Date Received: 2015-08-26
Issue: Problems caused by my funds being low
Subissue:
Consumer Complaint: Bank charges me an overdraft fee but balance was enough to cover purchase
Company Response:
State: WA
Zip: 989XX
Submitted Via: Web
Date Sent: 2015-08-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-19
Issue: Problems caused by my funds being low
Subissue:
Consumer Complaint: I bank with Key Bank. I do not have overdraft protection.it was my belief if a check were to try to go through, and funds were not available, the check would be returned. I had a check to a payday loan ( should have been returned and they said I could do a payment arrangement when it was ). The bank paid the check, over drafting my account XXXX. This caused me to get XXXX I 'm return check fees, and additional fees because the acct was overdraft. I called and was told, " we can pay anything we want, we wo n't do a pay, ent arrangement, you can not pay it and we will eventually turn it into collections, in the meantime you will contain to get fees. '' So basically the bank can choose to pay a check and them collect XXXX of dollars in fees!
Company Response:
State: UT
Zip: 84117
Submitted Via: Web
Date Sent: 2015-08-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-06
Issue: Problems caused by my funds being low
Subissue:
Consumer Complaint: I was automatically signed up for a mileage account when I opened a HELOC. Since I did n't want to pay the {$30.00} fee, I closed out my XXXX account in 2008. I was refunded the {$30.00} fee. My account was charged the fee again the following year. I wrote letters, called my loan officer and customer service 800 numbers. No one listened. As a result my overdraft account has snow balled as fees and penalties keep being added to a fee that should have NEVER been there. My overdraft protection should be at zero, and I should have a positive balance in my bank account, because I pay {$97.00} a month, while my bill is {$96.00}. Bureau of CFP, please do n't reward Key Bank 's customer no service for failing to listen to me, then stealing my $ by adding fees and interest due to their incompetence. Most Sincerely, XXXX XXXX
Company Response:
State: OR
Zip: 97223
Submitted Via: Web
Date Sent: 2015-08-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-05
Issue: Forbearance / Workout plans
Subissue:
Consumer Complaint: I had a preferred checking line of credit ( XXXX ) thru Key Bank that functioned as either a credit card or cash loan. Due to medical expenses my limit was reached on this account. Key Bank customer service advised that I could open a Key Bank Platinum Card ( XXXX ) and transfer the previous balance to the new card at a lower interest rate. This was due to the increasing interest rate on the original card that made it difficult to keep up with payments.. The transfer would lower the interest rate. At this juncture I was expecting the original amount on the first card to be transferred to the new Platinum Card at a lower rate, then they dropped a bomb on me and advised that I could not transfer the balance to the new card. I advised them that I was unemployed at the time the new card was opened. And soon after the second card was opened, Key Bank began to raise the rate from 7.9 % to near 20 %. I kept falling behind and was unable to establish a payment program, the card rates were increasing and the penalties and interest made it impossible to repay the debt. I have since contacted them several times and offered to close the credit card accounts and convert the debt to a consumer loan in order to pay it back. They have refused all options to repay them and continue to charge me penalties. I now have little hope of ever paying this loan back unless they cooperate and realize that their manipulation, failure to close the first card, and charging me higher and higher interest with penalties has put me in this situation. The Bank was applying all my payments toward the finance charges and penalties and NOT the principal. This made it impossible to pay this amount off!
Company Response:
State: OR
Zip: 977XX
Submitted Via: Web
Date Sent: 2015-08-06
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-05
Issue: Making/receiving payments, sending money
Subissue:
Consumer Complaint: Key bank holds all transfers in from other banks and credit unions for XXXX business days before giving you access to the funds. I have a XXXX XXXX Card with Key. We have a XXXX checking at a Credit Union. We also have a checking account at Key, but have not been using it for XXXX banking for a year because the same problem existed there with holds for XXXX days. XXXX. We get checks for XXXX regularly. We have to deposit then disperse some of this money within a day. This was impossible with Key 's rules so we moved to the XXXX for the XXXX checking. Now when we do a bank to bank online transfer from the XXXX to Key to pay down the XXXXcard, Key will not release any funds over {$200.00} for XXXX full business days. I recently paid {$5000.00} to the XXXX on XXXX/XXXX/15. on XXXX XXXX/XXXX/15 I still could not charge anything to the XXXX. I needed to order a new laptop and XXXX could n't get the charge to go through. I finally switched to a personal XXXX CC so I could get the laptop ordered and on it 's way - to run my business. Key insisted this is their policy and they are within their rights and the law to do so. I feel this is a predatory, non-consumer oriented policy that is hurting small businesses like ours. I do n't have lots of cash sitting around to absorb these things. I have to make payroll, pay my agents, and pay my bills.
