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Compare KeyBank products: Savings, Checking, and CDs
A regional bank with 20+ checking and savings accounts for individuals and businesses.
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What banking products does KeyBank offer?
How does KeyBank compare to other banks and services?KeyBank is a regional bank headquartered in Cleveland, Ohio. It manages $145 billion in assets and offers a range of consumer and business banking products as well as mortgages, loans, credit cards, investments and insurance.KeyBank has 1,200 branches and over 40,000 KeyBank and AllPoint ATMs. It serves customers throughout 15 states:
- New York
- Several options. KeyBank offers nine personal and business checking account options, giving you the freedom to choose an account that suits your needs.
- EasyUp feature. Enable this feature and have $1 transferred from your checking to savings every time you use your debit card, allowing you to accomplish your savings goals even faster.
- High cash deposit limits. Unlike other banks that have low deposit limits, KeyBank allows business owners to deposit up to $25,000 in cash deposits monthly across all business checking account tiers.
- Monthly fees. Almost all of KeyBank‘s checking accounts have monthly fees ranging from $5 to $50. But you can avoid them when you meet certain requirements.
- Expensive overdraft fees. If you don’t have a linked savings account, expect to pay $38.50 for overdrafts, up to five times per day. If your account is overdrawn for more than five consecutive business days, you’ll pay an additional $28.50 fee.
- Low interest rates. KeyBank has three interest-bearing checking accounts, but they only earn 0.01%. You’ll find much higher rates at other banks.
- Low opening deposits for savings accounts. Open most KeyBank savings accounts with as little as $10.
- Specialized options. KeyBank offers health savings accounts for those with a high deductible healthcare plan and kids savings accounts for children under age 18.
- Promotional and relationship rates. Many savings accounts offer promotional rates for first-time customers and relationship rates for existing customers with more than one account.
- Low interest rates. KeyBank has a few accounts with 0.12% APY, but most rates are around 0.01%.
- High opening deposits for money markets. You’ll need $25,000 to open a Key Gold Money Market Savings account and at least $5,000 to open a Key Silver Money Market account if you want to earn the promotional rate.
- Monthly fees. Expect to pay anywhere from $2.50 to $18 a month to keep your savings with KeyBank unless you can meet the minimum requirements to waive the fee.
- Flexible terms. KeyBank gives you the ultimate flexibility with terms ranging from one week to 10 years.
- Accessible interest. If you open a CD with a term longer than six months, you can withdraw the interest each month without penalty.
- Three CD types. KeyBank offers short-term CDs, tiered CDs and jumbo CDs.
- High opening deposit. You’ll need at least $2,500 to open short-term and tiered CDs and $100,000 to open jumbo CDs.
- Low interest rates. KeyBank‘s CD rates are well under 1%. With rates this low, you’re better off keeping your money in a high-yield account with an online bank.
- Early withdrawal penalties. Like most CDs, you’ll lose anywhere from 7 days’ to 12 months’ simple interest if you need to access your money before maturity.
- Plenty of customer service options. Reach a representative in-person at a local branch or by phone, Twitter or live chat support.
- HelloWallet feature. Earn higher interest rates when you use HelloWallet to develop good money management habits and increase your Financial Wellness Score.
- Wide product selection. KeyBank offers 20+ bank accounts for business and personal, plus credit cards, insurance, loans, mortgages and more.
- Large ATM network. KeyBank has just over 1,200 branches and 40,000 ATMs.
- Limited support window. Customer service is only available during the weekdays, so you can’t chat with someone on the weekends if you need assistance.
- Small service area. KeyBank is a regional bank that services 15 states, so it’s not accessible to everyone.
Compare KeyBank to the competition
Get in touch with KeyBank customer service by:
- Calling 888-539-1107 weekdays from 8 a.m. to 5 p.m. ET.
- Visiting a local branch.
- Starting a live chat weekdays from 7 a.m. to midnight ET and weekends from 8 a.m. to 9 p.m. ET.
- Filling out the Request a Call form through the website.
- Tweeting @KeyBank.
- Sending a Facebook message to KeyBank.
Bottom lineKeyBank has locations in 15 states across the Northwest and Northeast. If you live in its service area and are looking for a local bank, KeyBank may be a good fit. But its interest rates are average.
If you prefer a bank with a broader service area and higher interest rates, you’ll want to keep looking. As always, compare your options when looking for a bank.
Frequently asked questions
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