Key Bank USA Complaint - A 10 year customer lost...
EASTLAKE -- I have had Keybank for over 10 years now and up until the past few months, have always been very pleased. Never had any issues, no surprise fees.
However, in the past few months things have drastically changed, and as a result, I closed both my checking and savings account with them this morning.
In the fall, I purchased several items from an online merchant. That merchant put an pending authorization through for the full amount, and then 2 days later put through two separate authorizations because the items were going to ship separately. Because this caused the amount to show up twice in my account, my account overdrafted. When I called Key, I was told that only one of the overdraft fees would be removed because it "was not a bank error", even though it was not my error either!
Then, with no warning or notification, Key changed their policy on deposits. From when I first opened my account, a large portion of any ATM deposits would be available right away. This is one of the reasons that I loved banking through Key and had recommended them to several friends. For example, if I deposited $1000 on a Friday, at least $400-500 of it would be available right away. Now, only the first $100 is available right away. When I called and asked them why, I was told it was just a change in their policy. No explanation of why there wasn't any notification sent to their customers.
Today was the last straw. I sell things on eBay part time. On Monday, I deposited around $1000 of both personal and eBay checks into the ATM. This morning, when I logged into my account, the deposit was reversed and I was charged a fee for the reversal. When I called them, I was told because one of the checks was made out to my eBay user ID rather my name, they considered it a business check and rejected my deposit. I explained that this has never been an issue before and was told that it was just never caught before and that if I wanted to make deposits for eBay, I had to open a business checking account. I sell 2-3 items at most per year, so I have no desire to open an account just for that! The worst part is, they have the mail the checks that I tried to deposit back to me. This could take 4-10 business days. So not only did they not accept my deposit, I also have to now wait 4-10 business days to get my $1000 back?
Another long term customer lost...