KeyBank Reviews

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Overall Rating
3.0 out of 5
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About KeyBank

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KeyBank is a financial institution that has over 1,000 branches in 15 states, providing a range of banking products and services. KeyBank says it is committed to corporate responsibility and sustainability, investing $40 billion in community benefits, including affordable housing, small businesses and renewable energy. Customers have access to more than 40,000 free ATMs through the KeyBank and AllPoint networks.

Pros & Cons


  • Lenient overdraft protection options
  • Large ATM network
  • Focus on the community


  • Low interest rates on deposit accounts
  • Limited service area
  • Some monthly fees

Bottom Line

KeyBank’s services include checking and savings accounts, loans, credit cards, investment services and insurance products. While its savings accounts have low interest rates, its various checking account options make it suitable for a wide range of customers.

Featured Reviews

Denver, CO

I was handling the affairs of a family member who had passed away, and had trouble at every turn, until I entered Key Bank Southwest Branch! Christine ** and Deborah ** provided a...

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New Eagle, PA

I enjoy banking with Key Bank. The tellers are very nice. The hours are constant for me. Saturday hours are a plus. They are about 2 miles from my house. I use the night drop when...

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What is KeyBank?

Headquartered in Cleveland, Ohio, KeyBank is one of the top 20 largest financial institutions in the U.S. by asset size. It operates over 1,000 branches in these states:

  • Alaska
  • Colorado
  • Connecticut
  • Idaho
  • Indiana
  • Massachusetts
  • Maine
  • Michigan
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Utah
  • Vermont
  • Washington

KeyBank says it is committed to corporate responsibility and sustainability, with a focus on supporting local communities and promoting financial inclusion. Through its Community Benefits Plan, it has pledged to invest $40 billion in community benefits — $36 billion for economic access and equity and $4 billion for renewable energy and sustainability.

How does KeyBank work?

To open an account at KeyBank, you'll need to provide personal identification, such as your Social Security number and a valid government-issued ID. You'll also need to make an initial deposit, which varies by account type.

KeyBank offers several checking and savings account options, certificates of deposit (CDs), loans, credit cards and investment services. As a customer, you can access your accounts through the KeyBank mobile app or online banking platform, in person at a branch or at over 40,000 free ATMs.

KeyBank is insured by the Federal Deposit Insurance Corporation (FDIC), which means that deposits up to $250,000 are insured by the federal government in case the bank fails.

KeyBank products and services

With KeyBank, customers can open these accounts:

Checking accounts
KeyBank offers five different checking account options:
  • The Key Smart Checking account is designed for those who prefer online banking and mobile access, with no minimum balance requirement and no monthly maintenance fees.
  • The Key Advantage Checking account offers additional benefits such as earned interest and discounts on checks.
  • The Key Privilege Checking account provides even more benefits, including $6 in monthly ATM fee rebates.
  • The Key Privilege Select Checking account comes with preferred rates and unlimited ATM fee rebates.
  • The KeyBank Hassle-Free Account is for those who may have had trouble opening a checking account in the past. It has no minimum balance requirement, no overdraft fees and no monthly maintenance fees.
Savings accounts
Overall, KeyBank’s savings accounts have lower interest rates than online banks. So if maximizing your earnings is on your list of goals, you might want to open an account somewhere else.
  • Key Active Saver is a straightforward savings account that’s free when paired with a KeyBank checking account. But it only earns 0.01% annual percentage yield (APY) at publishing.
  • Key Select Money Market Savings earns up to 2.02% APY at publishing. But you need at least $5,000 to open an account and $25,000 to earn the highest interest rate.

KeyBank also has a KEY4KIDS Savings Account for children under age 18 and a health savings account (HSA) for adults with a high deductible health care plan.

Certificates of deposit
KeyBank has short-term and tiered-rate CDs with terms starting at seven days and going up to 10 years. Most CDs require a $2,500 deposit, which is steeper than CD minimums at other banks. KeyBank’s jumbo CDs require a $100,000 minimum deposit.

