KeyBank in Utah: Overview
KeyBank is a regional bank headquartered in Cleveland, Ohio, with consumer banking operations across 15 states. It is the primary banking subsidiary of KeyCorp and provides personal banking, credit cards, mortgages, consumer loans, investing, business banking, commercial lending, and treasury management services.
Unlike banks headquartered in Utah, KeyBank combines a multistate banking network with a meaningful local presence. Utah customers can access branches across the Wasatch Front and in several northern Utah communities, along with online banking, mobile deposit, bill pay, Zelle, and eligible access to KeyBank and Allpoint ATMs.
This KeyBank review covers the bank’s history, Utah expansion, personal accounts, credit cards, loans, investing, business banking, and other major services.
1-800-KEY2YOU (539-2968)
127 Public Square
Cleveland, OH 44114
Main Office in Utah
36 S State St
Salt Lake City, UT 84111
Utah cities where KeyBank operates include:
American Fork, Bountiful, Draper, Kamas, Layton, Logan, Midvale, Murray, North Salt Lake, Ogden, Orem, Park City, Provo, Roy, Salt Lake City, Sandy, South Jordan, Taylorsville, Tooele, Tremonton, and West Jordan.
History
KeyBank’s history begins in Albany, New York, where the Commercial Bank of Albany was chartered in 1825. The bank later became the National Commercial Bank and Trust Company and developed into a larger banking organization through mergers and acquisitions.
A second part of KeyBank’s history comes from the Society for Savings, founded in Cleveland in 1849. Society expanded throughout Ohio and eventually became Society Corporation.
The modern KeyCorp was formed in 1994 when KeyCorp and Society Corporation completed a merger of equals. The combined company retained the KeyCorp name and established its headquarters in Cleveland.
KeyBank continued expanding as a regional institution. One of its largest transactions was the 2016 acquisition of First Niagara Financial Group, which added branches and customers across New York, Pennsylvania, Connecticut, and Massachusetts.
Today, KeyCorp is one of the largest bank-based financial services companies in the United States, with approximately $189 billion in assets as of March 31, 2026.
Expansion in Utah
KeyBank entered Utah on December 31, 1987, through the acquisition of Commercial Security Bank, an Ogden-based institution with an established network of Utah branches. Commercial Security Bank subsequently became Key Bank of Utah.
The bank expanded again in 1990 by acquiring Citibank’s Utah banking operation. These acquisitions gave KeyBank an established position in the state instead of requiring it to build a Utah branch network from the beginning.
The bank also supports community and small-business programs in the state. In 2026, the KeyBank Foundation awarded the Suazo Business Center a $600,000 grant to expand bilingual entrepreneurship education, virtual programming, and individual business advising. The grant was described as the largest KeyBank Foundation award made in Utah.
Personal Banking
KeyBank offers a full range of consumer banking products, including checking accounts, savings accounts, money market accounts, CDs, credit cards, mortgages, home equity financing, personal loans, auto loans, and investment services.
Customers can manage eligible accounts through online and mobile banking. Digital features include mobile check deposit, account alerts, bill pay, transfers, digital wallets, Zelle, and Early Pay for eligible direct deposits.
KeyBank occasionally offers bonuses and promotional offers for checking accounts, business banking, and credit cards. See our KeyBank Bonuses and Promotions page for current offers.
KeyBank deposit accounts are FDIC insured within applicable federal limits. Learn more about What FDIC insurance means to Utah bank customers.
Checking Accounts
key.com | Checking Accounts
KeyBank offers three primary consumer checking accounts, ranging from a standard no-monthly-fee option to an interest-bearing relationship account.
All three accounts include a debit card and access to online and mobile banking, mobile check deposit, bill pay, account alerts, digital wallets, Zelle, and Early Pay for eligible direct deposits. Check-writing privileges, ATM access, overdraft policies, and relationship benefits vary by account.
Before applying, review what you need to open a checking account in Utah to prepare the required identification and personal information.
Key Smart Checking
Key Smart Checking is the bank’s main everyday checking account. It includes paper checks and access to KeyBank and Allpoint ATMs.
- Monthly fee: $0
- Fee waiver: Not required
- Minimum opening deposit: $10
- Interest-bearing: No
Key Select Checking
Key Select Checking is designed for customers who receive larger direct deposits or maintain higher combined KeyBank balances. It includes expanded ATM benefits and a $100 annual cash bonus when qualifying direct-deposit requirements are met.
- Monthly fee: $25
- Fee waiver: First three statement cycles; afterward, receive at least $3,000 in eligible direct deposits per statement cycle or maintain $15,000 in combined eligible balances
- Minimum opening deposit: $50
- Interest-bearing: Yes
KeyBank Hassle-Free Account
The KeyBank Hassle-Free Account is a checkless option that does not charge overdraft fees. Paper checks and Allpoint ATM access are not included.
