KeyBank Basic Business Checking
Ideal for growing businesses with lower monthly balances, KeyBank Basic Business Checking has every feature you need to monitor your business income and spending anytime, anywhere.
Overview
| Monthly Service Fee | $5 or $01 |
|---|---|
| Monthly Included Transactions | 200 combined transactions, plus unlimited ACH and bill pay transactions2 |
| Overdraft Protection | Link this account to an eligible KeyBank business account3 |
| Minimum Opening Deposit |
$25 |
Features
Waivable monthly service fee
Fee is waived with at least a $1,000 average daily balance per monthly statement cycle or $10,000 in combined balances from business deposit accounts, commercial loans and lines of credit (sole proprietors may also include personal account balances).1
Key@Work® eligible
A comprehensive, no-cost financial wellness benefit for your employees, Key@Work gives your team banking tools, perks and discounts to help them reach their financial goals, minimize stress and improve productivity.
The monthly Maintenance Service Charge of $5 for the KeyBank Basic account can be avoided if any of the following balance requirements are met during the monthly statement period as follows:
- The Average Ledger Balance in your KeyBank Basic Business Checking account was $1,000.00 or more during the monthly statement period; or
- The total of the following was $10,000.00 or more: 1) the combined cycle-to-date Average Ledger Balance in any combination of business checking (excluding certain business accounts opened for the benefit of others), business savings, and business certificates of deposit accounts within two business days prior to your KeyBank Basic Business Checking account statement cycle date; and/or 2) the outstanding balance of all commercial loans and lines of credit including your Business Cash Reserve credit account(s) (excluding balances past due 60 days or more) as of no more than five business days prior to your KeyBank Basic Business Checking account statement cycle date.
Additionally, if you are the sole owner of your business, the list of account balances that may be combined to avoid the monthly Maintenance Service Charge on your KeyBank Basic Business Checking account includes all of the above business accounts and certain of your personal accounts as outlined below. You may avoid the monthly Maintenance Service Charge on your KeyBank Basic Business Checking account if the following balance requirement is met:
- The total of the following was $10,000.00 or more: 1) the combined cycle-to-date Average Ledger Balance in any combination of personal and business checking, personal and business savings, and personal and business certificates of deposit accounts within two business days prior to your KeyBank Basic Business Checking account statement cycle date; and/or 2) the outstanding balances of your standard consumer loan/line of credit balances (excluding balances past due 60 days or more) as of no more than five business days prior to your KeyBank Basic Business Checking account statement cycle date. See account opening disclosures for more information.
As used herein, “sole owner” means a natural person doing business as a sole proprietor and excludes separate legal entities such as corporations, partnerships, limited liability companies and not-for-profit enterprises.
Standard consumer loan and line products including credit cards with KeyBank NA. Certain non-standard loans and lines of credit may not be included.
Transactions exceeding the monthly included transactions will be charged a fee in accordance with the Deposit Account Disclosures.
Eligible accounts include a KeyBank business savings account, KeyBank business credit card or a KeyBank business cash reserve credit account.
Credit products are subject to credit approval and terms of service.
Please read our Small Business Agreements and Disclosures. If you opened your deposit account online within the past 90 days, you may also review the original agreements and disclosures provided to you.
