Key Bank is a poor example of a bank and is only focused on making a profit over customer service. On the 26th, I realized that if my pending charges posted, of $42.07 and $2.17 were to post that day my account would be overdrawn by $1.71. I quickly made a small deposit of $2.00 just to cover the fee to keep it positive. They held that deposit and did not post it until the next day. And although the two charges had not posted at the end of the day, I was charged an overdraft fee of $32.00 anyway.
At the close of day on the 26th, my actual balance (not available balance) was positive, but less the $32.00. I called to complain about my deposit not posting on the 26th and was told I missed the cutoff time. They agreed to reverse the fee. But the fee reversal did not post until the 28th. So when those charges came through on the 27th, for which there would have been enough money to cover them if not for the overdraft fee, I was charged two more overdraft fees - a tier 1 of $32.00 and a tier 2 of $37.00. My account is now overdrawn by $68.66 due to $69.00 of overdraft fees. They refuse to reverse the fees.
I will be closing my account tomorrow after my paycheck posts and I pull my funds out. I'll have to pay their $25.00 early closure fee but it will be well worth it to never have to deal with this bank again. Stay away if you value your time and money. For purposes of helping people out - overdraft fees are charged based on your available balance. Pending charges affect your available balance but pending deposits do not when calculating overdraft fees. And even though the pending charges were included when they initially calculated the overdraft, you can be charged again for these when they actually post to your account.
BAINBRIDGE ISLAND, WASHINGTON -- I join the one-star folk here. Recently went into a Key Bank to withdraw $20 from its machine. Bad move. First, the bill that came out had about 20% or more torn off. Second, upon seeking to return it to the clerk for another, there was initially some reluctance to do so. THEN, when I decided I simply didn't want their service and asked for a refund of the $4 charge for it (compared to 4 banks around it charging only $3), this was denied all the way to the Executive Office of the President of Key Bank! Bad move. Should have never walked thru that door. Certainly won't in the future!
CANTON, OHIO -- They charged me close to 2k in overdraft fees. YES overdraft fees totaled this month. Not including the transactions. No lie. I have been round and round with them. I told them even with health conditions limiting my ability to get out, I shopped online a lot. If your card is ever stolen and used, they punish the customer for it. Meanwhile all my utilities are going back bounced. I've been inside the branch, on the phone, email... You name it. I got the same response... I have to wait 10 days. I offered to file a police report and was told I didn't need to. Now of course I can't make my dad's (79 years old) car payment due to all this.
LAKEWOOD, WASHINGTON -- This is the main reason I left Key Bank. I had one of their accounts where all business needed to be conducted through the ATM. I deposited a check into the ATM before noon. The next day, checks I had written bounced due to Key Bank failing to apply the funds the same day as promised in their consumer terms and conditions. They refused to waive fees and when I asked what about the fees I incurred with the retailers, they advised it was not their problem.
I also made a deposit with a live teller with cash. I paid a fee for this face to face interaction. On the west coast, end of banking day is 2pm. I deposited the cash before 2pm to cover checks... and guess what... the cash deposit was never posted for 24 hours. I kept the receipt showing date and time of cash deposit, they offered to waive 1 lousy fee out of 5... Key Bank BLOWS!
COLUMBUS, OHIO -- Key Bank is a scam. They don't practice good business techniques and I am closing all 3 of my accounts down asap just as quick as I got them. I am always told different information but their posting policy is the worse. I would never refer anyone to have their money stolen. I am running so quick. I cannot wait until my next off day!
WEST BLOOMFIELD, MICHIGAN -- I came to Key Bank when Brenda ** was the manager there. Brenda bent over backwards helping me set up a new business. She truly cared and it showed. She would actually call me to make sure an issue was resolved. She was a total delight to work with. Myron was a wonderful as well.
After that, the whole atmosphere of the bank changed. Joanne refused to help me in any way. I had two issues I needed help with and both times she handed me an 800 number and told me to handle it through them. After spending much time attempting to rectify the issues myself, I complained to corporate about her total lack of customer service, she must have been notified because she has made me pay ever since.
I inherited a substantial amount of money and one of your tellers (Alon) suggested I invest the money in a CD and quoted me a rate. I agreed and Tanisha started setting up the account. I called to finish the transaction and Joanne said "too bad, the interest rate you wanted expired yesterday and Tanisha is on vacation". After I called corporate, she called back and said she would honor the rate. I noticed another staff (Lisa) had picked up on her behavior as well and the few times I called, they would bounce me back and forth - keeping me on hold for ridiculous periods of time.
Last week I needed to send a wire transfer, I asked the price and Jill said $25.00. I was charged $30.00 and asked Tanisha about it. She said "Lisa make a mistake and I corrected her, however, I will not refund the $5.00 because you signed the wire transfer contract." Really?
