MyBankTracker rated KeyBank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
Just moved into the area after college and was looking for a new bank. What I didn't realize was how time consuming being a customer at Key Bank would be. When they tell you that you only have to have 5 transactions a month to stay away from service charges, or that to have a savings you need to take $20 from your checking to your savings, you think “Sure, I’ll be able to do that.” Let me tell you that is not as easy as it sounds, especially when you are young and trying to save what little money you have. Sure you can shuffle things about, but who really has time in their busy lives to play that game month after month? Also their fees for this and that are ridiculous. There’s a charge for having an ATM card, but NOT for a debit card, a fee for not keeping up with your accounts, a $12 fee for paper statements (which I needed when I first moved out here when I didn’t have internet access. And there’s even a $25 fee to close EACH account that you have with them. I’ve only been at Key for 6 months and I’ve already lost over $100 thanks to their endless games and fees. Not to mention that their customer service is unhelpful and they accused me of not being responsible with my money when I went to close my accounts. Stay away from these vampires if you value your money, it’s safer to keep your money in a coffee can buried in your back yard then to trust this bank with your livelihood.
Thinking of banking at FEEbank?.. think again.
Here is a list of fees, tricks and otherwise underhanded tactics to keep in mind.
true, Interest rates are cheap, But don't let that fool you, what they forgo in interest, they MORE than make up for in fees. YOU WILL BE SOAKED AND SMOTHERED IN FEES AND SLOW DEPOSIT POSTINGS, To escape the cycle, you Must pay off what you owe and close, close, close that account!
CHARGE-, to mobile bank.
CHARGE- for your paper bank statement.
CHARGE - if you make less than 5 transactions in a month.
OVERDRAFT PROTECTION ON YOUR CHECKING ACCOUNT?
forget it, you must apply for a line of credit, then attach it to your checking account, you now have a loan on your credit report. But make sure it actually gets attached to your checking account.
Do you STILL want a Line of credit?.. here's the rules.
CHARGE- to send you your monthly bill
CHARGE- per transaction to actually use it
YOU CAN'T MAKE PAYMENTS THRU THE ATM.
So, you are still ok with all these and still want to bank with them..
ONLINE- bank statement:
Very difficult to read,
Loan due dates are very small and in italics. The very thing that most consumers want to be able to find easily.
Over the phone Customer service:
probably out of India judging by the accent, I never had my problems resolved over the phone as I can't understand the CSR, In frustration, I just hang up.
Banking in person at local branches:
WAY to FEW tellers.
Local CSR seriously lack experience, they don't know how to resolve simple problems such as tellers depositing money in the wrong account. Tellers are preoccupied with other tasks, even when I am the only one standing in line, I wait in line.
Today I pay off my credit line, and close my account. I am soo done with keybank.. Too many fees, lousy customer service, and uninformed,inept tellers, who don't bother posting deposits in a timely manner.
Besides a lot of other issues with Key Bank predatory practices, I have recently found that the "promised delivery" date of e-bill payments are not being met. When the issue is raised with a branch on or after the promised date the check mysteriously shows up the next day. Of course, the account is debited the supposed date of issue, not the day actually cashed. Key Bank response to my bringing this problem to their attention?? - "well, it must be a postal service problem". It does not take 7 days for the postal service to deliver a letter.