KeyBank Key Active Saver Account Review

KeyBank Key Active Saver Account is offered by KeyBank National Association, a bank founded in 1929 and based in Cleveland, OH. KeyBank Key Active Saver Account is available in 15 states across the USA.

• Low APY. The maximum annual percentage yield for this account is only 0.01%.
• $0 monthly Service Charge available. This account charges a monthly service fee of up to $4, but there are ways to waive the fee.
• Small minimum initial deposit. You only need $10 to open an account.
• No ATM fees. KeyBank Key Active Saver Account does not charge fees on ATM transactions.
• Bill pay. Pay your bills to practically anyone in the United States through KeyBank National Association.

Pros	Cons
Interest-yielding account. Access to physical branches. No charge on incoming domestic or international wire transfers.	No signup bonus. Does not come with a debit card Not FDIC-insured. Only available in 15 states. Higher than average wire transfer fees. Monthly service charge. No ATM access to savings.

Are savings accounts from KeyBank National Association federally insured?

Yes, your KeyBank National Association savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does KeyBank National Association offer a signup bonus?

Keybank savings account doesn't offer a signup bonus.

What is the minimum initial deposit for Keybank savings account?

The minimum deposit to open a Keybank savings account is $10.

KeyBank Key Active Saver Account Minimums

Description
Minimum Opening Deposit	Starting at $10

What APY does KeyBank National Association offer?

Keybank savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Keybank savings account charge?

Keybank savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

• Outgoing domestic bank transfers come with a $30 fee.
• Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Keybank savings account charges a $25 fee for an early account closure. Contact Keybank savings account for more details on what is considered an early closure.

What features and perks does Keybank savings account offer?

This savings account includes the following features:

• Fraud monitoring - Keybank savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - Keybank savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to Keybank savings account?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

How do people rate the customer service and user experience of Keybank savings account?

Overall, Keybank savings account is strongly recommended based on community reviews that rate customer service and user experience.