Checking FAQs
Personal Checking Account Basics
A checking account is a convenient way to protect and access your money. For example, you can have your paycheck automatically direct deposited into your checking account and pay your bills directly from there. A checking account can also help you keep track of your account balance and spending.
There are several things to consider when choosing the best checking account:
- Which accounts have monthly fees or service fees, and how can I avoid them?
- Is there a minimum balance requirement, and can I maintain that balance?
- Does this account come with free ATM use?
- Does this account earn interest?
- Does the account have features that simplify money management?
KeyBank checking accounts come with features and benefits that make managing money easy.
Top Checking Account Features for Managing Money
- Early Pay with Direct Deposit
Easily set up direct deposit to your KeyBank account and you could get paid up to two days sooner.1
- EasyUp®, Automatic Savings
Use EasyUp to build up savings or pay down debt without even thinking about it.
- Key Coverage Zone®
If your account’s overdrawn by $20 or less at the end of the day, you won’t see an overdraft fee2 from KeyBank.
- Account Alerts
Set custom account alerts so you can receive text or email updates about the account information that's important to you.3
Learn more about KeyBank checking accounts.
Debit cards look just like credit cards but have a few important differences. A debit card is linked directly to your checking account, so when you make a purchase with it, that amount is deducted from your account. A credit card is treated more like a loan. You have extra time to repay the credit card amount but may be charged interest if it isn’t paid in full, and on time.
A KeyBank debit card can help you keep within your budget to avoid overspending, plus it can be used at ATMs and millions of retailers worldwide that accept Debit Mastercard®. Debit cards are available with any KeyBank checking account. A credit card’s ability to pay for emergencies can bring you peace of mind when you don’t have the funds in your checking account.
Your KeyBank Debit Mastercard®4 has an embedded chip, which is the latest technology available to keep your information safe. When you check out at a chip enabled point of sale, you may be asked to put in a personal identification number (PIN) to authorize the transaction.
Checking accounts are bank accounts maintained by financial institutions in which a customer can deposit and withdraw money. Checking accounts work by quickly and easily letting you add and deposit money in a variety of ways, including with checks, online and mobile banking, including mobile check deposit, with a teller, at ATMs and by using electronic debits or ACH payments. With checking accounts, there is typically no limit on the number of deposits and withdrawals that can be made in a month.
Yes. KeyBank checking accounts are FDIC-insured.
It’s easy to withdraw cash from your checking account anytime using your debit card at an ATM or by visiting a branch. You can also take money out of your account by writing checks, making payments in online and mobile banking, and sending money to friends and family with person to person protocols, such as Zelle®.
You can quickly and easily close your KeyBank checking account by calling us at 1-800-KEY2YOU or by visiting a branch. To close a joint checking account, one owner will need to visit a branch.
To close your KeyBank checking account, you’ll need to make sure you don’t have any pending transactions that would hit after the account is closed. This will help you avoid fees from the entities expecting payments from the account.
When you close the account, we’ll give you a cashier’s check for the account balance or transfer that amount into another account you have opened here or at another institution.
Yes, you can cash a money order at a local bank or credit union, and there may be a fee associated with that. Or, you can deposit it into a bank account for no fee.
The main difference a between checking and savings account is that checking accounts are for everyday use and savings accounts are for longer term saving.
They’re both deposit accounts, so they both allow you to access your money, but there are some differences.
Savings accounts are great for making sure you have money available for emergencies or large purchases, and don’t spend it on everyday purchases. You’ll still be able to access your money by ATM, in online and mobile banking and with the help of a bank teller. They typically have higher interest than checking accounts and that interest will accrue over time, helping you grow your balance.
Checking accounts don’t limit the number of transactions that can be made per month. And, to make managing money easier and more convenient, checking accounts can come with debit cards, check books, online and mobile banking, and other digital tools you can use to quickly access cash, pay bills and pay friends and family.
Checking Information
You can view your account activity in any of the following ways:
- Sign on to Online Banking
- Use KeyBank’s mobile app
- Check your mailed statement if you are not enrolled for electronic statements
- Get mini statements at a KeyBank ATM
- Call 1-800-KEY2YOU® (1-800-539-2968) and follow the voice prompts. Dial 711 for TTY/TRS.
- Visit a branch
You can order your personal checks with any of these easy options:
Online
- Use the Mobile App
- Order in Online Banking
- Order directly with Harland Clarke5, our preferred check provider
In person
- Visit your local KeyBank branch
By phone
- Call 1-800-355-8123 (Be sure to have both your account and routing number ready). Dial 711 for TTY/TRS.
