Consumer complaint received 2025-08-29 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Cashing a check
Company: KEYCORP
State: OR

Complaint narrative:
On or about XX/XX/XXXX I signed the back of a check that was written to me from XXXX XXXX. The check was then deposited into key bank via a friends account at key bank and we waited for the check to get cashed and funds to become Available. The next day Key Bank, the office on XXXX XXXX in XXXX XXXX  called my friend and said this transaction looks like fraud and we need you and XXXX to come down to the branch .. so my friend and I went down there and I gave them my ID and anything else they asked for as did my friend. We were told they would get back to us, which they never did so I went into the branch on XX/XX/XXXX and asked for a status update. The guy helped us told me there was no way Key Bank will cash this check and that I needed to talk with my insurance company about getting a new check. He cited that their bank does not accept 3rd party checks so they will not cash it. Without any knowledge of anything further happening from key bank I took this employee at his word and left. Well, the very next day Key Bank did in fact cash this check that they said they were not going to cash .. they didnt decline the funds or send the money back to the institution that wrote me the check either. They, I k ow this is hard to believe, have kept all of this money, which is roughly {$43000.00} for nearly a year now and have lied many times between now and the time they cashed it, telling both my friend who had the account there and myself that they didnt cash it. Q my friend and I have been down to the branch many times to speak with the branch manager there. He always stays very vague, says he will call us back, and then never does. He wont ever respond to any emails either. Key bank had literally stolen {$43000.00} of mine and have kept it for over a year now. I dont owe them money, they know they have no claim to these funds, yet they keep them and hope I will just go away. I have even organized a conference call with my claims representative at XXXX XXXX and the Branch Manager at Key Bank. Again, the key bank manager says he will get back to us so we can get this issue resolved and then He disappears. He has never responded when he said he would even 1 single time.

Key Bank needs to give me the funds or send them back to XXXX XXXX  who wrote the check and give me documentation that such transaction has taken place. How can a bank get away with stealing {$43000.00}? I hope the answer is that they cant! 

I even opened an account at key bank and gave them another option to do the right thing and not steal money that does not belong to them. 

I have a copy of the cashed check that key bank cashed and its been almost a year that they have retained funds and unjustly enriched themselves which should amount to criminal theft. Please help me get this resolved.. I have documentation proving key bank cashed the check as well. 

Attached is a copy of said check as well as my farmers u surance claim rep acknowledging the situation In Im with key bank. 

I have also attached the email I sent to the branch manager as well as my insurance rep when XXXX committed to getting back to us with some info in writing, which of course he never did.

Company response to consumer: Closed with explanation