Domestic payments (RTP and Wire)

I want to send money from my KeyBank account to pay a company.

This is the most common type of payment. A KeyBank client sends U.S. dollars to a beneficiary that banks with a different U.S. financial institution.

Example: Tom Jones sends money from his KeyBank account to ABC Company, which banks at Northstar Financial Bank.

Domestic third-party payment (Wire)

I want to wire money to a smaller bank that does not accept wire transfers directly.

This is a domestic third-party (or intermediary) wire payment. Some smaller banks and credit unions do not accept wire transfers directly from the Federal Reserve. Instead, they rely on a correspondent or intermediary bank that does accept wires.

Example: John Smith wants to wire money from his KeyBank account to Beatrice Simpson, who banks at Otto’s Savings and Loan. Otto’s does not accept wire transfers directly. Beatrice provides wiring instructions from her bank, which specify an intermediary bank—Northstar Financial Bank.

In this scenario, KeyBank sends the wire to Northstar, which then forwards the funds to Otto’s Savings and Loan for credit to Beatrice’s account.

On Behalf Of payment (RTP and Wire)

I need to pay on behalf of someone else.

An On Behalf Of (OBO) payment occurs when the sender initiates a payment on behalf of the payer—the individual or organization that owes the funds. The sender executes the payment, but the payer retains the financial obligation. The payee is the party receiving the funds (for example, a vendor, employee, or utility company).

Notes:

• Nested OBO payments (involving more than one payer or payee) are not supported.
• OBO payments are more common with RTP. When used with wire transfers, they are generally treated as domestic third‑party wire payments.

Example: Perry Johnson operates a property management company and needs to pay utility bills on behalf of tenants. Perry uses Summit National Bank as a payment processor. Summit holds the account at KeyBank and initiates the payment.

Summit sends the funds from its KeyBank account to EZ Electric Company, which banks at Northstar Financial Bank. In this scenario, Summit National Bank is the KeyBank account holder, not Perry Johnson.

Domestic drawdown (Wire)

I need to request funds from another party.

A domestic drawdown payment is used when you need funds from another party’s account. Payroll processors and similar service providers commonly use this. There must be a signed debit authorization agreement between the parties.

Example: ABC Company has a debit authorization agreement with XYZ Company, which banks at Northstar Financial Bank. ABC Company submits a drawdown request for a specific amount. Northstar can either release the funds or reject the request based on the agreement and available funds.

International Payment (Wire)

I need to send money to a company outside the United States.

International wire transfers support beneficiaries whose banks are located outside the United States and its territories. Payments are currently supported in USD and require global bank identifiers such as a BIC.

Example: Geraldine Marmalade sends a payment from their KeyBank account to DE Sports; a company located in Germany. The beneficiary bank is Worldlink Financial in Stuttgart.