You’ll lock in the best interest rates with a 13-month CD, which earns up to 3.75% APY at publishing. Other CD terms earn around 0.05%.

KeyBank’s loan products include several types of mortgages, home equity loans and lines of credit, auto loans, personal loans, home improvement loans, student loan refinancing and more. The bank also has borrower assistance programs and calculators to help customers estimate costs.
Credit cards
KeyBank’s credit card options include a rewards card, a cashback card, a low-annual percentage rate (APR) card and a secured card for establishing or rebuilding credit.
Investments and insurance
KeyBank provides investment services and insurance products to help its customers manage and protect their wealth. Its investment services include retirement accounts, investment management and education savings plans. Its insurance products cover life and long-term care.
Small business services
Small business owners can find a full range of banking products at KeyBank, including several checking accounts, savings accounts, CDs, credit cards, loans and lines of credit. However, most of its checking accounts have monthly transaction limits and its savings accounts have below-average interest rates compared to online banks.

KeyBank fees

Most KeyBank accounts have monthly fees, but customers can avoid these fees by maintaining a minimum balance or having an established relationship with the bank. This typically includes having a KeyBank checking, mortgage or investment account.

Unlike most banks, KeyBank doesn’t charge overdraft fees for amounts of $20 or less. You can avoid fees for overdrafts over $20 by linking a KeyBank savings account, credit card or line of credit from which funds can be withdrawn to cover the overdraft.

KeyBank also charges these fees, depending on your account:

  • $3 for non-KeyBank ATMs
  • $5 for international ATMs
  • $20 for each overdraft over $20
  • $20 for incoming wires
  • $30 for domestic outgoing wires
  • $45 for international outgoing wires

KeyBank FAQ

Where is KeyBank available?

KeyBank is available in 15 states across the U.S., primarily in the Midwest and Northeast regions.

How much money do I need to open a bank account at KeyBank?

The amount of money needed to open a bank account at KeyBank varies based on the type of account, but some accounts can be opened with as little as $10.

What documents do I need to open a KeyBank bank account?

To open a bank account at KeyBank, you'll typically need to provide a government-issued ID, such as a driver's license and other personal information like your Social Security number and proof of address.

What is KeyBank’s Zelle limit?

The KeyBank Zelle limit for transfers is $1,000 per day, which is in line with the limits set by other banks for the peer-to-peer payment service.

Is KeyBank legit?

KeyBank is a legitimate financial institution. It’s a member of the FDIC, which means that deposits up to $250,000 are insured by the federal government. This can provide peace of mind for customers who are concerned about the safety of their money.

As for whether KeyBank is the best choice for you, that depends on your specific financial needs and preferences. KeyBank offers a range of banking services, including checking and savings accounts, credit cards, loans and investment products. If you’re looking for a regional bank with branch access, it might be a good choice. But if you’re looking for a savings account with a high interest rate, you might want to shop around.

KeyBank Reviews

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Page 1 Reviews 0 - 10
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Customer ServicePunctuality & Speed

Reviewed Dec. 4, 2023

This isn't a bank. It's a place that takes your money and keeps it hostage. Only was with them for a month and they froze my account without even telling me and the bills I paid they stopped the payments and I got charged late fees and the so called bank never refunded anything that I got charged for. When I finally got a hold of someone to find out why my account had been locked/frozen they told me they suspected fraud. So I went to the local branch and we went over everything they suspected fraud with. They came up with six withdraws of fraud. I had to write down and explain what every withdraw was for and here's the kicker. They made me go get it notarized in which I was charged 5.00 for that. Days go by and didn't hear nothing so I called and was told that they wanted to see my truck loan statement from my other bank. I told them to shove their account up their **.

It's been over two months now and I still didn't receive a check for what's in my frozen/locked/closed account. Called this morning and was told I should receive a check in 10 to 15 business days. I also asked about my zelle account. It needs to be closed on their side so I can use it with my new bank account. Their response to that was I must go into their branch to have it done. No one should have to go out of their way for their own money. This bank put me through the ringer the last two months not to mention I had to rush around for another bank because my direct deposit from my job was gonna be denied from the frozen/locked account. Did I mention there was never any fraud found anywhere in my account. If this bank gotta worry about fraud that much and don't have a security to catch it then they shouldn't be in business. I live paycheck to paycheck like most people and we shouldn't have to worry about where our money is going.

