KeyBank launches check fraud tool for small businesses at $5 monthly

KeyBank (NYSE: KEY) announced that its Check Control for Business service is now fully available to KeyBank Business Online clients, targeting small businesses with $10 million or less in annual revenue.

The service costs $5 per enrolled account per month and allows business owners to monitor check activity, identify suspicious transactions, and mark checks for return through a PC or mobile device. Clients can self-enroll within digital banking in under one minute, according to the company.

Features include daily check viewing, confirmation of check amounts, numbers and payees, the ability to return suspicious or duplicate checks, and customizable alerts. The service also functions as a check reconciliation tool.

According to the Federal Reserve's Business Payments Study, 83% of small firms use paper checks for business payments, and more than $1 billion is recovered annually in counterfeit checks and money orders.

"Check fraud continues to be a growing challenge for businesses as tactics evolve," said Victor Alexander, Head of Key's Consumer Bank.

Check Control for Business is available only to eligible business checking accounts on the Key Business Banking Platform. Accounts already enrolled in KeyNavigator check fraud services, including Positive Pay, are not eligible.

KeyCorp is headquartered in Cleveland, Ohio, with approximately $189 billion in assets as of March 31, 2026, and operates roughly 950 branches across 15 states.

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