• Report: #1072642

Complaint Review: Key Bank

  • Submitted: Fri, August 02, 2013
  • Updated: Fri, August 02, 2013

  • Reported By: MichelleMWA — Lacey Washington
Key Bank
Lacey, Washington USA

Key Bank Charged excessive fees Lacey Washington

*Consumer Comment: Incorrect...

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First, let me apologize to anyone I referred to key. The reason I referred people to key is they had excellent customer service. But seems they have become like all banks have and are just greedy.

I have had this account for 13 years. I have been a good customer. I never complained when I screwed up and was charged a service fee of $30 some dollars for going $3 over my limit. But, being charged 2 excess transfer fee's on my savings account that is tied to my paypal account is just wrong.

After fighting for 22 years to get my compensation for illness due to serving in the first Gulf War, I got a measly 9k for all of that fighting. Not saying 9k is nothing, but for what I had to do to get that, it is just another slap in the face from Uncle Sam. But I paid off my Bill Me later account which was done with 2 payments. I bought a few things. Then I get 2 fee's of $15 on the SAME day for excess transfers.

Called them and they tell me this is part of having a savings account which is what I was advised to open. I didn't know that and why should it matter, it is my money and I was not doing anything that cost the bank money. They offered me a concession of $15 waived, but not both.

Thank you for the loyalty Key. I will be withdrawing my 5K and taking it to a credit union where I will never have to pay an ATM fee as I have with you, have better banking hours, with actual drive up windows, who appreciate my business.

Nice to know you have become just like every other bank and care more about the money and fee's than customers. 13 years of loyalty lost over $30. Wise move. No wonder banks had to get a bailout. They can't do the math.


This report was posted on Ripoff Report on 08/02/2013 08:13 PM and is a permanent record located here: http://www.ripoffreport.com/r/Key-Bank/Lacey-Washington/Key-Bank-Charged-excessive-fees-Lacey-Washington-1072642. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Incorrect...

AUTHOR: Robert - ()

 The reason you got charged fees for "excessive" withdraws is because of a Federal Regulation known as "Regulation D".  This basically comes down to that any account designated as a "Savings" account is meant to save and not a "transactional" account such as as checking account. 

So if you have too many withdraws of various types in a specific period the banks by law must take corrective action.  Now, how banks(and credit unions) do this varies but they all will have some sort of "fee" for transactions that get defined as "excessive" withdraws.  So when you go to your Credit Union make sure that you ask them about their policy for Regulation D.  Or if you plan to have additionnal withdraws consider converting your account from a Savings Acccount to a Checking Account.

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