Don't trust your money to this bank. Typically one would place money in a savings account and assume it's earning interest. In the case of Keybank they added an excessive fee to my existing account, and raided my savings account. If you place $500 in a savings account, how does losing $25 of that a year sound? How does accruing interest over several years sound, and then having Key Bank swoop in and take it all back by adding a fee to your account? It probably doesn't make sense to give them your money.
The story is, I have a savings account from 10 years ago, opened through HSBC at the time by my mother as a savings account for me. The branch was later purchased by First Niagara. I have a statement showing the account continued to earn interest. Eventually Key Bank bought the branch and took over my account. When they did, they added a $25 service fee to my account, and wiped out all of the interest that had accrued on the account. I found out today when I decided to close out this old account, found it was now with Key Bank, and the balance had dropped from my last statement. The bank isn't willing to waive the fees.
What is the bank's defense? I failed to update my address and so didn't receive an updated policy about the account. My take on that, don't trust Key Bank with your money. If you take your eyes off your savings account for a couple years, they will start taking your money. When you call and ask them to be reasonable they won't care. read more