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Reviewed Nov. 22, 2023

Thieves. You're really going to keep my $7k+ for 7 days? Who does that. Thieves, that who. Next time somebody deposits a check, please let them know you will be holding it hostage for 1 week so they don't use that money. Especially right before Thanksgiving.

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    Reviewed Oct. 13, 2023

    Opened up a checking account because Keybank was offering a $200 bonus if I deposited $500 within the first 60 days. I made a deposit of $375 on Wednesday and another of $125 on Friday…$500 right! Keybank told me I didn’t qualify for the bonus because the $500 deposit wasn’t made all at once?! Closed my account on the spot! Avoid this bank if you value your time and money.

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    Customer ServiceEase of Use

    Reviewed Sept. 17, 2023

    I applaud KeyBank for ease of use of their online banking service, especially the use of keeping login simple with security questions rather than an annoying "code" to be sent to one's cell phone! I hope this trend continues.

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    Reviewed Sept. 14, 2023

    When I had a debit card they didn't let me know I went $2.00 over the spending amount until they added fees for a total of $750.00. 2 times they locked me out of my online account for 24 hours and made me change my password because they felt like it. I went for a $10,000 loan, having over $50,000 in the bank and they said NO? When I got an annuity they tricked me into signing a form so they could get full control of all my money (1,000's of $$$$) when I pass away! When I went to withdraw money, they refused to give me the funds in cash, they insisted I take a check? I do NOT trust them with any of my money, nor would I recommend them!!

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    Sales & MarketingStaff

    Reviewed Sept. 7, 2023

    Laurel Road is a scam. I reach out to Key Bank and Dianne from fraud team helped me out. Very professional. I highly recommend her outstanding service.

    Stay away from Laurel Road. They will hold your money for a long time.

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    Reviewed Aug. 22, 2023

    I opened Savings account online using a promotional code that I received by email from Keybank. I then contacted Keybank through chat to confirm my eligibility for the offer. Kaylee from Keybank confirmed meeting all the requirements and attached note to the account referring the promotional code. I contacted Keybank after more than 90 days to follow up on the reward and Lindsay in chat refused to process the rewards saying that the promotion was not used when the account was opened.

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    Customer Service

    Reviewed July 23, 2023

    Stay away from KeyBank. Worse customer service ever and. They holding to my funds and not releasing it to me. Can't get help and no one is actually trying to explain why they are doing this. Worse bank ever.

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    Punctuality & Speed

    Reviewed May 24, 2023

    I would give zero stars if I could. They put a hold on a mobile deposited check. 500 bucks. Called over 10 people with customer service and the banks themselves. Zero help. No reason for the hold. My boss said they took the funds from her BECU account the day after I deposited the check. No one knows why they are holding it. They said 9am next day deposit. Then it said May 22nd. Then May 26th. Still nothing. They claim they can't cancel it. I couldn't buy food or pay bills that are now late. Once it deposits I will be closing my account. This bank is horrible. Zero problems for almost 4 years. Until they stole my money. Wow.

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    Customer ServiceStaff

    Reviewed April 16, 2023

    My secured credit was 39.00 over limit 339.00..I transfer 65.00 from my KeyBank checking to KeyBank credit card. It showed me available balance of 20 something bucks. 10 minutes later I transferred 170.00 to credit card the same way, it showed my available balance 194.00. That night I purchased food for 24.50. The next day trying to get a hat and gas, my card was declined saying no available balance and deposits still pending. How was I able to buy food last night if that was so.. Keybank didn't know anything, I talked to 3 different people with 3 different answers and I still didn't get it resolved. Had to call a buddy up to loan cash for gas while stuck at the station..First thing Monday I'm switching to another bank and use their services..A bank that can solve problems.

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