The routing number is located on the lower left-hand corner of your check. You can find out more about the location of the routing number, including viewing a sample check, by clicking here, or by speaking with a KeyBank representative at 1-800-KEY2YOU® (1-800-539-2968). Dial 711 for TTY/TRS.
To add an authorized signer, visit a KeyBank branch.
The availability of funds depends on the type of deposit you make and how it is deposited.
Same-day availability: Direct deposits of electronic payments, such as Social Security benefits and payroll direct deposits are available on the business day (excluding weekends and legal holidays) that the funds are due to you. Wire transfers received by 6:00 p.m. ET, cash deposits made in a KeyBank branch and cash deposits made at a KeyBank image ATM are available on the business day of deposit. Check deposits made at a KeyBank branch before closing and/or at a KeyBank ATMs before 7:00 p.m. local time on business days will have $100 of total check deposits available the same day and the rest will be available the first business after the day of your deposit if there are no holds on the account.
Some mobile check deposits made using the KeyBank mobile app may have the option to select Immediate Funds℠ 6 for a fee of 2% of the deposit or at least $2. Immediate Funds requests made before 11:00 p.m. ET will have immediate access to funds. Requests made after 11:00 p.m. ET will have immediate funds availability for ATM withdrawal and point-of-sale transactions. However, it will take until the next business day for the funds to be available to cover overdrafts or other transaction types. For more information, review our Funds Availability Policy
Next-Day availability: U.S. Treasury checks payable to you, wire transfers received after 6:00 p.m. ET on a business day, and check deposits made at KeyBank ATMs prior to 7:00 p.m. local time are available the next business day if there are no holds on the account. ATM deposits made after 7:00 p.m. local time on business days or anytime on weekends or legal holidays will be considered deposited on the next business day and be available the following business day. Checks drawn on KeyBank National Association as well as in-person branch deposits will generally be available for withdrawal on the next business day. Deposits made by 11 p.m. ET in the KeyBank mobile app will be available the next business day.
Exceptions
There are a few exceptions that may delay your funds availability. If we delay your ability to withdraw funds for any of these reasons, we will notify you and tell you when the funds will be available.
Reasons for delay include, for example:
- We believe a check you deposit will not be paid.
- You deposit checks totaling more than $5,525 on any one day.
- You redeposit a check that has been returned unpaid.
- You have overdrawn your account repeatedly in the last six months.
- There is an emergency, such as failure of computer or communications equipment or other conditions beyond our control.
- You are a new client with a checking account opened for fewer than 30 days.
In case of a delay, your funds will generally be available for withdrawal no later than the fifth business day after your deposit.
More information, see our full funds availability policy, call 1-800-KEY2YOU® or visit a nearby branch. Dial 711 for TTY/TRS.
KeyBank uses state-of-the-art technology to ensure your information is kept safe. We deliver a secure environment through a variety of methods, such as encryption, firewalls, and customer-controlled passwords.
Report the incident or theft as soon as possible, by contacting KeyBank at 1-800-KEY2YOU® and following the voice prompts. Dial 711 for TTY/TRS. We also recommend you check your account online for potential fraudulent transactions. Learn more.
KeyBank offers detailed information about overdraft fees online, or you can speak to a representative.
You can quickly find your account number without a check in online and mobile banking—just sign on and select the account details. If you need help, contact us at 1-800-KEY2YOU.
Online and Mobile Banking Benefits
You can download the KeyBank mobile app and enroll. Within the mobile app you can:
- View account balances and statements 24/7
- Transfer funds between your KeyBank accounts and from an external account
- Make payments to existing payees and add new payees
- View and cancel scheduled Bill Pay7 payments as well as set up new payments and payees
- Search and view your transaction history for the last 90 days
- Make mobile check deposits
In online and mobile banking, select your account, choose “More” and then “Manage Alerts”.
Some alerts are available via email only. Certain alerts are listed as Mandatory alerts, meaning we’re required by law to notify you. You’ll receive emails for those alerts automatically.
Bill Pay7
Bill Pay allows you to pay your bills online without writing paper checks, buying stamps, or going to a post office.
Bill Pay is free for standard delivery of your electronic payments. If you need to get a payment out ASAP, use our Expedite Payment8 option with same day or next business day delivery date.
