KeyBank

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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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KeyBank is a traditional bank offering a suite of checking and savings account options for businesses and individuals. But you must live in one of the 15 states it services to qualify for an account.

What banking products does KeyBank offer?

Personal banking

  • KeyBank Hassle-Free Checking account. You can’t write checks, but you won’t pay any monthly fees.
  • Key Express Checking account. This traditional account has no minimum balance requirements and a $6 waivable fee.
  • Key Advantage Checking account. This interest-bearing account requires a $50 opening deposit, but it has a low 0.01% APY on any balance.
  • Key Privilege Checking account. You’ll need at least $25,000 to waive the $25 monthly fee with this interest-bearing account.
  • Key Privilege Select Checking account. Offers a full suite of financial management tools, but it has a $50 waivable fee.
  • Key Student Checking account. Students ages 16 to 24 get reimbursed for up to $6 of non-network ATM fees a month.
  • Key Active Saver account. Use HelloWallet to track your financial health and earn interest rates up to 0.01% depending on your wellness score.
  • Key4Kids Savings account. Kids under 18 can get a jump start on savings with a $10 opening deposit.
  • Key Silver Money Market Savings account. There’s a $50 opening deposit, but you’ll only earn the 0.4% promotional rate if you deposit at least $5,000.
  • Key Gold Money Market Savings account. You’ll get limited checkwriting privileges and you’ll need to deposit at least $25,000 to open the account.
  • Key Short Term CD Accounts. Requires a $2,500 minimum deposit and terms range from seven days up to six months.
  • Key Tiered CD accounts. Interest rates vary based on account balance and loan terms, but you’ll need at least $2,500 to get started.
  • Key Jumbo CD accounts. Requires a $100,000 deposit with terms ranging from seven days to 10 years.
  • HSA. Save for healthcare expenses with this tax-advantaged account with rates ranging from 0.1% to 0.2%.

Business products

  • KeyBank Basic Business Checking account. Ideal for growing businesses, this account has 200 combined free transactions a month.
  • KeyBank Business Interest Checking account. Earns 0.05% to 0.1% interest and has unlimited checkwriting privileges and a $15 waivable fee.
  • Key Business Reward Checking account. Make up to 500 free combined transactions a month and take advantage of discounts on other KeyBank products.
  • Key Business Saver account. Your interest rate grows with your balance, but they peak at 0.02%.
  • Key Business Silver Money Market Savings account. You’ll need a $5,000 deposit to qualify for the 0.05% promotional rate.
  • Key Business Gold Money Market Savings account. Requires a $25,000 minimum balance and has a waivable $18 monthly fee, but promotional interest rates go up to 1.25%.
  • Key Business CDs. Offers short and long-term savings options, but you’ll need to visit a branch to open the account.

Other products

  • Mortgages. Homebuyers can choose from conventional, FHA, Fannie Mae, VA, Jumbo loans and more.
  • Loans. Offers a suite of loans, including business, student, personal, auto loans and lines of credit.
  • Credit cards. Choose from two business and four personal credit cards, including the KeyBank Latitude credit card.
  • Investments. Invest in IRAs, annuities, mutual funds, college savings plans and more.
  • Insurance. Protect your loved ones with life and long-term care insurance through KeyBank.

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:

  • Alaska
  • Colorado
  • Connecticut
  • Idaho
  • Indiana
  • Maine
  • Massachusetts
  • Michigan
  • New York
  • Ohio
  • Oregon
  • Pennsylvania
  • Utah
  • Vermont
  • Washington

Checking accounts

Pros

  • 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.

Cons

  • 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.

Savings accounts

Pros

  • 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.

Cons

  • 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 Savings 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.

CDs

Pros

  • 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.

Cons

  • 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.

Overall banking

Pros

  • 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.

