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  • In October i went to a KeyBank branch, i wanted to move some money out of the savings account.
  • I remembered i might have had a limit as to how much money had to be in the account before it got charged, so i asked the clerk to verify before i transferred money out of the account.
  • The clerk confirmed that there would be no service charge or fee for any lower limit in the account, so i proceeded with the transfer.
  • After a few months i happen to check my account, and notice a $12 service charged applied every month. Gee thanks!
  • I remembered this simple concept: how do banks convince people to give them money? They establish a trust relationship. The convince the people that they (the banks) will take good care of their customers money. So a trust relationship constitutes the fundamentals of banking.
  • This trust is why i didn't ask the person for their clerk number, their name and why i didn't record the conversation and didn't double check the next month. We trust each other, right?
  • I gave KeyBank money, and they failed to take good care of it. They have actually stolen money from me. This is unacceptable. However, i decided to give them the benefit of the doubt, and i would call them to see if they would reverse the charges.
  • I called KeyBank, and they were only able to reverse one charge, so they effectively told me "We are sorry for stealing 60 USD from you. We will give you 12 USD back, but we will keep the 48 we've stolen from you".
  • Not acceptable. I'm closing all accounts and further relationships with KeyBank.