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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.
*See the best Student Checking Accounts compared
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.
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.
KeyBank Student Checking Details
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.
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.
| 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. |
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.
- Best Student Checking Account Offers of December 2022
- TD Bank Student Checking Review: Free Checking For Students Under 24
- Chase College Checking℠ Account Bonus: $100 Sign-Up Offer
- U.S. Bank Student Checking Review: No Fees, No Minimums
- Capital One 360 Money Account Review: Checking Account For Ages 13 To 17
- Santander Student Value Checking Review (Ages 14 – 25)
- BB&T Bank Student Checking Review (Students Age 23 & Younger)
- SunTrust Essential Checking For Students (High School, Technical School, College)
- KeyBank Student Checking Account Review (Students 16 To 24)
- PNC Bank Virtual Wallet Student: Unique Features At Your School
- Wells Fargo Teen Checking & Everyday Student Checking Review
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