Cleveland-headquartered regional lender, KeyCorp, has launched
Key Coverage Checking, a packaged current account offering flexible
overdraft fee options and ID Theft protection.

The account, for which a $10 monthly fee applies, will be rolled
out on 15 August.

According to the bank, Key Coverage Checking will offer
customers a fees waiver on the first two overdraft or return item
fees assessed each month.

In addition, no overdraft fee will be assessed if an account is
overdrawn by $10 or less, based on the end-of-day balance.

A reduced overdraft fee of $18 is assessed if the account has an
overdrawn balance of $10.01 to $100. If the account remains
overdrawn for five or more consecutive business days, a recurring
overdraft fee is charged.

The account’s identity theft cover includes services such as
access to credit reports, credit scores, $2,500 identity theft
insurance, victim assistance and card theft protection.

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“Key Coverage Checking provides our clients who prefer it the
option of a checking account with significantly-reduced overdraft
related costs, with the added benefit of ID Theft protection,” said
KeyCorp vice chair Beth Mooney.

“At KeyBank, we want to offer choices, and our client research
indicates that a segment of our clients is likely to prefer these
features that help protect them against unwanted fees and
fraudulent activity.”