How Do I Open a Trust Account at KeyBank?

Opening or retitling

In a branch

Available

Online

Not available

By phone

Not stated

By mail

Not stated

Appointment

Not stated

Co-trustees

Not stated

Existing account

Not stated

What proves the trust

The full trust instrument

Certification form

Not stated

What it costs

Opening deposit

Not stated for trust accounts

Monthly fee

Not stated for trust accounts

Fee waived at

Not stated for trust accounts

Other waivers

Not stated for trust accounts. Trust-titled balances and the Trustee role count toward Key Private Client Checking's $200,000 aggregate-balance eligibility; small-business combined-balance waivers exclude "certain business accounts opened for the benefit of others" without naming trusts

Schedule that applies

Not stated for trust accounts; Personal Checking Account Fees and Disclosures (Greater Cleveland: Key Smart Checking effective January 12, 2026; Key Select Checking and Key Private Client Checking effective March 13, 2026) or Small Business Checking Account Fees and Disclosures (Greater Cleveland, effective January 12, 2026)

Other charges

Paper Statement Fee $0.00 per statement cycle on every personal product read (Key Smart Checking, Key Select Checking, KeyBank Hassle-Free Account, Key Private Client Checking, Key Private Bank Checking, Key Active Saver); Imaged Item(s) with Statement Charge $3.00 per statement cycle (Key Smart Checking); Returned Statement Handling Charge $10.00 (Key Select Checking, Key Active Saver, Hassle-Free). No dormant-account fee and no early-closing fee published; an inactive interest-bearing account (balance under $5000.00, no customer-initiated activity for 3 months checking / 12 months savings) has its rate reduced to .01 % rather than charged.

For trust accounts

Key Private Client Checking balance aggregation: "Eligible Account Types: Individual, Trust and Sole-Proprietorship accounts Eligible Ownership Roles: Sole Owner, Co-owner, Power of Attorney, Custodian, Trustee, or Guardian" -- trust-titled deposits and a trustee role count toward the $200,000 eligibility (contrast the estate account, which is excluded). No monthly fee, opening deposit or waiver names a trust account.

Who can open it

Existing customer

Not stated

Documents to bring

• Copy of the trust agreement naming the beneficiary, trustee, and trust property, and the trustee's authority
• Acceptable identification (a thumbprint in certain states)
• Taxpayer Identification Number certification, with backup-withholding status
• Any required minimum deposit

Steps at KeyBank

1. 1
   Gather the Deposit Account Agreement Sec. 2 items: a copy of the trust agreement specifying the beneficiary, the trustee, the trust property, and verifying your authority as trustee to open the account; acceptable identification (a thumbprint in certain states); the Taxpayer Identification Number to certify on the account; and any required minimum deposit
2. 2
   Visit a KeyBank branch (KeyBank's online application is limited to "Opening an individual account"; a branch appointment can be scheduled at key.com, and some branches are open by appointment only)
3. 3
   Complete KeyBank's account forms with the banker and certify the Taxpayer Identification Number and backup-withholding status; KeyBank designates the trustee on its records and may close the account if the required items are not provided within a reasonable period

Once it is open

Online banking

Not stated

Checks

Not stated

Debit card

Not stated

After the grantor dies: the successor trustee at KeyBank

Death certificate

Certified copy

Trust's own EIN

Not stated

The account

Not stated

Online banking

Not stated

Appointment

Not stated

1. 1
   Establish your authority: provide an original or certified copy of the death certificate, plus any additional documentation KeyBank requires for the types of accounts that were active at death
2. 2
   Gather documents: for accounts held within a trust, an original or certified copy of the trust documentation (KeyBank cannot accept a will as proof of fiduciary authority; documents must be executed or issued within the time allowed by state law)
3. 3
   Settle the accounts: KeyBank first returns government deposits received after the date on the death certificate, returns ACH payments, stops automatic bill pay deductions and automatic funds transfers, and revokes any overdraft protections; the time to settle varies with the client's relationship with Key
4. 4
   To get started, call 1-800-KEY2YOU (1-800-539-2968) or visit a branch by appointment (scheduling at key.com/settle)

KeyBank's settlement page names the trust path only as what it accepts to validate authority ("An original or certified copy of the trust documentation") and says hiring an attorney is not required to settle its accounts. Deposit Account Agreement Sec. 18: death "does not end our authority to pay checks signed by you, to accept deposits or to collect items deposited until we receive written notice of your death", and KeyBank may pay checks drawn before death for up to ten days after notice. Whether the trust account continues under the successor trustee, whether the trust must then present its own EIN, and whether the successor gets online access are not published.

What to know at KeyBank

KeyBank publishes no trust-account page; the deposit-side rule is Section 2 of the Deposit Account Agreement and Funds Availability Policy (effective September 18, 2026): a trustee under a written trust agreement must show a copy of the trust agreement specifying the beneficiary, the trustee, the trust property, and the trustee's authority to open the account, alongside acceptable identification, any required minimum deposit and a certified Taxpayer Identification Number. Section 14 states KeyBank offers trust and custody accounts where permitted by law, disclaims liability for a trustee's breach, and says KeyBank can rely on the genuineness of any document a trustee delivers. No KeyBank source mentions a certification of trust, states whose taxpayer number a revocable trust account is opened under, states whether an existing account can be retitled to the trust, or names which consumer product the account is opened as. Online opening: the online application entry screen limits itself to "Opening an individual account" by "An Individual with a valid Social Security Number", and the savings FAQ states "Online account opening is available for opening individually owned accounts"; the branch is KeyBank's stated route for anyone who does not qualify. KeyBank publishes no phone or mail route for a fiduciary account. Co-trustees: Deposit Account Agreement Sec. 9 states "We do not offer Accounts on which two signatures are required for a check or other withdrawal." Fees: KeyBank does not say whether a trust account is priced on its personal or small-business schedule; both are regional (ZIP-selected). The one trust-named fee sentence runs in the trust's favour: trust-titled balances and the trustee role count toward Key Private Client Checking's $200,000 aggregate-balance eligibility. KeyBank clients are offered a Trust & Will discount for drafting an estate plan; that is a third-party document service, not a KeyBank account procedure.