Date Received: 2022-04-20
Issue: Closing an account
Subissue: Can't close your account
Consumer Complaint: I recently moved from XXXX to XXXX Part of that process involved closing my KeyBank account. I called KeyBank on XX/XX/XXXX to try to have my account closed. I had a positive balance at that time. The KeyBank representative refused to close my account. They said that because I had moved, they were unable to close the account. My understanding of the law is that if I have a positive balance and no ongoing obligations ( ie, loan servicing ) tied to the account, that I am allowed to close out a bank account any time for any reason at my sole discretion. Furthermore, it is ridiculous that moving would prevent the closure of an account. Moving is probably the most common reason to close an account for the majority of consumers. I believe they are following a policy like this to aggregate overcharge payments from people that are making a move. Basically, a certain number of people are going to end up with charges from forgetting to move this or that to the new account, and if KeyBank keeps their accounts open, they can then charge overdraft fees on these erroneous charges. Do this a few million times and that is some real money, but it is predatory and I believe it is illegal. An account in good standing should be closed in timely fashion when the customer requests it. The bank has no inherent and unilateral right to a relationship with me as a consumer. Several weeks passed, and XXXX erroneously charged my old card number tied to KeyBank instead of the new card tied to my new XXXX account. This placed my KeyBank account {$35.00} in the negative. In the meanwhile, KeyBank also charged me {$7.00} " maintenance fee '' and a {$3.00} " paper statement '' fee. Now they are demanding an overdraft fee in addition to the money they are charging me to " maintain '' and report on an account I do not want and have requested they close. I offered to pay the balance. They told me I could pay by card over the phone to avoid the late fee. They then transferred me and the new person told me that I would have to subscribe to something called XXXX to make the payment and they could not take the payment over the phone. This is a " Tie-In '' antitrust violation. They also admitted that I would still get charged the overdraft fee because the money wouldn't transfer fast enough. People are tired of the greed and they are tired of the scams. They think they can XXXX a million people out of small amounts and get away with what is in aggregate a very large and very crooked haul. Please help me close my account with these dishonest scoundrels.
Company Response:
State: VA
Zip: 22901
Submitted Via: Web
Date Sent: 2022-04-20
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-20
Issue: Opening an account
Subissue: Didn't receive terms that were advertised
Consumer Complaint: Started opening a checking account online, then had to visit closest location because I couldnt go any further online for set up until I physically had the account number or debit card. XX/XX/22 went into Keybank in XXXX XXXX, XXXX to finish opening the checking/savings accounts, also possibly mutual funds. I thought everything was on track until my debit card never came, and keybank froze the checking account unannounced, which subsequently affected my direct deposit I had set up, do the funds were sent back. I incurred unnecessary charges because I had to use my credit card to pay rent, and the employer incurred unnecessary charges because the funds were rejected by keybank. After a discussion over the phone with XXXX from Keybank about the charges, they refused to take responsibility for the incident. After 3 weeks of pestering him almost every 2 days about the debit card I finally received it after calling the customer service line for the second time in this period. They did finally XXXX it to me overnight. XXXX had every excuse in the world why it wasnt keybanks fault, and I believe lied to me on multiple occasions about the status of the debit card. It sure is interesting that everything as far as funds for them to look good went as smooth as silk. The funds transfer to there credit card, moving monies from a previous institution to there bank all went without a hitch. KEYBANK had the nerve to tell me, they sent me a letter about freezing my account, I still have not received it. All these debit cards that XXXX supposedly requested before I got mine, youd think they wouldve showed up after 3 weeks, nope. Finally he asked me to send him proof of the unnecessary charges, that he was going to present them to his manager, but no promises. I did as XXXX asked to try to recoup over {$100.00} because of them. Still have not heard a squeak. I have to keep prodding him along to get any kind of answer. Most of the time its just sorry. Ive heard empty sorries so many times now, its a slap in the face more than anything from XXXX, XXXX, and everyone at keybank XXXX XXXX, and online customer service.
