When KeyBank customer service fails you, consumer arbitration is a legal option that can help you get KeyBank to take your complaint seriously. Follow the steps below to file your arbitration claim against KeyBank.
Your user agreement with KeyBank includes what is called an arbitration clause. This prevents you from suing the bank, joining any class action lawsuits, and instead forces you to bring any complex or large claims you have through a binding arbitration process. This can be a good option for you, it will take a few months to conclude, but the majority of it can be handled over email or speaking with an arbitrator over the phone.
You can go through the process on your own, or use a claim processor like FairShake to simplify the process for you.
Here’s how to start the arbitration process:
Before you begin this process you need to make sure that you have a clear and concise description of what your issue is and what relief you are asking for. You will need to provide this information when you file your claim.
Key Bank requires that you send them a description of your claim before you file for binding arbitration and that you give them 30 days to try and resolve the issue. You can do that here.
Your KeyBank user agreement requires that you initiate binding arbitration through the American Arbitration Association. The AAA is an organization responsible for administering arbitration and appointing neutral arbitrators to resolve the disputes. You can download the filing form for an AAA-administered Consumer Arbitration here.
Enter a description of your dispute and the relief you are looking for in the provided space at the top of the form. Enter your contact information and the contact information for KeyBank:
KeyCorp
Corporation Service Company
50 West Broad Street
Suite 1330
Columbus, OH 43215
Now you need to calculate the amount of money you have to pay as a filing fee. This is a requirement to get the process started.
The AAA provides a document that lists all of its current filing fees here. Your fee will vary based on the size of your claim.
In order to file for arbitration you will have to provide the AAA with a copy of KeyBank’s arbitration clause which you can find in the user agreement below:
https://www.key.com/about/misc/user-agreement.jsp
Once you locate the contract or terms of service on this page, download a copy of it and then save the document under the new title “KeyBank Customer Agreement with Arbitration Clause”.
Now that you have all of the documents and information readily at hand, this time to file your claim with the AAA. To do so, go to the AAA’s “Fast File” option available at the following online address:
Put in your contact information in the provided boxes, and specify that you are requesting arbitration. There is a box at the bottom where you upload your Demand for Arbitration that you prepared earlier as well as your KeyBank contract that you downloaded.
Once that is done, enter the filing fee that you have calculated at the bottom of the page.
Within a few days of submitting the proper documents, the AAA will send you a confirmation email which includes all of the information you sent them. Print that email and send a hard copy to:
KeyCorp
Corporation Service Company
50 West Broad Street
Suite 1330
Columbus, OH 43215
Within a few weeks you should be contacted by the case administrator assigned to your case from the AAA who will also contact KeyBank to arrange the arbitration hearing. Your case administrator will be the go-between for scheduling any meetings or follow up phone calls and will make sure that you submit all of your documents in a timely fashion.
The entire process can be expected to take several months.
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