Is KeyBank a real bank?
Overview. KeyBank had assets of $185.9 billion as of Dec. 31, 2023, making it No. 22 on the list of the biggest U.S. banks.
FAQs. Is KeyBank a good bank? KeyBank is a well-known national bank with deposit accounts backed by the FDIC.
Your funds are eligible for FDIC insurance. Your funds will be held at or transferred to KeyBank, an FDIC-insured institution. Once there, your funds are insured up to $250,000 by the FDIC in the event KeyBank fails, if specific deposit insurance requirements are met.
- Fees: Monthly fees can be as high as $50, however they can be waived if significant balances across other KeyBank accounts are maintained. ...
- Overdraft fees apply: Overdraft fees apply for checks of more than $20 unless the account holder is enrolled in the overdraft protection program.
KeyBank allegedly “made materially false and misleading statements” about its liquidity that harmed investors when the truth came out and caused abrupt major drops in Key's stock price, attorneys from Brager Eagel & Squire claimed Tuesday in a class action lawsuit.
Overview. KeyBank had assets of $185.9 billion as of Dec. 31, 2023, making it No. 22 on the list of the biggest U.S. banks.
Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $188 billion on December 31, 2023.
JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.
Withdraw cash at any KeyBank or Allpoint ATM at no additional cost to you and surcharge-free. At participating merchants such as grocery or convenience stores. Transfer some or all your balance to a personal checking or savings account through the Key2Benefits website.
You can withdraw a maximum of $1,500 per day from any ATM with your debit card.
How stable is KeyBank?
Fitch Downgrades Keycorp to 'BBB+' from 'A-' on Revenue Pressure; Outlook Stable. Fitch Ratings - New York - 10 Oct 2023: Fitch Ratings has downgraded Keycorp's (KEY) and KeyBank National Association's (KBNA) Long-Term Issuer Default Ratings (IDRs) to 'BBB+' from 'A-', with a Stable Rating Outlook.
Features and Benefits
There's no monthly fee or minimum balance requirement for having Key Smart Checking. Pair with Key Active Saver® to easily transfer money, save with EasyUp, and avoid extra fees. The monthly fee for Key Active Saver is waived when you also have a KeyBank consumer checking account.
KeyBank Hassle-Free Account®. A Bank On certified product with no overdraft fees, monthly maintenance service charges or minimum balance fees.
It is unlikely to undergo any financial distress in the next 24 months. Probability of bankruptcy shows the probability of financial torment over the next two years of operations under current economic and market conditions.
DBRS has today downgraded the Long and Short-Term ratings of KeyCorp (Key or the Company) and its operating subsidiaries, including Key's Issuer & Senior Debt rating to BBB (high) from A (low), and the Long and Short-Term ratings of its operating bank subsidiary, KeyBank N.A. to A (low) from "A".
KeyBank, which operates in 15 states and has close to $200 billion in assets, would not say how many of its customers were affected or answer any other questions about the breach. In a statement, it said it was notified of the data theft on Aug. 4 and KeyBank systems and operations were unaffected.
Key is committed to the highest standards of ethical integrity. Our Code provides all Key employees and members of the KeyCorp Board of Directors with a set of uniform principles by which we conduct our business and ourselves.
First Niagara Bank and KeyBank merger.
KeyCorp began operations in 1832, as the Commercial Bank of Albany. After several name changes, the bank switched its name to "Key" in 1979.
Is KeyBank FDIC insured?
Banking products and services are provided by KeyBank, Member FDIC.
Key Smart Checking®
Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening. Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements.
- First Republic Bank (FRC) . Above average liquidity risk and high capital risk.
- Huntington Bancshares (HBAN) . Above average capital risk.
- KeyCorp (KEY) . Above average capital risk.
- Comerica (CMA) . ...
- Truist Financial (TFC) . ...
- Cullen/Frost Bankers (CFR) . ...
- Zions Bancorporation (ZION) .
The worst banks are Wells Fargo and Citibank. Wells Fargo is the worst bank overall, with a high percentage of unresolved complaints and loss of Better Business Bureau accreditation. Citibank has a string of high-profile cases involving operational chaos and regulatory fines.
| Bank | The Ascent's Rating | FDIC Insured? |
|---|---|---|
| Capital One | 4.50 | Yes |
| American Express® National Bank | 4.50 | Yes |
| Quontic | 4.50 | Yes |
| Chase | 4.50 | Yes |
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