Get KeyBank to listen: Submitting a legal claim can bring them to the table to settle your dispute.
More and more people today are concerned about things like a fraudulent Key Bank account opened in their name because of the recent increase in online cyber-attacks and identity theft. Cyber-attacks from Russian operatives like Solar Winds have left many people exposed in terms of their bank account number and other identifying financial data.
If you have seen a fraudulent Key Bank account opened under your name, or you simply see unauthorized transactions, what can you do? You might have already tried to contact Key Bank directly but they won’t act. What next?
Yes, your checking accounts are protected against fraud by Federal Reserve Regulation E. This law says that your bank can’t make you pay for unauthorized transactions on your checking account as long as you report it within a few days. The longer you wait, the less likely it is that they will give you a refund.
If you report fraudulent activity or fraudulent key bank accounts opened in your name immediately, you qualify for zero liability fraud protection against charges that you didn’t authorize whether they took place on a mobile device, in the store physically, over the phone, or online. This protection comes with all Key Bank MasterCard credit cards and you can purchase this protection at an extra cost for debit cards and checking accounts directly.
However, this isn’t always the case. While they are technically supposed to reimburse stolen money, there are plenty of ways that banks can work around that legal requirement and some customers have complained regularly about fraudulent activity on behalf of the bank itself, and a general lack of responsiveness.
One customer explained, “The day I received unemployment over thousands of it was stolen. I have been in dispute with KeyBank over a month. I wait 2 hours on the phone just to be told my claim is denied. I faxed them my government issued ID, my lease, and my utility bills I’m locked out of my account, the first card they emailed never arrived, it seems like this second one isn’t coming either. I asked for my statements so I could file a police report and they haven’t mailed that either. I have effectively been stolen from, cannot access any funds to pay back rent. KeyBank is going to make me homeless because they are not mailing the documents I need. KeyBank probably stole my money in the first place and now they’re defrauding me. KeyBank is going to make me homeless if I can’t access my unemployment funds in some way.”
And unfortunately, it took two months for KeyBank to respond, sending a letter to inform them that they would review the issue, open the dispute, and temporarily reimburse them.
Yes they really do and even though they might follow up and ask you a lot of questions on more than one occasion, that doesn’t mean they don’t believe you. They need as much information as possible to verify whether evidence like timestamps or IP addresses are associated with you. This information can also help them track down the person responsible.
If a scammer gets ahold of your bank account number or your routing number, there are a lot of things they can do including sending money to your bank account, which on the surface might seem cool until you realize that that large amount of money might be money laundering. They can also commit fraud by ordering checks from your account and writing checks under your name. They can withdraw money using fraudulent checks or using money transfers.
Still not getting anywhere? If you’ve already tried these steps and you filed the appropriate reports, but you aren’t getting a response or you aren’t getting the refund you deserve, we can help. Contact FairShake today to get started.
The Ultimate Guide to Consumer Complaints
Learn More
