Key Bank is a "FRAUD", using acceptable financial terms such as "Available Balance" and "Current Balance", and creating hidden and new definition to those terms as they please, and the definitions are not disclosed to the customer. No "HANDS UP, YOU ARE BEING ROBBED", warning.
My daughter, a student, created a negative ($.88) or (88 cents) in her checking account, which is linked to the House account. My wife saw the negative balance on the account, and made a transfer of $50.88 "CASH" to the account from the house account. The website responded with an adjusted "Available Balance" and "Current Balance" of $50.00.
However, the robbers at Key Bank had a whole different plan. Since the transfer of $50.88 was made on Friday after the bank closes on Eastern Time, the credit for the $50.88 was not going to be posted until Monday night, 3 days later. My daughter saw that she had $50.00 available to her on her account, but Key Bank hit the overdraft of (88 cent) with a penalty of $36.50, and did so for every purchase my daughter made on Friday. The total was close to $400 in penalties.
Somehow the concept of "CASH" in a bank account, and the transfer of "CASH" to an account has lost its meaning.....The "CASH" we thought we had, was "ADJUSTED" by the bank by $400 in penalties.
I am closing my accounts with KEY BANK, and so should all of you. I will keep my cash, and this way, if a robber tries to rob me, at least I will get a "warning".
BM
Tacoma, Washington
U.S.A.