Consumer complaint received 2023-06-22
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: KEYCORP (IN)

My business partner received a text from " Key Bank '' asking if we authorized a XXXX  payment to XXXX XXXX for {$460.00}. He responded No and then they called him. He referred them to me because I handle all the banking and accounting. They called immediately and said they need to verify this transaction and need to collect some information in order to stop it. They asked for my EIN. I told them I didn't have it and to call me back after XXXX. They called a couple of minutes before XXXX. I gave them the EIN. I questioned them about Business accounts not being able to use XXXX. The scammer said it was from a XXXX app. I didn't know if there was or wasn't an app. They then asked me for my online user ID. They had a security code sent to my phone via text. Again I questioned them needing that code because it says to do not give out. They justified the reason for needing it. He then asked me to verify my home address. That's when I hung up on him and called the real Key bank. The phone number they called from is the Key bank fraud department number. While I was on the phone with the real fraud department they immediately froze 4 of our 6 accounts. Right when I called them I saw 3 of our account being wiped out and transferred into an account setup for ACH withdrawals. She also locked my online Id and told me to go into the branch and set up a new online id. I did so as soon as i hung up with her. When I reached the branch the banker wasn't able to set up the new online id and was in contact with the fraud department because now there were 4 {$25000.00} withdrawals. they were trying to stop the transactions. I thought they did. They returned $ XXXX and $ XXXX the next day. a couple of days later they took back the $ XXXX leaving that account negative over $ XXXX. When I asked the branch why they did this she couldn't give me the reason. The fraud department would not give me any information. They would just tell me its under investigation and to talk to the branch. I have a call record of when I called the branch and the fraud department. After a couple of weeks the branch told me I was not allowed to transfer any money and I had no access to it. The fraud department told me that was not true and to go to a different branch. I did and it was no problem to transfer our money. Two weeks later I log into my accounts and see the money was transferred into the negative account to make it a zero balance. When I called the branch manager he informed me the investigation concluded i gave out too much information and they were not able to retrieve the $ XXXX so I lost the money. No one called to tell me this was happening or the end results or even any of their findings. The investigation lasted a few days shy of a month. I have not received any letter from Key Bank explaining their decision. The branch manager told me to file an insurance claim. they also were closing all my accounts and I was no longer a client. The account went to XXXX on XX/XX/XXXX. I filed a police report that day. The next day XX/XX/XXXX I filed a complaint with the FBI. I have a case number from Key Bank. They have not been forth coming with information at all. 

I did tell the banker on the day this happened that I had charges from XXXX for {$.00} and for {$0.00}. I didn't know where those were coming from but it had for a few months in a row. I have no idea if this was apart of the investigation or not.