KeyBank, a regional bank based in Cleveland with over 1100 branches in 25 states and the District of Colombia, is shuttering the lobbies of all its branches.
An email distributed to account holders said the bank was taking this action due to the Coronavirus (COVID-19) pandemic.
To quote the email:
We wanted you to know that we’re taking some added precautions for the health and safety of our clients and teammates during the COVID-19 pandemic by temporarily closing all KeyBank branch lobbies.
While our branch lobbies are closed, drive-thru teller access, ATMs, and night deposit boxes remain open, and you can make an appointment to meet with a banker or access your safe deposit box. As always, you have 24/7 access to your accounts through our secure online and mobile banking tools. If you need to meet with a banker, please call your branch for an appointment or use our online scheduler. In addition, the Key Private Bank team is working remotely and available directly by phone or email. Key Private Bank client services is also available at 1‑877‑634‑2968.
We are committing to offering service during this time, while protecting the health and safety of our clients and teammates.
KeyBank is not alone in limiting interactions with customers as it was reported that Chase is in the process of closing its branches. Expect other traditional banks to follow as the spread of the virus impacts businesses beyond government-mandated closures.
KeyBank recommended that impacted customers to bank online, by phone or at an ATM. For customers not yet using mobile banking, the company offered to provide assistance by phone.
KeyBank assured customers that “your money is secure.”
“We use state-of-the-art technology and robust security procedures, and your account is FDIC insured up to the standard insurance amount.”
For customers who are financially impacted by COVID-19, KeyBank has specific programs in place. Individuals may be eligible for a “forbearance or extension, waived fees (late or overdraft), or waived penalties for early CD withdrawal.”
Next week, KeyBank will be offering short term, unsecured loans that may be approved the very same day as the request.
“We share your concern about the spread and impact of the coronavirus, but we want you to know that our team is here to serve you. We appreciate the trust you place in us and we are committed to standing with you today and tomorrow,” stated Key.