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Section 3

KeyNavigator


KeyNavigator is our best-in-class commercial online banking channel. If you already have KeyNavigator for other services, it is a convenient alternate channel for initiating wires. If you have a high volume of wires, and find VRU/phone initiation cumbersome, please consider using KeyNavigator.

KeyNavigator

You can log on to KeyNavigator to:

  • Initiate one-time wire transfers (non-repetitive)
  • Initiate repetitive wire transfers using a template
  • Initiate domestic or international wires
  • Initiate internal wire transfers from one Key account to another
  • Pay Federal taxes
  • View your completed wire transfers and corresponding Fed Ref numbers, via the Incoming/Outgoing Wire Report
  • Utilize your Wire Status Report for statuses such as: sent, void, authorization required, reference number pending. You can also view who created and approved each wire.

You can initiate wire transfers from 6:00 a.m. to 5:30 p.m. ET. Extended wire hours are available to initiate wires; once fully approved, these will release the next morning. Contact your Payments Advisor to add this feature. Federal tax payments must be initiated by 4:00 p.m. ET for same day settlement.

Create Internal Wire

All wire transfers initiated through KeyNavigator can be future dated up to 17 business days. Contact your Payments Advisor if you would like to use this feature.

The following sections contain detailed instructions on creating wires and templates.

3.1 Creating and Sending Wires via KeyNavigator

To create one-time wire transfers or utilize templates, hover over the Payables category, and select Wires from the menu. Template usage is covered in detail in sections 3 and 5 of this guide.

Internal, Domestic, International and Federal Tax payments are all initiated in a similar fashion. Detailed instructions are below.

Create Wire

3.2 Initiating One-time Wires via KeyNavigator

From the KeyNavigator home page, click on the Payables Category.

  • Select Wires.
  • Under the Create section, select Create Wire

Create Wire

Create Wire

3.3 Initiating an Internal Wire via KeyNavigator

Internal wires are transfers of funds from one Key account to another Key account.

  • Click Internal Wire from the Create Wire page.
  • Complete the required fields to create an internal wire.
  • Click Next to proceed with the transfer, or Cancel to return to the main page.

    Initiate Internal Wire

    Initiate Internal Wire

  • If you select Next, an approval screen will display.

    Approve Internal Wire

  • Click Accept to approve the wire; you can also Cancel or Edit the instructions.
  • After accepting the wire, a Confirmation screen will appear. This screen will include the status of the wire.
  • Internal Wire Confirmation

From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or Delete the wire (available only if secondary authorization is being used)
  • Create Another Wire
  • Go to the Status Report

If you are using secondary authorizations, your wire will need to be approved by an authorized person before the wire will be released. Please see the Authorizing Transactions section of this guide for additional details.

3.4 Initiating a Domestic wire via KeyNavigator

Domestic wires are the transfer of funds to a U.S. Bank.

  • Click Domestic Wire from the Create Wire screen.

    Create Wire

  • Complete the required fields to create a domestic wire.

    Field Definitions

  • If you need help locating an ABA number use the Find ABA feature or contact the receiver for instructions.
  • Click Next to proceed with the transfer or Cancel to return to the Wire main page.
  • If you selected Next an approval screen will be displayed.

    Create Wire

  • Click Accept to approve the wire (or you can cancel or edit the instructions).
  • After accepting the wire, a Confirmation screen will appear. This screen will include the status of the wire.

    Confirmation Screen

From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or delete the wire (option available only if secondary authorization is being used)
  • Create Another Wire
  • Go to the Status Report

If you are using secondary authorizations, that action will need to be taken by another person before the wire will be released.

3.5 Initiating an International Wire via KeyNavigator

International wires are the transfer of funds to a foreign bank.

  • Click International Wire from the Create Wire screen.

    Create Wire

  • On the first screen the sender information is populated from the user log-on information.
  • If multiple banks will not be involved in the transfer click No and then Next. If multiple banks will be involved, click Yes and Next.
  • See the multibank page below.

    Wire Bank Selection

For Wires using one receiving bank:

  • On the Create International Wire screen (with one receiving bank, the beneficiary’s bank) complete the required fields to create an International wire.
  • If you need help locating the proper SWIFT BIC, use:
    • The Find a SWIFT feature on KeyNavigator
    • Swift.com
    • Or, contact the beneficiary to receive appropriate instructions.
  • Click Next to proceed with the transfer or Cancel to return to the Wire main page.

    Create International Wire

For Wires using Multiple Receiving Banks:

  • On the Create International Wire screen (using intermediary banks) complete the required fields to create an International wire.
  • The First Intermediary Bank (toward the top of the screen) is the bank that receives the funds after the wire leaves Key.
  • Typically the First Intermediary Bank will then transfer to the Beneficiary Bank (information provided in the middle of the screen).
  • Should a Second Intermediary Bank be needed, enter that data in the Intermediary Bank section toward the bottom of the screen.
  • Click Next to proceed or Cancel to return to the Wire main page.

    Wire main page

  • If you selected Next an approval screen will be displayed.
  • Click Accept to approve the wire (or you can cancel or edit the instructions).

    Create International Wire

  • After accepting the wire, a Confirmation screen will appear. This screen will include the status of the wire.