- Monthly fee: $0
- Fee waiver: Not required
- Minimum opening deposit: $10
- Interest-bearing: No
Savings Accounts
KeyBank offers four primary savings options for general savings, larger balances, children, and healthcare expenses. All accounts can be managed through online and mobile banking, while eligibility and account features vary.
Key Active Saver
Key Active Saver is KeyBank’s basic savings account. It can also be linked to an eligible KeyBank checking account for overdraft protection.
- Monthly fee: $4
- Fee waiver: Own an eligible KeyBank consumer checking account
- Minimum opening deposit: $10
Key Select Money Market Savings
Key Select Money Market Savings is designed for customers who maintain larger balances. It includes check-writing privileges and additional relationship benefits.
- Monthly fee: $20
- Fee waiver: Maintain a minimum daily balance of $25,000 or own an eligible premium KeyBank checking account
- Minimum opening deposit: $5,000
Key4Kids Savings
Key4Kids Savings is a custodial account for children younger than 18. It must be opened at a branch by a custodian who already has an eligible KeyBank relationship.
- Monthly fee: $0
- Fee waiver: Not required
- Minimum opening deposit: $10
KeyBank Health Savings Account
The KeyBank Health Savings Account is available to eligible customers covered by an HSA-qualified high-deductible health plan. Funds can be used for qualified healthcare expenses, and eligible balances may have access to an investment option.
- Monthly fee: $0
- Fee waiver: Not required
- Minimum opening deposit: $0
Certificates of Deposit
KeyBank offers three types of CDs for short-term savings, longer-term goals, and larger deposits. All three provide a fixed rate for the selected term, compound interest daily, and renew automatically unless the customer provides other instructions. Early withdrawal penalties may apply.
Short-Term CDs
Short-Term CDs are designed for customers who want to earn a fixed rate without committing their money for an extended period.
- Term range: Seven days to less than six months
- Minimum opening deposit: $2,500
Tiered Long-Term CDs
Tiered Long-Term CDs provide a wider selection of terms for customers with longer savings timelines. Relationship benefits may be available to customers with qualifying KeyBank accounts.
- Term range: Six months to 10 years
- Minimum opening deposit: $2,500
- High-Yield Jumbo CDs
High-Yield Jumbo CDs are intended for customers depositing larger amounts and provide terms ranging from a few days to several years.
- Term range: Seven days to 120 months
- Minimum opening deposit: $100,000
KeyBank Credit Cards
key.com | Credit Cards
KeyBank currently offers three consumer credit cards. All include Mastercard benefits, contactless payments, FICO Score access, account alerts, security controls, and online and mobile account management.
Key Cashback Credit Card
Key Cashback is designed for everyday spending and offers a higher cash-back rate to customers who meet KeyBank relationship requirements.
- Annual fee: $0
- Welcome bonus: Not offered
- Intro offer: 0% intro APR for 12 billing cycles on balance transfers made within the first 60 days
- Rewards: Unlimited 1% cash back, or 2% with an eligible KeyBank checking account and at least five qualifying monthly transactions
- Other perks: Rewards do not expire and can be redeemed as a statement credit or deposited into an eligible KeyBank account
KeyBank Latitude Credit Card
KeyBank Latitude is designed for financing purchases, transferring balances, or consolidating higher-interest debt.
- Annual fee: $0
- Welcome bonus: Not offered
- Intro offer: 0% intro APR on purchases and qualifying balance transfers for 15 billing cycles
- Rewards: Not offered
- Other perks: Lower ongoing APR range than Key Cashback and up to six balance transfers at one time
Balance transfers must be made within the first 60 days to qualify for the introductory APR.
Key Secured Credit Card
The Key Secured Credit Card is intended for customers who want to establish or rebuild their credit history.
- Annual fee: $0
- Welcome bonus: Not offered
- Intro offer: Not offered
- Rewards: Not offered
- Other perks: Refundable deposit of $300 to $5,000, credit reporting to all three major credit bureaus, and no monthly fee on the required Key Active Saver account
The credit limit generally equals the amount held in the linked Key Active Saver account.
Loans
KeyBank offers mortgages, home equity financing, personal loans, home improvement loans, auto loans, personal lines of credit, and student loan solutions. Availability and terms depend on credit approval, location, and other eligibility requirements.
Personal Loans and Lines of Credit
Personal Loan
KeyBank’s unsecured personal loan can be used for debt consolidation, major purchases, unexpected expenses, and other personal needs.
- Loan amount: $2,000 to $50,000
- Repayment term: Up to 84 months
- Origination fee: $0
- Collateral: Not required
Home Improvement Loan
The Home Improvement Loan provides fixed-rate financing for renovations and repairs without using home equity.
