Low-cost, in-branch check cashing service designed to meet needs of customers who are new to or unfamiliar with banking
KeyBank Plus check cashing, a simple, user-friendly and low-cost check cashing service, is now available at 18 Buffalo-area KeyBank branches.
KeyBank Plus check cashing began in 2004 and allows individuals without accounts to cash their approved payroll, tax refund or government checks for a 1.5 percent fee at their nearest KeyBank Plus branch. This unique check cashing service is part of the company's KeyBank Plus suite of banking solutions and free financial education designed to meet the needs of the unbanked and underserved populations. It is currently available in 14 markets across KeyBank's footprint.
"This expansion into the Buffalo market continues our commitment to invest in the communities we serve and help Western New York thrive," said Catherine Braniecki, KeyBank senior vice president and regional corporate responsibility officer. "KeyBank works hard to serve the needs of families and individuals with both traditional and nontraditional financial needs and give our clients the tools they need to be financially well."
To use KeyBank Plus check cashing, customers need only bring an acceptable form of photo identification, such as a driver's license, state I.D., passport or Matricula Consular, as well as the payroll, government or tax refund check they wish to cash, made payable to themselves. At their first visit, customers will also need to provide the bank with personal information, including name, street address, social security number, birth date and a valid phone number.
Once a client record is established, the client can go straight to the teller line when visiting a KeyBank branch and complete their check cashing transactions. There is a minimum fee of $3 and a maximum fee of $25 per check cashed. Checks of up to $5,000 may be cashed, and tax rebate checks are not subject to the maximum fee limit. Additionally, every fifth check is cashed free and participants are eligible to receive five fee-free money orders when they cash their check.
The Buffalo area KeyBank branches that offer KeyBank Plus include:
- Bailey Amherst - 3134 Bailey Ave., Buffalo
- Black Rock Main - 201 Amherst St., Buffalo
- Broadway Market - 1017 Broadway, Buffalo
- Chippewa - 250 Delaware Ave., Suite 110, Buffalo
- Delaware Hertel - 2318 Delaware Ave., Buffalo
- Dent-Niagara - 800 Main St., Niagara Falls
- East Clinton - 1989 Clinton St., Buffalo
- Elmwood Utica - 529 Elmwood Ave., Buffalo
- Grant Ferry - 306 West Ferry St., Buffalo
- Lackawanna - 703 Ridge Road, Lackawanna
- Larkin Building - 726 Exchange St., Buffalo
- Main & Jewett - 2421 Main St., Buffalo
- Medical Campus - 1001 Main St., Suite 120, Buffalo
- South Buffalo - 2157 Seneca St., Buffalo
- South Campus - 3586 Main St., Amherst
- South Park Abbott - 1510 South Park Ave., Buffalo
- Walden Galleria - 1675 Walden Ave., Cheektowaga
- Walden Galleria Mall - 2000 Walden Ave., Suite B216, Cheektowaga
Since its inception, KeyBank Plus check cashing has cashed more than $200 million in checks and saved customers more than $3 million in fees (based on the average check cashing fee of the competition within the company's footprint). Of the individuals using this program, 81 percent of the check-cashing transactions are made by repeat customers, and the busiest branches process around 500 transactions a year.
