Consumer complaint received 2022-09-28
Company: KEYCORP
State: CT
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Didn't receive terms that were advertised

Complaint:
On XX/XX/XXXX, I opened a checking account with Key Bank under a promotion to receive a {$200.00} bonus if I met certain requirements. I met each of those requirements, but Key Bank has refused to pay out the {$200.00} bonus as promised under the terms of the offer. 

The terms of the offer stated you were not eligible if you had an account with Key within the prior 12 months. I had previously had a checking account with Key, but that account had been closed on XX/XX/XXXX, which was more than 12 months prior of the account I opened on XX/XX/XXXX for the {$200.00} bonus offer. However, Key is claiming that I had an account in the prior 12 months and that is why they arent paying out the bonus. 

One Key Bank representative I chatted with was able to confirm that I had submitted the account closure request on XX/XX/XXXX via chat ( at which time I was told the account would be closed right away ). However, multiple Key representatives I chatted with claimed that my account hadnt been closed until XX/XX/XXXX ( Ive attached a screenshot of one of these claims from a representative ). XXXX only has 30 days, so it isnt even a real date theyre claiming my account was closed on XX/XX/XXXX. However, despite this they continue to claim their date is correct and it mustve been supposed to say XX/XX/XXXX, rather than admitting theres a possibility they have an issue with their records giving it has a made-up date as my previous account closure date. 

I have requested for Key to just go back and look at my chat log from XX/XX/XXXX and they can see all the details of my account closure request and being told the account closure request would be processed immediately. However, Key Bank is claiming that old chat logs are deleted after 30 days and so theres no way they can view it to confirm my claim. I understand that front-line representatives may only have access to 30 days of chat log history, but I find it difficult to believe the old records are permanently destroyed in such a way they can not be recovered to determine whether or not Key Bank is in breach of the terms of their offer by not paying out the {$200.00} bonus. 

So the two alternatives are either : XXXX. My previous account with Key Bank was actually closed on or around XX/XX/XXXX as requested and as I was told at the time ( one Key representative said the account closure can take up to XXXX business days at most, so maybe the closure date was supposed to be XX/XX/XXXX rather than XX/XX/XXXX? ). In which case Key Bank is in breach of the terms of this {$200.00} checking account bonus opened on XX/XX/XXXX, as I did not have an account within the prior 12 months. 

XXXX. Or else Key did not actually close my prior account until XX/XX/XXXX. This would mean they kept my account open for 36 days after my closure request without my knowledge or consent. I had been told the account would be closed right away, so this would mean I was deceived by Key Bank when I was told the account would be closed right away, and there was no way for me to know they wouldnt actually close the account until 36 days later. As I mentioned above, I was recently told by a representative that account closure requests are completed at the latest within 5 business days, so if it took 36 days for the account closure to be processed this would mean the lengthy delay in closure was due to an error on Key Banks part. It does not seem reasonable that I should be punished as not qualifying for the {$200.00} bonus due to something that was an error in Key Banks process, and occurred significantly later than Key Bank told me my account would be closed. 

So whichever one of those two alternatives is the case, I believe Key Bank should pay out the {$200.00} checking account bonus, because it is due to an error on Key Banks part that they have denied the bonus thus far. If Key Bank just goes back and looks at the chat record from XX/XX/XXXX with my closure request, they will be able to confirm that one of the two errors outlined above occurred on their part.

Company response to consumer: Closed with monetary relief