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Overdrafts happen, but you do have options. With KeyBank’s comprehensive overdraft protection, you can take steps to prevent overdrafts from being a problem.

What’s an Overdraft?

An overdraft happens when you don’t have enough money in your account to cover a transaction, and the transaction goes through anyway.

When KeyBank Pays Overdrafts

There are standard overdraft services that may come with your account.

At our discretion, KeyBank pays overdrafts for the following kinds of transactions:

  • Checks and other transactions made using your checking account number
  • Automatic bill payments
  • Recurring debit card transactions

Consent to Overdraft Services

KeyBank will not authorize and pay overdrafts for the following types of transactions unless you ask us to

Overdraft Services

With your consent only, KeyBank will pay overdrafts for:

  • ATM transactions
  • Debit card purchases1 (purchases made with your debit card on a day-to-day basis)

If you choose to decline the Overdraft Services, ATM transactions and everyday debit card transactions that would cause your account to be overdrawn will typically be declined. However, overdrafts may still be paid at our discretion on checks, automatic bill payments and recurring debit card transactions.

To consent to Overdraft Services or change your selection:

  • Sign into Online Banking or the Mobile Banking application and select Financial Details
  • Call 1-888-725-7606
  • Visit a KeyBank branch

We can’t guarantee we will authorize and pay every type of transaction, so you may be declined for the above types of transactions. Remember, when an overdraft is paid, standard overdraft fees may be assessed. And, if an item is returned unpaid, your account may be charged a non-sufficient funds (NSF) fee.

Decline all Overdrafts

You may prevent KeyBank from paying any transactions when your account does not contain sufficient available funds.

Overdraft Protection

You can choose another KeyBank account to back up to your checking account and help pay for any overdraft transactions that may occur. Depending on what you choose, an overdraft protection transfer fee may apply, but you’ll save money by avoiding overdraft fees and any non-sufficient funds fees that could be charged.


If you overdraw your checking account, funds can be automatically transferred from your Key Active Saver® Account, Key Gold Money Market Savings® and Key Silver Money Market Savings®.

KeyBank Preferred Credit Line

A line of credit gives you access to cash when you need it without having to apply for a loan each time. KeyBank’s Preferred Credit Line can be linked to your checking account so that funds are immediately transferred if you overdraw.

Credit Card

Your Key2More Rewards or Latitude credit cards can automatically transfer funds to your checking account to cover any overdrafts.

Home Equity Line of Credit (HELOC)

A KeyBank Home Equity Line of Credit allows you to borrow against the equity in your home, creating a revolving line of credit you can use over and over as you repay it. When you connect your checking account to your HELOC, the HELOC can be drawn against to cover overdrafts2.

Understanding Your Balance

Deposit Availability

Items are paid or returned based on the available balance in your account. Certain rules govern when deposits become available. Check with a KeyBank representative for more details on your deposit availability.

The following transactions are immediately deducted from your available balance:

  • ATM withdrawals
  • Point-of-Sale (POS) purchases
  • Signed debit card purchases

Keep these tips in mind about your balance:

  • The available balance does NOT reflect any outstanding checks you’ve written or other automatic payments coming due.
  • To ensure funds are available in your account and help you avoid overdraft or Non-Sufficient Funds (NSF) fees, you can take advantage of one of our overdraft protection options.
  • Be sure to track your balance by using your checkbook register to record all of your transactions, including outstanding checks and upcoming automated payments, and Online Banking to keep track of your account balance.
  • You can also check your balance at any Key ATM or by calling 800-KEY2YOU® (800-539-2968).

Notification of Overdraft

When Overdraft fees or NSF fees are charged to your account, you will be notified via Online Banking. If you are not enrolled in Online Banking, you will receive a notice sent via U. S. mail.

24/7 Online Mobile Banking Services

Stay informed about your account activity and pending transactions with text banking, mobile web, mobile apps3 and Online Banking and you can prevent overdrafts from occurring. Sign up for Account Alerts which notify you when your checking account falls below an amount you select and help avoid unexpected overdrafts.4

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All credit products are subject to credit approval.


Excludes all checks, automatic bill payments and recurring debit card transactions.


Not available in New York or Connecticut.


Available for iPhone®, iPod touch®, Android, or phones equipped with a supported mobile web browser. Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions. iPhone® and iPod touch® are registered trademarks of Apple Inc. All rights reserved.


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