- Editor Rating
- Rated 4 stars
- Excellent
- KeyBank Student Checking
- Reviewed by:
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- Features & Benefits
- Branch/ATM Access
- Customer Service
The KeyBank Student Checking Account helps students like learn how to build strong financial habits early, while enjoying great benefits. Read more for the good, the bad, and our overall impression.
The Requirements
The KeyBank Student Checking account is available to students between the ages of 16 to 24 years old and is open to high school juniors and seniors, as well as those enrolled in post-high school education. Those under the age of 18 are required to have a parent or guardian sign on as co-owner of the account.
The Good
Waive Your Monthly Maintenance Fee
KeyBank charges you $5 to maintain your account monthly, however this can be waived if you:
- Make at least 5 transactions, or
- Deposit at least $200 each month.
No Minimum Balance
After the initial $50 deposit, your balance can dip as low as you want!
Online & Mobile Banking
You have the freedom, 24/7, to transfer between KeyBank accounts, pay bills or make mobile deposits with KeyBank’s online banking.
Non-KeyBank ATM Fee Reimbursement
You can get up to $6 reimbursed per month, if you withdraw from non-KeyBank ATMs with a KeyBank Debit Mastercard.
KeyBank Relationship Rewards
Those with a KeyBank Student Checking account are eligible to enroll in the KeyBank Relationship Rewards program, which allows you to earn points when you do everyday banking activities, like making purchases with your KeyBank debit card or using KeyBank’s online Bill Pay.
Financial Wellness Tool
Learn to form better financial habits, set goals, and celebrate successes with this nifty tool from KeyBank.
The Bad
Minimum Opening Deposit
The minimum opening deposit is $50, relatively higher than other student checking accounts.
Few ATM & Branch Locations
KeyBank only serves 16 states (Northeast and Northwest United States) and has a small network of over 1,200 branches and 1,500 ATMs. Branches are in these states: Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
High Overdraft Fees
With a fee of up to $39 per item paid and 5 maximum items, you’re looking at a possible $195 in overdraft charges in one day.
No Yield on Deposits
KeyBank Student Checking is non-interest bearing, which is the norm for student Checking accounts.
The Fees
| USAGE | FEE | NOTES |
| Monthly Maintenance | $5 | Easy to waive (see above). |
| Non-KeyBank ATM | $2.50 | Per transaction. |
| International ATM | $5 | Per transaction, plus 1%. |
| Overdraft (NSF) | Up to $39 | Max 5 items per day. |
| Credit Card Overdraft Protection | $10 | Per monthly billing cycle. |
| Extended Overdraft Protection | $28.50 | For every 5 consecutive days. |
| KeyBank Relationship Awards | $40 | Annual fee. |
| Paper Statement | $3 | Per monthly billing cycle. |
| Early Closure | $25 | If closed within 180 days of account opening. |
Current Promotions?
Typically there aren’t any sign-up bonuses for the Key Student Checking account like there are for the other KeyBank consumer Checking accounts, but I’ll keep all KeyBank offers updated here.
Bottom Line
The KeyBank Student Checking Account is a good choice for a student with basic needs. KeyBank will reimburse you up to $6 per month in fees charged by other ATM operators – a common feature of premium checking accounts, but rare in the student Checking account world.
However, watch out for those overdraft fees, you could be losing almost $200 a day if you don’t keep an eye on your balance!
For a top student Checking account with a sign-up bonus, I recommend taking a look at the Chase College Checking℠ account to compare with.
MoneysMyLife Top Offer Picks  With 16,000 ATMs and 5,100 branches throughout the United States, Chase Bank is second only to Wells Fargo with regards to the total number of branches. This makes the bonus offers from Chase extremely popular, and they always have several promotions to choose from. Full Review.
 Apply online for a new TD Bank Checking account to earn either a $300 bonus for the TD Premier Checking account ( $2,500 in direct deposits required), or a $150 bonus for the TD Convenience Checking account ($500 in direct deposits required). This is a limited time offer. Full Review  Earn 75,000 miles each year (worth $750) if you spend $25,000 on purchases with the Barclays Arrival® Premier World Elite Mastercard®. This credit card is intended for high spenders looking for a card to carry for the long-term. The card will earn unlimited miles at the rate of 2 miles per $1 spent on all purchases. See Terms. Full Review |
CIT Bank is offering a 1.85% APY rate with their Money Market Account for all balances. This account is available online nationwide and consistently offers one of the best rates in the nation. The minimum opening deposit is $100 and there are no fees for opening or maintaining the account. 
Ally Invest is one of the nation's top choices for a low-cost stock broker, and they now have a promotion where you can earn a cash bonus of $50 to $3500, as well as $500 in commission-free trades. Your cash bonus value will depend on your deposit amount made within 60 days of account opening. 
Simple Bank has an offer where you can earn a $20 bonus after opening their free online Checking account that's available nationwide. You'll then be able to earn unlimited $20 referral bonuses. Direct deposit isn't a requirement and all you and your referrals need to do is open a new account and use the Simple Visa debit card to make a first purchase. - Bank Of America Core Checking Account For Students Under 24
- KeyBank Student Checking Account Review (Students 16 To 24)
- Santander Student Value Checking Review (Ages 16 – 25)
- Chase College Checking℠ Review: Is This Student Account For You?
- Chase Student Checking Promotion: College Checking℠ $50 Sign-Up Bonus
*These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.