Cons

  • 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

1 - 20 of 21
Name Product Fee Minimum deposit to open Annual Percentage Yield (APY) Offer
BMO Harris Smart Advantage Account
Finder Rating: 4.7 / 5: ★★★★★
Bonus
BMO Harris Smart Advantage Account
$0 per month
$25
N/A
Get a $200 bonus when you open a new Smart Advantage account and have a cumulative total of $4,000 or more in qualifying direct deposits in the first 90 days
Earn a $200 cash bonus after $4,000 deposits in the first 90 days. Pay $0 monthly fees and no minimum balance. Access a large nationwide network of free ATMs.
PSECU checking account
Finder Rating: 4.4 / 5: ★★★★★
Bonus
PSECU checking account
$0 per month
$0
0.20%
Earn up to $300: $100 when you get a savings and checking account and activate your debit card with digital banking within 30 days. $100 with monthly payroll direct deposit of $200+ within 90 days. $100 when you maintain direct deposits for an additional 90 days. Select Level Up Your Banking to see terms and get the promo.
Earn a bonus and 5 or 10 cents in rewards on all eligible purchases. Pay $0 in monthly fees, no overdraft fees and get ATM fee reimbursements.
Axos Bank Essential Checking
Finder Rating: 5 / 5: ★★★★★
Axos Bank Essential Checking
$0 per month
$0
N/A
Pay $0 monthly and overdraft fees, and get reimbursed for domestic ATM fees. No opening deposit or minimum balance requirement. Get your paycheck up to 2 days early with direct deposit.
Upgrade Rewards Checking
Finder Rating: 4.3 / 5: ★★★★★
Upgrade Rewards Checking
$0 per month
$0
N/A
Earn up to 2% cashback rewards on everyday purchases. Pay $0 fees for overdraft, domestic wire transfer and monthly maintenance. Pair with Upgrade’s savings account to earn 3.75% APY. Get up to 20% discounts on Upgrade loans and credit lines.
Chime Checking account
Finder Rating: 4.7 / 5: ★★★★★
Chime Checking account
$0 per month
$0
N/A
Save easily and access your paycheck up to 2 days early with direct deposit. Pay $0 monthly fees, and no minimum balance is required. Access 24/7 support and get daily balance and transaction alerts.
Varo
Finder Rating: 4.7 / 5: ★★★★★
Bonus
Varo
$0 per month
$0
5.00% on balances of $0 to $5,000
3.00% on balances of $5,000+
Earn $30 bonuses every time a friend signs up for an account and spends at least $20 within 30 days
A digital account with a $0 monthly fee, access to 55,000+ free Allpoint ATMs and no minimum balance required. This account gives you access to an optional savings account with yields as high as 5% APY.
Chase Total Checking
Finder Rating: 3 / 5: ★★★★★
Bonus
Chase Total Checking
$12 per month
$0
N/A
New Chase checking customers enjoy a $200 bonus when you open a new Chase Total Checking® account and set up direct deposit.
Chase Total Checking is easy to use and gives you access to 16,000 ATMs and more than 4,700 branches. It offers a $200 signup bonus to new Chase customers
SoFi Checking and Savings
Finder Rating: 4.6 / 5: ★★★★★
Bonus
SoFi Checking and Savings
$0 per month
$0
3.75% on balances of $0+
2.50% on balances of $0 to
Get up to $250 when you open a new account or switch your direct deposit to SoFi checking and savings. In order to qualify for the $250 bonus, you must have $5,000+ in qualifying direct deposits within a month, and to qualify for $50, you must deposit $1,000 to $4,999.99. This offer is available until Jan 31, 2023
Earn 3.75% APY, which is 14X the national average. Get your paycheck up to 2 days early, and earn up to 15% cash back. When you open Sofi, you also get its high-interest savings account that earns APY.
Current
Finder Rating: 4.6 / 5: ★★★★★
Bonus
Current
$0 per month
$0
4.00% on balances of $0.01 to $2,000
You and your friend will receive $50 bonuses once they open a Current Account through your invite link, or applies your referral code, and receives a qualifying direct deposit of at least $200 within 45 days of account opening.
Earn 4% APY on the first $2,000 in each savings pods. Also get budgeting tools, early direct deposit and up to 15x cashback points. All with no monthly fee or opening deposit requirement.
Axos Bank Rewards Checking
Finder Rating: 4.2 / 5: ★★★★★
Bonus
Axos Bank Rewards Checking
$0 per month
$50
1.25% on balances of $0 to $50,000
Use the promo code RC100 when you apply for a Rewards Checking account by 3/31/2023. Then have qualifying direct deposit(s) to earn a $100 welcome bonus!
