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Worst Bank and Employees I Have Ever Experienced
Posted by Jnivary on 10/23/2013
FERNDALE, WASHINGTON -- This is a terrible bank. I have banked at many different places and this by far is the worst bank. Not only are their overdraft fees terrible, they are the only bank I have ever dealt with that has a policy in place to charge you 37 bucks and then if not brought to a positive balance charge you another almost 40 bucks three days later and every 2-3 days after. They do not show online all your pending transactions. Also, the ones that are pending and show that should be cleared and taken out are not and other transactions that do not show are pending are taken out before the others that are.

When talking to employees working there about their fees, they were extremely rude about it and talked over top of me and cut me off.

Overall I would never bank here again and would never recommend this bank to anyone looking for a bank. By far the worst ever.

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Posted by Obsfucation on 2013-10-23:
You're right, they are a pretty bad organization.
On the other hand, you have an obligation to handle your accounts in a responsible manner, and if you are dealing with recurring OD charges, you are not. From your narrative, it sounds as though you are trying to manage your account by checking balances online. This does not work.
Banks do not control when pending items clear, the merchants and data switches control that by the timing of the submission of the debit items. Because a bank cannot know when these items will clear, or if they even will clear, they cannot be reflected accurately in an online balance. Similarly, the bank cannot know that you have written a check which has not yet been cleared.
You probably should change bank, but unless you also change your banking habits, these problems will follow you in some fashion.
Posted by Paul on 2013-10-25:
Many banks today have overdraft policies not far different than what you describe. It is true that a fairly small oversight can cost you a lot of money. The key, so to speak, is to keep track of all your debits and credits, and not rely on online balances as a substitute.
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Terrible Customer Service
Posted by Rlvoss on 08/28/2013
CLAWSON, MICHIGAN -- Hopefully anyone dealing with Key Bank won't have to deal with this branch, The branch my mother dealt with was closed. This branch was over an hour drive from her house. She had a CD come due and she missed the deadline by 4 days and they charged her more then $500 to cancel the new one. They would do nothing to help her, and didn't seem to care that she had to travel so far to take care of the situation.

When I questioned why they couldn't do anything to help, they said that was their policy (one entire years interest) and then the branch manager was very rude to me. Shame on them for treating people this way, no wonder they have to close branches. My mother is a senior citizen with only her social security to live on, and they wouldn't even try to help.
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Posted by CU on 2013-08-28:
With any certificate, there is always a grace period. You are notified that the certificate is coming due ahead of time, and you can give your instructions during that period, either in person or by responding to the notice. After the rollover you still have ten days of grace.

Personally I would never deal with Key Bank, but unless they are different from every other bank, your mother had (give or take) six weeks to do something with this certificate before the penalty kicked in.
Posted by trmn8r on 2013-08-28:
Banks (usually) have extremely clear terms on renewing CDs. You can find out the window you have to redeem it past the renewal date, as well as the penalty by simply asking. I don't see evidence Key did anything wrong here. It stinks that your mom lost a year's interest, but those are the terms and I don't agree they should waive them.
Posted by Weedwhacked on 2013-08-29:
The bank didn't cause her to miss the deadline. In complaints like this the "help" you requested is always about the bank making an exception and giving you their money. It doesn't work that way. That is the reason for terms and conditions that you agree to by contract. If the policy applies to everyone else, so it should for your mother as well.
Posted by oldisgood on 2013-08-29:
I thought the grace period to renew was 10 days. I think your mom got "took".
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Paid Off Boat Loan With Key Bank and No Titles
Posted by Mrjjwiley on 08/04/2013
CINCINATTI, OHIO -- In 2008 I financed a boat and trailer from Key Bank for 35K and never missed a payment. In fact, I have always been paid at least 3 months in advance on a 15 year loan.

In 2011 I filed chapter 7 but continued to pay Key Bank because it was a secured loan and I didn't want to lose my boat. Two years later, I am still current on my payments. My boat gets totaled and the insurance company sent me a check to pay off the boat and trailer however listed both myself and Key Bank names on the check. The payoff was $24,000 and the check was $33,500 and I had made a deal with the insurance company to keep the salvaged boat and trailer for $1500 less. Otherwise the check would have been $35,000.

