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KeyBank Review

Updated April 25, 2025
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At a glance

Overview

KeyBank is best for those who live in its 16-state branch footprint and prefer a regional bank. It offers a full range of deposit products, some of which require low minimum deposits and fees that are easy to avoid.

Highlights:

Free Checking Highly Rated App
3.7
Rating: 3.7 stars out of 5
Bankrate Score
Info Icon

CDs

Rating: 2.6 stars out of 5
2.6 /5

Checking

Rating: 4.5 stars out of 5
4.5 /5

Savings

Rating: 2.6 stars out of 5
2.6 /5

MMA

Rating: 2.4 stars out of 5
2.4 /5
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info Icon
As of 7/12/2025
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: Top-tier rate. FDIC Insured. No fees.
Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info Icon
As of 7/12/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money
Bank logo
FDIC insurance eligibility through Program Banks Wells Fargo Bank, N.A. and or Sutton Bank, Members FDIC
Savings Account
4.00
%
APY
APY
Info Icon
As of 7/12/2025
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: Get up to 4% interest. Must be 18 or older, have a Cash App Card, and deposit at least $300 monthly into Cash App.

Overall

KeyBank is a regional bank that offers deposit accounts to residents of the 16 states where it maintains branches. Customers have access to more than 1,000 branches and 40,000 fee-free ATMs. Checking, savings and money market accounts are available, as well as a wide range of certificate of deposit (CD) terms. But overall, you’ll need to look elsewhere to find competitive rates.

Pros

  • Checkmark Icon

    KeyBank operates around 1,000 bank branches in 16 states.

  • Checkmark Icon

    Customers have fee-free access to more than 40,000 ATMs.

  • Checkmark Icon

    A wide variety of CD terms is offered.

Cons

  • You can find higher rates on deposit products elsewhere.

  • Many other banks require lower minimum deposits on CDs and money market accounts.

KeyBank banking products

KeyBank savings overview

2.6
/5
Rating: 2.6 stars out of 5

Pros

  • Checkmark Icon

    You only need $10 to open either of the savings accounts.

  • Checkmark Icon

    The Key Active Saver account can be opened online or at a branch.

Cons

  • The APY is well below the national average.

  • Owning a KeyBank checking account is required to avoid the $4 monthly service fee on the Key Active Saver account.

KeyBank CD overview

2.6
/5
Rating: 2.6 stars out of 5

Pros

  • Checkmark Icon

    KeyBank offers a wide selection of CD terms.

  • Checkmark Icon

    Jumbo CDs are available.

  • Checkmark Icon

    Some competitive promotional rates are available.

Cons

  • You’ll need at least $2,500 to open a CD.

  • You can find more competitive rates for non-promotional terms elsewhere.

KeyBank money market overview

2.4
/5
Rating: 2.4 stars out of 5

Pros

  • Checkmark Icon

    The account comes with unlimited check-writing privileges.

Cons

  • You can find higher yields elsewhere if you shop around.

  • The minimum amount required to open the account is high.

  • The requirements to avoid the monthly maintenance fee are steep.

KeyBank checking overview

4.5
/5
Rating: 4.5 stars out of 5

Pros

  • Checkmark Icon

    Key Smart Checking doesn’t charge a maintenance fee.

  • Checkmark Icon

    You only need to deposit $10 to open the account.

  • Checkmark Icon

    You can use more than 40,000 ATMs across the country for free.

  • Checkmark Icon

    There’s no NSF fee.

Cons

  • Key Smart Checking charges $3 for out-of-network ATM transactions.

  • Overdraft fees can add up substantially if not paid off quickly.

Bank fees

Fee Charged?
Overdraft fee $20
Non-sufficient funds fee None
Account maintenance fees (if requirements not met) $4 for savings; $20 for money market; None for checking
Out-of-network ATM fee $3
Stop payment $34

Customer experience

Branch and ATM access. KeyBank has more than 1,000 branches in 15 states, and customers have fee-free access to more than 40,000 ATMs nationwide. 

Customer service. Customer service representatives are available by phone to handle banking inquiries Monday through Friday from 7 a.m. to 12 a.m. ET, and on Saturday and Sunday from 8 a.m. to 9 p.m. ET. You can call a local bank branch or use the bank’s website to schedule an appointment with a branch manager in your neighborhood — including to get a financial wellness review.

Well-rated app. Overall, the bank’s app receives favorable reviews from both Android and Apple users. It can be used to check balances, pay bills and set up account alerts and automatic transfers between accounts.

Scored highly for online banking. KeyBank tied for second in mobile app satisfaction for regional banks in J.D. Power’s 2024 Online Banking Satisfaction study.

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Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.