- Minimum loan amount: $5,000
- Repayment term: Up to 84 months
- Origination fee: $0
- Collateral: Not required
Preferred Credit Line
The Preferred Credit Line provides revolving access to unsecured funds. Customers only pay interest on the amount they use.
- Credit line: $500 to $25,000
- Interest rate: Variable
- Annual fee: $0
- Collateral: Not required
Auto Loans
KeyBank offers fixed-rate financing for purchasing new and used vehicles or refinancing an existing auto loan.
- Minimum loan amount: $5,000
- Repayment term: Up to 72 months
- Origination fee: $0
- Collateral: Required
- Applications are handled through participating KeyBank branches.
Student Loan Solutions
KeyBank provides student loan refinancing and consultation support for borrowers evaluating repayment, forgiveness, refinancing, or new private student-loan options.
- Minimum refinance amount: $5,000
- Available terms: Five to 20 years
- Origination fee: $0
- Prepayment penalty: $0
Refinancing federal student loans through a private lender removes access to federal repayment, forgiveness, and borrower-protection programs.
Mortgages
KeyBank provides mortgages for purchasing or refinancing a home. Available options include:
- Conventional fixed-rate mortgages
- Conventional adjustable-rate mortgages
- FHA loans
- VA loans
- Fannie Mae HomeReady mortgages
- Freddie Mac Home Possible mortgages
- Key Community Mortgages
- Jumbo mortgages
- Medical professional mortgages
Qualifying KeyBank customers may receive a relationship-based interest-rate discount.
Home Equity Line of Credit
The Key Equity Options Home Equity Line of Credit provides revolving access to funds secured by the borrower’s home.
- Credit line: $10,000 to $500,000
- Combined loan-to-value limit: Up to 80%
- Interest rate: Variable
- Relationship benefit: 0.25% interest-rate discount for qualifying customers
Customers can borrow, repay, and borrow again during the draw period.
Business Checking Accounts
KeyBank offers three small-business checking accounts. Each requires a $25 minimum opening deposit. Business owners can review what documents are needed to open a business bank account in Utah before applying.
KeyBank Basic Business Checking
An entry-level account for businesses with lower transaction activity and straightforward banking needs.
- Monthly fee: $5
- Fee waiver: Maintain a $1,000 average balance or meet eligible combined-balance requirements
- Minimum opening deposit: $25
- Included transactions: 200 per month
KeyBank Business Interest Checking
An interest-earning account for businesses with moderate transaction activity.
- Monthly fee: $15
- Fee waiver: Maintain a $5,000 daily balance or meet eligible combined-balance requirements
- Minimum opening deposit: $25
- Included transactions: 100 per month
Key Business Reward Checking
A higher-tier account for businesses that need more included transactions and additional wire-transfer benefits.
- Monthly fee: $25
- Fee waiver: First two months; afterward, maintain a $7,500 average balance, meet eligible combined-balance requirements, or use Key Merchant Services
- Minimum opening deposit: $25
- Included transactions: 500 per month
Qualifying domestic wire-transfer benefits are also included.
Investments
Key Investment Services offers financial guidance and access to several investment products, including:
- Traditional and Roth IRAs
- Mutual funds
- Managed accounts
- Annuities
- Education savings plans
- Health savings investment accounts
Customers with more complex needs can also access wealth management, retirement planning, trust and estate planning, and private banking through Key Private Client and Key Private Bank. Key Private Bank has an office in Salt Lake City.
Investment and insurance products are not FDIC insured, are not bank guaranteed, and may lose value.
Conclusion
KeyBank is a large regional bank with roots dating to 1825 and a branch presence across 21 Utah cities. It serves individuals, businesses, and wealth-management clients through branches, digital banking, and specialized financial services.
For personal banking, KeyBank offers checking accounts, savings accounts, money market savings, children’s savings, health savings accounts, and CDs. Its credit-card lineup includes options for earning cash back, managing interest costs, and building credit.
KeyBank also provides mortgages, home equity lines of credit, personal loans, auto loans, student loan refinancing through Laurel Road, and unsecured credit lines. Businesses can access checking accounts, lending, merchant services, payroll support, and treasury-management solutions. Investment and wealth-management services are available through Key Investment Services, Key Private Client, and Key Private Bank.
Overall, KeyBank may be a strong option for Utah customers who want local branch access and a broad selection of financial products from one regional bank. However, some accounts require qualifying deposits or higher balances to avoid monthly fees, so customers focused on competitive savings rates or fewer account requirements may also want to compare Utah community banks, credit unions, and online banks.
COMPARING OPTIONS?
Disclaimer:
This page is not affiliated with, maintained by, or sponsored by KeyBank. The information provided in this overview may be outdated or inaccurate after the publication date. UtahFi does not assume responsibility for the accuracy of the content. The logo is a registered trademark of KeyCorp.