If you need a payment delivered on the same or next business day, we offer an Expedite Payment option, with same or next business day delivery. Our expedited payment option is available for $9.95. Just click the “Expedite Payment” after you select your payee. (Note: Expedited payments cannot be modified or canceled.)
Electronic expedited payments are sent immediately. The payment may take up to one business day to process but should be backdated to the date that you requested the expedited payment.
In some instances, you may not be able to edit the address information as KeyBank may already have a relationship with that payee and have the necessary billing information on file.
Yes. Multiple bill payments can be made when in online banking by selecting “Access Additional Bill Pay Features” above your payees. At this time, multiple payments cannot be made in Key’s mobile app.
Applying for a Personal Checking Account
To apply for a new checking account, you'll need the following:
- Your Social Security number
- One valid form of primary identification (i.e., driver’s license, valid passport, government-issued ID with photo and signature)
- Minimum opening deposit required (amount varies depending on type of account)
When the checking account application is submitted and approved, you’ll see your account number. You can use your account number to immediately enroll in online and mobile banking.
If you elected to receive a debit card, it will arrive 5-7 days after you make the initial deposit in your checking account. If you elected to receive checks, they will arrive in 10-14 days.
Once you’re at least 18 years old, you can open a KeyBank checking account independently online or in a branch.
If you’re at least 13 years old but under 18, parents or legal guardians may visit a branch to open an account in your name with themselves as the co-owner.
Yes, there aren't any restrictions on how many accounts you can open, whether at the same bank or at different banks.
Joint checking accounts are one account that has two owners, each with full control. So the account is shared and both owners may deposit and withdraw money. Usually, joint accounts are held by an individual, their spouse, partner, family member or business partner, but any two people can open a joint checking account together.
You can open a joint checking account in a branch or by phone. You may open an individual account and add a joint holder later, or you can open the account at one time together. You’ll both need to provide the personal information, including email, name, address, phone number, date of birth and Social Security number.
Typically, opening a checking account does not trigger a hard pull and does not hurt your credit score. Closing a checking account won’t usually affect your credit score, but it could if you close the account with a negative balance.
Helpful Links
KeyBank provides several ways for customers to research checking accounts and determine the right fit. For example, you can:
- Review features via our Compare Checking Accounts
- Call and speak with a representative
- Visit a local branch
1
Early Pay is a service included with your KeyBank consumer deposit account in which KeyBank makes your eligible direct deposits available up to two business days early. Eligible direct deposits include certain transactions such as payroll, government benefits or similar types of payments. The Early Pay service is dependent on when KeyBank receives information from the payer that the funds are on the way, this could vary, and you may not always receive your funds early.
2
Overdraft Item Charges are $20 per item. Charges apply to transactions created by check, in-person withdrawal, recurring debit card transactions, or other electronic means. Overdraft charges will not be imposed on ATM withdrawals or one-time debit card items unless the customer has opted in authorizing Key to pay these items into overdraft and assess a charge. You agree to pay us the full amount of any overdraft on your Account immediately upon demand, together with any additional charges we assess. KeyBank’s approval of overdrafts is a discretionary courtesy. For Consumer accounts: No charges will be assessed when the account is overdrawn twenty ($20) dollars or less at the end of the day. Overdraft charges are assessed on up to three (3) items per day, with the maximum not to exceed $60 per day per account. Overdraft charges may not post on the same day as the transaction which triggers the fee(s). There is a cap of 20 assessed overdraft charges within a monthly statement period. If at the end of the day, your account’s overdrawn available balance is more than $20 for 5 consecutive business days, an additional $20 Recurring Overdraft Service Charge will be assessed. See your accounts Personal Checking Account Fees and Disclosures for additional information.
3
Message and Data rates may apply from your wireless carrier.
4
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
5
KeyCorp is not affiliated with, maintained by, or in any way officially connected with Harland Clarke or any of its business units.
6
Immediate Funds℠ is available in the KeyBank mobile app as an option for eligible mobile check deposits. You will also have the option for a standard deposit at no charge. The Immediate Funds fee is 2% of the deposit amount, with a minimum fee of $2.
Immediate Funds requests made after 11:00 p.m. ET will have immediate funds availability for ATM withdrawal and point-of-sale transactions. However, it will take until the next business day for the funds to be available to cover overdrafts or other transaction types. For more information, review our Funds Availability Policy.
7
Bill Pay is subject to terms in the Online Banking Service Agreement.
8
Fees Apply. Review Expediated Payments Terms and Conditions.