Company Response:
State: OR
Zip: 97035
Submitted Via: Web
Date Sent: 2022-04-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-19
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: Predatory Practices by KeyBank After discovering the fraud of XXXX XXXX in opening fictitious savings accounts in our names, my XXXX XXXX husband and I decided to close our accounts with them and were looking for a new bank. We received an offer of KeyBank XXXX XXXX Checking Account - {$300.00} Bonus. We decided to try KeyBank believing that they couldnt be any worse than XXXX XXXX. We were to discover the hard way ; how wrong we were. I explained to the KeyBank employee why we had closed the XXXX XXXX accounts and why we were going to open an account with KeyBank. The first problem we ran into was that KeyBank was not forthcoming about giving their new customers the so called {$300.00} bonus. I spent weeks contacting KeyBank to see why they did not fulfill their offer and wasting valuable time that should have been spent on my XXXX XXXX husbands care. After many excuses, we finally received the bonus. Believing that was a single problem that occurred, we continued our business with Key bank. During a couple of inside branch visits, it was strongly suggested that we move most of our money from the checking account to a savings account as it would be safer in the event of our debit card being stolen. It seemed a reasonable explanation, so we did that. The irony is that our monies werent at risk from stolen debit cards, they were at risk from KeyBank nickel and diming us to exhaustion. I describe to people that it is like asking the fox to guard the chicken coop. During the time that I was full-time caregiving for my husband as he was XXXX, I was having to babysit our KeyBank accounts after finding more fees charged to our savings account. It appeared to us that this was the strategy to make back the {$300.00} bonus that was offered to KeyBank customers. After seeing the charges to our savings account, I contacted the bank, and our savings account was switched to another type. There should not have been any issues to begin with as I explained explicitly what the savings account was going to be used for. Thinking that the savings account issues were resolved, I was able to attend to my husband and then upon death, begin planning his funeral. A few weeks ago, I discovered that our savings account had more fees charged to us. I decided that I no longer wanted to deal with these ongoing issues and called the bank to arrange closing the account. That same day, I called several other banks ( local ; national ; large ; small ) asking about their policies regarding fees, in particular, The Federal Reserve 's Regulation XXXX The banks told me that they were aware of The Federal Reserve 's Regulation D however, Because of COVID, Reg D has been temporarily suspended, and no resumption date has been announced. I then called the Federal Reserve Board in XXXX XXXX, to confirm and they did so. I was also referred to the 10th District, Federal Reserve Bank, and the XXXX branch of the Federal Reserve Board. I received the same confirmation. A couple weeks ago, I went to the KeyBank branch to close our savings account. I asked the employee, facetiously, There isnt a fee to close the account, is there? He actually paused and was calculating. It was explained to me that they didnt have enough money at the branch to give me cash. I told them a check was fine as I knew I was going to deposit at a bank that was following the Federal Reserve Board guidelines about suspension of Regulation D. Again, I asked facetiously, There isnt a fee for the check is there? I was speechless when the employee told me there was. But they graciously waived it. To this day, I am utterly amazed and still can not believe this bank, that I thought was going to be more honest than XXXX XXXX, turned out to be so much worse. Duplicity is never a good business plan and my husband, and I have always tried to avoid businesses that use duplicity as part of their business plan. Im also thoroughly disgusted that upon receiving a call from KeyBank which I thought was to settle the issues, I was instead told that The Federal Reserve 's Regulation D and suspension of it didnt apply to KeyBanks policies. Interesting that the other banks are following the suspension. I even said, So the Federal Reserve Board is lying? They were confused and didnt know what they were telling me? It is a shameful, that KeyBank has no qualms about draining their customers accounts by nickel and diming them along the way. Even worse, is that they were financial predators with seniors, on a fixed income, and dealing with a spouse terminal illness. Our file on KeyBank is an inch thick. I wish we have never allowed ourselves to be reeled in by a so called {$300.00} bonus for opening a new customer account with them. I feel that the XXXX charges and money that Key bank deducted from our savings account should be refunded, especially in light of The Federal Reserve 's Regulation D-Reg D has been temporarily suspended, and no resumption date has been announced. I also called XXXX XXXX and the XXXX XXXX, and XXXXXXXX Branch to advise them that according to KeyBank, the Federal Reserve is confused, doesnt know what they are talking about, and that KeyBank does not have to follow their rules of suspension.
Company Response:
State: CO
Zip: 80234
Submitted Via: Web
Date Sent: 2022-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-19
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: KeyBank and XXXX XXXX have completely mishandled my loan application process. They have given me countless pieces of FALSE information regarding a MAJOR financial decision. They are misleading and never explained to me that KeyBank and XXXX XXXX are actually the same company. XXXX XXXX even made claims that their loans were better and that the process is completely different with XXXX. Not until late in the closing period did they tell me they wouldnt be able to help me since I already had an application in process with Key. Additional false information given to me by XXXX XXXX XXXX was : 1. Husband and wife applying together holds the same financial liability as one spouse applying separately ( my wife has XXXX XXXX ) 2. A new application cant be opened easily if I want to remove my wife from the application 3. XXXX XXXX and Key are not the same bank and have entirely different teams and processes. Appraisal can not be transferred from one to the other. 4. A bad appraisal can not warrant a new one being ordered. Ill be hiring a lawyer. See you in court. Havent had this issue with other lenders. I wonder if XXXX XXXX has anything to do with this.
