Standards for Doing Business

Helping suppliers get paid promptly.

We can’t do business without our valued suppliers. KeyBank’s standards for doing business are designed to keep the supplier chain moving swiftly, with payment procedures that are clear and easy to follow.

KeyBank’s standards for doing business include:

  • KeyBank Supplier Code of Conduct — Our Supplier Code of conduct is an extension of what we call our Key Values. We expect all our vendors to strictly adhere to the KeyBank Third-Party Supplier Code of Conduct.
  • Payment terms — KeyBank’s goal is to issue payments to suppliers within 45 days from receipt of invoice, or in accordance with the terms defined in your contractual agreement.
  • W-9 requirements — In order for new suppliers to receive payment, KeyBank must have a valid W-9 form (PDF) on file for 1099 tax reporting purposes. You will receive a 1099 report when expenses in a calendar year exceed $600.

KeyBank’s commitments and payments are processed as follows:

  • Goods and services are sourced via purchase order (PO): POs are delivered to suppliers via fax or through the Ariba Buyer Network to request goods and services. The PO provides details such as delivery location, recipient’s name, dollar amount and due date.
  • Payment is made in accordance with contract or PO terms and conditions: Standard PO terms and conditions apply to suppliers that do business with KeyBank, but are not currently under contract. Standard Purchase Order Terms and Conditions (PDF).
  • Payment is initiated through Evaluated Receipt Settlement (ERS): ERS is sometimes referred to as "invoice-less" processing or pay-on-receipt. Suppliers, upon receipt of a KeyBank PO, no longer need to send an invoice. The following summarizes the approach for KeyBank’s Evaluated Receipt Settlement (ERS) payment processing:
  • Paper Invoices: Suppliers that do not use ERS submit invoices to Corporate Procurement. The invoice is matched to the PO line-for-line. Once the “Receipt email” is returned from the PO requester as acknowledgement that goods have been received, a payment will be generated to the supplier.
  • Electronic invoicing and payment options: Learn more about doing business with KeyBank electronically and eCommerce [insert link to eCommerce page] opportunities.

Contact KeyBank's supplier customer service for general navigation, payment, and purchase order questions:

Toll Free: 800-888-0537 (Monday-Friday, 8 a.m.- 6 p.m. ET)
Email: AP_Customer_Service@keybank.com

  • Most responses made within 48 hours
  • Subject header must include business name
  • Body must include business name, invoice number, purchase order number and description of the problem