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Key Bank Breaking the Law or Just Ripping-off Customers

Posted • October 4, 2007 • Comments Off

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Yesterday I had a check and was heading to my bank, US Bank, a great bank. Back to the story. The check was drawn on Key Bank. I was driving past one branch:

Key Bank
Oak Grove Branch
14888 SE Mcloughlin Blvd.
Oak Grove, OR 97267
503-653-3341

So I popped in to cash the check. They said it would cost $5.00 to cash the check. The same price they charge at the check cashing stores. Needless to say I was not pleased.

We were told by our accountant, a fews months ago that this was not legal. They don’t charge other banks a fee to cash the checks. Why should they charge us? We had even cashed checks at other Key Bank branches where they told us they didn’t charge to cash checks drawn on their bank any more.

Well the one in Oak Grove still does. Is this a case of breaking the law or just ripping-off customers? Does it really matter? It is a case of extremely poor customer relations.

If your Brand is tarnished by even one section of your company it still affects the whole company. Your brand has to be protected. Brand protection is crucial to your company image. In the case of Key Bank you would think the Corporation would care what their branches are doing. Since they don’t what does this say about Key Bank?

I would suggest you avoid Key Bank like the plague. Would you want to write a check to someone and have them have to pay a $5.00 charge to cash it? How does that make you and your business look?

late,
gary pool

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@garypool

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