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Business Savings Account Basics

Why should I open a business savings account?

A KeyBank business savings account is a convenient way to keep your small business funds completely accessible while still earning interest. Manage your funds, monitor your cash flow and see your earnings grow. Track transactions with your account register or through your Online Banking Account, where you can see your balance 24/7.

Is the money in my business savings account insured?

Yes. KeyBank business savings accounts are FDIC-insured up to the maximum allowable limit.

What should I look for in a savings account so I can choose the right one?

There are several things to ask before choosing a savings account:

  • Which accounts have monthly fees or service fees, and how can I avoid them?
  • Is there a minimum balance requirement, and can I maintain that balance?
  • Does this account earn interest?
  • Is there a transaction limit on the account?
  • Which accounts have check-writing capabilities and overdraft protection?

Savings Information

How do I view my business savings account activity?

You can view your activity in any of the following ways:

  • Check the monthly statement you receive in the mail
  • Sign onto Online Banking
  • Use KeyBank’s mobile app (must be enrolled in online banking)
  • Call 888-KEY4BIZ® (539-4249) and follow the voice prompts
  • Visit a branch
How can I add an authorized signer to my KeyBank business savings account?

There are two ways to add an authorized signer:

  • Go to a branch
  • Call 888-KEY4BIZ® (539-4249) and follow the voice prompts
When will my funds be available after making a deposit?

Depending on the type of deposit you make at a KeyBank branch, ATM or on a mobile device, your funds may be available the next business day.

There are a few exceptions that may delay your funds’ availability, including:

When making a deposit, be sure you understand when your money will be available so that you can avoid overdrafts and fees. If you have any questions about your funds’ availability, talk to a KeyBank representative by phone or at one of our branches.

How secure is my financial information?

KeyBank uses state-of-the-art technology to ensure your information is kept as safe as possible. We deliver a secure environment through a variety of methods, such as encryption, firewalls and customer-controlled passwords.

Can I write checks from my business savings account?

Both Key Business Silver Money Market® Savings and Key Business Gold Money Market® Savings Accounts provide checks for your convenience.

How do I order business checks?

KeyBank makes it easy for you to order checks for your business savings money market account.

To reorder business checks:

For first-time business check orders,

Which savings accounts offer overdraft protection?

Both Key Business Silver Money Market Savings® and Key Business Gold Money Market Savings® accounts have overdraft protection, which will pay checks you write even if you don't have the balance to cover them. Key Business Gold Money Market Savings can provide overdraft protection for your business checking account as well. Get detailed information about overdraft fees online, or speak to a representative.

Health Savings Accounts

Who is eligible to use a KeyBank Health Savings Account (HSA)?

HSAs are set up by employers for the benefit of employees. Employees are eligible if they:

  • Have a high-deductible health insurance plan
  • Are not covered by another health insurance plan (except those permitted by the IRS)
  • Are not covered by Medicare Are not dependents on someone else’s taxes

Find out more about health savings accounts.

How do I fund and manage KeyBank Health Savings Accounts (HSAs)?

KeyBank HSAs are completely integrated with payroll services, business checking accounts and direct deposit services, making it easy for you and your employees to take advantage of them. And, if you use KeyBank business checking services, then HSA setup, monthly maintenance and annual fees are waived.

Applying for a Business Savings Account

How do I open a business savings account?

You must apply in person at a KeyBank location to open a business savings account for your small business. Find your nearest location.

What information/documentation do I need to apply for a new business savings account?

To apply for a new business savings account, you’ll need the following:

  • Your Social Security number or EIN
  • Business formation papers (DBA, LLC certificate of formation, certificate of incorporation, etc.)
  • Two valid forms of identification. These could include two primary forms (driver’s license, valid passport, government-issued ID with photo and signature) or one primary and one secondary form (credit card, utility bill, lease, or other non-official forms of ID).
  • Minimum required opening deposit (amount varies depending on type of account)

Call Us

888-KEY4BIZ (539-4249)

Clients using a TDD/TTY device:

Clients using a relay service:

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