The KeyBank Pay It Forward Program offers current customers a $50 bonus for referring your friends to open a new checking account.
Plus, your referrals will earn a $100 bonus when they open a new checking account, so everybody wins.
Offer Change as of January 3, 2015: The previous requirements for both parties to qualify for the referral bonus were that the new customer makes 1 direct deposit of $500 or more within 60 days. However, the offer has now been changed, so that the new customer must make at least $1,000 in cumulative direct deposits within 60 days for both parties to qualify.
KeyBank accounts are available to residents of the following states: AK, CO, CT, ID, IN, KY, ME, MI, NY, OH, OR, UT, VT, or WA.
KeyBank Pay It Forward Program
This KeyBank Referral Program is available between January 3, 2015, and March 27, 2015.
For each person that you refer through the Pay it Forward program, you’ll earn $50 when your referral completes the following activities:
1. Opens a qualifying checking account.
2. Makes at least $1,000 in cumulative direct deposits within 60 days of account opening.
Your friend will also get $100 once they meet the requirements.
How To General Referral Coupons
Qualifying current customers who are referrers must generate a referral coupon through KeyBank online banking.
The code printed on the coupon is unique to that person and each code can only be used once.
The referrer must provide the code to the referee to use when opening a new account.
When the referee uses the code to open a new checking account, the referral bonuses will be activated.
If you are a qualified referrer, you should be able to find the Pay It Forward information within your KeyBank online account.
When you are logged in to your online banking, there should be a box that says “refer a friend get $50,” and you just click on it to get the process started.
KeyBank Referral Program Details
Employees of KeyBank, its affiliates, or subsidiaries are not eligible to receive the $50 referral bonus.
If you receive referral gifts totaling $600 or more, the value of your gifts will be reported on Form 1099-MISC.
Between January 3, 2015, and March 27, 2015, the new client that you refer must meet the offer stipulations in order for you to receive your referral gift of $50.
Your gift will be deposited into your account within 90 days of the referred new client meeting all requirements.
Accounts titled as Trust Accounts, Estate, Non-Individual, and No Access are excluded from eligibility.
New accounts opened from the same mailing address as the referrer are excluded from eligibility.
Share KeyBank Referrals
If you are a current KeyBank customer with access to the referral program, please feel free to share your contact information and/or your referral codes in the comments section below this article.
KeyBank Checking Bonus for New Customers
There is also a KeyBank $200 Personal Checking Account Promotion that is available to new customers if you don’t sign up through a current customer’s referral code.
Take advantage of the KeyBank Pay It Forward Program to earn $50 for referring new customers and help your friends earn a $100 new account bonus.