Laurel Road, a division of KeyBank
Analysis
Written by 
Edited by General
Laurel Road is a division of Key Bank and was initially set up to provide a full range of services for medical professionals (doctors and nurses), but has since expanded to address the general public.
Advantages
- Laurel Road offers a competitive savings rate, although it was been quick to drop the rate from its peak in mid-2024.
- The bank offers no maintenance or withdrawal fees and gives you a small reward for making direct deposits in a checking account that can be paired with its savings account.
Disadvantages
- Customers have no branch access at the parent bank and ATM withdrawals cost at least $3 each, there are customer service fees for certain routine things (including transferring money between accounts) and the domestic wire fee is $20. There are also step overdraft fees.
- Key Bank has a poor climate grade from BestCashCow and it was heavily involved in helping GE cook the books through its equipment lending deals in the 1990s and 2000s.
Best Rate
Savings Fees
| Fee Type | |
|---|---|
| Non Sufficient Funds | $0.00 |
| Maintenance | $0.00 |
| Out-of-network ATM | $0.00 |
| Excessive Transaction | $0.00 |
| Incoming Wires | $0.00 |
Laurel Road, a division of KeyBank Reviews
Yeller
May 8, 2023 |
STAY BELOW FDIC limits. This is a desperate product unleashed from a distressed bank!
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