KeyBank: Why More Americans Are Switching Checking Accounts in 2026
KeyBank (KEY) outlined reasons consumers may switch checking accounts in 2026, highlighting account fees and tools for managing pay and savings.
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KeyBank (KEY) outlined reasons consumers may switch checking accounts in 2026, highlighting account fees and tools for managing pay and savings. A 2026 J.D. Power study found that about 20% of retail bank customers moved money from their primary bank in the last three months. KeyBank also described Early Pay, included automatically with eligible accounts, and EasyUp, which transfers a chosen amount from checking to savings when a debit card is used.
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NEW YORK CITY, NY / ACCESS Newswire / October 29, 2026 / A 2026 J.D. Power study found that about
The trend may be a sign that people are looking for more from their banks than basic services. Whether it's lower fees, faster access to their paychecks, or better savings tools, many Americans are rethinking where they keep their money.
For anyone weighing their options, comparing a new checking account could be the first step toward a better banking experience. Here's a closer look at why people are making the switch in 2026.
They're tired of monthly maintenance fees
Some bank accounts come with a monthly maintenance fee, which is a recurring charge that helps cover administrative costs.
These fees can chip away at the account holder's balance every month. This can be especially true if they're not meeting the bank's waiver conditions, like maintaining the required minimum balance.
Luckily, some banks offer checking accounts with no monthly maintenance fees and minimum balance requirement - making it easier for customers to hold onto more of their money.
They want to get paid sooner
Waiting for payday can throw a carefully planned budget off course. When bills are due before a paycheck clears, it can lead to late payments and added stress. That's why early access to one's paycheck can be a money saver.
Some banks offer early pay features that allow eligible direct deposits to arrive sooner at no extra cost. For example, KeyBank's Early Pay is a service included automatically with eligible accounts rather than something you have to switch on or enroll in.
They're chasing better bonuses and rewards
Several banks offer a cash bonus when customers open an account and meet certain requirements, such as setting up qualifying direct deposits. For some customers, that added incentive can make switching feel more worthwhile.
They're fed up with surprise overdraft charges
Missing payments can trigger late fees, hurt one's credit score, or cause service interruptions. The standard overdraft protection may help prevent that, but it often comes with an overdraft fee.
To reduce that burden, some banks offer features that help customers avoid overdraft charges, such as linking to another credit or savings account to cover a shortfall without a transfer fee.
Some institutions may also waive an overdraft fee if the account is overdrawn by less than a certain amount before the end of the day.
They want easier ways to save
Saving for the future is important as costs continue to rise, but it isn't always easy. When life gets busier or more expensive, savings goals may be the first thing to go.
That's why automated savings transfers can be so valuable. Take a look at KeyBank's EasyUp® - it does the saving for you each time you swipe your debit card. You choose an amount, and that sum moves from checking to savings when you use your card.
Consistent, small transfers may turn into a comfortable rainy-day fund or a reserve for life goals and large purchases.
How to choose the right account
Before switching, it helps to compare a few key details. Anyone weighing their options may want to consider:
- Fees: Does the account charge a monthly maintenance fee? If so, how can it be waived?
- Minimum balance: Is there a required balance, and is it realistic to maintain?
- ATM access: Does the account offer fee-free ATM withdrawals, and are those ATMs accessible in my area?
- Interest: Does the account earn interest or offer rewards?
Taking the time to weigh these factors can help ensure the new account is a good long-term fit.
Making the switch in 2026
More Americans are deciding that their current bank no longer meets their needs. Luckily, there are more options than ever. By focusing on lower fees, faster pay, meaningful rewards, and smarter savings tools, individuals can find an account that works for them.
For anyone ready to make a change, comparing options and understanding the features that matter most is a smart place to start.
Notice: Information provided in this article is for information purposes only and does not necessarily reflect the views of [publisher] or its employees. Please be sure to consult your financial advisor about your financial circumstances and options. This site may receive compensation from advertisers for links to third-party websites.
Contact Information:
Name: Nagarameshwar J.
Email: nagarameshwar.j@iquanti.com
Job Title: Director
SOURCE: KeyBank
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