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Tools & Resources

Introduction


KeyBank (Key) provides a full suite of reconcilement solutions, including Full, Partial and Deposit Reconcilement. Partial Account Reconcilement Plan (ARP) provides a listing of numerically sorted paid checks. Full ARP provides a complete itemized list of all paid and outstanding checks and exception items. This service requires that you submit a check issue file to Key. The Deposit Reconcilement offering provides a list of deposits by store/location number.

Key’s ARP service helps to expedite the internal reconcilement process by providing a report of paid checks, including: serial number, dollar amount, and date, along with any stop payments. Our Full service also provides cancelled checks, paid exceptions, e-check/ACH items, and outstanding checks (unpaid).

Key also provides payee verification (payee positive pay) as an added layer of protection. This service compares the payee information on items presented for payment to the issue data that you provide to us. Items that do not match the issue file are presented for your review.

1.1 ARP guidelines

  • You should submit your file of issued checks as soon as possible after checks are issued. For Positive Pay processing, the deadline is 11:00 p.m. ET on the day prior to the physical distribution of checks (this includes manually issued checks).
  • You can manually enter issue or cancel information through the Account Management module of Key Total Treasury by utilizing the Check Issue Maintenance function.
  • Checks that are manually added after the period-end reconciliation has been completed will be added to the next month’s reconciliation. You should complete these manually added items by the last day of your statement cycle.
  • You are responsible for validation of any Paid No Issue (PNI) items on your reconcilement as a result of an incomplete or missing issue file.
  • You will need to use the file date on all Canceled/Voided items, as using the issue date will change the Previous Outstanding Balance.
  • If using Key Total Treasury, you will automatically be granted access to the Daily Audit Listing Report on Key Total Treasury. This report shows all issues and cancels on the previous day’s file and will be available for you to review on Key Total Treasury after 8:00 a.m. ET.
  • In the event that an incorrect file was sent to Key, you will need to have the file backed out. Please send an email to ARP Transmissions@KeyBank.com, and make sure to include your name and phone number in the email. In the subject line put "Need File Assistance." An associate will then assist you. You can also call the Commercial and Business Banking Center at 800-821-2829.