KeyBank review (2026): Regional banking with low fees and minimums

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Summary: Based in Cleveland, Ohio, KeyBank is one of the biggest banks in the U.S., with over $190 billion in assets. It operates approximately 1,000 branches in 15 states: Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.

KeyBank offers three checking accounts for personal banking customers:

• Key Smart Checking®

• KeyBank Hassle-Free Account®

• Key Select Checking®

Both the Key Smart Checking and KeyBank Hassle-Free accounts have no monthly maintenance fees and a small $10 minimum opening deposit.

New Key Smart Checking customers could also earn a bonus of $300: To qualify, use offer code ADMA1225 to open your account by May 22, 2026. Then, make the $10 minimum opening deposit and a total of $2,000 or more in eligible direct deposits within 90 days of account opening. KeyBank will deposit your bonus into your account within 60 days of when you meet the requirements. Account must not be closed at the time of payment.

Meanwhile, the Key Select Checking account earns interest and provides a $100 cash bonus year after year with qualifying activities, though it comes with a $25 monthly maintenance fee (which can be waived by meeting certain requirements) and a $50 minimum opening deposit. New account holders could also earn $500 after qualified activities until May 22, 2026. To qualify for this bonus, you must open a Key Select Checking account and make the minimum opening deposit of $50, plus $5,000 or more in eligible direct deposits within the first 90 days of account opening. Your $500 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of payment. To learn more about this offer, visit KeyBank.

KeyBank offers four types of savings accounts:

• Key Active Saver Account®

• Key Select Money Market Savings Account®

• Health Savings Account (HSA)

• KEY4KIDS Savings Account®

The traditional savings account, Key Active Saver, has a $4 waivable monthly fee and a $10 minimum deposit, while the kids’ savings account has no monthly fees and a $10 minimum deposit. The money market account has a $5,000 minimum opening deposit and a $20 waivable monthly fee.

KeyBank offers short-term CDs with terms ranging from seven days to six months, as well as standard CDs with terms of six months to 10 years. A $2,500 minimum deposit is required. KeyBank also offers jumbo CDs that require a deposit of at least $100,000 and terms ranging from seven days to 10 years.

KeyBank offers four credit cards, offering various cash back, rewards, and perks. There’s also a secured credit card option.

KeyBank has a wide range of lending services, including mortgages and home loans, personal loans and lines of credit, vehicle loans, and student loan refinancing.

In addition to personal banking, KeyBank also caters to small business and commercial banking customers.

KeyBank’s fees aren’t exorbitant, but customers should be aware of them.

While two of the bank’s checking accounts have no monthly fee, Key Select Checking charges $25 per month after a three-month grace period. But you can avoid this fee by meeting one of the following criteria:

• Receive at least $3,000 in direct deposits per statement period.

• Have a combined balance of $15,000 or more across KeyBank checking or savings accounts, CDs, retirement accounts, or other investments.

KeyBank’s standard savings account, Key Active Saver, also has a monthly fee, but it’s much lower at only $4 per month. Like Key Select Checking, this fee is also waivable. To skip the fee, you need to have a KeyBank consumer checking account.

There are also certain fees for ATM use, overdrafts, and other account services:

Pros:

• Range of products and services: KeyBank’s product and service suite means you may find everything you need, including checking, savings, credit cards, investments, and loans.

• 24/7 customer service: KeyBank provides 24/7 customer service via phone — or you can chat with a representative online through the mobile app.

• Widespread branch and ATM network: KeyBank has approximately 1,000 branches and access to more than 40,000 KeyBank and Allpoint® ATMs.

Cons:

• High minimum deposits for certain accounts: There are relatively high minimum deposit requirements for certain CDs and money market accounts, which may be prohibitive for beginning savers.

• Monthly maintenance fees for certain accounts: Several accounts come with monthly maintenance fees. Plus, there are other fees to watch out for, like out-of-network ATM fees, overdraft fees, and wire transfer fees.

• Low savings interest rates: You can find higher savings interest rates elsewhere, especially at online banks. As of the time of this writing, KeyBank’s Active Saver account earns just 0.01% interest.

There are several ways to access KeyBank customer service, including a 24/7 customer service phone line. You can also access support, depending on the product or service you need help with, by calling specific phone numbers listed on KeyBank’s contact page. Below are a few helpful numbers:

If you’re an existing KeyBank customer, you can sign into your online account for access to MyKey, a virtual assistant tool. This service can even connect you to a client service professional during the following days and hours:

• Monday through Friday, 7:00 a.m. to midnight ET

• Saturday and Sunday, 8:00 a.m. to 9:00 p.m. ET

Finally, you can visit a KeyBank branch for in-person support. Find a branch near you using the bank’s locator tool.

For convenient banking on the go, KeyBank offers a mobile app available in the Apple App Store and Google Play store. Both versions receive high ratings of 4.7 and 4.6 out of 5 stars, respectively. In addition to accessing your accounts and customer service 24/7, the app lets you set up account alerts, lock and unlock cards, pay bills, transfer money, deposit checks, and more. The app also enables biometric sign-in for convenience and security.

A page on KeyBank’s website highlights its dedication to sustainability. Specifically, KeyBank announced several environmental targets in 2022 and is working to progress toward these goals. So far, the bank has financed $10 billion of its $38 billion goal to support environmental causes that address climate change. It’s also nearly reached the halfway mark of becoming carbon neutral by 2030 and has joined the Partnership for Carbon Accounting Financials (PCAF).

Read more: What is sustainable banking?

KeyBank’s headquarters are at 127 Public Square, Cleveland, Ohio, 44114.

You can reach KeyBank customer service anytime using the bank’s 24/7 phone line at 1-800-539-2968.

Yes, KeyBank is FDIC-insured (Cert. # 17534). This guarantees your deposits up to $250,000 in case of bank failure.

KeyBank has several routing numbers that vary by state. If you have a KeyBank account, you can find your routing number within your online account or by looking for the first group of numbers on the bottom left corner of a check. You can also consult KeyBank’s list of routing numbers by state.

Some of the biggest disadvantages of KeyBank include higher minimum deposit requirements for certain deposit accounts. It also charges monthly maintenance fees and out-of-network ATM fees. Additionally, you can find higher savings account interest rates elsewhere.

Unlike credit unions, where you have to qualify for membership, generally anyone residing in the 15 states they operate in can use KeyBank. There may be some limitations on certain accounts — for instance, you have to be 18 years or older to open an account on your own, and the Key4Kids savings account has age restrictions.