Consumer complaint received 2019-03-27
Company: KEYCORP
State: ID
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
I opened a checking account with Key Bank online on XX/XX/XXXX. At opening, I used code XXXX, which promised to give me {$300.00} after direct depositing {$500.00} and making XXXX qualified debit card transactions within 60 days after account opening. Partial text from the account agreement disclosure is : " OFFER IS AVAILABLE TO CLIENTS WHO DO NOT HAVE OR HAVEN'T HAD A KEYBANK HASSLE-FREE ACCOUNT, OR A KEYBANK CHECKING ACCOUNT WITHIN THE LAST 12 MONTHS. MAKE A DIRECT DEPOSIT OF AT LEAST {$500.00} AND A COMBINATION OF FIVE DEBIT CARD AND/OR BILL PAYMENTS WITHIN 60 DAYS AFTER ACCOUNT OPENING TO GET {$300.00}. DIRECT DEPOSIT TRANSACTIONS ARE LIMITED TO : PAYROLL, SOCIAL SECURITY, PENSION AND GOVERNMENT BENEFITS. LIMIT ONE GIFT PER  QUALIFYING ACCOUNT. " By the end of XXXX, I have made {$1000.00} in direct deposits and 7 debit card transactions, however Key Bank refused to give me bonus stating that deposit must be single. I complained to CFPB with the reasonable explanation that no word " Single '' is used in the text of the advertisement attached to the agreement signed by me and bank can not voluntary interpret text of the conditions ( CFPB complain # XXXX ). Key Bank refused to admit its fault, stating that " We have confirmed, on XX/XX/XXXX, you opened a Key Express Checking account thru key.com. During your account opening you entered the marketing code of XXXX. Pursuant to your request your account was successfully opened. During the account opening, you agreed to the stipulations set forth within the marketing material ( copy enclosed ). In regards to your Account ending in XXXX, the required combination of five ( 5 ) debit card and or Bill Payment transactions were fulfilled within the 60 days of account opening. We confirmed a Direct Deposit of {$500.00}. Was completed on XX/XX/XXXX, which was greater than 60 days from the account opening date. For your review, I have enclosed a copy of your last three ( 3 ) monthly statements. 
Subsequently, the Account did not qualify for the {$300.00} premium. We found no bank error, any request of monetary credit was denied. '' 1 ) Key Bank in its reply substituted the reference to the official text of the offer XXXX disclosure attached to the agreement with reference to some advertisement which I even did not see and which was not part of the agreement between me and bank. 
2 ) There is no text in the agreement between me and Key Bank that offer XXXX has hidden part with more detailed information in the form of advertisements distributed somewhere. 
3 ) Official text of XXXX says that " MAKE A DIRECT DEPOSIT OF AT LEAST {$500.00} AND A COMBINATION OF FIVE DEBIT CARD AND/OR BILL PAYMENTS WITHIN 60 DAYS AFTER ACCOUNT OPENING TO GET {$300.00}. ". This text does not limit the direct deposit to single or to multiple, especially considering next part of the official advertisement " DIRECT DEPOSIT TRANSACTIONS ARE LIMITED TO ... ", indicating that there could be multiple transactions. 
4 ) For example, this is how other banks are writing clear and non-ambiguous offer disclosures : " Within 150 days of your account open date, receive a cumulative monthly total of {$3000.00} in qualifying direct deposits to the checking account opened for this bonus offer for three consecutive months. '' 5 ) Key Bank offer is a bait and switch fraud, when official offer disclosure is made vague and bank refuses to pay bonus for using client 's money supporting its decision by marketing materials having nothing to do with official agreement. 

I do hope that Key Bank reconsiders its decision and issues bonus for using my money as promised.

Company response to consumer: Closed with explanation