BELLINGHAM, WASHINGTON -- I have been receiving phone calls twice a day for eight months from a Key Bank collector. Unfortunately, these callers do not appear to share/exchange information with each other because I find myself repeating my scenario over and over again ad nauseum.
My problem began when Paypal attempted to withdraw funds from my Key Bank account. (Somehow Paypal defaulted momentarily to a bank account I had used five years ago).
I was notified in January of 2007 of a problem which had occurred in December of 2006. I was being charged 35.00 by Key Bank for every time Paypal tried to get money from my defunct account. It was being labeled an NSF charge. Paypal tried to access my account for almost a week (twice a day) before reverting to a back-up credit card.
When I realized what was happening I contacted Paypal. They recognized they had accessed an old account, put it into writing that they made the mistake, but they were about to cover any finance charges incurred.
I was most concerned with Key Bank's response as I had informed Key Bank (Fall of 2006) to close my account and informed them I had destroyed my bank card.
When I questioned why I was receiving banking charges on a closed account, Key Bank informed me the account was 'open' and could not be closed as there was pending activity (Paypal attempts). I was informed that my account needed to be paid before they could properly close it again.
Like a fool I went ahead (March 2007) and paid the NSF charges (now over $300.00) that I had been charged by the bank for Paypal's unauthorized attempts. I paid after I realized that Key Bank was not going to accept any responsibility for this situation. I thought if I paid first, I could recoup the funds at a later date.
Imagine my surprise when I started getting telephone calls in August of 2007. My Key Bank 'delinquent account' had been forwarded to a collection agency for unpaid fees. I told them (collection) I didn't have an account and everything had been settled in March/07. I also mentioned that Key Bank probably owed me money.
I have been receiving phone calls - starting with the automated dialing and then a person comes on demanding my personal information prior to continuing.
At first I was accommodating, explaining over and over the situation. Then I became angry - refusing to give out information over the phone. I demanded detailed bank statements as I hadn't received a bank statement since November of 2006. The statements I received show no activity aside from a finance charge that keeps growing.
It appears that the amount I paid in March did not convert into the full amount Key Bank felt I owed them. (I paid using Canadian funds via certified cheque which included the conversion amount for the date). My deposit slip is marked 'paid in full/account closed' by the cashier as I asked her to. Now the bank is stating that after the conversion, I still owed over $13.00.
To date, I now owe close to $400.00 (according to Key Bank and collectors).
The other day, while sorting out my files, I came across my original receipt from last year's payment. Yes! (People - a reminder to not throw out any proof of payment.)
When I informed Key Bank I had my proof of payment and even felt that they probably owed me, they want ME to send them the receipt and statement (original please) for that month/time period. I am to send copies to my original bank, the collectors office, as well as Key Bank's head office. And I do not want to!
Even if I do this, I will still have a negative credit rating because of this incident.
My question is... Shouldn't they already have my payment on file? Why do I have to run around photocopying, register mailing Key Bank to prove I don't owe them money. Why aren't they sending me information to prove I DO owe them money?
Can this American bad credit listing come across the border and register on the Canadian bad credit listings? I have managed for all this time not to incur bad debt, and now this?
How can collectors not have anything on their computer to refer to or answer questions with? (For example, when I asked them to tell me the date of my last Key Bank transaction - to prove I wasn't using the account at the time of the Paypal incident.) They couldn't tell me anything about my banking activity as they didn't have any information.
Finally, how does Key Bank justify this rabid dog response to collecting for finance charges? Is this really Key Bank or is this some collection agency? Is it even advisable to give any personal information (they won't continue with their call if I don't give personal information and they become abusive if I hesitate.) I don't even answer their questions anymore - they're the ones who called me so why should I give out my social security number?
My credit rating has its first official 'blemish' and Key Bank continues with their twice a day calls (as soon as I hear the automated click I hang up.) They have spent more in long distance calls than they ever would have collected for what 'I owe'.
I have had NUMEROUS problems (the last one being the WORST!) with Key Bank ever since I opened my account 5 months ago. Now I'm counting down the days till I can close my account (6 month waiting period) and open one with a more reliable, cooperative, and customer friendly bank.
