Interest on Excess Account
Manage cash, reduce fees and earn interest.
Key's Interest on Excess (IOE) account is a multifunctional account that uses the Earnings Credit Allowance to reduce service fees, earn a competitive interest rate and provide unlimited access to funds.
Overview
| Minimum Opening Deposit |
None1 |
|---|---|
| Service Fees |
Cash Management pricing applies |
| Earnings Credit Allowance | Yes2 |
Features
- A monthly account analysis summarizes your service charges and balance to calculate your earnings credit allowance (ECA), a credit we use to offset bank services, excluding direct charges.
- Once all service charges are offset, excess balances are multiplied by the interest rate, and interest is applied to the designated IOE account.
Benefits
Save time
Simplify your cash management by eliminating the need for sweeping or manually moving funds between accounts.
Gain efficiency
Key handles the monthly analysis and ECR calculations, provides clear and accurate reports including charges, balances, fees and interest earned.
Optimize funds
Maximize your earnings potential by applying both an ECR and interest to your balances.
Let’s get started.
To learn more about how an IOE account can help your organization, contact your Payments Advisor or contact us.
Account will be automatically closed if it is not funded within 60 days.
Earnings Credit Allowance. This Account is eligible to receive an Earnings Credit Allowance that can be used to offset some or all of the monthly service charges. The Earnings Credit Allowance is calculated on 100% of the average positive collected balance in the Account at the Bank's Earnings Credit Rate. The Earnings Credit Rate may change at any time without notice to you and may vary based on the level of positive collected balances held in the Account. The Earnings Credit Rate and Earnings Credit Allowance are displayed on Account Analysis Statements. Contact your Cash Management Advisor/Sales Officer for Earnings Credit Rates.
Subject to terms and conditions of service agreement.
KeyBank Member FDIC.
