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KeyBank vs Discover Bank

KeyBank is a bank with a variety of deposit products and great financial tools. How does it compare to Discover Bank? Read our comparison chart below.

KeyBank has over 1,200 branches in 16 states. It offers a range of checking and savings accounts. Some relationship products offer perks like lower loan rates and higher savings APY. Key Bank has higher monthly service fees and heavier requirements to waive, but there is a free checking option.

While Discover Bank offers some of the highest interest rates on the market. CDs go up to 10-year terms and have a minimum deposit of $2,500. In addition, Discover offers checkback checking. There are no service fees.

Compare KeyBank with Discover Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Discover Bank
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KeyBank

Discover Bank

SPECIAL OFFER
Key Checking Account - $200 Bonus - Learn More

Read KeyBank Review

SPECIAL OFFER
Discover Online Savings - $200 Cash Bonus - Learn More

Read Discover Bank Review

 

Benefits and Features

Savings0.01% APY. $10 minimum opening deposit. $4 monthly maintenance fee unless you 1) have $300 daily balance, or have 2) $5 monthly minimum direct deposit or recurring transfer from another Key account, or 3) have a HelloWallet Financial Wellness Score of at least 1.
1.60% APY
CDStandard Term CD: 0.05% - 0.10% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500. Promotional CD: 0.05% - 0.75% APY. Terms of 14 and 20 months. Minimum deposit of $10,000.0.35% to 2.20% APY. Terms of 3 months to 10 years. 12-month CD APY of 2.00%. Minimum deposit of $2,500 to open.
Checking Earn 1% cashback on up to $3,000 in debit card purchases each month
Money MarketStandard rate of 0.05% APY depending on balance. (6-Month Variable bonus relationship rate of 0.22% APY for a minimum opening deposit of $5,000) $50 minimum opening deposit. Monthly maintenance charge of $12. Can be waived with $5,000 daily balance or monthly direct deposit of at least $25.00 or having a qualifying Key Checking Account.1.45% APY under $100,000; 1.50% APY $100,000 or more. $2,500 minimum deposit.
Customer ServiceTelephone Service available 24/7
24/7
ATMsMore than 1,500 ATMs in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
Over 60,000 no-fee ATMs
IRA CD 12-month CD APY of 2.00%. 24-month CD APY of 2.05%. 5-year CD APY of 2.10%.
LocationsMore than 1,200 branches in 16 states: Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.
Online Only
 

CreditDonkey® Reviews

 Discover Bank
Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • HelloWallet financial tools
  • Free checking option
  • 24/7 customer service
Cons:
  • Limited branches
  • High account fees
Pros:
  • High yield
  • Cashback checking
  • 24/7 customer service
Cons:
  • No interest checking
  • $2,500 minimum deposit for CDs
Bottom LineBank with a variety of deposit products and great financial tools... Read full reviewSolid online bank with high APY rates and good customer service... Read full review
 Learn MoreVisit Site
What Others View

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    KeyBank: Pricing information from published website as of 02/24/2020 based on 44114 zip code.

    Discover Bank: Pricing information from published website as of 1/30/2020

    Which is Better: KeyBank or Discover Bank?

    Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing KeyBank or Chase.

    In short: Discover Bank's savings, checking, money market, and customer service are worth mentioning. In particular, the money market and customer service are outstanding.


    Articles on KeyBank


    Articles on Discover Bank


    Which Do You Think is Best?


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    CIT Bank Promo Code

    Get $150 cash bonus with $25k deposit or $300 cash bonus with $50k deposit. You must use the promo code to get this deal. CIT Bank promotion is open to new AND existing customers. Limited time offer expires 5/30/2020.

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