KeyBank: A Comprehensive Overview

Introduction

Headquartered in Cleveland, Ohio, KeyBank stands as one of the leading financial institutions in the United States, boasting over $187 billion in assets. With an extensive footprint of 953 branches spread across 16 states, KeyBank offers a comprehensive suite of banking products and services to meet the diverse needs of its customers.

Product Offerings

Checking Accounts

* Key Smart Checking: No monthly maintenance fees or minimum deposits.
* Key Select Checking: Interest-bearing account with a $100 annual cash bonus but subject to a $25 monthly maintenance fee (waived with certain criteria).
* KeyBank Hassle-Free Account: No monthly maintenance fees or minimum deposits.

Savings Accounts

* Key Active Saver Account: Traditional savings account with a $4 monthly fee (waivable) and $10 minimum deposit.
* Key Select Money Market Savings Account: $5,000 minimum opening deposit and $20 monthly fee (waivable).
* Health Savings Account (HSA): Tax-advantaged savings for medical expenses.
* KEY4KIDS Savings Account: Kids' savings account with no monthly fees and $10 minimum deposit.

Certificates of Deposit (CDs)

* Terms ranging from six months to 10 years.
* $2,500 minimum deposit.
* Earn up to 4% APY (Annual Percentage Yield) based on balance.
* Jumbo CDs with deposits of at least $100,000 and terms from seven days to 10 years.

Credit Cards

* Four credit cards offering cash back, rewards, and perks.
* Secured credit card option available.

Lending

* Mortgages and home loans.
* Personal loans and lines of credit.
* Vehicle loans.
* Student loan refinancing.

Investing

* IRAs (Individual Retirement Accounts).
* Annuities.
* Mutual funds.
* Managed accounts.
* Education savings plans.
* Health savings investment accounts.

Insurance

* Long-term care insurance.
* Life insurance.

Fees

KeyBank's fees are generally competitive, but customers should be aware of the following:

* Monthly maintenance fees: Some checking and savings accounts carry monthly maintenance fees unless certain criteria are met ($25 for Key Select Checking, $4 for Key Active Saver).
* ATM fees: Fees apply for out-of-network ATM usage.
* Overdraft fees: Charged for overdrawing accounts.
* Wire transfer fees: Fees apply for wire transfers.

Pros

* Wide range of products and services to meet various financial needs.
* 24/7 customer service via phone and chat.
* Extensive branch and ATM network for convenience.

Cons

* Relatively high minimum deposits for certain accounts (CDs, money market accounts).
* Monthly maintenance fees for some accounts.
* Lower savings interest rates compared to competitors.

Customer Service and Mobile Banking

* 24/7 customer service hotline.
* Dedicated support numbers for specific products and services.
* MyKey virtual assistant tool for online account management.
* Highly rated mobile app for convenient banking, including check deposits and bill payments.

Social and Environmental Impact

KeyBank emphasizes sustainability and has set environmental targets to address climate change. It has financed $10 billion towards supporting environmental causes and is working towards carbon neutrality by 2030.

Contact Information

* Headquarters: 127 Public Square, Cleveland, Ohio, 44114
* Phone: 1-800-539-2968