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Section 4

Drawdowns


A drawdown is a message initiated by Key and sent to a different financial institution, requesting funds from an account at that institution be wired to your account at Key. Generally speaking, the receiver of a drawdown request needs to have instructions and authorizations set up with their bank in order for the drawdown to be honored.

If the receiver of the drawdown request accepts the drawdown, the received wire will appear with all of your other incoming wires in KeyNavigator reporting.

4.1 Creating One-Time Drawdowns in KeyNavigator

  • From the KeyNavigator home page, click on the Payables section, and select Wires.
  • From the Wires home page, select Create Drawdown.

    Create Drawdown

  • Select Domestic Drawdown

    Create Drawdown

Complete the required fields. Click Next to proceed with the request or Cancel to return to the Create Drawdown screen.

Create Drawdown

If you selected Next an approval screen will be displayed.

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

Approve Drawdown

After accepting the template, a Confirmation screen will appear. The confirmation screen will include the status of the wire. If you are using secondary authorizations, that action will need to be taken by another person before the drawdown request will be released.

From the confirmation screen you can:

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

    Approve Drawdown

4.2 Creating and Using Templates for Drawdown Requests on KeyNavigator

Templates allow users to initiate drawdowns from pre-populated template screens without having to re-key information every time the drawdown request is sent.

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.

4.3 Creating a Drawdown Template on KeyNavigator

  • From the KeyNavigator home page, click on the Payables section and select Wires.
  • Select Create Domestic Drawdown Template

    Create Domestic Drawdown Template

Complete the required fields. You can refer to the one-time drawdown section above for details about drawdown fields.

Create Domestic Drawdown Template

Select Next to proceed with creating the drawdown template or Cancel to stop the process. If you selected Next an approval screen will be displayed.

Click Accept to approve the template (or you can cancel or edit the instructions). After accepting the template, 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

    Approve Domestic Drawdown Template

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.

4.4 Using a Template to Create a Drawdown

After the template has been created and approved it can be used to initiate a drawdown. From the KeyNavigator home page, click on the Payables section, and select Wires. Select Create Drawdown. On the left hand side of the screen, enter the template number or select it from the template listing.

Create Drawdown

Create Drawdown

Complete the fields in the References section and click Next to proceed.

Minimum required fields are the Amount and the Date to Transmit.

NOTE: Key suggests 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.

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

Approve Drawdown

After accepting the template, 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

Domestic Drawdown Confirmation