KeyBank Expands Online Banking Capabilities With Enhanced Bill Pay Services

CLEVELAND, Sept. 28, 2011 /PRNewswire/ -- KeyBank (NYSE: KEY) is making it easier to pay bills online with an enhanced offering of services that enable customers to send payments faster, avoid late fees and manage all of their payments more effectively.

To view the new features, visit https://www.key.com/gen/html/mkt-new-bill-pay.html .

Today, fifty-two percent of Key's customer interactions take place through the web and mobile channels, and Key expects that number to grow. Based on usage and feedback from customers on the services they value most, Key is making significant investments to improve and expand its online banking capabilities as part of its goal to be the primary relationship bank for its customers.

"Bill Pay from KeyBank gives customers total control of who they pay, how much they pay and when they pay, all from a single screen," said Dean Kontul, executive vice president and director of integrated channel management. "While our branch network is critical  to our clients and our business strategies,  in this day and age our clients are looking for more and improved self service alternatives that add security, save time and are easy to use."  

Bill Pay Helps Avoid Late Fees, Saves Time, Improves Organization

Customers who choose online Bill Pay services will see a number of benefits. They no longer will have to spend time organizing and collecting bills, writing checks and making trips to the post office. Instead, they can see and pay their bills safely and securely at their convenience on their computer. While payments can be set up to occur automatically, customers also retain the ability to make manual payments, or even skip a payment if they desire.

"Our customers find that paying bills from one site helps them stay organized and more easily track their bill payments," said Allison Landers, senior vice president of Online and Mobile Banking. "Bill Pay is a dynamic, personalized tool that will eliminate the tedium of paying bills and help our customers manage their money more effectively."

New features of KeyBank's Bill Pay services include:

• eBills. This allows users to view bills from major payees like utilities inside Online Banking and pay them with just a few clicks--or even automatically. Users no longer need to visit multiple Web sites or remember multiple UserIDs or Passwords to pay their regular bills.

• Expedited Payments Option. Late fees can be avoided with the Expedited Payments option. Although Key now guarantees electronic payments will be processed in two business days and paper payments in four business days, sometimes a faster alternative is needed. The Expedited Payments option guarantees that a payment will get where it needs to be within a single business day.

• Viewing all payees in one spot on the new "bill rack". The user can see a list of all of the people and companies to be paid, sort the list alphabetically or by due date with icons for easy identification, and check the status of each bill payment. This eliminates the need to access multiple sites and remember several different passwords. An interactive calendar shows when payments are due and past due, and when they will arrive at their destination. Several KeyBank products, such as installment loans, can be set up automatically.

• Easier and faster bill paying. Payments can be scheduled one at a time, or in batches, with a single click. Details of each payment, such as when it was scheduled and paid, are right on the screen. Reminders will be sent when each bill comes due.

• More comprehensive bill management. Customers can manage their bills more easily with tools that allow them to see up-to-the-minute balance information, review up to 24 months of payment history, determine how future payments will affect account balances, and add notes and memos to certain payments.

About KeyCorp
Cleveland-based KeyCorp (NYSE: KEY) is one of the nation's largest bank-based financial services companies, with assets of approximately $90 billion. Key provide investment management, retail and commercial banking, finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. For more information, visit https://www.key.com/. KeyBank is Member FDIC.      

SOURCE KeyCorp Corporate Communications