured in our top checking account promotions of 2011 publication.

2) ING Direct’s Checking Account with $50 Bonus – People regularly forget about this account because ING is cutting back on their physical branch locations but it has one of the simplest fees structures around – and that is that there is none. And we mean ZERO. Just like with Perkstreet mentioned above, there are no overdraft fees or monthly maintenance fees associated with this checking account. This account is available to California residents as well as consumers in all 50 states as well. Plus for a limited time, you’ll nab a $50 bonus just for opening the account!

3) Star One Credit Union – This checking account comes from a California based credit union and is geographically exclusive to that area. The way in which their overdraft fee protection works is that your checking account (debit card) is linked to your credit card so that if you withdrawal more funds than you possess in your checking account it will simply withdrawal it from your credit account without imposing any cash advance fees from the credit card as is typical with most cash withdrawals from credit cards. Star One Credit Union was established in 1956 and is based out of Sunnyvale, California and controls roughly $5.5 billion in assets from 86,000 members.

4) Patelco Credit Union – Patelco Credit Union based out of San Francisco, California has 42 locations throughout California and bordering states. Their “Free Checking Account” is a fairly straight forward checking account with no monthly maintenance fees and free overdraft protection. They will impose zero overdraft fees but they will take the overdrawn funds from another account you have with them (similar to Star One Credit Unions approach above).

5) California Credit Union – CCU based out of Glendale, CA has just 14 locations throughout the state and has been around since 1933. Their “Free Checking Account” also comes with overdraft protection that must be secured by a line of credit either through a credit card or an additional line of credit set up with the institution. Keep in mind though that interest will be paid on the advanced amount.

Since the constant threat of new checking account fees especially associated with the countries largest banks, we figured we’d give a state by state run down of alternative options that still believe in straight forward and easy-going checking. Let us know if you know of a noteworthy checking account in this respect.

PerkStreet Upping The Ante On Their Checking Account: $25 Bonuses!

The increasingly popular PerkStreet Checking account has unleashed a limited time $25 bonus offer to new customers opening one of their “cash back checking accounts.”

Get the $25 Bonus Here!

If you’re a regular reader of BankVibe.com, you’ve undoubtedly heard of this company before. However, if you’re just passing by, this may be your first time hearing of them.

In a nut shell, PerkStreet is attempting to reconstruct the checking account product to make it more rewarding for consumers. Typically checking accounts have been (and still are) no thrills, utility vehicles, simply geared towards providing access to one’s cash for everyday purchases.

PerkStreet, however, has combined the enticing features of a cash back credit card to their checking account (hence “cash back checking account”). The cash back you receive varies between 1% and 5% depending on account balance, type of purchases and whether or not they are running any sort of promotions. Today, you can earn up to 2% on purchases plus a $25 initial cash back for signing up.

Perkstreet Checking Account – How it works:

If your daily account balance is above $5,000 you’ll get 2% cash on all non-PIN based purchases. If your daily account balance is less than $5k, you’ll get 1% cash back on all non-PIN based purchases. According to PerkStreet, the average household will earn $600 per year in cash back with this account. The account also comes with absolutely zero fees and free ATM usage nationwide. Read our full review of PerkStreet’s checking account to learn more.

Below is a comparison chart of PerkStreet’s checking account against the most popular checking accounts in the country.

New accounts get a $25 bonus!

Before you sign up for their checking account, make sure you take advantage of their $25 bonus that’s available until Christmas Day. Get the $25 Bonus Here!

5 Checking Accounts With No Fees That Can Be Opened Anywhere

We were recently emailed a desired set of criteria for a free checking account by BankVibe.com reader Jenny that we’re sure has been on the minds of many consumers throughout the country. Here’s the email:

“Please inform me on which checking account(s) still provide no maintenance fees on accounts with low balances, no ATM surcharges and/or a large network of surcharge-free ATM’s.”

Below we’ve constructed a list of 5 free checking accounts from either banks or credit unions (with broad acceptance) that meet the qualifications above. We’ve also thrown in a few of our favorites with some additional perks that we’ve reviewed here in the past.

1) ING Checking Account- Now with a $50 Cash Bonus for Signing-Up. The $50 cash bonus will be deposited into your account on day 50 given you make just 3 purchases with the card within 45 days. The “Electronic Orange” checking account by ING Direct is one of our favorite options for not only meeting the criteria we mentioned above but also going above and beyond. They impose no overdraft fees, no monthly maintenance fees or ATM surcharge fees. They have one of the largest free ATM networks of over 35,000 ATM’s across the country – with an ATM never more a than a few miles away (ATM’s can be located on their website or with their mobile app). Plus, depending on your monthly balance amount, you have the possibility of earning a respectable interest rate that is almost always above the national average.

