After I visited Key Bank’s website Wednesday, I’ve been a target of the bank’s retargeting campaign. Here’s one version displayed on eBay today (there is also a $200 version for Express checking, see the footnote):

I clicked on it and it and was transported to the bank’s wonderfully responsive landing page (see below; link):

Breaking it down:
Overall, it’s an excellent landing page and online application that works well on desktop and mobile. Definitely a B+ or A-, with really only two small-to-medium issues: confusion about the $40 annual fee for the rewards program and the lack of prominence of the $100 bonus. See more discussion below.

Pros:

  • The overall look and feel is fantastic. Great spacing, colors and fancy font for the account names.
  • Copy is excellent. Concise and to-the-point with emphasis on 3 key areas: Easy, Mobile and Hassle-Free.
  • The “no fee” message is loud and clear with above-the-fold bullets of no monthly services fees, no minimum balance fees and especially enticing “no overdraft fees.”
  • The landing page resizes wonderfully from desktop to large mobile to the smaller screen including the graphic image downsizing as needed.
  • The “Rates & Fees” button is prominent next to the call to action.

Cons:

  • There is some confusion in the “rates and fees” disclosure. The fee schedule mentions a $40 annual fee to be part of the rewards program. And there is no indication that you can opt out of this program. My assumption was that you had to buy into that program, but in an online chat with a customer service rep I found out that the rewards program is optional. It should be very clear that the $40 annual fee is optional.
  • The $100 bonus is a bit hidden way down below the fold.
  • The call to action “USE THE RED KEY” at the top, while intriguing, is potentially confusing. I think the “GET $100” at the bottom is better and should be moved to the top.

Mixed/neutral:

  • The red graphic looks a bit like an ink blot, but overall it’s eye-catching so I’d give it a pass.
  • The no paper checks aspect is somewhat limiting, but Key has other accounts with that feature, so not a big drawback.
  • The $100 bonus requires a direct deposit of at least $500. That precludes a third of the population with 1099 or sole-proprietorship income. It’s an understandable hoop to jump through, but I wish there was another option for those without direct deposit.

Note: I started the application with Key Bank today for No-Hassle Checking but abandoned the cart. The next time I checked eBay, I was offered double the cash ($200) to open an Express Checking account. My guess is that Key Bank served a new offer after I bailed in previous one, though it might have been a coincidence. Here’s the landing page.

Banking UX Insights: Techniques, Trends & Examples

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