KeyBank in Cleveland has created a new checking account that eliminates fees for customers who agree not to write checks and do not expect the bank to cover their overdrafts.

The "hassle-free" account, which Key rolled out Monday, is designed primarily for customers who are comfortable banking online or through mobile devices and may not maintain large balances. It comes with no minimum balance requirements and customers can open accounts with as little as $10, Key, a unit of the $90.8 billion-asset KeyCorp (KEY), said in a news release.

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