2) Perkstreet’s Cash Back Checking Account – We’ve hyped this account for over a year now. This is a one of a kind cash back checking account that entitles their customers to between 1% and 5% cash back depending on where you spend, along with ZERO fees, 37,000 partner ATM’s (essentially free ATM usage across the country), free checks and no minimum balance requirements. Perkstreet claims that families can earn up to $600 cash back per year with their checking account.

3) USAA Free Checking Account – Here is a straight forward fee-less checking account offer for former or active military personnel as well as their family members. With this account you’ll get free ATM usage nationwide, zero fees regardless of balance, unlimited money transfers to U.S. banks, as well as a number of free online and mobile tools to manage your account and pay your bills. We’ve covered $100 sign-up bonuses associated with this checking account in the past, so you may want to keep your eyes peeled or talk to a representative regarding potential upcoming bonuses.

4) Navy Federal Credit Union “Basic Checking Account” – This is another straight forward checking account for former and current Navy personnel and their family. It features a network of 45,000 free ATM’s, free checks, no monthly service fees or minimum balance requirements, as well as web bill pay and management tools. Navy Federal Credit Union checking account customers are highly loyal to this bank, with 95% of customers recommending the product. See more reviews here. NFCU is also the largest credit union in the United States by both assets and members.

5) Alliant Credit Union Free Checking w/ Interest Rate Option – Another popular credit union checking account comes from Alliant CU based out of Chicago, IL. The easiest way to gain access to this credit union is to become a member of their partner non-profit organization “Foster Care to Success.” Membership requires a $10 donation. After completing this, you’ll be able to sign up for an Alliant checking account. The checking account comes with zero maintenance fees, no minimum balance requirements and 80,000 surcharge free ATM’s throughout the country. You’ll also have an option to earn up to 1.10% APY on your balance by opting for e-statements and setting up one direct deposit.

If you know of another free checking account available throughout the country, please share by leaving a comment.

$150 to switch to a KeyBank Checking Account. Is it worth it?

KeyBank has once again issued their $150 bonus for new checking account holders. This offer comes around every so often (especially around the holiday season) and if you’re one of the many thousands of consumers that have been hit with fees by your big bank, you may want to explore some of Key Bank’s checking options – although you still wont escape fees.

Here are the four checking accounts that are accompanied with a $150 bonus:

1) Key Express Checking – No frills checking account that comes with a debit MasterCard. Avoid monthly maintenance service fees by making at least $500 in deposits or initiate five transactions per statement cycle. $40 yearly maintenance fee applied regardless.

2) Key Coverage Checking – Another no frills checking account which imposes a plethora of fees. First you’ll nab a $10 monthly service charge for simply owning the account. You’ll also have an annual $30 maintenance fee, plus an $18-per-item overdraft fee if you overdraw your account by $10.01 – $100 based on your end-of-day balance. This is a fairly pricey overdraft fee since it’s based on a per-item assessment. This fee has also been recently reduced.

3) Key Advantage Checking- These accounts require a $10,000 minimum balance to avoid fees and generally come with an interest rate, but considering our current landscape for money market rates, their rates today aren’t even worth mentioning (but we’ll do it anyway – 0.05% APY). You’ll also get dinged with the annual $30 maintenance fee.

4) Key Privilege Checking – Like the Key Advantage Account this one is essentially a money market account. You’ll get dinged with a $25 monthly fee (first 3 months waived) even though you’ll need to keep a whopping $25,000 tied up. You can keep the $25k in a number of savings-type accounts such as: CDs and savings, or in equity through a loan side account such as: credit cards and/or auto loans. So for example, if you have $5k in outstanding credit through a Key Bank credit card, $5k left to pay on your auto loan, and $15k in CDs and checking, you’ll be in compliance with Key Bank’s requirements.

Despite the enticing $150 sign up bonus for a new Key Bank Account, you should keep in mind this $150 bonus wont come easy. First, you’ll need to decide whether or not you even want a checking/money market account with Key Bank given their unavoidable fee structure (mentioned above). Second, you’ll need to do the following:

• open a qualifying KeyBank checking account online and enter offer code ONFT1011 by December 30, 2011, and
• make at least 30 payments and/or purchases within 3 months of account opening, plus
• make 3 direct deposits each of $500 or more within 3 months of account opening.

What say you? Is the $150 bonus worth signing up for?

CitiBank Checking Account Bonuses – $200-$400 in Gift Cards …and some fees

Sure some big banks are still dishing out rewards and bonuses for opening new checking accounts, but only for ‘high value’ clients. A high value client, generally speaking, is anyone holding a lot of cash or equity with the bank through various accounts and financial instruments.