In any event I felt reluctant to just sign and send this check to them in hopes they would send me my share of the check plus the titles. I was right, it's been a month now and the $11,000 due to me and my titles are still not in my hands. They are totally ripping me off and I don't know what to do.This bank makes me sick. Any advice would be appreciated. I know that can't keep my money and titles forever. They will not discuss anything on the phone but transfer me to their bankruptcy lawyers who don't tell me anything either.
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Posted by BigAl on 2013-08-04:
This may not be as simple as you think. In 2005 the bankruptcy laws were changed. In 2011 when you filed your bankruptcy you had to list your boat along with its value and the amount you owed on it. If you did not list your boat you could be in trouble with the law. If you undervalued the worth of your boat you could also be in trouble. Hopefully you had the boat officially appraised at the time of the bankruptcy. Most judges would require that. There are several unanswered questions in your post. Was the insurance check for the boat only or was other losses, such as medical covered by the check? How many months have passed from the official bankruptcy closure date and your loss? Had you done any improvements to the boat since the bankruptcy? Now would be a good time to get your story together because I see problems in your future. Good luck.
Posted by Tezrien on 2013-08-04:
Have you tried going in to one of their branch locations and taking with the branch manager about the situation?
Posted by Jeff Wiley on 2013-08-05:
Their bank branches are in Ohio and i am in California. Also it has been two years since my BK aqndyes the it was reported ad the judge knew i was keeping the boat. There wer no medical losses included with the loss. The bottom line is they need to pay me my share of that money from the insurance check and send me my titles for the salvages that the insurance company sold me the rights to. The bank got all their money and mine as well. What they are doing is against the law.
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Service Charge on a Dead Mans Account, After They Were Given Proof of His Death.
Posted by Rosalin on 05/10/2013
FREMONT, OHIO -- My son died in October. Two weeks after his death, I took a death certificate so no one could withdraw illegally. They then sent me a letter, they were charging him $25.00 a month service charge because no deposits were being made. I informed them again he had died, we were trying to take care of things through the court. They said they would reimburse that money. Needless to say they did not . They kept $150.00 of his money. This money was meant for his baby who was born 3 weeks after his death. I feel they robbed a dead man..

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Posted by Susan on 2013-05-10:
Have you followed up with the bank about the refund? Obviously the account your son had specified that at least one deposit must be made per month or they will charge $25. I honestly don't think they "robbed a dead man" or are purposely taking money from his baby.
Posted by ACoop on 2013-05-10:
That's ok, when my husband died I went and showed them proof so I could change everything, they sent me a card with the name "deceased first_last name" - idiots.... I still have it. They wanted it back, don't think so.... closed the account...Idiots... oh, and the card worked to withdraw money....
Posted by trmn8r on 2013-05-11:
The $25/month charge may be related to the terms your son had on that account, as Susan suggests - some checking accounts have no fee if there is a direct deposit once a month - perhaps his paycheck.

This highlights the benefit of having an executor and not having to wait for probate.
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No Phone Call, Letter in the Mail, or Email- Before Sending It to Collections
Posted by Koenig.greg on 01/04/2013
WASHINGTON -- I have used Key Bank for 3+ yrs. Never have had great experiences or assistance in any of that time. My account was a secondary acount I used for nothing but paying bills and saved money in a Credit Union. I received an email saying my account was over drawn, I had forgot to close it out and had fully changed banks but forgot one insurance company. That company tried to pull the money mulitple times resulting in overdraft fees galore. End result I was overdrawn $400, got the email in December but at that same time they closed it and sent it to collections. Protocol apparently is to call before it gets that far. I never received any phone call and the lady I talked with agreed with me. Nor did I receive a letter or email saying my account would be closed and sent to collections. Its called being human, one phone call will solve most issues, if you don't try then you will never know or your customer may never know. I have told everyone I work with I will pay them to pull out of banking with them and will tell everyone I run into to do the same thing. Absolutely idiotic business practice. No wonder I see lots of people cancelling their accounts with them. Key Bank- The "KEY" to success is really taking care of customers especially for Fricken $400!!! NEVER WILL I RECOMMEND, send customers to you, or work with you again!
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Posted by At Your Service on 2013-01-05:
How much are you offering to transfer balances from Key Bank?

I don't believe most companies use collections to strictly collect on accounts that are being "willfully unpaid". Collection companies and divisions are used to obtain payments from human mistakes too.

