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216-689-5580
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. 

 

THEY ARE JUST THIEVES!

they offered a $150 bonus for a new account and instead they took out of me $9 a month and didn't gave me the $150 prommised, and when I asked to close my account they said "you will have to pay a early termination fee of $50"

HORRIBLE Online Banking -- And THIEVES To Boot!

I was a loyal KeyBank customer for 20 years.   But their online banking has ended all of that.

The security checks are flawed.  It prompts you for information from public record (mortgage payment amount, relatives names, etc).  However, my answers were never correct.   Evidently, Key knows more about my family members than I do, and as a result my account would be locked.

This went on for a few years...  getting locked out of online banking every few weeks and having to spend 15 minutes on the phone getting it unlocked.   Finally, I gave up with them and just stopped using the account entirely.

I just learned that they started assessing a $5/month maintenance fee on my account due to inactivity.   Once they finally sucked all of my money from the account down to a zero balance, they closed my account.   WITHOUT EVEN NOTIFYING ME.

THESE PEOPLE ARE THIEVES!!!   BANK WITH THEM AT YOUR OWN RISK!!!

VIEW MORE REVIEWS

Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 KeyBank had $658.01 million in non-current loans and owned real-estate with $10.2 billion in equity and loan loss allowances on hand to cover it. This gives KeyBank a Texas Ratio of 6.45% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for KeyBank decreased slightly from 8.06% as of December 31, 2012 to 6.45% as of December 31, 2013, resulting in a positive change of 19.93%.This indicates that the balance sheet and financial strength for KeyBank has improved slightly in recent periods.

Deposit Growth

GRADE:
A+

In the past year, KeyBank has increased its total deposits by $3.71 billion, resulting in 5.44% 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.

Capitalization

GRADE:
A

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 $90.44 billion in assets with $10.2 billion in equity, resulting in a capitalization level of 11.28%, which is excellent.

Institution Statistics

Overall
FDIC Certificate #17534
Year Established1849
Employees14697
Primary RegulatorOCC
Assets and Liabilities
Assets$90.44 billion
Loans$58.61 billion
Deposits$71.85 billion
Equity Capital$9.31 billion
Loan Loss Allowance$886.95 million
Unbacked Noncurrent Loans$633.09 million
Real Estate Owned$24.93 million
Historic Data - December 2012
Assets$87.04 billion
Equity Capital$9.15 billion
Loan Loss Allowance$943.21 million
Unbacked Noncurrent Loans$633.09 million
Real Estate Owned$26.73 million
Profit Margin - Quarterly
Net Interest Margin3.02%
Return on Assets1.24%
Return on Equity11.79%
Interest Income$2.58 billion
Rates

Always verify rates and promotions with the bank or credit union. We are not KeyBank, we are a rate comparison website and can not provide official rates or promotions.

KeyBank Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%$25k-KeyBank Health Savings Account
0.02%$2,500-Key Saver
0.02%$2,500-Key Business Saver

KeyBank Money Market Rates

DetailsAPYMINMAXPRODUCT
0.10%$25k-Key Gold Money Market Savings
0.10%$25k-Key Business Gold Money Market Savings
0.05%$2,500-Key Silver Money Market Savings
0.05%$2,500-Key Business Silver Money Market Savings
0.02%$2,500-Key Advantage Money Market

KeyBank Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$100k-Key Privilege Select Checking (Daily Sweep)
0.15%$10k-KeyBank Business Interest Checking
0.10%$100k-Key Privilege Checking (Daily Sweep)