I have never been treated like this before and am stunned that this seems to be acceptable by Key Bank. Alon will never receive credit for the $250,000 I would have invested with Key Bank had staff behaved in a competent manner. Alon has been a pleasure to work with. Key Bank lost an excellent customer that would have stayed with Key Bank for life had I been treated with respect. I hope their behavior was worth it for them, because it sure didn't benefit Key Bank.
WATERTOWN, NEW YORK -- Have banked with Key for about two years now. My husband went on deployment so I moved back to Georgia for nine months. I kept the account open to only find whenever I moved back up here late fees! Late fees for anything and everything. We work hard for our money but yet they charge us for everything! Make a deposit over the phone 2.00. Come cash your check with us 5.00. Don't make enough transactions each month 34.00. So I went into the bank to close my account yesterday.
The lady said I had a 34.00 overdraft free but yet I made a deposit into my account the day before? So she told me, "I wouldn't be able to close the account today due to pending activity on the account." She told me to come back tomorrow so what did I do? I went back in to only be told it would be 25.00 to close the account.
Are you freaking me??? You want me to pay you because I'm unsatisfied with how poorly you run your business!!! My favorite part is when she asked me, "Is there a reason why you're closing your account?" Why yes ma'am let me just get my list out as to why! It also doesn't help that they closed the Key Bank on fort drum so now I have to go out of my way and drive 20 minutes from where I live to be treated like a nobody and to be talked to like a dog!! Key bank can kiss my ass!!! Worst bank ever - will never ever ever recommend this bank even if it was the only bank left on earth!
ATLANTA, GEORGIA -- Back in 8/15/2016, First Niagara Bank which is now Key Bank took money out of my account unauthorized. Me and another person who has the exact name was mixed up somehow. This person has a loan with this company. So when I finally caught or seen what was taken out of my account I called them. I spoke to about 6 people in a period of 2 weeks, customer service rep, ACA department, manager. You name it!
I even gave them a tracer number. And they basically admit it was a misapply to my account and it's not me. There is another person with the same name. Our social security number don't match by far. And they still refuse to give me my 300.00 back. So it seem that I'm going to have to sue them for my money. If there is anyone who may be of some help with this please email me.
CLEVELAND, OHIO -- Every week there were new forms to be signed and new documents to be provided - new hoops to jump through. They provide a website to track the status of your loan - what documents you still need to get to them and what they still need to do before you can close. I applied for the loan 7 weeks prior to the date I wanted to close. I provided all requested documents promptly. Four weeks after I had first applied and three weeks before I was supposed to close I called to inquire about the numerous red flags still showing up on the website. Many of these flags were items I had provided weeks ago; others didn't make any sense; still others they had never even asked for.
The agent in their mortgage "service" center assured me that that would all get taken care of soon. The loan should come out of processing any day now and when that happened the flags would all get cleared up. He seemed quite irritated that I had even called to ask. Two days before I was supposed to close I called him because I still didn't have final numbers. He said it should be done "today". One day before closing he called me to request yet another document and - in passing - mentioned a "small" issue with the homeowner's association. But, still it should be done "today".
3 hours after I was supposed to close the local mortgage specialist called me to tell me that there was an issue with the HOA and they needed a letter that the HOA was not providing to them. Both she and the agent in their central mortgage service center were actively hostile when I put the blame on Key for the loan not closing on time - they had had 7+ weeks to get it done. Both blamed the HOA, my Realtor, and the seller's Realtor for the delays.
I was especially upset at their refusal to take any of the blame because every time I spoke with them I was assured that everything was fine and they always made it clear that I shouldn't have been bothering them with these concerns - the loan would close on time.
The issue with the HOA that was revealed 3 hours after the closing should have happened was with the delinquency rate on HOA fees; it required an exception through Fannie Mae to get the loan approved and that would cost me $200. In addition to costing an extra $200, it was also going to take at least a week to get the exception. I was very upset about this because every time I asked about the status of the loan I was assured everything was on track - right until the closing time came and went without closing! She informed me that I didn't have to go for the exception; of course if I didn't the loan was declined.
In my mind that's really not a choice. Just like when your computer crashes and says I've lost your data, press OK. No, it's not OK, but I don't have any other choice!! She refused to acknowledge that the "choice" she was giving me was really no choice at all. The only good thing I have to say about Key comes here - the exception got approved very quickly. They turned it around in less than 1 business day! But, from what I've seen of their business practices at the last possible moment is the only way they do things so I guess they've gotten quite good at it!
I could go on and on and list the numerous other things that they got wrong throughout the process, but I hope by now I've convinced you to take your business elsewhere. Their fees were lower than other lenders, but you get what you pay for. And many of the fees they advertised at the start of the process ended up being much higher in the end (those are the numerous other things I could go on and on about; suffice it to say the "surprises" added up to about $700 in extra fees by the end). I'll never get another mortgage through them; not even if they paid me!