How does it compare to Bank of America? Read our comparison chart below.
KeyBank has over 1,200 branches in 16 states. It offers a range of checking and savings accounts. Some relationship products offer perks like lower loan rates and higher savings APY. Key Bank has higher monthly service fees and heavier requirements to waive, but there is a free checking option.
While Bank of America is one of the largest banks in the U.S.
with over 5,000 locations and 16,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.
Compare KeyBank with Bank of America, side-by-side.
Read on for an in-depth look, including ratings, reviews, pros and cons.
Key Checking Account - $200 Bonus - Learn MoreRead KeyBank Review
Advantage Plus Banking Checking Account - $100 Bonus - Learn MoreRead Bank of America Review
Benefits and Features
|Savings||0.10% - 0.20% APY depending on amount.|
Features and Benefits
$10 minimum opening deposit. $4 monthly maintenance fee unless you 1) have $300 daily balance, or have 2) $5 monthly minimum direct deposit or recurring transfer from another Key account, or 3) have a HelloWallet Financial Wellness Score of at least 1.
|0.03% APY (up to 0.06% if enrolled in Preferred Rewards).
$8 monthly maintenance fee, unless you have 1) daily balance of $500, 2) are a Bank of America Preferred Rewards Client, or 3) link your Rewards Savings Account to your Interest Checking Account. Minimum deposit of $100.
|CD||Standard Term CD: 0.05% APY.|
Terms of 7 days to 10 years. Minimum deposit of $2,500.
Promotional CD: 0.05% - 0.74% APY. Terms of 11 and 27 months. Minimum deposit of $10,000.
|Standard Term CD: 0.03% - 0.75% APY.|
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Terms of 28 days to 10 years. Minimum deposit of $1,000.
Featured CD: 0.07% - 1.50% APY. Terms of 12, 13, 25, and 37 months.
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Minimum deposit of $10,000.
|Money Market||Standard rate of 0.05% APY depending on balance. (6-Month Variable bonus relationship rate of 0.22% APY for a minimum opening deposit of $5,000) $50 minimum opening deposit.
Monthly maintenance charge of $12.
Overdraft Protection, Options and Fees
Can be waived with $5,000 daily balance or monthly direct deposit of at least $25.00 or having a qualifying Key Checking Account.
|Customer Service||Telephone Service available 24/7||Mon-Fri: 8am - 9pm(ET)|
Sat: 8am - 8pm (ET)
Sun: 8am-5pm (ET)
|ATMs||More than 1,500 ATMs in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.||Approximately 15,900 ATMs around the country.|
|IRA CD|| ||Standard Term CD: 0.03% - 0.75% APY.
Terms of 28 days to 10 years. Minimum deposit of $1,000. Featured CD: 0.07% - 1.50% APY.
Terms of 12, 13, 25, and 37 months. Minimum deposit of $2,000.
|Locations||More than 1,200 branches in 16 states: Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.||4600 retail financial centres around the country and brances in more than 40 other countries.|
|Pros & Cons||Pros:|
- HelloWallet financial tools
- Free checking option
- 24/7 customer service
- Limited branches
- High account fees
- National availability
- Extended customer service hours
- Full service bank
- No free checking option
- Low interest rates
- Many misc.
|Bottom Line||Bank with a variety of deposit products and great financial tools... Read full review||National bank with widespread accessibility and wide range of services...|
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|What Others View|
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KeyBank: Pricing information from published website as of 01/10/2020 based on 44114 zip code.
Bank of America: Pricing information from published website as of 1/16/2020 based on 91107 zip code.
Read the in-depth reviews below. You may also be interested in comparing KeyBank or Chase.
In short: KeyBank's cd and checking are noteworthy.