KeyBank CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$25k$100k10 Year Tiered CD - Relationship
1.25%$100k$500k10 Year Key Jumbo CD - Relationship
1.00%$100k$500k6 Year Key Jumbo CD - Relationship
1.00%$25k$100k6 Year Tiered CD - Relationship
1.00%$100k$500k7 Year Key Jumbo CD - Relationship
1.00%$25k$100k7 Year Tiered CD - Relationship
1.00%$25k$100k8 Year Tiered CD - Relationship
1.00%$25k$100k9 Year Tiered CD - Relationship
1.00%$100k$500k8 Year Key Jumbo CD - Relationship
1.00%$100k$500k9 Year Key Jumbo CD - Relationship
0.85%$100k$500k60 Month Key Jumbo CD - Relationship
0.85%$25k$100k60 Month Tiered CD - Relationship
0.75%$100k$500k48 Month Key Jumbo CD - Relationship
0.75%$25k$100k48 Month Tiered CD - Relationship
0.75%$25k$100k10 Year Tiered CD
0.75%$100k$500k10 Year Key Jumbo CD
0.65%$100k$500k36 Month Key Jumbo CD - Relationship
0.65%$25k$100k36 Month Tiered CD - Relationship
0.50%$25k$100k6 Year Tiered CD
0.50%$25k$100k7 Year Tiered CD
0.50%$100k$500k6 Year Key Jumbo CD
0.50%$100k$500k7 Year Key Jumbo CD
0.50%$25k$100k8 Year Tiered CD
0.50%$25k$100k9 Year Tiered CD
0.50%$100k$500k8 Year Key Jumbo CD
0.50%$100k$500k9 Year Key Jumbo CD
0.45%$100k$500k24 Month Key Jumbo CD - Relationship
0.45%$25k$100k24 Month Tiered CD - Relationship
0.35%$25k$100k60 Month Tiered CD
0.35%$100k$500k60 Month Key Jumbo CD
0.30%$25k$100k36 Month Tiered CD
0.30%$25k$100k48 Month Tiered CD
0.30%$100k-36 Month Key Jumbo CD
0.30%$100k$500k48 Month Key Jumbo CD
0.25%$25k$100k24 Month Tiered CD
0.25%$100k$500k24 Month Key Jumbo CD
0.20%$100k$500k120 - 149 Day Key Jumbo CD - Relationship
0.20%$100k$500k6 Month Key Jumbo CD - Relationship
0.20%$2,500$100k120 - 149 Day Key Short Term CD - Relationship
0.20%$2,500$100k6 Month Tiered CD - Relationship
0.20%$100k$500k12 Month Key Jumbo CD - Relationship
0.20%$2,500$100k12 Month Tiered CD - Relationship
0.20%$2,500$100k150-179 Day Key Short Term CD - Relationship
0.20%$100k$500k150-179 Day Key Jumbo CD - Relationship
0.10%$2,500$100k60 - 89 Day Key Short Term CD
0.10%$2,500$100k90 - 119 Day Key Short Term CD
0.10%$2,500$100k120 - 149 Day Key Short Term CD
0.10%$2,500$100k6 Month Tiered CD
0.10%$2,500$100k12 Month Tiered CD
0.10%$100k$500k30 - 59 Day Key Jumbo CD
0.10%$100k$500k60 - 89 Day Key Jumbo CD
0.10%$100k$500k90 - 119 Day Key Jumbo CD
0.10%$100k$500k120 - 149 Day Key Jumbo CD
0.10%$100k$500k6 Month Key Jumbo CD
0.10%$100k$500k12 Month Key Jumbo CD
0.10%$100k$500k30 - 59 Day Key Jumbo CD - Relationship
0.10%$100k$500k60 - 89 Day Key Jumbo CD - Relationship
0.10%$100k$500k90 - 119 Day Key Jumbo CD - Relationship
0.10%$2,500$100k60 - 89 Day Key Short Term CD - Relationship
0.10%$2,500$100k90 - 119 Day Key Short Term CD - Relationship
0.10%$2,500$100k7-31 Day Key Short Term CD
0.10%$2,500$100k32-59 Day Key Short Term CD
0.10%$2,500$100k150-179 Day Key Short Term CD
0.10%$2,500$100k7-31 Day Key Short Term CD - Relationship
0.10%$2,500$100k32-59 Day Key Short Term CD - Relationship
0.10%$100k$500k7-13 Day Key Jumbo CD
0.10%$100k$500k14-29 Day Key Jumbo CD
0.10%$100k$500k150-179 Day Key Jumbo CD
0.10%$100k$500k7-13 Day Key Jumbo CD - Relationship
0.10%$100k$500k14-29 Day Key Jumbo CD - Relationship

