KeyBank - Reviewed & Compared

Summary

KeyBank offers a range of checking accounts designed to meet various customer needs, from no-monthly-fee options to non-interest-bearing accounts. With the potential to earn $300 when you meet certain requirements and benefits like early direct deposits and overdraft protection, KeyBank provides a compelling mix of features. Simply make the minimum opening deposit of $10, plus a total of $1,000 or more in eligible direct deposits within the first 90 days of account opening.

Overview

KeyBank, founded in 1825 and headquartered in Cleveland, operates in 15 states. The bank offers a wide array of services for individuals and businesses and you can visit them at any of their convenient branches or 40,000+ KeyBank and Allpoint® ATMs nationwide. Additionally, KeyBank customers can use the Zelle® digital payment app and mobile check deposit for convenient, on-the-go banking.

What They Do Best

KeyBank excels in providing a variety of checking account options, including the Key Smart Checking® account with no monthly maintenance fees and an attractive $300 bonus for qualified activities on a new account.. The bank also offers features like automatic savings with EasyUp®, and and no overdraft fee if your checking account is overdrawn by $20 or less at the end of the day. You can even get paid up to two days early with eligible direct deposits to a KeyBank account. The comprehensive relationship benefits include better interest rates on savings, loan discounts, and more cash back. KeyBank's convenient online and mobile banking services, coupled with extensive ATM access, make it a versatile choice for many customers.

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Any Negatives

One notable drawback of KeyBank is its relatively low interest rates on savings accounts, money market accounts, and CDs. Additionally, the bank's physical branches are only available in 15 states, which may be inconvenient for some customers.

Our Final Verdict: 9.3/10

KeyBank is an excellent choice for those seeking a full-service bank with a wide range of checking account options and added benefits like early direct deposits with eligible direct deposits and overdraft protection. While the bank's interest rates on savings products may not be the most competitive, the variety of checking accounts and extensive digital banking features make it a strong contender for personal and small-business banking needs. If you reside in one of the 15 states with KeyBank branches, it could be a particularly convenient and beneficial option.