So, while we’re about to make note of two solid checking account bonuses from Citibank, keep in mind you’ll have to hold high balances to avoid monthly fees. (Fee Disclosure Below)

Citibank Checking Account Bonuses:

The first one is 40,000 bonus points for opening a Citigold checking account. The 40,000 “ThankYou” points can then be redeemed for $400 in gift cards. The Citigold account is considered a “premier banking relationship” product by Citibank which requires a high monthly balance to avoid a $30 monthly fee.

Open the account with the $400 gift card bonus here.

The second one is 20,000 for opening a regular Citibank checking account. As with the premium offer, the 20,000 bonus points can also be redeemed for $200 in gift cards. You’ll still need to maintain monthly minimum balance requirements to avoid a $30 monthly fee, but the balances aren’t as high as with a Citigold account.

Open the account with the $200 gift card bonus here.

Here’s what you’ll need to do to get any of the bonuses above:

1) Open a new Citibank checking account in the Citigold or Citibank Account Package by 12/31/2011.

2) Enroll the new checking account in Citi ThankYou Rewards.

3) Within 45 days after account opening, complete one direct deposit AND one electronic bill payment for two consecutive months.

CitiBank Checking Account Fees Associated with Both Packages:

The most basic checking account Citibank offers (called the “basic checking” account) features a $8 monthly fee. The account comes with no minimum balance requirements and a $0 opening deposit requirement. It’s not accompanied with any promotional rewards.

Our take: This account doesn’t really make sense, $96 in annual fees on already low balances? It looks as if Citibank is saying, “if you don’t several thousand dollars, you’re not worth our time.” If you have under $6,000 and are looking for a new checking account, there are plenty of cheaper alternatives that may actually reward you (like this one).

The mid-level package is the Citibank account package. This is the one we’ve mentioned in the promotional section above. It features a very enticing $200 in gift cards for opening the account, however, to avoid a whopping $20 monthly fee, you’ll need to keep an average balance of at least $6,000.

Our Take: While the bonus is generous, if you dip below the $6,000 mark, the fee you’ll incur is quite punishing. Incurring the fee over the course of a year ($240) will completely wipe out the gift card bonus you snagged in the first place. This account, however, could be ideal for you if you know you’ll never have an issue with the minimum balance and the occasional $2 ding for foreign ATM usage. – PS. Ignore the minimum opening requirement of just $100, there’s no reason in having this account without more than $6k.

The last account is for high value clients only. It comes with the advertised $400 bonus in the form of either “ThankYou” points or gift cards. To avoid a $30 monthly fee, you’ll need one of the following:

• $50,000 or more for all linked deposit and retirement accounts OR
• $100,000 or more across all your eligible linked Citi accounts, excluding a first mortgage with Citibank OR
• $250,000 or more if your Citibank first mortgage is included in the total relationship.

Our Take: Unless you plan on moving several asset/equity heavy accounts over to Citibank, the account’s probably not for you. If you are looking to switch banks and have assets equal or greater to the requirements listed above, 40,000 bonus points is nice perk!

ING Direct’s Online Checking Account: $50 Cash Bonus!

ING Direct has just sweetened the pot to their already popular “Electric Orange Checking Account” which features an above average interest rate (especially for larger sums) and free checking with absolutely no fees or ATM surcharges.

For a limited time new customers opening this online checking account can now snag a $50 bonus for signing up and making a total of 3 Card purchases or Person2Person Payments (or any combo of the two) within 45 days of account opening. Once the requirements have been completed, ING will deposit a $50 bonus into your account automatically on day 50.

Sign up for the Account and Get the $50 Bonus Here!

Even without the $50 sign up bonus, this checking account from ING has been one of the most popular amongst US retail banking consumers. In a time where the nation’s largest banks are making unprecedented moves to impose fees on consumer checking accounts and debit card usage (ie Bank of America, Wells Fargo and now CitiBank) checking accounts like the “Electronic Orange Checking” from ING Direct are refreshing alternatives.

Why is the Electronic Orange Account so popular?

1) N0 overdraft fees. The national average for overdraft fees from United State’s banks sits at $30.

2) N0 ATM surcharge. The national average for ATM surcharges throughout the country sits at $2 per withdrawal.

3) No monthly fees.  The current national average for monthly fees is on the rise. While it currently sits at $13, many major banks are beginning to impose larger monthly fees if individual checking accounts don’t keep a required minimum balance. ING imposes no minimum balances nor fees for their checking accounts.

Interest Rates on ING Electronic Orange Checking:

- If your account holds less than $50,000 you’ll receive a variable rate of 0.25% APY.

- If your balance is between $50,000 and $100,000 you’ll receive a variable rate of 1.10% APY.

- If you balance exceeds $100,000 you’ll receive a variable rate of 1.15% APY.

ING is member FDIC and all accounts are federally insured up to $250,000.