Company Response:
State: PA
Zip: 19125
Submitted Via: Web
Date Sent: 2022-04-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-19
Issue: Getting a loan
Subissue: Denied loan
Consumer Complaint: I am the co-signer to an application for student loan consolidation for my daughter. XXXX XXXX engaged in significant delays asking for the same information repeatedly, then denied the application. One representative coached me to falsify submitted documents. Another breached my confidentiality by disclosing information to the loan application on XX/XX/2022. Another also breached confidentiality while i was on the phone with my daughter on XX/XX/2022, but i never provided approval for the information to be divulged.
Company Response:
State: NY
Zip: 140XX
Submitted Via: Web
Date Sent: 2022-05-10
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-18
Issue: Problem with a purchase or transfer
Subissue: Charged for a purchase or transfer you did not make with the card
Consumer Complaint: I got a message from XXXX saying that there was a problem with the website and my information my have been seen on the website. I was XXXX with XXXX and when I was in the XXXX someone got access to the account and used money when I was in the hospital. When i got out of the XXXXl .I could not talk clearly. I email key bank and got a letter in the mail saying they got the complaint. I don't receive anymore information from them so I called and was informed there was no complaint so I file another complaint. I didn't get a response so I called again and was told that my account was closed. After that I got XXXX letters from my bank about identity theft and was denied.
Company Response:
State: IL
Zip: 60411
Submitted Via: Web
Date Sent: 2022-04-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-17
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: on XX/XX/XXXX I took out a home equity loan to help fund the opening of an XXXX XXXX to help increase our income. This was an interest only loan. All payments were made on time. When XXXX hit the US in XXXX we were forced to close down. Being a small family restaurant, run by my wife, daughters, and grand daughter we could not financially manage to stay current with all our bills. This closure lasted for a year. as a result I contacted Keybank to see if we could get help. They granted us a forbearance which ended in XXXX XXXXI then tried to get some other type of help from them. It took almost XXXX months after many applications, only to be denied. I appealed the denial twice. After the first denial a representative from XXXX told me about XXXX XXXX different options that may be available for us, so I filed a XXXX appeal, only to be denied again. When I called to find out why I was told that my loss of income from the closing of our restaurant should be claimed on our tax return and not acceptable on an income statement. Other than XXXX this business was our only source of income, so that's why it was denied, every time. I now owe more than the original loan was and there advice was to sell my house to pay back the loan. I asked about paying back a lesser amount, as they previously said to satisfy the loan but said I didn't qualify due to lack of sufficient income. Now they say foreclosure is next. The forbearance section of Keybank is next to Impossible to work with. We lost income, our Business, and some kind of peace of mind by no fault of our own, At XXXX XXXX XXXX I really don't want to lose our house on top losing income, a business and both our mothers all in XXXX. Keybank needs to step up and help clients rather than there bottom line.
Company Response:
State: NY
Zip: 130XX
Submitted Via: Web
Date Sent: 2022-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-16
Issue: Problem caused by your funds being low
Subissue: Overdrafts and overdraft fees
Consumer Complaint: On XX/XX/22 transferred in enough money from one bank account to cover check. Seems it was past a cutoff point and didn't apply until the next day. Had to deal with some emergencies related to a sick cancerous child. On XX/XX/22 my check posted but I was charged not one but TWO overdraft fees. A tier 2 overdraft fee in fact. Called in to see if I can have a courtesy overturn but was advised that they couldn't be reversed for an arbitrary reason. Now I'm concerned with this bank as I've done enough business with them already, including buying a house. What more do they want?!
Company Response:
State: PA
Zip: 150XX
Submitted Via: Web
Date Sent: 2022-04-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-16
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: I received a debit card from key bank for a fraudulent account opened with my ss number The bank knows about the identity fraud. Said it would be closed
Company Response:
State: ME
Zip: 040XX
Submitted Via: Web
Date Sent: 2022-04-16
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2022-04-12
Issue: Managing an account
Subissue: Fee problem
Consumer Complaint: I have a mortgage account XXXX and a linked checking account XXXX with key bank. In the statement of checking account, it says we get monthly fee waive with mortgage account. But I got charge for monthly fee XXXX on XX/XX/2022. They refused to refund me and says I didn't set ACH correctly without telling me ahead of time at all. In addition, in the online portal no way to pay from other account besides transfer.
Company Response:
State: CA
Zip: 94587
Submitted Via: Web
Date Sent: 2022-04-12
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A