KeyBank is one of the largest banks in the United States, headquartered in Cleveland, Ohio, with over $187 billion in assets. The bank operates an extensive network of 953 branches across 16 states, including Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington. This wide reach makes KeyBank a convenient option for many customers seeking personalized banking services. The bank offers a comprehensive suite of financial products, including checking accounts, savings accounts, CDs, credit cards, loans, investment services, and insurance products, catering to both personal and business banking needs. Whether you’re looking to manage your daily finances, save for the future, or invest in long-term goals, KeyBank provides a variety of tools and resources to help you achieve financial stability and growth.
For personal banking customers, KeyBank offers three checking account options, each designed to meet different financial preferences and needs. The Key Smart Checking and KeyBank Hassle-Free accounts stand out for having no monthly maintenance fees or minimum deposit requirements, making them ideal for those who want hassle-free banking without additional costs. On the other hand, the Key Select Checking account is geared toward customers who want to earn interest on their balances and enjoy additional perks, such as an annual $100 cash bonus. However, this account comes with a $25 monthly maintenance fee, which can be waived by meeting specific requirements, such as receiving direct deposits of at least $5,000 per statement period or maintaining a combined balance of $15,000 across eligible accounts. Additionally, the Key Select Checking account requires a $50 minimum opening deposit. These options allow customers to choose the account that best aligns with their financial habits and goals.
KeyBank also provides four types of savings accounts to help customers grow their savings. The Key Active Saver account is a traditional savings option with a low $4 monthly fee, which can be waived by maintaining a KeyBank consumer checking account. This account requires a $10 minimum deposit to open. For families, the kids’ savings account is a great option, as it has no monthly fees and a low $10 minimum deposit, encouraging young savers to develop healthy financial habits. The money market account, on the other hand, is designed for those who want to earn higher interest rates on their savings, though it comes with a $5,000 minimum opening deposit and a $20 waivable monthly fee. KeyBank also offers CDs with terms ranging from six months to 10 years, requiring a $2,500 minimum deposit. Jumbo CDs are available for deposits of $100,000 or more, offering competitive interest rates, with the potential to earn up to 4% APY depending on the balance and term. These savings options provide flexibility for customers to choose the product that suits their savings strategy and goals.
In addition to its deposit accounts, KeyBank offers a range of credit cards, loans, and investment products to meet diverse financial needs. The bank’s credit card options include cashback rewards, travel perks, and secured credit cards for those building or rebuilding credit. For borrowers, KeyBank provides mortgages, home equity loans, personal loans, vehicle loans, and student loan refinancing options, making it a one-stop shop for various lending needs. Investors can take advantage of KeyBank’s investment services, which include IRAs, annuities, mutual funds, managed investment accounts, education savings plans, and health savings investment accounts. The bank also offers life insurance and long-term care insurance, helping customers protect their loved ones and plan for the future. Whether you’re financing a major purchase, planning for retirement, or ensuring financial security for your family, KeyBank has the products and expertise to support your goals.
One of the standout features of KeyBank is its commitment to customer service and accessibility. The bank offers 24/7 customer service via phone, as well as online chat support through its mobile app, making it easy for customers to get help whenever they need it. KeyBank also boasts an extensive network of over 900 branches and more than 40,000 KeyBank and Allpoint ATMs, ensuring convenient access to banking services across its 16-state footprint. The KeyBank mobile app, available for both iOS and Android devices, allows users to manage their accounts, set up alerts, lock and unlock cards, pay bills, transfer money, deposit checks, and more. The app also supports biometric sign-in, providing an additional layer of security and convenience. For customers who prefer in-person support, KeyBank’s branch locator tool makes it easy to find a nearby location. These features make KeyBank a great choice for customers who value flexibility and accessibility in their banking experience.
While KeyBank offers a wide range of products and services, there are some potential drawbacks to consider. For example, certain accounts, such as CDs and money market accounts, have high minimum deposit requirements, which may be a barrier for newer savers. Additionally, some accounts come with monthly maintenance fees, though these can often be waived by meeting specific criteria, such as maintaining a minimum balance or receiving direct deposits. Another consideration is that KeyBank’s savings account interest rates are relatively low compared to those offered by some online banks. As of the latest data, the Key Active Saver account earns just 0.01% interest, which may not be competitive for those looking to maximize their savings growth. However, KeyBank’s extensive branch and ATM network, combined with its comprehensive product offerings and strong customer service, make it a solid choice for many customers.
KeyBank also demonstrates a commitment to sustainability and community impact. In 2022, the bank announced several environmental targets, including a goal to finance $38 billion in initiatives that address climate change by 2030. To date, KeyBank has already financed $10 billion toward this goal and is making progress toward becoming carbon neutral by 2030. Additionally, the bank has joined the Partnership for Carbon Accounting Financials (PCAF), further underscoring its dedication to sustainable banking practices. For customers who prioritize environmental responsibility, KeyBank’s efforts in this area may be a deciding factor when choosing a financial institution. The bank’s headquarters are located at 127 Public Square in Cleveland, Ohio, and customers can reach KeyBank’s 24/7 customer service line at 1-800-539-2968. As an FDIC-insured institution (Cert. #17534), KeyBank ensures that deposits up to $250,000 are protected in the event of bank failure, providing customers with added peace of mind.
In conclusion, KeyBank is a robust financial institution with a long history of serving customers across the United States. Its extensive product portfolio, combined with its commitment to customer service, accessibility, and sustainability, makes it a strong contender for individuals and businesses alike. While some accounts may have higher fees or minimum deposit requirements, the ability to waive these fees and the variety of financial tools available make KeyBank a versatile choice for many banking needs. With its strong online and mobile banking capabilities, widespread branch and ATM network, and dedication to environmental responsibility, KeyBank continues to be a trusted partner for customers seeking reliable and comprehensive financial services. Whether you’re managing everyday finances, planning for the future, or supporting a cause you care about, KeyBank has the resources and expertise to help you achieve your financial goals.
