What is KeyBank's overdraft policy?

KeyBank's overdraft policy is designed to provide customers with a safety net in case their account balance falls below zero. Essentially, the policy allows customers to access funds through an overdraft feature, which can cover transactions even if sufficient funds are not available in their checking account. However, there are specific terms and fees associated with this service that customers should be aware of. When a customer opts into KeyBank's overdraft protection, transactions that exceed the available balance may still be processed. This can include checks, automated payments, and debit card transactions. KeyBank typically charges fees for overdraft services, and it is important for customers to review these fees, as they can accumulate quickly if multiple overdrafts occur. It is noteworthy that KeyBank also offers a feature called "Overdraft Protection Transfers," which allows funds from a linked savings account or line of credit to be used to cover overdrafts for a lower fee than the standard overdraft fee. Customers should regularly check their accounts and stay informed about their balances to avoid potential overdraft situations. For the most accurate and up-to-date information regarding KeyBank's overdraft policy, individuals should refer to the current KeyBank website or their account disclosures, which outline all the relevant details and options available.