Standards for Doing Business

KeyBank’s standards for doing business include:

Payment terms — It generally takes 4 business days to process an invoice. Our goal is to issue payments to suppliers within 45 days from date of invoice or other terms defined in our contractual agreement.

Payment options — KeyBank is aggressively expanding efforts to get all of our suppliers enrolled in direct deposit. This service allows you to immediately receive electronic payments from KeyBank along with a fax of the remittance data associated with each payment. Fast, easy, and accurate — Electronic Funds Transfer is simply the best way to receive your payments. Check payments are processed twice a week and delivered by the United States Postal Service.

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 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 and/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 Sourcing. 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 opportunities.

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

Telephone: 419-259-8695 or 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