What to do when a KeyBank account holder dies

Visit a KeyBank branch or call 1-800-KEY2YOU (1-800-539-2968) to request a Payable on Death (POD) beneficiary designation form. You can name primary and contingent beneficiaries, including trusts. Complete the form with beneficiary names, Social Security numbers, dates of birth, and addresses, then submit the signed form at a branch or by mail.

Yes, trusts can be named as POD beneficiaries on KeyBank deposit accounts and as TOD beneficiaries on Key Investment Services brokerage accounts. When completing the beneficiary designation form, provide the trust name, date established, and EIN. POD designations authorize KeyBank to pay funds to the surviving named beneficiaries upon the account owner's death.

If you have POD beneficiaries designated, funds transfer directly to the named beneficiaries upon presentation of a death certificate and valid ID. For joint accounts, the surviving owner retains the account. Without POD or joint ownership, accounts go through probate and the executor must provide Letters Testamentary or Administration. Contact KeyBank at 1-800-539-2968 or visit key.com/settle to begin the account settlement process.

You will need an original or certified death certificate and government-issued photo ID. For POD accounts, the named beneficiary presents these documents. For accounts without POD, the executor or administrator also needs court-issued Letters Testamentary or Letters of Administration. Additional documentation requirements vary by state. Visit key.com/settle or call 1-800-539-2968 to schedule an appointment.