KeyBank vs Ally Bank

KeyBank is a bank with a variety of deposit products and great financial tools. How does it compare to Ally Bank? Read our comparison chart below.

KeyBank has over 1,200 branches in 15 states. It offers a range of checking and savings accounts. Some relationship products offer perks like lower loan rates and higher savings APY. Key Bank has higher monthly service fees and heavier requirements to waive, but there is a free checking option.

While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.

Compare KeyBank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	KeyBank	Ally Bank
	Member FDIC
	Visit Site	Learn More
	SPECIAL OFFER Key Select Checking® - $200 Bonus - Learn More Read KeyBank Review	SPECIAL OFFER Online Savings Account - 4.25% APY - Learn More Read Ally Bank Review
	Benefits and Features
Savings	0.01% APY. $10 minimum opening deposit. $4 monthly maintenance fee unless you are an owner of a KeyBank consumer checking account (including the KeyBank Hassle-Free Account).	4.25% APY
CD	Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500.	3.00% to 4.50% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.50%
Checking		0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000
Money Market	2.93% blended APY on balances of $25,000 or more. $5,000 minimum opening deposit. Monthly maintenance charge of $20. Can be waived with $25,000 daily balance OR having a relationship package checking account.	4.25% APY
Mobile App		iOS & Android
ATMs	More than 40,000 KeyBank and Allpoint ATMs nationwide	Over 43,000 no-fee Allpoint ATMs
Customer Service	Telephone Service available 24/7	24/7
Locations	More than 1,200 branches in 15 states: Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.	Online only
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Key Financial Wellness Review tool Free checking option 24/7 customer service Cons: Limited branches High account fees	Pros: CD options No account minimums Good customer service Cons: Low Checking APY for lower balance customers
Bottom Line	Bank with a variety of deposit products and great financial tools... Read full review	Solid online bank with a great user-friendly website and customer service... Read full review
	Visit Site	Learn More
	Key Select Checking® - $200 Bonus Key Smart Checking® - $200 Bonus	Online Savings Account - 4.25% APY Money Market - 4.25% APY Interest Checking
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. KeyBank: Pricing information from published website as of 04/10/2024 based on 44114 zip code. Ally Bank: Pricing information from published website as of 04/11/2024.

Member FDIC

Key Select Checking® - $200 Bonus

Learn More

Expires 7/19/2024

Earn $200 after qualified activities until 7.19.24 with interest-bearing Key Select Checking®.

Open a Key Select Checking® account online by July 19, 2024.
Make the minimum opening deposit of $50, plus one direct deposit of at least $500 within the first 60 days of account opening.
Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.

Key Select Checking® is a premium checking account that earns interest and a $100 cash bonus year after year with qualifying activities and has a waivable monthly maintenance fee.

Member FDIC

Key Smart Checking® - $200 Bonus

Learn More

Expires 7/19/2024

Earn $200 after qualified activities until 7.19.24 with the no-monthly-maintenance-fee Key Smart Checking®.

Open a Key Smart Checking® account online by July 19, 2024.
Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening.
Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.

Which is Better: KeyBank or Ally Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing KeyBank or Chase.

In short: Ally Bank's savings, money market, and customer service are worth mentioning. In particular, the customer service is outstanding.

Articles on KeyBank

KeyBank Review

Are you looking for a no-frills checking account or maybe a bank that offers relationship banking services/interest rates? You may have found your fit with KeyBank.

Key Bank Routing Number

Looking to transfer money in or out of your KeyBank checking or savings account? Find your KeyBank routing number and learn more about money transfers in our guide.