Problem 1: When opening my account I was never made aware of the $1 fee for getting a receipt with ATM transactions. I was advised when I was opening my account and go my card to go make sure I checked to see that it worked before I left. So of course I took this advice, it seemed like a good idea. A few days later I set up my online banking and noticed a $1 service charge. I had to go into the bank to find out what it was for and when I told them what happened they said "Well, _____ is with a client right now, maybe you could come back tomorrow when we aren't as busy." Needless to say I didn't go back because the cost of gas would completely defeat getting the $1 back but to think about how many times they could do this and come out with quite a profit.
Problem 2: When I opened my account I was 17 and a few months later turned 18. My mom had been on my account and they told me all I'd have to do is go in and tell them I wanted to remove her from the account... no problem. I asked questions to be sure that this was clear that that's ALL it took but no.
So the time came... and I went to Key Bank (away from home) and told them I wanted to take her off my account. They started claiming I needed her there with me and that there was nothing I could do. I couldn't even get papers to fill out, send her to sign and bring back. She HAD to be with me. Yet... she went to the Key Bank at home and got papers, sent them to me, it took one signature, sent them back and she was able to do all that WITHOUT me there. They claim because of different state regulations, yet they never told me that when I opened the account and asked question after question to verify the simplicity.
Final Problem: I deposited a personal check of a relatives into my account. I had my # on the back of the check for the deposit to. I waited about a week, knowing that banks usually take a few days to process things (even though it was off of the same bank). Nothing had shown up. That's when I realized the #s on my receipt were different from my acct #! They had taken the number from the front of the check to deposit the money into. Luckily I have contact with the person the check was from, otherwise I could have been out a large sum of money
Key Bank has disappointed me way too often and I wouldn't recommend it to anyone looking to open an account. I
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.
OHIO -- 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!!!!!
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.
STAY AWAY FROM KEYBANK!!! I opened up a Keybank account over a month ago, due to a good promo that they were running. Out of no where, my debit card wasn't working so I decided to give them a call. They told me that my and my wife's account is being closed by the "fraud department". After a few days of trying to get through to them, I spoke to the women who actually closed my account her name was "Sara". She said "Keybank has a right to close my account without providing any reason or notice". She was extremely rude and didn't want to give me any info. When I called again she said she doesn't feel conformable talking to me as I sound like a different person. Additionally they can't send me a check for my account balance, and that I have to go down to the nearest Keybank branch which is 3 and a half hours away from me. I opened this account online since there was no branch near me. I find this absolutely ridicules, All I did was open and account and I deposited my money in there- no fraud what's so ever as I have never done anything like that. I used so many banks and no has ever done this to me. I can't even check my account balance online as they cancelled it without notice. I've never experienced dealing with someone this ruthless. I don't plan on dealing with Keybank again but now I basically don't know what to do as I can't travel 3-4 hours to the bank.
ANYWHERE IN THE US, IDAHO -- I wish I had read these reviews BEFORE I decided to borrow money from Key.
They are horrible. They do not want to work with you if you have trouble and are as rude and uncaring as I am reading about in these reviews.
I had 3 loans. One with Bank of America, one with Wells Fargo and one with Key. Bank of America and Wells Fargo were difficult but reasonable.
Key Bank is impossible. I was told (by them) it is because they are small and don't have all the resources as the other two banks, so can't handle problems. WOW, is that for sure. I wish I had known about this, hopefully this will save you some grief. Do your borrowing at a different bank!
CLEVELAND HEIGHTS, OHIO -- My son, a college kid, lived in the Coventry area last year and opened an account at this Key Bank because of its convenient location. This year, he found an apartment closer to campus. On August 18, 2010 he went to close his account, which had a balance of $9,000. The teller told him that if he wanted a check for the closing balance, he would have to pay a $6.00 fee. REALLY!?! SERIOUSLY!?!! This is just one example of Key Bank's lack of customer service and last ditch effort to service charge a customer even as they walk out the door. My son elected to take his $9,000 in cash. Next day, he opened an account at PNC Bank and explained why he was carrying $9,000 in cash. He was told that PNC will close an account upon request and issue a check - No Charge.