Earn up to 1.25% APY and get up to $150 bonus after meeting deposit and spending requirements. Get ATM free reimbursements at all domestic ATMs. Pay $0 monthly or overdraft fees.
BMO Harris Premier Account
Finder Rating: 3.4 / 5: ★★★★★
BMO Harris Premier Account
$25 per month
$25
0.01% on balances of $0.01+
Get a $350 bonus when you open a new Premier account and have a cumulative total of $7,500 in qualifying direct deposits in the first 90 days
Explore different relationship packages depending on your balance.
Chase Secure Banking
Finder Rating: 4.2 / 5: ★★★★★
Bonus
Chase Secure Banking
$4.95 per month
$0
N/A
New Chase checking customers enjoy a $100 checking account bonus when you open a Chase Secure Banking℠ account with qualifying transactions. Qualifying transactions include debit card purchases, Zelle®, ACH credits, Chase QuickDeposit℠ or online bill payments. Your bonus will appear in your account within 15 days after completing the qualifying transactions.
Chase Secure Banking offers no overdraft services. New Chase customers may qualify for a $100 signup bonus.
US Bank Smartly Checking
Finder Rating: 3 / 5: ★★★★★
Bonus
US Bank Smartly Checking
$6.95 per month
$25
N/A
New offer: Earn up to $600 when you open a new U.S. Bank Smartly checking account and a Standard savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through February 7, 2023. Member FDIC.
U.S. Bank’s new checking product offers mobile and online banking with no-fee overdraft protection. Member FDIC.
Bluevine Business Checking
Finder Rating: 4.6 / 5: ★★★★★
Bluevine Business Checking
$0 per month
$0
2.00% on balances of $0 to $100,000
No hidden fees: $0 monthly, overdraft, minimum deposit and transaction fees. Get 2 free checkbooks a year. Earn 2% interest on up to $100,000 after qualifying transactions. Organize your business finances with 5 sub-accounts with unique account numbers. Receive secure logins for each team member.
BMO Harris Smart Money Account
Finder Rating: 4.5 / 5: ★★★★★
Bonus
BMO Harris Smart Money Account
$5 per month
$25
N/A
Get a $200 bonus when you open a new Smart Money account and have a cumulative total of $4,000 or more in qualifying direct deposits in the first 90 days
You’ll pay no monthly maintenance fee if you are under 25. It also offers no overdraft charges and no non-sufficient fund (NSF) fees.
Lili
Finder Rating: 4.6 / 5: ★★★★★
Lili
From $0 per month
$0
1.50%
Designed for freelancers, Lili offers a suite of tools including invoicing software, expense reports, write-off tracker, and automated tax savings. Get paid up to two days early with direct deposit and no monthly fees. Lili Pro account holders get cashback rewards, 1.5% APY for savings.
First Citizens Bank Free Checking
$0 per month
$50
N/A
First Citizens Bank Free Checking stands out for its built-in finance tracking tool, Manage My Money. Available to residents in NC, SC, TN, AZ, CA, CO, FL, GA, KS, MD, MO, NM, OK, OR, TX, VA, WA, WV, and WI.
Relay
Finder Rating: 4.2 / 5: ★★★★★
Relay
$0 per month
$0
N/A
Relay is a no-fee, online banking and money management platform. Relay helps you stay on top of cash flow, operating costs and team spending.
Revolut
Finder Rating: 4.5 / 5: ★★★★★
Bonus
Revolut
From $0 per month
$0
2.50% on balances of $0+
Get 3 months of free Revolut Premium trial when you sign up for Revolut. Just make one qualifying transaction of $1.00 or more with your Revolut card during the promotion period. The trial will then be credited automatically.
Revolut is a global fintech that offers FDIC-insured deposit accounts, 10 free international transfers a month and up to 2.5% APY on your savings when you’re a Premium or Metal user.
Yotta
Finder Rating: 4.8 / 5: ★★★★★
Bonus
Yotta
$0 per month
$0
0.20%
When a friend signs up using your invite code, they get 100 tickets into next week's contest. Once they make their first deposit, you also get either 100 free tickets or potentially more if you have reached Silver, Gold, or Platinum status.
Increase your chances of winning up to $10 million in cash prizes every time you spend $10 with your Yotta debit card and for every $25 in your checking account.
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KeyBankcustomer service

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 line

KeyBank 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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