KeyBank IRA Rates

DetailsAPYMINMAXPRODUCT
1.25%$25k$100k10 Year Tiered IRA - Relationship
1.25%$100k$500k10 Year Key Jumbo IRA - Relationship
1.00%$100k-6 Year Key Jumbo IRA - Relationship (Traditional,Roth)
1.00%$25k$100k6 Year Tiered IRA - Relationship (Traditional,Roth)
1.00%$100k-7 Year Key Jumbo IRA - Relationship (Traditional,Roth)
1.00%$25k$100k7 Year Tiered IRA - Relationship (Traditional,Roth)
1.00%$25k$100k8 Year Tiered IRA - Relationship
1.00%$25k$100k9 Year Tiered IRA - Relationship
1.00%$100k$500k8 Year Key Jumbo IRA - Relationship
1.00%$100k$500k9 Year Key Jumbo IRA - Relationship
0.85%$100k-60 Month Key Jumbo IRA - Relationship (Traditional,Roth)
0.85%$25k$100k60 Month Tiered IRA - Relationship (Traditional,Roth)
0.75%$100k-48 Month Key Jumbo IRA - Relationship (Traditional,Roth)
0.75%$25k$100k48 Month Tiered IRA - Relationship (Traditional,Roth)
0.75%$25k$100k10 Year Tiered IRA
0.75%$100k$500k10 Year Key Jumbo IRA
0.65%$100k-36 Month Key Jumbo IRA - Relationship (Traditional,Roth)
0.65%$25k$100k36 Month Tiered IRA - Relationship (Traditional,Roth)
0.50%$100k-6 Year Key Jumbo IRA (Traditional,Roth)
0.50%$25k$100k6 Year Tiered IRA (Traditional,Roth)
0.50%$100k-7 Year Key Jumbo IRA (Traditional,Roth)
0.50%$25k$100k7 Year Tiered IRA (Traditional,Roth)
0.50%$25k$100k8 Year Tiered IRA
0.50%$25k$100k9 Year Tiered IRA
0.50%$100k$500k8 Year Key Jumbo IRA
0.50%$100k$500k9 Year Key Jumbo IRA
0.45%$100k-24 Month Key Jumbo IRA - Relationship (Traditional,Roth)
0.45%$25k$100k24 Month Tiered IRA - Relationship (Traditional,Roth)
0.35%$100k-60 Month Key Jumbo IRA (Traditional,Roth)
0.35%$25k$100k60 Month Tiered IRA (Traditional,Roth)
0.30%$100k-36 Month Key Jumbo IRA (Traditional,Roth)
0.30%$25k$100k36 Month Tiered IRA (Traditional,Roth)
0.30%$100k-48 Month Key Jumbo IRA (Traditional,Roth)
0.30%$25k$100k48 Month Tiered IRA (Traditional,Roth)
0.25%$100k-24 Month Key Jumbo IRA (Traditional,Roth)
0.25%$25k$100k24 Month Tiered IRA (Traditional,Roth)
0.20%$100k-120 - 149 Day Key Jumbo IRA - Relationship (Traditional,Roth)
0.20%$2,500$100k120 - 149 Day Key Short Term IRA - Relationship (Traditional,Roth)
0.20%$100k-6 Month Key Jumbo IRA - Relationship (Traditional,Roth)
0.20%$2,500$100k6 Month Tiered IRA - Relationship (Traditional,Roth)
0.20%$100k-12 Month Key Jumbo IRA - Relationship (Traditional,Roth)
0.20%$2,500$100k12 Month Tiered IRA - Relationship (Traditional,Roth)
0.20%$2,500$100k150-179 Day Key Short Term IRA - Relationship
0.20%$100k$500k150-179 Day Key Jumbo IRA - Relationship
0.10%$100k-30 - 59 Day Key Jumbo IRA (Traditional,Roth)
0.10%$100k-30 - 59 Day Key Jumbo IRA - Relationship (Traditional,Roth)
0.10%$100k-60 - 89 Day Key Jumbo IRA (Traditional,Roth)
0.10%$100k-60 - 89 Day Key Jumbo IRA - Relationship (Traditional,Roth)
0.10%$2,500$100k60 - 89 Day Key Short Term IRA (Traditional,Roth)
0.10%$2,500$100k60 - 89 Day Key Short Term IRA - Relationship (Traditional,Roth)
0.10%$100k-90 - 119 Day Key Jumbo IRA (Traditional,Roth)
0.10%$100k-90 - 119 Day Key Jumbo IRA - Relationship (Traditional,Roth)
0.10%$2,500$100k90 - 119 Day Key Short Term IRA (Traditional,Roth)
0.10%$2,500$100k90 - 119 Day Key Short Term IRA - Relationship (Traditional,Roth)
0.10%$100k-120 - 149 Day Key Jumbo IRA (Traditional,Roth)
0.10%$2,500$100k120 - 149 Day Key Short Term IRA (Traditional,Roth)
0.10%$100k-6 Month Key Jumbo IRA (Traditional,Roth)
0.10%$2,500$100k6 Month Tiered IRA (Traditional,Roth)
0.10%$100k-12 Month Key Jumbo IRA (Traditional,Roth)
0.10%$2,500$100k12 Month Tiered IRA (Traditional,Roth)
0.10%$2,500$100k7-31 Day Key Short Term IRA
0.10%$2,500$100k7-31 Day Key Short Term IRA - Relationship
0.10%$2,500$100k32-59 Day Key Short Term IRA
0.10%$2,500$100k32-59 Day Key Short Term IRA - Relationship
0.10%$2,500$100k150-179 Day Key Short Term IRA
0.10%$100k$500k7-13 Day Key Jumbo IRA
0.10%$100k$500k7-13 Day Key Jumbo IRA - Relationship
0.10%$100k$500k14-29 Day Key Jumbo IRA
0.10%$100k$500k14-29 Day Key Jumbo IRA - Relationship
0.10%$100k$500k150-179 Day Key Jumbo IRA
Locations

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