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KeyBank Student Checking Account Review (Students 16 To 24)

Diana Mason by Diana Mason
April 20, 2019 12:00 am CDT
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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.

Featured Student Checking Promotion

TD Bank Convenience Checking℠
$200bonus
  • Students 17-23
  • 1300 Branches
  • No Monthly Fee
  • Read Our Review
Learn More

Chase First Banking℠
  • Students 6-17
  • 4700+ Branches
  • No Monthly Fee
  • Read Our Review
Learn More


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.

College Students In Class

KeyBank Student Checking Details

The GoodThe BadThe Fees

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.

USAGEFEENOTES
Monthly Maintenance$5Easy to waive (see above).
Non-KeyBank ATM$2.50Per transaction.
International ATM$5Per transaction, plus 1%.
Overdraft (NSF)Up to $39Max 5 items per day.
Credit Card Overdraft Protection$10Per monthly billing cycle.
Extended Overdraft Protection$28.50For every 5 consecutive days.
KeyBank Relationship Awards$40Annual fee.
Paper Statement$3Per monthly billing cycle.
Early Closure$25If 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.

Learn More
More Student Checking Reviews
  • Chase College Checking℠ Account $100 Bonus – Ends 7/19/23
  • Best Student Checking Account Offers of May 2023
  • TD Bank Student Checking Review: Free Checking For Students Under 24
  • 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

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.

Tags: keybankkeybank student checkingstudent checking
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Diana Mason

Diana Mason

Diana's passion for travel eventually led to her separation from the 9 to 5 office life and into the arms of freelance work. Cali-born and Philly-bred, she's a creative professional with a delightful knack for words. When she's not gallivanting across the globe, Diana can be found writing (of course), teaching yoga and dreaming of her next big adventure.

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Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.

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