Company Response:
State: OR
Zip: 970XX
Submitted Via: Web
Date Sent: 2015-08-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-04
Issue: Can't repay my loan
Subissue: Can't temporarily postpone payments
Consumer Complaint: I took this loan out in 2006 prior to the financial collapse and new regulations of student loans. I have since made payments on this loan for the past 3 to 4 years until I have endured financial hardship and am unable to make payments. I requested an unemployment forbearance/deferment but was denied and was told my private student loan offers absolutely no temporary relief what-so-ever despite having paid on time for many years and never requesting a forbearance before. I have contacted several individuals at XXXX XXXX XXXX and KeyBank in an attempt to try to get some help but have been given the run around and repeatedly been given different answers. KeyBank should not be in the business of Student Loans. I 'll end up on the streets unable to rent or ever purchase a home because my credit will be ruined all because I could n't make payments to my student loans during a time of pro-longed unemployment. Since KeyBank affords no temporary relief during hardship and private student loans can not be discharged in bankruptcy, I do n't have any options left but to default on this private KeyBank student loan, face collection harassment, and an eventually a collections lawsuit I ca n't even afford to defend. There is absolutely no way I could immediately pay the remaining XXXX dollar balance immediately upon default as lenders demand and harass debtors with. Maybe if banks such as KeyBank would spend more time actually helping debtors find a job so they could actually pay their student loans, the student loan market would n't be in such a mess.
Company Response:
State: TX
Zip: 77388
Submitted Via: Web
Date Sent: 2015-08-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-07-30
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I had several IRA accounts that were held by XXXX. In 2013, KeyBank bought these accounts from XXXX. In XXXX of 2013, KeyBank closed these accounts - without my knowledge or permission. They supposedly mailed a check to me and they reported this to the IRS as they are required to do. I knew nothing about any of this until I received a bill from the IRS a few months ago, stating that I had unreported income in 2013 and owe them several XXXX dollars. KeyBank states that sometime in 2013, prior to them closing my accounts, they mailed a form to me to sign if I wanted to keep my IRA accounts open and active with them. I never received this form. I never received the check KeyBank issued in 2013. I never received a XXXX for submitting with my 2013 taxes from KeyBank. Any XXXX of these items certainly would have raised a flag with me.. I have been in contact with KeyBank on a very regular, often daily, basis trying to resolve this issue. They finally researched and agreed that I never received the funds. They are willing to send me a replacement check ( for POST-tax funds, not PRE-tax funds as the accounts were established ) *IF*, and only if, I sign an indemnity form holding them harmless and promise no legal action. This is as far as they are willing to work with me. I have attempted to contact XXXX XXXX XXXX XXXX, their Chairman and CEO, for assistance, and she passed my request on to their Executive Support Department. The executive customer support department maintains the same position, that this is solely my problem and that they will issue me a replacement check ( post-tax funds ) if I sign an indemnity form holding Key Bank harmless in all of this. Frankly, this is an unacceptable resolution. KeyBank is unwilling to : Take any ownership of the mistake they made Take any corrective actions for what they did Provide any documentation to the IRS on my behalf indicating that I did not receive these funds in 2013. Correct their mistake and either reopen the accounts or roll these funds into another tax deferred account - funds that they have been in possession of this entire time. KeyBank states that they are unable to because it would have to be a new account and IRS contribution limits apply. Frankly, this statement is a bit nonsensical to me. They closed the original accounts without my permission ; they can certainly go back and re-open them, especially since they have been in possession of my funds this entire time. It is really amazing to think that I can be made to pay taxes and penalties on funds that I never received. KeyBank needs to, and has the ability to, correct this situation by maintaining my funds in pre-tax status and submit amended and corrected information to the IRS, but they are unwilling to do so.
