KeyBank Review 2023
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
KeyBank is best for those who live in its 15-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
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
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.
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.
Overall
KeyBank is a regional bank that offers deposit accounts to residents of the 15 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 15 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 bank products
KeyBank savings overview
The Key4Kids Savings Account charges no monthly maintenance fee, and it’s available to children under the age of 18 when the custodian is a customer of the bank. The account needs to be opened in person at a branch, and the minimum opening deposit is just $10.
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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Having a checking account with KeyBank is required to avoid the $4 monthly service fee on the Key Active Saver account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
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 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.
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.
About KeyBank
Based in Cleveland, KeyBank operates around 1,000 full-service branches in 15 states. It offers CDs, money market accounts, savings accounts and checking accounts.
The regional bank has devoted more than $18 billion in lending and investments to low- to moderate-income clients, and it has invested more than $15 billion in renewable energy since 2010.
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.
