I have been banking with Key Bank for a few years now. They are the most annoying company... Period. They will run you around and around and around. I have had way too many issues with this bank. It seems like it's a new problem every month. This last example is what made me decide to write a review that, hopefully, will prevent anyone else from experiencing Key Bank's poor attempt at banking. Something as simple as activating my debit card should not be a huge hassle for me.
I called the number on the card in order to activate it. The automated system won't activate it for me, and so it transfers me to a "Customer Service" clerk. After I tell them what I am trying to do, they go ahead and put me on hold for about 10 mins. When they finally decide to get back on the phone, they say "There is a block on your new debit card. You will have to CALL your home branch."
So I am pretty irritated at this point. All I want to do is activate my freakin' debit card. So I call the branch and tell them the situation and what I need help with. They say "I think that is something you would have to COME IN for." Great, so now I have to waste my time to drive all the way to the branch, which is about 30 miles away (minimum) because I moved out of the area of the "home branch".
I'm almost considering not even activating it at this point. They are a waste of my time and money. It would seem as though they make policies and regulations that only benefit themselves. For a second there, I thought I WAS THEIR CUSTOMER and they should be bending over backwards for me, not the other way around.
AUBURN, WASHINGTON -- I had an overdraft situation caused when a creditor posted a scheduled payment one day early onto our Key Bank checking account. I discovered the action on a routine internet access of the account early the next day. After the initial shock and a couple hours later that morning, I showed up at Key Bank with almost $2,300, with some $800 in cash, in a good faith effort to correct the balance and stop the fiscal bleeding. A lot of good that did!
That day, 7 over limit charges showed up. The branch manager (Auburn, WA branch on Auburn Avenue) refunded 3 of those charges. She noted that two to six more charges would be showing up. Given her tone, I assumed some corrective action would be undertaken. I was wrong.
Those 6 other charges showed up and stayed. I called in to see if anything was going to be done. No answer for a week. I dropped off a written request for consideration. I was contacted two days later and told that the three refunded (out of 13) was all that was going to be handled. So, because Bank of America drew one day early, Key Bank rewarded my efforts to be fiscally responsible and correct by taking $365 and keeping it. Bank of America was kind enough to give us a $98 credit on our line of credit account with them regarding this fiasco. Key Bank's pending deposit policy is one of the most egregious in the area and probably is used to generate a large number of fees.
Even Bank of America wasn't this bad when we boo booed our commercial account (only one charge was kept out of six or seven charged in that instance). We have been customers at this particular branch of Key Bank in its various forms for 24 years, but I believe that it is time to move our personal checking to a local credit union that is a lot more consumer oriented. I am suspecting that Key Bank is having cash flow issues and is grabbing fees wherever and whenever it can. If you see this and you have a Key Bank account, move your money to an institution that is better capitalized and consumer friendly. Key Bank definitely lacks in that category!
BURLINGTON, VERMONT -- I opened an account with Key bank about 6 months ago. I am used to paying my bills online, so I started online bill pay with Key. My former bank's online bill pay was very fast and reliable. NOT so with Key Bank. In August, I sent out a credit card payment that was due in 2 weeks. It showed up LATE. Key bank had two weeks to get the payment out. I was charged a $25 late fee by my credit card company. I paid online again In September with no issues. October rolled around and the problem got worse. I sent out two payments that were due in 3 weeks.
I sent them out around October 5th, and my credit card company had not posted the payments as received by the 22nd of October! I called Key Bank, waited a long time, only to find out that when they do an “online payment” they actually mail a paper check to the credit card company. BOTH payments were lost in the mail (or never sent?).
Again, they did not get there on time and my credit card company charged me. Luckily, I got those fees reversed by telling them about how slow Key Bank is. If I had known that I would have written a check myself! Speaking of checks, they charge almost $50 for a book of checks if you don't have free checking! I am not too happy with Key Bank, have changed my method of payment.
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.
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 than $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.
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.
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.
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 account I used for nothing but paying bills and saved money in a Credit Union. I received an email saying my account was overdrawn, I had forgot to close it out and had fully changed banks but forgot one insurance company. That company tried to pull the money multiple 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. It's 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 do the same thing.
Absolutely idiotic business practice. No wonder I see lots of people canceling their accounts with them. Key Bank- The "KEY" to success is really taking care of customers especially for freaking $400!!! NEVER WILL I RECOMMEND, send customers to you, or work with you again!
CANAL WINCHESTER, OHIO -- DO NOT USE KEY BANK!!! They place holds on your money so that they can charge you overdraft fees. So let's just say you deposit cash into your account. When you look online it shows what is called "pending activity". Then there is another section for "cleared activity". What they do is hold your deposit and your recent transactions in the "pending activity" section for a few days so that it looks like it hasn't posted yet. Then they will send debits and withdrawals through first then the deposit last.
By doing this you will have overdraft fees on every item. This is how they make their money and stay in business, by ripping off their patrons. If you take anything from this, just do not open an account with Key Bank, they are CROOKS!!!
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 nowhere, 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 ridiculous. All I did was open an account and I deposited my money in there - no fraud whatsoever 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.