Company Response:
State: CA
Zip: 95765
Submitted Via: Web
Date Sent: 2015-07-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-07-29
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: I relocated in XX/XX/2014 and found there are no Key Bank branches in XXXX. Shortly after that I saw online that my checking account was being overdrafted due to interest charges and late fees on my overdraft line that caused the overdraft line to be over limit. I called the customer service line and told them I had not been receiving statements. I had multiple contacts with them during which I asked for statements, advised of my new address and requested to close my accounts they failed to update my address and refused to close the accounts. I received letters stating I owe and get calls while I 'm at work but still do n't receive statements ( even though I was promised that I would ). The letters are sent to my former address so they have n't even updated that. I also asked about how I can make payments and some representatives have allowed me to make payments via phone while others tell me this option is not available. I feel the conflicting information is a means of deceiving me and preventing me from paying so that they can continue to assess late fees. Finally in XX/XX/2014 I was directed to call my old branch in Indiana ( why had n't the numerous previous representatives I had spoken with advised me about this? ) and they were able to assist with closing the checking account. I called back to customer service and explained I had difficulty paying the account and asked if there was any way to work out an arrangement for monthly payments and no interest. I was told that this could be done but it was n't and the overdraft line kept accruing interest and late fees but Key Bank still was n't providing billing statements. In short, I have notified Key Bank of my address multiple times but they have failed to update it. I have requested billing statements but they refuse to provide it. I 've been lied to about acceptable methods of payments, how interest will be accrued, and that statements would be sent. Key Bank has refused to work with me despite my explaining I 'm willing to make regular payments. Perhaps the most disturbing thing is that they charged overdraft fees on my checking account due to late fees and interest that they assessed on my overdraft line even though they failed to provide statements for that account. This is an unfair and predatory practice. It is essentially a double jeopardy with the bank unfairly penalizing me for a situation that they created with their own negligence in failing to properly update their records upon notification.
Company Response:
State: TX
Zip: 77025
Submitted Via: Web
Date Sent: 2015-07-29
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-07-22
Issue: Billing disputes
Subissue:
Consumer Complaint: I have asked Key Bank to lower my monthly minimum payment on the two accounts that I have with them. I was in a debt management program for the last 4 1/2 years paying Key Bank {$270.00} on the one account and {$170.00} on the second. I have never been late with any of these payments. I have struggled through 4 1/2 year of making these payment but now since my balances have went down considerably from roughly {$24000.00} down to {$3400.00} I need my minimum payments recalculated to whats allowed by law. I have talked to Key Bank up management and they will not lower my minimum. I think its a disgrace for a person trying to do the right thing gets no consideration. I am currently trying to refinance my home but would not be able to with these current monthly minimum payment on credit card accounts. I will still pay more on these accounts to eliminate them but I need my minimum payments to reflect less so my debt to income ratio will work with my refi. My mimimum payment should probably be no more than {$75.00} or {$100.00} dollars. Even before I went into the debt management program my accounts were not past due. I have always paid them on time well before I got in the program.
Company Response:
State: OH
Zip: 44143
Submitted Via: Web
Date Sent: 2015-07-23
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-07-17
Issue: Applied for loan/did not receive money
Subissue:
Consumer Complaint: In XX/XX/XXXX, I applied for a home equity loan with key Bank for the amount of XXXX. I built the home in XX/XX/XXXX and with the use of my personal credit cards I bought items needed to finish the home. I applied for the equity loan with the option of paying off the balances of all credit card debt. Off. Key Bank was paying the credit card debt directly form the loan. The home was appraised at XXXX I have a XXXX dollar montage on the home. This low mortgage and the value of the home gives me the equity needed to pay off the credit cards, finish decks, sidewalks etc. I have NO debt other than my mortgage / which is XXXX a month. Taxes are XXXX per year, land and school. My income is XXXX per year. without credit card debt, i have the necessary income to live very comfortable financially. In XXXX, key Bank came back to me with an offer of XXXX. I rejected the offer as it was only paying off credit cards, not giving me enough to finish the touches around the house. My credit score at that time was XXXX. In XXXX, SOMEHOW.. A mistake was made to the credit agency XXXX. Key Bank reported that I had been late on a mortgage payment! This never happened. I called the mortgage company XXXX, told them of the situation they said, ( usalliance NEVER reported a late payment. That I have never been late ) I called XXXX they said, ( they did not receive a late report either. ) finally a Letter was Faxed to Key Bank stating that this was an Error with XXXX and was rectified..my credit score was at a XXXX standing on XX/XX/XXXX. Key Bank sends me a denial of loan based on.. Balances to high on all open accounts ( supposed to be paid off with loan. ON THE APPLICATION! ) Proportion of balances of loan amounts to high. Number of inquiries within XXXX months. ( only with Key Bank! ) Length of time since recent account open. How is this possible? You tell me how I was approved for XXXX in XXXX XXXX, if any of this is true. Then an ERROR WAS MADE ON MY CREDIT REPORT?! I am XXXX years young and BELIEVE that this is a clear judgement of AGE discrimination! I will wait for your response before consulting my attorneys. XXXX
Company Response:
State: NY
Zip: 124XX
Submitted Via: Web
Date Sent: 2015-07-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No