    Wire Confirmation

From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or delete the wire (available only if secondary authorization is being used)
  • Create Another Wire
  • Go to the Status Report

If you are using secondary authorizations, the wire will need to be approved by another user before the wire will be released.

3.6 Initiating a Federal Tax Payment via KeyNavigator

Federal Tax Payment wires are the transfer of funds from a Key account to the IRS. Click Federal Tax Payment from the Create Wire screen. Complete the required fields to create a Federal Tax Payment wire. Click Next to proceed with the transfer or Cancel to return to the Wire main page.

Federal Tax Payment

If you select Next an approval screen will be displayed.

Click Accept to approve the wire (or you can cancel or edit the instructions).

Approve Federal Tax Payment

After accepting the wire, a Confirmation screen will appear. This screen will include the status of the wire.

Federal Tax Payment

From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or delete the wire (available only if secondary authorization is being used)
  • Create Another Wire
  • Go to the Status Report

If you are using secondary authorizations, that wire will need to be approved by another person before the wire will be released.

3.7 Initiating a Multicurrency Wire

The Key Multicurrency Product allows corporate clients to maintain balances in 14 major foreign currencies. Holding a foreign currency account mitigates foreign exchange rate risk. Proceeds from the settlement of foreign receivables can be deposited directly into the account. For additional information on the Key Multicurrency Product, please contact the International Product Team at IntlTradeFinance@Keybank.com.

After the International Trade team has arranged for use of this type of wire, to initiate a multicurrency wire click Create Key Multicurrency Wire from the Create Wire screen.

Create Key Multicurrency Wire

Create Key Multicurrency Wire

Create Key Multicurrency Wire

If you select Next an approval screen will be displayed. Click Accept to approve the wire (or you can cancel or edit the instructions).

Approve Key Multicurrency Wire

After accepting the wire, a Confirmation screen will appear. This screen will include the status of the wire.

Key Multicurrency Wire Confirmation

From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or delete the wire (option available only if secondary authorization is being used)
  • Create Another Wire
  • Go to the Status Report

If you are using secondary authorizations, that wire will need to be approved by another person before the wire will be released.

3.8 Creating and Using Templates for Repeat Wires Introduction

Templates allow your users to initiate wires from pre-populated template screens without having to re-key information every time the wire is sent. At the time of wire initiation only the dollar amounts and dates are required.

You can create templates for internal, domestic, international and Federal tax payments.

NOTE: Templates require secondary approval before they can be used to initiate the wire. The second user, with approval rights on KeyNavigator, must approve the templates via the Authorize Templates function on the main Wire tab. The second user can Cancel, Edit, Void or Authorize.

Template approval can also be completed via KeyNavigator Mobile.

If your organization only has a single user, you are not able to use templates due to the secondary approval requirement. If you want to use templates, please contact your Payments Advisor regarding adding other users and setting up secondary approvals.

3.9 Creating a Template via KeyNavigator

  • From the KeyNavigator home page, click on the Payables section and select Wire.
  • From the Wires main page, choose the Create Wire Template action appropriate for the type of template you wish to create (standard, drawdown, multicurrency).

    Create Wire Template

  • Under Create Wire Template, select the type of wire you wish to create a template for.

    Create Wire Template

Complete the required fields for the payment type selected. You can refer to the Create Wire section above for details about each payment type.

This example is for a Domestic wire template.

Domestic Wire Template

Complete the required information in the template. We recommend completing the Description field in the template with a title that will make it easy for you to identify your various templates. If you do not complete the description field, your template will be assigned a number as an identifier.

After completing the required information, select Cancel to return to the wire main page, or select Next to proceed with creating the template. If you select Next an approval screen will display. Click Accept to approve the template (or you can cancel or edit the instructions). After accepting the template, a confirmation screen will appear.

Approve Wire Template

From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or delete
  • Edit the template
  • Create Another Template

Confirmation Screen

NOTE: Templates require secondary approval before they can be used to initiate the wire. The second user, with approval rights on KeyNavigator, must approve the templates via the Authorize Templates function on the main Wire tab. The second user can Cancel, Edit, Void or Authorize.

Template approval can be completed via KeyNavigator Mobile also.

If your organization only has a single user, you are not able to use templates due to the secondary approval requirement. If you want to use templates, please contact your Payments Advisor regarding adding other users and setting up secondary approvals.

3.10 Using a Template to create a wire via KeyNavigator

After the template has been created and approved, it can be used to initiate a wire.

  • From the KeyNavigator home page, click on the Payables section and select Wires.
  • From the Wire home page, select Create Wire.
  • On the left hand side of the screen enter the template number or select it from the template listing.
  • Create Wire

These fields can be edited before accepting and approving the wire. Minimum required fields are the Amount and the Date to Transmit.

Edit Fields

NOTE: Key recommends that you print and store a copy of wire template details for phone initiation in the event that users are experiencing technical difficulties preventing access to KeyNavigator.

After completing the required information, select Cancel to return to the wire main page, or select Next to proceed with creating the wire.

If you select Next an approval screen will display. Click Accept to approve the wire (or you can cancel or edit the instructions).

Approval Screen

After accepting the wire, a confirmation screen will appear. From the confirmation screen you can:

  • Navigate to the Main Page
  • Void or delete
  • Edit the template
  • Create Another Template
  • Wire Confirmation