To put the interest rates above in perspective, the national average for interest checking accounts are between 0.50 and 0.80% APY depending on your balance. The accounts composed in the survey of national averages may, however, impose monthly fees and minimum balance requirements as well as limit the amount of withdrawals per month. ING’s checking account has no restrictions or minimum balance requirements.

Limited Time Offer – Earn a $50 bonus when you open an Electric Orange℠ checking account from ING DIRECT

Best Cash Bonus offered for a new Checking Account

Over the weekend we were sent a link to a pretty sweet cash bonus for a new checking account from Chase Bank. Chase is notorious for these bonuses but releases them rather secretly and only for limited periods of time. From today until October 7th of this year you can snag yourself $125 in cash simply for opening a new Chase checking account and making a $100 deposit into the account.

Related: Compare this offer to our rundown of the best checking account promotions of 2011.

This seems like Chase Bank’s go to move especially when they need to shore up new accounts. And after the month of August’s tumultuous downhill ride for JP Morgan Chase’s stock price, they are probably looking for a plethora of new accounts to ease stockholders fears.

Check out the graph (below) to see the sell-off incurred this month from JPMorgan Chase’s stock price.

Regardless of whether or not you believe Chase to be in any serious trouble, the checking account bonus is still a lucrative offer and nice way to more than double your money in a short time (deposit $100 into new account and receive $125). Also keep in mind the account is FDIC insured.

Features of Chase Checking Account:

- FREE access to 16,100 ATMs nationwide

- FREE Online Banking & Online Bill Pay

- FREE Chase Debit Card with built-in security

- FREE Text and E-mail Alerts

- 24/7 access with Chase Mobile^SM on your phone

You’ll need to click on the “email my coupon” button, then Chase will send you a code to use at either a local branch or online. You’ll then need to open your new account with $100 and make one direct deposit within 60 days of opening. After your direct deposit has been received they will issue the $125 bonus within 10 business days.

We think they are having these coupon codes emailed to potential customers now rather than placing one code online for everyone to see. This gives them better control on the number of accounts they receive. When Chase Bank has issued these checking bonuses in the past their promotional codes were syndicated and featured on countless blogs which combined with social media had them spreading like Texas bush fire.

Get the Bonus Here.

OR see how this compares to our number 1 rated online checking account of 2011. Visit our Perkstreet Checking Account Review to see how that checking account can net you $600+ year in cash back!

KeyBank Checking Account Bonus: $150!

We were just forwarded a pretty sweet checking account deal from KeyBank which is available ONLINE ONLY. Currently, with a qualifying KeyBank checking account – Key Express Checking, Key Coverage Checking, Key Advantage Checking, Key Privilege Checking, or Key Privilege Select Checking – you can earn a whopping $150 cash bonus!

To get your $150 Bonus complete the following:

- open a qualifying KeyBank checking account online and enter offer code ONFT0311 by June 24, 2011, and

- make at least 10 payments and/or purchases per month for 3 months after account opening, plus

- make 3 direct deposits each of $500 or more within 3 months of account opening.

Visit their promo page here to apply. Also, you may want to compare this offer to the best checking account promotions this year.

Terms and Conditions:

Between 3/26/11 and 6/24/11, you must open a Key Express (this is the basic banking account in NY), Key Coverage, Key Advantage, Key Privilege, or Key Privilege Select Checking Account online and make at least 10 posted payments and/or purchases from the new checking account per month for the first three months after account opening, plus within three months make a total of three direct deposits each of $500 or more to get your gift. One month is calculated as 31 calendar days from account opening date (three months equals 93 calendar days from account opening date). Limit one gift per qualifying account. Limit one gift per individual. The value of your gift will be reported on Form 1099-INT. Your gift will be deposited within 90 days of meeting requirements. Qualifying purchase and payment transactions include checks, MasterCard signature, PayPass® and PIN-based purchases, Key Bill Pay, debit card automated payments, PayPal® transactions, and Automated Clearing House (ACH) direct payments. Direct deposit transactions are limited to payroll, Social Security, pension, and government benefits. Offer available to individuals without an existing checking account at KeyBank as of 3/25/11. Offer not available to individuals who have opened a KeyBank checking account in the last 12 months. Employees of KeyBank, its affiliates, and subsidiaries are not eligible for this offer. If you close your account within 180 days of account opening, you will be charged a $25 account early closure fee. Accounts overdrawn or closed as of 9/30/11 are not eligible for this offer. Accounts titled as Trust Accounts, Estate, Non-Individual, and No Access are excluded from eligibility. You must have a U.S. mailing address on 9/30/11 to be eligible. Offer is subject to cancellation without notice and cannot be combined with any other offer. Other miscellaneous charges may apply. MasterCard is a registered trademark of MasterCard International Incorporated.