Summary: Headquartered in Cleveland, Ohio, Keybank is one of the largest banks in the United States with assets of more than $187 million. It operates 953 branches in 16 states: Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Oregon, Pennsylvania, Pennsylvania, Utah, Vermont, Vermont and Washington.
KeyBank offers three checking accounts for individual banking clients:
Neither the critical smart check nor the useless account of the key bank has monthly maintenance fees or minimum deposits. Meanwhile, the Key Select Checking Account earns interest and offers an annual $100 cash bonus, although it comes with a $25 monthly maintenance fee (can be exempted by meeting certain requirements) and a minimum opening amount of $50.
Key banks offer four types of savings accounts:
The traditional savings account, the main Active Saver, has a $4 monthly fee and a $10 minimum deposit, while the kids' savings account has no monthly fee and a minimum deposit of $10. The minimum open deposit for a money market account is $5,000 and $20 per month.
KeyBank offers CDs with a six-month to 10-year term with a minimum deposit of $2,500. It also has a giant CD that requires a deposit of at least $100,000, ranging from 7 days to 10 years. You can earn up to 4% of APY using KeyBank CDs based on your balance.
KeyBank offers four credit cards with a variety of cashbacks, rewards and privileges. There is also a secured credit card option.
KeyBank has a wide range of loan services including mortgage and home loans, personal loans, as well as line of credit, vehicle loans and student loan refinancing.
KeyBank has a wide range of investment products including IRA, annuity, mutual funds, escrow accounts, education savings plans and health savings investment accounts.
KeyBank sells long-term care insurance and several life insurance types.
In addition to personal banking, KeyBank caters to small business and commercial banking customers.
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KeyBank isn't expensive, but customers should be aware of them.
While there is no monthly fee for the bank’s two checking accounts, the key selection check fee is $25 per month after three months. However, you can avoid this fee by meeting one of the following criteria:
A direct deposit of at least $5,000 is received for each statement period.
In a KeyBank checking or savings account, CD, retirement account, or other investment, the consolidated balance is $15,000 or more.
Become a member of the Key Work Program and receive at least $3,000 in accumulated direct deposits per statement period. ›
KeyBank's standard savings account also has a monthly fee, but it costs only $4 per month. Like the key selection check, this fee is also expected. To skip the fees, you need to have a KeyBank consumer checking account.
There are certain fees for ATM use, overdrafts and other account services:
advantage:
Products and Services Scope: KeyBank's suite of products and services means you may find everything you need, including checking, savings, credit cards, investments and loans.
24/7 Customer Service: KeyBank offers 24/7 customer service over the phone - or you can chat online with representatives via the mobile app.
Extensive branch and ATM networks: KeyBank has over 900 branches and has access to over 40,000 KeyBank and Allpoint ATMs.
shortcoming:
High minimum deposits for certain accounts: Minimum deposit requirements for CD and money market accounts are relatively high, which can be incredible for initial savers.
Monthly maintenance fees for certain accounts: Several accounts come with monthly maintenance fees. In addition, there are other fees that need to be paid attention to, such as ATM fees, overdraft fees and wire transfer fees outside the network.
Low savings rate: You can find higher savings rates elsewhere, especially in online banking. As of this writing, KeyBank's Active Saver account earns only 0.01% interest.
There are several ways to access KeyBank customer service, including the 24/7 customer service telephone line. You can also access support by calling the specific phone number listed on the KeyBank contact page, depending on the product or service you need help with. Here are some useful numbers:
If you are an existing KeyBank customer, you can log in to your online account to access Mykey, a virtual assistant tool. This service can even connect you to a customer service professional in the next few days and hours:
Monday to Friday, 7:00 a.m. to midnight ET
Saturday and Sunday, 8:00 to 9:00 AM EST
Finally, you can access the Keybank branch for in-person support. Use the bank's locator tool to find the nearby branches.
For easy banking on the go, KeyBank offers mobile apps in the Apple App Store and Google Play Store. These two versions received high ratings of 4.7 and 4.6 for 5 stars, respectively. In addition to accessing your account and customer service 24/7, the app can also set account alerts, lock and unlock cards, payment bills, transfer payments, deposit checks and more. The app also enables biometric login for convenience and security.
The page on KeyBank's website emphasizes its dedication to sustainability. Specifically, KeyBank announced several environmental goals in 2022 and is working toward them. So far, the bank has funded $10 billion of its $38 billion target to support addressing environmental causes of climate change. By 2030, it has also reached a nearly halfway point in becoming carbon neutral and has joined the Carbon Accounting and Financial Partnership (PCAF).
Read more: What is sustainable banking?
KeyBank is headquartered in 127 Public Square in Cleveland, Ohio, 44114.
You can arrive at KeyBank Customer Service at any time on the 24/7 telephone line at 1-800-539-2968.
Yes, KeyBank is FDIC insured (Certificate #17534). This guarantees your deposit up to $250,000 to avoid bank losses.
Several route numbers for KeyBank vary by state. If you have a KeyBank account, you can find your routing number in your online account, or by looking at the first set of numbers in the lower left corner of the check. You can also consult KeyBank's routing number list by state.
Some of KeyBank's biggest drawbacks include high minimum deposit requirements and fees, especially monthly maintenance costs and off-network ATM fees. Additionally, you can find higher savings account interest rates elsewhere.
Unlike a credit union, you must be eligible for membership, and usually anyone can use KeyBank. Some accounts may have some restrictions - for example, you must be of the majority of age to open an account yourself, and your child's account has age restrictions.
Sometimes, banks may offer cash bonuses for opening new accounts. At the time of writing, KeyBank offers a $300 bonus to qualify new clients through a key Smart Checking account. To receive this bonus, you must deposit at least $1,000 of eligible directly within 60 days of opening an account. This offer will expire on March 21, 2025.
Read more: New Bank Account Promotion Today: Earn up to $3,000