KeyBank Basic Business Checking
Keep it basic with this account that gives you plenty of features to help monitor and track your business spending, along with convenient online options to pay bills anytime, anywhere. Our Basic Business Checking Account is ideal for growing businesses with low monthly balances.
|Minimum Opening Deposit|| |
|Monthly Maintenance Service Charge|| |
$5, waived if $1,000 average balance per statement cycle or $10,000 in combined balances in business deposit accounts, commercial loans, and line of credit accounts1 is met
|Online Banking with Bill Pay||
Unlimited payments at no charge
1,200+ branches, 1,500+ ATMs
|Currency Handling|| |
$25,000 deposited per statement cycle at no charge
- Up to 200 combined transactions per statement cycle at no charge. Automated Clearing House (ACH) and Bill Pay1 transactions do not count toward your total, allowing more transactions at no cost
- Overdraft protection with Business Cash Reserve Credit3, a KeyBank business savings account or KeyBank business credit card3
- KeyBank Relationship Rewards® program lets you earn points just by using your business checking account, debit card or expanding your KeyBank4 relationship
- Access to Key@Work, which allows you to offer free and discounted banking services to employees at no cost to you
- No cost online banking and Bill Pay2
Please read our Small Business Agreements and Disclosures. If you opened your deposit account online within the last 90 days, you may also review the original agreements and disclosures provided to you.
Minimum opening deposit of $25 is required. Accounts closed within 180 days charged $25. Other charges may apply.
The monthly Maintenance Service Charges for the KeyBank Basic Business Checking, KeyBank Business Interest Checking, and Key Business Reward Checking Accounts can be avoided if any of the following balance requirements are met:
The Average Ledger Balance in your business checking account during the monthly statement period was as follows:
The Average Ledger Balance in your Key Basic Business Checking account was $2500.00 or more ($1000.00 or more after May 11,2018),
The Daily Ledger Balance in your KeyBank Business Interest Checking was $5000.00 or more,
The Average Ledger Balance in your Business Reward Checking Account was $7500.00 or more;
The Combined cycle-to-date Average Ledger Balance in your all your accounts listed below during the monthly statement period was as follows:
The Combined cycle-to-date Average Ledger Balance in your Key Basic Business Checking account was $10,000.00 or more
The Combined cycle-to-date Average Ledger Balance in your KeyBank Business Interest Checking was $15,000.00 or more
The Combined cycle-to-date Average Ledger Balance in your Business Reward Checking Account was $20,000.00 or more;
Accounts included to determine the combined cycle-to-date Average Ledger Balance include 1)any combination of business checking (excluding certain business accounts opened for the benefit of others), business savings and business certificates of deposit accounts within two business days prior to your primary business checking account statement cycle date; and/or 2) the outstanding balance of all commercial loans and lines of credit including your Business Cash Reserve Credit Account(s) (excluding balances past due 60 days or more) as of no more than five business days prior to your primary business checking Account statement cycle date.
Additionally, if you are the sole owner* of your business, the list of account balances that may be combined to avoid the monthly Maintenance Service Charge on your primary business checking account includes all of the above business accounts and certain of your personal accounts as outlined below. You may avoid the monthly Maintenance Service Charge on your primary business checking account if the above mentioned Combined cycle-to-date balance requirements are met for the respective business checking account.
Accounts included to determine the combined cycle-to-date Average Ledger Balance for sole proprietors include: 1) the combined cycle-to-date Average Ledger Balance in any combination of personal and business checking, personal and business savings and personal and business certificates of deposit accounts within two business days prior to your Key Business Reward Checking Account statement cycle date; and/or 2) the outstanding balances of your standard consumer loan/line** of credit balances (excluding balances past due 60 days or more) as of no more than five business days prior to your Key Business Reward Checking Account statement cycle date.
* As used herein, "sole owner" means a natural person doing business as a sole proprietor and excludes separate legal entities such as corporations, partnerships, limited liability companies and not for profit enterprises.
(**Standard consumer loan and line products include Auto Loans, RV Loans, Marine Loans, Home Equity Loans, Home Equity Lines of Credit, Home Improvement Loans, Key Equity Options, Preferred (Unsecured) Credit Lines, Cash Reserve Credit, Personal Loans, Mobile Home Loans and Airplane Loans with KeyBank NA; and Credit Cards. Certain non-standard loans and lines of credit may not be included.)
Key Merchant Services is subject to credit approval. Both Key Merchant Services and Payroll Processing are subject to the terms and conditions of the service agreement.
All credit products are subject to credit approval.
There may be an annual fee for the KeyBank Relationship Rewards program based on the type of checking account you have.