KeyBank is a regional bank with a mix of in-branch and online options. While it only has branches in 15 states, it offers a wide range of checking, savings and lending products, including basic accounts with no monthly fees, plus options for customers outside its branch network. Here's a closer look.
- Low minimum deposits on savings accounts
- Offers kids savings account
- No monthly service or minimum balance requirements on 2 checking accounts
- Earns interest on 2 checking accounts
- Low rates on savings and CDs
- Branches and ATMs only located in 15 states
- High minimums on its CDs
- High minimum requirements to waive monthly fee on checking accounts
KeyBank checking accounts
Key Smart Checking
- $10 minimum opening deposit
- No monthly service fee
- No minimum balance requirement
- $3 fee for using non-KeyBank ATMs
Key Select Checking
- Earns interest
- $25 monthly service fee (can be waived with at least a $15,000 combined balance in KeyBank accounts or a minimum $5,000 in monthly direct deposits from your employer)
- $50 minimum opening deposit
- No fees for using non-KeyBank ATMs
- Unlimited reimbursement
KeyBank Hassle-Free Account
- Earns interest
- $10 minimum opening deposit
- No monthly service fee
- No minimum balance requirement
- No paper checks
- No overdraft fees
KeyBank savings accounts
Key Active Saver
- Earns interest
- $10 minimum opening deposit
- $4 monthly service, unless you have a KeyBank checking account
Key4Kids Savings Account
- Earns interest
- No monthly service fee
- $10 minimum opening deposit
- Available to children under 18 when the account custodian is a KeyBank deposit or credit customer.
Key Select Money Market Savings
- $5,000 minimum opening deposit
- $20 monthly service fee, unless you have a KeyBank consumer relationship package checking account or maintain a minimum daily balance of at least $25,000 during the statement cycle.
- Unlimited check writing
- Tiered interest rates based on balance
KeyBank CDs
Short-term CDs
- $2,500 minimum opening balance
- Terms of 6 days to six months
- Earn the Relationship Rewards rate when you pair with a KeyBank checking account
Tiered long-term CDs
- $2,500 minimum opening balance
- Terms of 6 months to 10 years
- Earn the Relationship Rewards rate when you pair with a KeyBank checking account
High-yield jumbo CDs
- $100,000 minimum opening balance
- Terms of 7 days to 120 months
- Earn the Relationship Rewards rate when you pair with a KeyBank checking account
Other products offered
KeyBank also offers a variety of other products, including:
- Home loans and mortgages
- Loans and lines of credit
- Credit cards
- Investment products
- Insurance products
- Debt consolidation
How KeyBank compares
While KeyBank offers a wide range of products to fit different needs, EverBank also offers higher yields on its savings, money market accounts and CDs. The Everbank's Performance℠ Savings, Performance® Money Market and Performance® CDs have no monthly fees and no minimum balance requirements. Plus, if you want to transfer funds quickly, you can easily link with the EverBank Checking for seamless access.
EverBank Performance℠ Savings
Annual Percentage Yield (APY)
3.90% APY
Minimum balance
None
Monthly fee
None
Maximum transactions
Up to 20 external transfers per day, with a maximum of 10 transfers from a linked external account into your EverBank accounts and 10 transfers from EverBank to external accounts. Up to 50 total external transfers per month.
Excessive transactions fee
None
Overdraft fees
N/A
Checking account
Yes
ATM card
Yes
Terms apply.
Pros
- Earns a competitive APY with no minimum balance.
- Free ATM card and no ATM fees
Cons
- Limited branch locations
EverBank Performance® CDs
Annual Percentage Yield (APY)
From 3.50% to 4.05% APY
Terms
From 3 months to 60 months
Minimum balance
$1,000 minimum deposit
Monthly fee
None
Early withdrawal penalty fee
Early withdrawal penalty may apply.
Terms apply.
Pros
- Above-average APYs
- Range of CD terms
- No monthly fee
Cons
- $1,000 minimum deposit required
- You can’t access your money before your CD term ends
- Early withdrawal penalty fee
- Limited physical branch locations
Happen Bank is also fully online but it comes with great perks on its accounts, especially its LevelUp Checking Account, which offers 1% unlimited cash-back on qualified purchases with your debit card and interest on certain balance requirements. There are also unlimited surcharge rebates for ATM fees charged by other banks and ATM owners.
The LevelUp Savings also offers no monthly fees and a solid rate that's broken up into two tiers depending on requirements.
Happen Bank LevelUp Checking
Annual Percentage Yield (APY)
1.00% APY applies to balances of $2,500.00 and greater; no APY if don't meet requirements
Minimum deposit to open
$25
Minimum balance
None
Monthly fee
None
Free ATM network
None
ATM fee reimbursement
Unlimited surcharge rebates for ATM fees charged by other banks and ATM owners
Overdraft fee
None
Mobile check deposit
Yes
Terms apply.
Pros
- High APY for a checking account
- Low minimum deposit required
- No minimum balance
- No monthly fees
- Offers ATM fee surcharge rebates
- No overdraft fee
Cons
- Requirements to earn APY
- No ATM network
Happen Bank LevelUp Savings
Annual Percentage Yield (APY)
4.00% (with monthly deposits of $250 or more), or 3.00%
Minimum balance
None
Monthly fee
None
Maximum transactions
None
Excessive transactions fee
None
Overdraft fees
N/A
Offer checking account?
Yes
Offer ATM card?
Yes
Terms apply.
Pros
- Strong APY
- No minimum balance required
- No monthly fees
- Free ATM card and no ATM fees
Cons
- At least a $250 monthly deposit required to earn the highest APY
- No physical branch locations
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