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127 Public Square
Cleveland, OH 44114

KeyBank is one of the largest retail banks in the country and offers an array of products on both its deposit and loan sides. It maintains up-to-date web-based and mobile platforms for easy account management, including online banking via an award winning website. Headquartered in Cleveland, Ohio, it services its customers through a very large network of branches and ATMs.

One of KeyBank’s popular depository products is a reward checking account that often offers a cash bonus for new account openings. It also features hundreds of ‘Tiered’ and ‘Jumbo’ CDs and IRA CDs with various terms and requirements. KeyBank’s checking and savings account offerings usually offer lower than average interest rates. The bank also partners with Quicken to offer financial management solutions to both individuals and businesses.

KeyBank customers can earn Relationship Rewards points by opening a new account or performing everyday banking activities such as Bill Pay, automated debits and credits, and debit card purchases. These points can be redeemed through the KeyBank rewards catalog, which features a variety of products and merchandise. KeyBank online banking provides customers with an easy-to-use system for managing their accounts.

KeyBank was originally organized in 1865 as the National Commercial Bank of Albany. It merged with First Trust and Deposit a century later to become First Commercial Bank before finally changing its name to KeyBank in 1979.

KeyBank’s extensive focus on meeting the credit needs of underserved communities has earned it numerous “outstanding” recognitions by the federal government for its performance in this area. It does this by offering nontraditional banking products and services like low fee check cashing, free financial education, checkless checking, and short-term lines of credit.

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11/16/11 - KeyBank's $150 Checking Account Bonus
8/22/11 - How Should Banks Notify Paperless Statement Customers Of Changes?
7/11/11 - iPod touch KeyBank Checking Account Promotion - Certain States Only
6/8/11 - $150 Checking Account Bonus at KeyBank in Certain States Only
5/12/11 - Free iPod touch with KeyBank Checking Account Promotion - Certain States Only
3/30/11 - Keycorp Repays TARP
9/14/10 - $225 Business Checking Account Bonus At Key Bank
6/28/10 - Free Ipod Touch Checking Bonus At Key Bank: Extended To July 30
5/2/10 - KeyBank's iPod touch Checking Account Promotion
3/2/10 - $150 to $200 Checking Account Bonuses at KeyBank - Only Certain States
10/18/09 - $125 to $225 Checking Account Bonuses at KeyBank - Only Certain States
10/11/09 - $200 Checking Account Bonus at New KeyBank Branches in Colorado - Local Only
10/9/09 - KeyDirect Is No Longer Accepting New Customers
8/17/09 - KeyBank's Garmin GPS Checking Account Promotion
3/29/09 - KeyBank Checking Account Promotion
10/25/08 - $100 Checking Account Promotion at KeyBank - Update
8/20/08 - High CD Rates at KeyDirect and KeyBank - 4.55% 12-Month, 5.50% 48-Month
7/14/08 - iPod nano Checking Account Promotion at KeyBank - Update 2
6/29/08 - 5.25% 48-Month / 4.55% 23-Month CD at KeyBank
6/29/08 - iPod nano Checking Account Promotion at KeyBank - Update
3/30/08 - $100 Checking Account Promotion at KeyBank
1/1/08 - 5.50% 25-Month / 5.30% 7-Month CD at Key Bank in Some States
7/22/07 - iPod nano Checking Account Promotion at KeyBank
6/12/07 - 5.55% to 5.90% on 5 to 10 Year CDs at KeyDirect
2/20/07 - Digital Camera Checking Account Bonus at KeyBank

Key Bank Service Fee

In June 2011, Key Bank began charging a $5 service fee for accounts that do not make at least 5 transactions per month. I was not aware of this change as it was posted in small print on their statement and I do not read that. I maintained two accts at their bank for many years- one main checking acct for all my business where I kept an average balance of $3,000 and a second POA acct for my daughter. The one for my daughter was hardly used. In June, I saw that I was charged a $5 fee on that acct. I called the bank to inquire and I asked that they waive the fee as I was unaware of the change and I was a good customer for so many years. I spoke to a number of customer service people, including a manager and they refused to waive the fee.

I have never experienced such poor customer service at any other bank or institution. I do not recommend doing business with them.

Annoying Practices And Not Small Business Friendly

I have banked with Key Bank for almost 20 years and have found them to be mediocre at best and recently to have gotten signiificantly worse.  As other reviewers of this bank have noted, they have one of the worst and most arbitrary policies regarding funds availability of any bank.  None of their funds availability policies make any sense, and appear to be determined by who you are talking to.  I was closing on a house and had a cashiers check for $100,000 from another bank, which Key Bank said would take 4 days to become available.  The issuing bank told me it should be hours, or at the most 1 day, and said "no bank in the country will hold this over 1 day."  Recently, I brought in a check for $4500 from a mutual fund company with well over $15,000,000,000 in assets.  The Key Bank clerk fumbled around and then gave me a written notice that the funds would be available in 4 business days.

