Consumer complaint received 2015-12-29
Product: Bank account or service — Checking account
Issue: Problems caused by my funds being low — 
Company: KEYCORP (NY)

Over the past month I have written many complaints against Key Bank. I am writing this last complaint to simply sum up the issues that I have with this bank. I hope that the bank will be audited for excessive overdrafting again in the future. I had XXXX accounts with Key Bank, a personal checking account and a Hassle Free account. The Hassle Free account was attached to my personal checking account as an account that my teenaged son could use. He is a XXXX since he was just turning XXXX. The Hassle Free account issued a debit card with his name and I was able to transfer funds from my account to his account easily. Often, I would get very close to a XXXX balance as I live pay check to paycheck. Often I would deposit money through an ATM machine which would theoretically give me access to XXXX dollars immediately. However, through Key Bank 's magical accounting system, when the ledger would be managed by the bank, items would bounce because actually there was not immediate access to the money through the on line account. 

I have several copies of my account and my son 's account as the bank was performing its processing during the evening and night hours. Often, the ledger shows a huge negative balance while the processing is happening. It 's hard to understand how a large modern bank like this has such antiquated accounting processes. I have an account in another bank and all transactions are immediate and neat. There is no messy, convoluted, unclear and dishonest practice that results in excessive overdrafts. 

Anyway, the result of my complaining was that Key Bank closed my checking account. I did not ask for this. This created complete havoc in my financial life. I had to stop direct deposits and go to another bank to open an account for me and my son. When I talked to XXXX the representative of Key Bank who closed my account she did not even understand that the Hassle Free Account was my son 's and was connected to my personal account. She was going to leave the Hassle Free account open. So not only does key bank participate in magical accounting that results in excessive overdrafts for folks, but key bank also does not pay attention to its costumers and participates in retribution. 

Lastly, for the years that I was involved with this bank, items would sit in the pending section of the account. Sometimes items would sit there for 10 days. But since Key Bank decided to close my account, items cleared within one day, even those items that were charged against the account by my son who is in another city. This shows that Key Bank purposefully leaves items in pending after which they reorder the debits to put the account in negative status. 

I know that my complaining as I have could make me seem crazy and also that folks could argue that I do not manage my money well. But I represent many people who have no assets and who live pay check to pay check. This bank is notorious for these practices that I have highlighted over the last two months. I hope that at some point, Key Bank will be held accountable for their dishonesty and poor customer service. In the last year, I have paid the good part of XXXX $ in over draft fees. I do not have that money to give to Key Bank. XXXX the customer service rep said that she valued my patronage. Well, if that were true, then I would have had the overdraft fees refunded to me as I requested and Key Bank would not have tried to punish me by closing my account.