Key Business Reward Checking®
When you open our most popular business checking account, Key Business Reward Checking1, you gain exclusive discounts on products and services.
Overview
| Monthly Service Fee | $25 or $02 |
|---|---|
| Monthly Included Transactions | 500 combined transactions, plus unlimited ACH and bill pay transactions3 |
| Overdraft Protection | Link this account to an eligible KeyBank business account4 |
| Minimum Opening Deposit |
$25 |
Features
Waivable monthly service fee
Waive the fee if this account is linked to your Key Merchant Services account, or with at least a $7,500 average ledger balance, or $20,000 in combined balances in business deposit accounts, commercial loans and lines of credit (sole proprietors may also include personal account balances).2
Wire Services5
Visit a branch or call us for unlimited incoming and three outgoing domestic wire transfers per statement cycle at no charge.
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.
Minimum opening deposit of $25 is required.
The monthly Maintenance Service charge is waived for the first two months that the account is open.
Beginning in the third month, the monthly Maintenance Service of $25 for the Business Rewards Checking 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 Key Business Reward Checking account was $7,500.00 or more during the monthly statement period; or
- The total of the following was $20,000.00 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 Key Business Reward 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 Key Business Reward Checking account statement cycle date; or
- Subscribe to Key Merchant Services.
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 Key Business Reward 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 Key Business Reward Checking account if the following balance requirement is met:
- The total of the following was $20,000.00 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 Key Business Reward 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 Key Business Reward 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.
For Key Business Rewards Checking account customers, there is no charge for domestic incoming wires, and up to three free domestic outgoing phone or branch initiated wires per monthly statement period. The charge for each domestic outgoing phone or branch wire in excess of three per statement cycle is $30.00.
