The average checking account costs consumers around $170 per year and around another $56 per year for using an ATM outside of a consumer's bank network just once a month. The Key Smart CheckingSM account gives clients complete convenience with unlimited surcharge-free access to more than 1,400 KeyBank ATMs and 40,000 Allpoint ATMs nationwide for customers using a KeyBank debit card. Key Smart CheckingSM users will have a fully digital experience, with access to mobile and online banking, the ability to see all their money in one place with third-party account linking, and mobile deposit capabilities. Just like other KeyBank accounts, clients will be able to use Zelle® to send payments and enroll in EasyUp™, which allows users to save effortlessly and automatically pay down debt.
"We want to give our current and potential clients the banking experience they desire, especially as many navigate the challenges of this unprecedented global health crisis. For many, that experience involves an effortless checking account that meets all of their needs," said Chris Manderfield, Executive Vice President at Key Bank. "When clients have the tools to do more with their money, they'll be able to make smart decisions that open doors for their future.
Studies find overdraft fees and late payments cost Americans nearly $250 each year on average, but the ability to use your savings account as overdraft protection can help prevent those costs. Key Smart CheckingSM gives clients access to that and other tools that empower people to stay in control of their financial lives, which include:
- $0 Overdraft Protection Option by linking your savings account to a Smart CheckingSM account
- EasyUp, an automatic saving tool, which allows clients to save to pay down debt with each KeyBank debit card purchase
- Third-party account-linking for a complete view of all your money in one location
- Secure shopping with contactless debit and credit cards, as well as mobile remote deposit
"For new and existing clients, the launch of Key Smart CheckingSM is a great opportunity to take time for some financial self-care. Clients can take part in a Financial Wellness Review in any KeyBank branch to assess where they stand today, how they can plan for tomorrow, and whether this account is right for them. We're facing uncertain times ahead because of the current pandemic, and our clients need to be empowered without being burdened. Our Key Smart Checking account is a giant step toward helping our clients be confident about their financial future," said Manderfield.
About KeyCorp (NYSE:KEY)
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $171.2 billion at June 30, 2020. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,000 branches and more than 41,000 KeyBank ATMs and Allpoint surcharge free ATMs for many customers when using a KeyBank debit card nationwide. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC. ©2020. KeyCorp. CFMA #200810-853799
SOURCE KeyCorp
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