Alas, another one bites the dust. After a multi-year relationship and almost a thousand dollars back, KeyBank has finally pulled the plug on the Laurel Road digital brand, and with it some of its actually good offerings. Most notably, it’s free-money Loyalty Checking account. Stellar sign-up bonus for starting direct deposit, and monthly direct-deposit bonus. The newly converted accounts are good for absolutely nothing. It was good while it lasted, and it did last surprisingly long.
What made Laurel Road Loyalty Checking special?
- $300 welcome bonus when you open a Laurel Road Loyalty Checking account and make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Loyalty Checking account totaling at least $2,500 within the first 60 days after account opening.
- $20 cash reward for every month you make qualifying ACH direct deposits of $2,500+ each statement during the first 12 months ($240 total), and $10 for every month after that as long as your account is open.
- No minimum to open. No minimum balance. No monthly fees.
The math here is solid
- First year: $300 ($300×1)+ $240 ($20×12) = $540 cash back for opening & maintaining $2,500 direct deposit/month
- Subsequent years: $120 ($10×12) cash back for maintaining $2,500 direct deposit a month
- This amounts to a “boost” for direct deposits of $120 a year ($10×12) for $2,500×12 = $30,000 in direct deposits. This is like a 0.4% match, $10 extra for each $2,500!
Goodbye Laurel Road
While the Laurel Road brand & business was purchased by KeyBank in 2019, it was managed distinctly until March 2026. With formal integration into KeyBank, existing accounts were transitioned and modified, with the Loyalty benefits disappearing fully. While not surprising, it is disappointing. This transition was relatively quick, with customer notification in December 2025, and transition occurring in March 2026. The last bonus for Laurel Road accounts was for the month of February 2026 (received March 2026, just before the transition.)
Key takeaways: Take advantage of the good deals while they’re out there. The best free money doesn’t last forever. So get on it.
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