Key banking methods and systems for quantum key distribution (QKD) are disclosed. A method of the invention includes establishing a primary key bank that stores perfectly secure keys associated with exchanging true quantum pulses between two QKD stations Bob and Alice. The method also Includes establishing a secondary key bank that stores less-than-perfectly secure keys associated with exchanging relatively strong quantum pulses between Bob and Alice. The primary keys are used for select applications such as authentication that are deemed to require the highest security, while the secondary keys are used for applications, such as encrypted bit sifting, that are deemed to require less-than-perfect security. A benefit of the two-key-bank architecture is that exchanging primary and secondary keys actually allows for an increase in the distance over which the primary keys can be securely distributed.