From Neverwinter Wiki
Binds To Account on Pickup
A magical key that can open any Lockbox.
The teeth of the key seem to be ever shifting and can feel a slight pull towards any nearby locks as though it is always searching for its match.
No Level Requirement
Enchanted Keys are used to open lockboxes.
They can be purchased from the Zen Market for 125 each, or 10 keys for 1,125.
As of July 17th, 2014, all existing Enchanted Keys were made bound to account on pickup.