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KeyBank to cut overdraft charge to $20, eliminate NSF fees

April 29, 2022

KeyBank previewed its policy changes at its investor day in March, and signaled it is working on a handful of other offerings for future rollout, including early wage access (two days ahead of payday with direct deposit), instant access to mobile-deposited funds, and a small-dollar loan product meant to give clients short -term liquidity, the bank said in its press release.

“KeyBank remains committed to providing our clients a competitive range of products and services to meet their individual needs,” Victor Alexander, the bank’s head of consumer banking, said in the release. “These changes to our overdraft policies — combined with our existing Hassle-Free checking offering which does not charge overdraft fees — will provide our clients the tools and support they need to manage their finances effectively.”

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