KeyBank Reviews

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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

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

Stars Rating

  • 13%
  • 18%
  • 8%
  • 3%
  • 58%

Popular Mentions

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    How do I know I can trust these reviews about KeyBank?
    • 4,482,017 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.
    Page 1 Reviews 0 - 10
    Sales & MarketingStaff

    Reviewed July 10, 2024

    I've never seen a bank ran so poor. If you need a bank teller forget it. I've seen people doing two or 3 jobs at the same time cuz of no teller not very helpful or friendly. I came in because someone was trying to scam my account. Same company 3 different times. I told them, "Hey let's open another account new one.." Nope branch manager said that would not help so getting a new card and not fixing the issue I guess all just have them hit my account again... collection of new cards... I was with the same bank 20 yrs no issues... I don't even see the lady anymore who helped me open this account. Big red flag!!

    Customer ServicePrice

    Reviewed July 8, 2024

    If you want your business to survive - find another bank for your business account! I had my accounts debit card hit for over $15,000 in fraudulent charges. Key ignored the max daily withdrawal limit on the account and even paid several overdrawn fraudulent charges. Then they charged overdraft fees and low balance service charges on top of that. This happened almost 2 months ago and I still have no money in my account from the charges even after reporting them within 12 hours. Key will not have your back! Calls for updates get the runaround or are completely indifferent.

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      Reviewed April 6, 2024

      DO NOT USE THIS BANK!!! I cannot stress enough how horrible it is. I opened my account 3 weeks ago and still have received my ATM card. I was promised it today, now told maybe in the middle of next week! And it literally took 6 days to transfer money from one account to another. Horrible!!!!!

      Reviewed Feb. 19, 2024

      I have had good and bad experiences with Keybank but this last one blew my mind! I have a 3000 dollars secured credit card with them. I noticed when I went to my online banking I only had a balance of 20.00 when it should of been 3000. There were no details online to clue me in what happened to my funds, it's wasn't tell. I called. I found out they were holding my money because I owed them for a 3.00 dollar goggle payment. For that reason they held my money!!

      I thought I was defrauded. It bothered the hell out of me because I was out of the country and would be using that money soon! I'm still in disbelief. That's my money they're playing with. That's why they call it a secured credit card! Their ** have nothing to lose!! So for them to give me a heart attack and ruin my day not acceptable. Change that. On another note two times I had fraud committed on my debit card and did not get my money back either time. I'll leave this with a positive note. Two months ago someone tried using my card out of the country and keybank busted them which I was very thankful.

      Customer ServiceSales & Marketing

      Reviewed Feb. 1, 2024

      I tried canceling a fraudulent transaction through Zelle within hours of realizing the scam. After disputing the claim twice and getting the executive office- I was not protected or backed. KB takes NO ACCOUNTABILITY for their partnership with Zelle. I am told, or was given the “excuse” that Zelle is a third party vendor and KB does not work directly with them. Please tell me how a financial institution partners with a vendor that provides no financial protection. I was not advised to call Zelle. I even provided the bank with all the leg work I had done to investigate the fraud. Names, emails, nothing mattered. I guess the message should be- Scammers have at it! You have more protection than the actual customers! 20 year relationship with this bank. OVER.

      Customer Service

      Reviewed Jan. 1, 2024

      Do not bank with Keybank. When I signed up for the account there was no minimum that needed to be in the account and I thought it was a great account to have to use to be able to contribute to my retirement account. My account was closed without my consent. The only explanation I received was that I didn’t use the account for 2 months. No one should dictate how often you use an specific account, especially when I had 3 other accounts I used through them. With the economy, and recently being hospitalized, I haven’t been able to contribute to my retirement account as often so of course there wasn’t any activity. There was no communication from KeyBank about the account needing to used before it was closed at all.

      Reviewed Dec. 22, 2023

      You cannot see a list of transactions on their bank site. Let me repeat: you cannot see an accurate list of transactions on their bank site. That's wild. Even Venmo gives you a better idea of your account. The only way to accurate seeing transactions in your account(s) is to wait for the monthly bank statement. Using their online web portal or even downloading CSV files does not give you an accurate idea of money going in/coming out. In fact deposits are one file, checks are another, and some certain types of transactions will not show on any type of file. Save yourself the headache, and bank with literally anyone else.


      Reviewed Dec. 12, 2023

      We have had a very sad experience with Key, but could not be more delighted to have cut ties. We are a small-town family from Upstate NY. Key appeared to be a bank with local ties that could actually support travel and business beyond the area. In fact, their local staff have been quite friendly. However, their larger low-rent approach to banking business means that they have very very thin security to offer customers. On a trip to Mexico, we were defrauded of $500 in a very obvious scheme (CLIP MX*ALIMENTOS Y BE CIUDAD DE MEX (**)). This was one of nearly a hundred legitimate charges. We caught and reported the event immediately. Key responded like other banks have in our past: they appreciated our responsible reporting and refunded the defrauded amount.

      Some months later, they withdrew the amount stating that we were to blame. No actual logical explanation was ever given. The only logical explanation remaining, then, was that they knew they could gouge their customer and get away with it. I suppose they did, but I will be sure to write as many negative reviews as possible to warn others to stay away. In truth, if there is no way to feel secure against basic fraud, then what actually is secure with Key? Why not take your money elsewhere? That is what we did, and boy are we glad.

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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.

      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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      KeyBank Company Information

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