KeyBank Review
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Edited by
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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 AppHighlights:
CDs
Checking
Savings
MMA
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
These are sponsored offers rated highly by us for competitive rates, fees, and minimums.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Offers featured here have been sponsored which impacts how, where, and in what order the products appear. Not all offers are displayed on this page.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
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
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KeyBank operates around 1,000 bank branches in 16 states.
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Customers have fee-free access to more than 40,000 ATMs.
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A wide variety of CD terms is offered.
Cons
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You can find higher rates on deposit products elsewhere.
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Many other banks require lower minimum deposits on CDs and money market accounts.
KeyBank banking products
KeyBank savings overview
Pros
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You only need $10 to open either of the savings accounts.
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The Key Active Saver account can be opened online or at a branch.
Cons
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The APY is well below the national average.
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Owning a KeyBank checking account is required to avoid the $4 monthly service fee on the Key Active Saver account.
KeyBank CD overview
Pros
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KeyBank offers a wide selection of CD terms.
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Jumbo CDs are available.
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Some competitive promotional rates are available.
Cons
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You’ll need at least $2,500 to open a CD.
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You can find more competitive rates for non-promotional terms elsewhere.
KeyBank money market overview
Pros
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The account comes with unlimited check-writing privileges.
Cons
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You can find higher yields elsewhere if you shop around.
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The minimum amount required to open the account is high.
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The requirements to avoid the monthly maintenance fee are steep.
KeyBank checking overview
Pros
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Key Smart Checking doesn’t charge a maintenance fee.
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You only need to deposit $10 to open the account.
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You can use more than 40,000 ATMs across the country for free.
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There’s no NSF fee.
Cons
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Key Smart Checking charges $3 for out-of-network ATM transactions.
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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
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.
