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KeyBank Review: Checking, Savings and CDs

Banking, Banks & Credit Unions, CDs, Checking Accounts, Savings Accounts
KeyBank Review: Checking, Savings and CDs
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NerdWallet’s rating: 3.0 / 5.0

Where KeyBank shines:

  • Monthly fees on savings and checking accounts are cheaper and slightly easier to avoid than those at the biggest banks
  • Customer service is accessible through many channels

Where KeyBank falls short:

  • Low rates on savings accounts and certificates of deposit
  • Overdraft fees can get expensive, and you can get hit with an extended overdraft fee

Where KeyBank shines:

  • Monthly fees on savings and checking accounts are cheaper and slightly easier to avoid than those at the biggest banks
  • Customer service is accessible through many channels

Where KeyBank falls short:

  • Low rates on savings accounts and certificates of deposit
  • Overdraft fees can get expensive, and you can get hit with an extended overdraft fee

Where KeyBank shines:

  • Monthly fees on savings and checking accounts are cheaper and slightly easier to avoid than those at the biggest banks
  • Customer service is accessible through many channels

Where KeyBank falls short:

  • Low rates on savings accounts and certificates of deposit
  • Overdraft fees can get expensive, and you can get hit with an extended overdraft fee

 

KeyBank National Association

at KeyBank National Association,

Member, FDIC

The bottom line

KeyBank’s approach to banking includes no-frills checking accounts and convenience, with 1,200 branches in 15 states. The Cleveland-based bank’s overdraft fees are high, however, and savings accounts have low rates. Certificates of deposits also have bare-bones interest rates. But customer service is robust for a midsize bank; it includes live phone help, Twitter assistance and chat support, as well as in-person service.

Best if: You’re looking for a midsize bank with good customer service and you prioritize branch accessibility.

» Want to browse other options? See the best banks and credit unions

Margarette Burnette is a staff writer at NerdWallet, a personal finance website. Email: mburnette@nerdwallet.com. Twitter: @margarette.

 

Ratings methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, customer experience and overdraft fees.

Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.