Regions Bank vs KeyBank vs Capital One – $200 Checking Account Promotions Compared

Woman stitting at desk opening new bank checking account onlineFor most consumers, having a checking account is a necessary part of money management. With features like free direct deposit of earnings, bill pay options, and ATM access, a checking account is often used for a variety of life’s inevitable financial moves. However, not every checking account is created equal. Currently, three attractive promotions are taking place for consumers looking to make a change with their checking account, from Regions Bank, KeyBank, and Capital One. Before you sign up for one or the other, let’s take a look at how each checking account promotion stacks up to the next.

Quick Comparison Chart

Account Bonus Deposit APY Availability Promo Code Expires
$50 0.01% Invite/
KeyBank $300 $500 0-0.10% Anyone EDGT0417 6/30/17
Capital One
$200 $250×2 0.20-0.90% Invite Only PLUS200 6/30/17

Regions Bank – $400 / $200 Bonus

Regions Bank logoFrom now through June 30, 2017, Regions Bank is offering up to a $400 bonus for individuals who open a LifeGreen checking account and meet certain qualification criteria. First, the offer is only available to those who do not currently have a Regions checking account, or those who opened a new checking account with the bank on or after February 1, 2017. The bonus cannot be combined with any other Regions Bank offers, and is only made available to people that have received a personal code by post mail or email, and only one per physical mailing address. If you never received an invitation, you can still get a $200 bonus by using promo code 200D17Q2.

To receive the offer, individuals must also enroll in online statements through Regions Bank no more than 30 days from the date of account opening. Additionally, a Regions Visa CheckCard must be accepted with the new checking account, and at least ten purchases must be made with the card within 30 days of account opening. The LifeGreen checking account requires a $50 initial deposit, and there may be a monthly account maintenance fee charged. Currently, the LifeGreen checking account pays an APY of 0.01%.

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Individuals who are interested in learning more about the Regions Bank checking account promotion can do so by visiting the bank online. The application must also be submitted online to qualify for the bonus.

KeyBank – $300 Bonus

KeyBank logoKeyBank is also offering a checking account promotion from now through June 30, 2017, but with a bonus offer of $300. Individuals who open a Hassle-free checking account with the bank are eligible to receive the cash bonus so long as one direct deposit of at least $500 is made within the first 60 days after accounting opening. Payroll deposits, social security, pension, or government benefits qualify as a direct deposit with KeyBank.

Those who open a new checking account with KeyBank only qualify for the promotion if they have not established a checking account with the bank in the last 12 months. The offer is limited to those who live in Ann Arbor, Michigan, Alaska, Cincinnati, Columbus, Toledo, or Dayton, Ohio, Idaho, Indiana, Maine, Utah, and Vermont. So long as the criteria are met within the stated time frame, KeyBank will deposit the $200 cash back bonus into the established checking account in 90 days. It’s important to note that if the account is closed within six months, KeyBank will assess a $25 early account closure fee.

Individuals can use offer code EDGT0417, or request the promotion code via e-mail on the KeyBank site. It should be noted there is another well-publicized KeyBank checking account promotion that is virtually the same, but only provides a $200 bonus when offer code ONAS0417 is used.

Capital One – $200 Bonus

Capital One logoCapital One is also joining the checking account cash back bonus game by offering a $200 bonus when a new 360 checking account is established by June 30, 2017. However, only individuals who receive an e-mail or mailer with the correct promotion code are eligible for the offer. When an offer does arrive, only those who have never established a Capital One 360 checking account are eligible. Additionally, two direct deposits of at least $250 are required within the first 60 days after account opening. Similar to KeyBank, Capital One accepts pension payments, Social Security, government benefits, and paycheck deposits from employers are qualifying direct deposits.

So long as the direct deposit requirements are met, Capital One pays the $200 cash back bonus to the 360 checking account within 90 days after account opening. At this time, there is no early closure fee, account maintenance fees, or minimum initial deposits required to open a Capital One 360 checking account.

Individuals interested in the checking account bonus from Capital One can learn more by visiting the bank online, although only those who receive a direct invitation via e-mail or mail are eligible to apply.

Posted on May 15, 2017 by in Personal Finance, , ,

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