I'm glad you got it paid.
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Posted by Shaman on 12/11/2012
A student pilot I know got over $100,000 in loans from Key bank to become a pilot. Pilots who start out today barely make a living. Furthermore, many were caught being laid off. The airline industry fell in hard economic times. That makes it impossible for a graduate to make payments, rent, car, gas, food. Key Bank did a settlement for about $25,000. The person did not have to file bankruptcy.The loan was not a government school loan. It falls under alternative loan.
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Posted by CUontheFlipSide on 2012-12-11:
That's great, but does he realize he has to pay income taxes on that $75,000 that they wrote off? He may be in for a very rude awakening come January.
Posted by Old Timer on 2012-12-11:
Wow, a 75% write-off, well done. Guess Key Bank will have this customer for life. Might even get a portion of their write-off back.
Posted by yoke on 2012-12-11:
That was awesome of the bank to do that. I was thinking the same thing about the $75,000. Wonder if the OP's friend is aware of it
Posted by bob932304 on 2012-12-11:
I am a curmudgeon, something doesn't sound right about this story. A bank isn't going to blow off $75,000. BUT, it they did the pilot will owe taxes on the $75,000 (as stated in previous posts).
Posted by CUontheFlipSide on 2012-12-11:
Yeah they might, and they aren't all that altruistic. If the guy is teetering on bankruptcy, they'd rather get something than nothing.
Posted by Shaman on 2012-12-15:
The Insolvency Rule (IRS publication 908)
Most Debtors find that there is actually a big “loop hole” called the insolvency rule that allows them to NOT have to pay any taxes on the forgiven debt. According to the IRS, if you are “insolvent” at the time of the debt forgiveness, (which most consumers are if they are enrolled in a debt negotiation program) then you have no tax liability on the debt reduction up to the point that you are insolvent.
Let me put that in English for everyone. If your debts outweigh your assets then you are insolvent. So if you have a negative net worth then the IRS lets you slide and does not require you to pay taxes on the forgiven debt. As an example, if you where 100K upside down on your house, had 50K in credit card debt and only 40K in assets then you would be insolvent by 110K and you would not have to pay taxes on any of the settled credit card debt..
Most consumers find that if they are so far upside down financially that they have to look into a debt negotiation strategy, that they are also insolvent and therefore not liable for additional taxes on the amount of debt forgiven. As always though, check with a qualified Tax consultant about your specific situation, and ask if the Insolvency Rules would apply to you.
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Cashing Out CD With Key Bank
Posted by Wspecht on 09/04/2012
I had a CD with Key Bank that matured a few days ago. Today, I called them and said that I wanted to close out the CD and have a check for the proceeds mailed to my home address. They informed me that I would need to make the request in writing, have it notarized, and mail it to them before they would send me a check. It's MY MONEY, not theirs!!!!!
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Posted by madconsumer on 2012-09-04:
sadly, this is in place to protect you!

very helpful review, and voted as such'!
Posted by unhappy999 on 2012-09-04:
They need a record that you told them to cash it out and they have to make sure its from you so it has to notarized. They are doing this to protect you.
Posted by prince caesar on 2012-09-05:
I think this is pretty ridiculous. I mean why do you have to jump through hoops to get your money back? IT shouldnt be any more difficult than going to your bank and making a withdrawal. Its basically the same thing.
Posted by trmn8r on 2012-09-05:
It is standard practice to verify the identity of the CD holder when redeeming.

If redeeming by mail, Key Bank's request makes sense. However, you should be able to walk into a Key Bank location and not have to present a notarized request, IMO.
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Posted by Goldenstate718 on 04/08/2012
Bad Reward System

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Posted by Alain on 2012-04-10:
This could also use more information. Thanks, again!
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Stupid Fees
Posted by Art_nuvoe on 03/03/2012
They charge me for paper use. $2.00. If you don't do enough transactions, they want $5.00. First it was three transactions, then five, now its seven.

Low down thieves.
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Posted by Sue on 2012-03-04:
Change banks, credit unions will charge you none of those fees.
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Lein holder on car title
Posted by Toreysmith77 on 01/30/2012
BROOKLYN, OHIO -- Been trying for 6 weeks to get a release of a lien on a car title. Asked to speak with a supervisor and was told I could not speak to one unless I had a reference number. They will not return phone calls or reply to written letters. Car was in an accident and we cannot settle with the insurance company until they release the lien, do not use this bank. I'm not finished with them yet, but they will have complaints filed with the AG and the BBB.
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Posted by Anonymous on 2012-01-31:
What is the reason they are refusing to release the lien on the title?

Also, I'm not sure I understand why the lien has to be released before the insurance co can settle? Any time a car is financed, there is a lien on the title...that shouldn't have any bearing on whether or not the insurance co will cover something.
Posted by traceylynn on 2012-01-31:
Is the lien paid off? If it is then yes, they should release it. Sometimes it has to go thru the state and that can take awhile. If it is not paid off the insurance money goes to Key Bank. Good luck, I hope it works out for you!
Posted by tracymantor on 2013-04-12:
I also been trying for lien relase on a car..the same crap being told they cant find it,nothing they can do..KEY BANK USA.. I WILL NEVER USE KEY BANK FOR ANY REASON.THEY ARE NOT A SERVICE MY FAMILY AND FRIENDS WILL USE IN FUTURE
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