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KeyBank addressing customer problems after First Niagara transfers

Oct 18, 2016 6:30 am

Chelsea Diana is reporting in the Albany Business Review KeyBank is working to correct problems that occurred with the transfer of more than one million First Niagara accounts to KeyBank a week ago. As a result, on Mon., Oct. 17, the bank announced it will deposit $100 into the accounts of former First Niagara customers who had problems accessing online banking to "make it right." The Columbus Day weekend transition was one of the last steps in KeyBank's acquisition of the Buffalo-based First Niagara Financial Group. Most customer complaints involved account access and long wait times for call centers. Several of the complaints from customers said they waited three hours or more on hold to reach KeyBank's customer service center. The bank believes most of the problems stemmed from allowing First Niagara customers to keep the same IDs and passwords. By mid-week following the transfer, about 35 percent of First Niagara clients who use online banking had enrolled in KeyBank online banking, but the majority of clients had yet to begin the enrollment process. Read the full story in the Albany Business Review.

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