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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.
- Lenient overdraft protection options
- Large ATM network
- Focus on the community
- Low interest rates on deposit accounts
- Limited service area
- Some monthly fees
Featured Reviews
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
- 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
- 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
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%.
Loans
Credit cards
Investments and insurance
Small business services
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.
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- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
KeyBank Company Information
- Company Name:
- KeyBank
- Website:
- www.key.com
