Overview / Commentary
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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8/4/13 - Get $200 For A New Keybank Checking Account
7/10/13 - $200 Checking Account Bonus at KeyBank in Some States
5/16/13 - $150 Checking Account Bonus (with Caveats) at KeyBank in Certain States Only
9/20/12 - Another $150 Checking Account Bonus at KeyBank in Certain States Only
7/18/12 - $150 Checking Account Bonus At 2 Key Branches In Portland Oregon
5/8/12 - KeyBank Checking Account Bonus: $100 Gift Card
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
8/18/09 - KeyBank's Garmin GPS Checking Account Promotion
7/8/09 - KeyBank Checking Account Promotion
10/25/08 - $100 Checking Account Promotion at KeyBank - Update
8/23/08 - High CD Rates at KeyDirect and KeyBank - 4.55% 12-Month, 5.50% 48-Month
8/22/08 - iPod nano Checking Account Promotion at KeyBank - Update 2
7/26/08 - 4.50% 23-Month CD at KeyDirect
6/30/08 - 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
1/22/08 - 5.55% to 5.90% on 5 to 10 Year CDs at KeyDirect
1/12/08 - 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
2/20/07 - Digital Camera Checking Account Bonus at KeyBank
7/23/06 - iPod nano Checking Account Bonus at KeyBank

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!

Nice checking account

Posted by: Ditechso | May 18, 2018

Two years ago I opened a Keybank Online checking account. They were the only bank that approved me due to my horrible past credit issues. It is an online checkless account. I have it set up for direct deposits for many of my income sources and payroll deposits. I also have a debit card with them, there is a zero fee for the card and the checking account. Which I love. They also have an option to easily transfer money from my account to another Keybank checking account belonging to a family member, to which I owe money too, so that makes it very easy, and again, it is free. I use the online bill pay for bills, the money is usually always in the payee's account exactly when Keybank says it will be, and it also is a free service. The best thing is, that they have the online check cashing option that I use on my phone, I've done it many times and never had any issues, it's free, and the money is in my account the next business day. Overall I'm very happy with them. Although if I forget my password 1 time, I hafta call them to reset it.

Key Bank Review

I enjoy working with key bank. I like that as long as I keep my account active they waive the monthly maintenance fee. I do however wish that they offered free checks for the account that I have. The mobile site is easy to use to set up online bill pay.

Stole Money, Closed A 10 Year Old Account.

Posted by: PC1 | Jan 7, 2019

This Bank is horrible run away. Had 2 accounts with Key. one with a business and 1 just a money market acct. Closed the business account when I found out they were letting a partner deposit company checks into his personal account. Partner stole 80k doing this and Key Bank was complicit in the fraud. Unbelievable. Wife had a money market account with her own money that she used as a rainy day fund. Maybe 1 or 2 transactions a year. She logged in to see her balance and all info was gone. Come to find out they closed the account citing 90 days inactivity. NO Notification. Gave money to the state unclaimed property fund. was a $16,700.00 balance. State says they have $15,800.00 Where did the other 900.00 go? Key tells us nothing. Worst bank I have ever dealt with, They steal money and allow others to do the same, then give you the run around and treat you with disdain when you ask questions as to how it can happen. Zero resolution from Key on both incidences. If you like your money do not use Key.



Health Grade Components

FDIC Certificate #17534
Year Established1849
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.5%
Return on Equity - YTD13.45%
Annual Interest Income$4.84B
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$138B$135.8B
LoansQ4 2018vs Q4 2017$90.94B$87.95B
DepositsQ4 2018vs Q4 2017$110.8B$107.6B
Equity CapitalQ4 2018vs Q4 2017$15.55B$15.17B
Loan Loss AllowanceQ4 2018vs Q4 2017$897.5MM$893.5MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$726.3MM$677.4MM
Real Estate OwnedQ4 2018vs Q4 2017$44.2MM$43.6MM

Rates for KeyBank are currently being reviewed.



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