KeyBank National Association is a national bank with headquarters in Cleveland, Ohio. The bank has $93.1 billion in assets and $73.8 billion in deposits. Customers can access their accounts online, at 1009 branches or at one of its 1,287 ATMs. KeyBank is the result of the merge between KeyCorp and Society Corporation 1994. KeyCorp can trace its origins back to 1825, when its founding bank, Commercial Bank of Albany, was founded in New York. KeyBank has a five-star rating with Bauer Financial and an A+ with BBB.
What Are KeyBank’s Checking and Savings Accounts Like?
KeyBank offers four checking accounts: KeyBank Hassle-Free, Key Express, Key Advantage, and Key Privilege.
KeyBank Hassle-Free has a $0 monthly maintenance charge, although customers can purchase a Relationship Rewards membership for $40 if they want. The Relationship Rewards program allows customers to earn points by using the account and purchasing others services from KeyBank. The account includes a free debit card and online bill payments, but it doesn’t bear interest and does not offer paper checks. T
Key Express has a $7 monthly fee, but customers can waive it by either making $500 in deposits or initiating a minimum of eight transactions per month. As well as a free debit card, access to the Relationship Rewards program ($40 annual fee), and online bill payments, it also includes unlimited check writing.
Key Advantage has an $18 monthly service charge but you can avoid it by maintaining a $10,000 combined balance or having a mortgage with KeyBank. The account includes free checks, up to $6 a month in reimbursements for non-Key ATM surcharges, discounts on loans and preferred pricing on CDs. It has a minimum opening deposit of $50 and a maximum APY of 0.02% for balances over $500,000. All other balances receive 0.01% APY.
Key Privilege has a $25 monthly fee, which you can avoid with a $25,000 combined balance, a mortgage with KeyBank. As well as the services and benefits offered by Key Advantage, Key Privilege pays a maximum APY of 0.03% for balances over $500,000. All other balances receive 0.02% APY.
KeyBank has three savings accounts: Key Saver Personal Savings, Key Silver Money Market Savings, and Key Gold Money Market Savings.
Key Saver Personal Savings has a $10 minimum opening deposit and a $4 monthly fee, which is waived if you maintain a daily balance of $300. It’s easy to set automatic transfers and the account can be used as overdraft protection for a KeyBank checking account.
Key Silver Money Market Savings has a $12 monthly service fee for savers who don’t maintain a $5,000 balance or who fail to make a monthly transfer of at least $25. Rates range from 0.04% to 0.1% APY (balances over $500,000). Opening an account generates 5,000 Relationship Reward points.
Key Gold Money Market Savings has an $18 monthly fee for customers who don’t maintain a daily balance of $30,000. The rates range from 0.05% to 0.12% APY. Only customers with a balance of $2 million qualify for the 0.12% APY.
What Are The Advantages And Disadvantages Of KeyBank’s Savings and Checking Accounts?
We love this about KeyBank:
- Wide selection of accounts
- Extensive ATM network
- No monthly fee option
- Relationship Rewards points just for using your accounts
We don’t like this about KeyBank:
- Low interest rates
- Only wealth customers qualify for the higher yield rates
- Minimum deposits
- Monthly fees
127 Public Square
Cleveland, OH 44114 USA
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Other Services by KeyBank National Association
- New York
|Minimum Direct Deposit to Avoid Monthly Fee||$5|
|Minimum Balance to Avoid Monthly Fee||$10|
|Monthly Fee||$0 - $4|
|Paper Statement Fee||$3|
|Early Account Closure||$25|
|Returned Deposit Fee (Domestic)||$37|
|Wire Transfer Fee - Domestic (Outgoing)||$30|
|Wire Transfer Fee - International (Outgoing)||$45|
|Bank Account Features||
|APY||0.01% - 0.1%|