Even worse, they claim to be small business friendly.  Guess again.  After giving a detailed business plan to three business bankers at Key Bank to get a loan to expand my business, including to Key Bank's head of SBA loans in my region, and being told by all three that this was "the best proposal I've seen in a year,"  Key Bank corporate turned it down totally.  I guess, like many banks, they had better things to do with TARP funds then invest it in the expansion of small businesses, including on a proposal that was felt to be "the best in a year" by three of their own business bankers.  None of these three bankers would discuss Key Bank's decision with me (I guess because they were so embarrased by what they had said).  I have a friend who was a senior VP at Key Bank who left them and told me it was the best decision of his life to get out of Key Bank.

Like many national banks, Key Bank is beaurocratic, inefficient, unfriendly, arbitrary, and not conducive to consumers or small business.  Find a different bank.  Maybe companies like this partly explain why the US economy is falling behind. 


Absolute Con Of A Bank

I should have listened. Before my wife and I opened up a Home Equity Line (and corresponding Checking Account), my brother warned me that this bank was not to be trusted.

Odd Quirk Re: Balances
So, you know how, when you receive your statement from your bank, it lists the transaction amount, and your balance? KeyBank won't show you your balance alongside the transaction. This, in itself, is reason enough not to use this bank.

What happened to my brother:
He had closed an account with KeyBank. A few weeks later, an automated deposit had subsequently been sent to his - now closed - account. KeyBank reopened his account without notifying him, then started charging him monthly $10 account fees, until the small deposit was eaten through. Then they started charging him $10 plus overdraft fees. It wasn't until he received notice on the overdraft fees that he had any idea that he even had an open account with them.

What has happened to us:
In the past several months, KeyBank has done everything they can to extract overdraft fees from us, with no improper action on our part.

We have had a recurring deposit from another bank (BECU) into KeyBank to cover the payments to the HELOC. There has never been a problem with the BECU account transfers, and BECU is a highly respected credit union. Recently, they started "holding" our transfers to BECU. They had never done this before, and had no reason to suspect that there were any problems with the account, but in holding the balances, our loan payments overdrafted the checking accounts (two payments per month, two overdraft fees). We've since had all of the fees rescinded, but I'm sure they were hoping that we wouldn't notice, so they'd be able to get us for more fees.

I have absolutely no faith that this bank has my interests in mind, and if it didn't cost thousands of dollars to apply for a loan elsewhere, we would be out of there in an instant.

All Banks Are The Same, But Customer Service Is The Differentiating Point.

Before Key Bank, I had accounts with Alaska USA credit union (whom I still have for savings), Wells Fargo and Chase. Key Bank lacks on certain areas with technology and exceeds within others. The employees in any branch I walk into make me feel welcome and even when I have an issue I don't expect to have solved within the branch, they each go out of their ways to advocate on my behalf to get it solved or send me in the right direction. They have all the convenience and technology of a large bank and have the neighborhood feel of a small bank. Unlike some of the other commentors, I read my disclosures and asked the important question a financially responsible person would ask before opening my account and the bankers always answer honestly and even make suggestions on how to avoid financial issues. I would recommend Key Bank to anyone living within their footprint and think those with negative experiences stop blaming the bank and perhaps look at what THEY did wrong that could've kept them out of the current situation. On a final note, I have banked with many banks and credit unions and I must say Key Bank's fees are low for the market and in some cases are not charged at all compared to larger banks. If you are smart with your money and finances, this bank will do the rest for you!



Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 KeyBank had $620.46 million in non-current loans and owned real-estate with $10.43 billion in equity and loan loss allowances on hand to cover it. This gives KeyBank a Texas Ratio of 5.95% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for KeyBank decreased slightly from 8.16% as of March 31, 2013 to 5.95% as of March 31, 2014, resulting in a positive change of 27.14%.This indicates that the balance sheet and financial strength for KeyBank has improved slightly in recent periods.

Deposit Growth


In the past year, KeyBank has increased its total deposits by $2.87 billion, resulting in 4.3% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth KeyBank has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. KeyBank has $88.16 billion in assets with $10.43 billion in equity, resulting in a capitalization level of 11.83%, which is excellent.

Institution Statistics

FDIC Certificate #17534
Year Established1849
Primary RegulatorOCC
Assets and Liabilities
Assets$88.16 billion
Loans$59.28 billion
Deposits$69.71 billion
Equity Capital$9.57 billion
Loan Loss Allowance$868.02 million
Unbacked Noncurrent Loans$598.44 million
Real Estate Owned$22.02 million
Historic Data - March 2013
Assets$86.75 billion
Equity Capital$9.31 billion
Loan Loss Allowance$942.53 million
Unbacked Noncurrent Loans$598.44 million
Real Estate Owned$25.78 million
Profit Margin - Quarterly
Return on Assets1.02%
Return on Equity9.68%
Interest Income$621.83 million

Sorry, we do not have rate data for KeyBank


KeyBank has 1,067 locations. Click to view all KeyBank locations.