Discover Bank vs KeyBank
Discover Bank is a solid online bank with high APY rates and good customer service. How does it compare to KeyBank? Read our comparison chart below.
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.
While 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.
Compare Discover Bank with KeyBank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Discover Bank | KeyBank | |
|---|---|---|
Online Savings Account - Earn 0.95% APY - | Key Checking Account - $250 Bonus - | |
Benefits and Features | ||
| Savings | 0.01% 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. | |
| CD | 0.25% to 1.05% APY. Terms of 3 months to 10 years. 12-month CD APY of 0.90%. Minimum deposit of $2,500 to open. | Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500. Promotional CD: 0.05% APY. Terms of 14 months. Minimum deposit of $100,000. |
| Checking | Earn 1% cashback on up to $3,000 in debit card purchases each month | |
| Money Market | 0.80% APY under $100,000; 0.85% APY $100,000 or more. $2,500 minimum deposit. | 0.01% APY. $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. |
| Customer Service | Telephone Service available 24/7 | |
| ATMs | More than 1,500 ATMs in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington. | |
| IRA CD | 12-month CD APY of 0.90%. 24-month CD APY of 0.90%. 5-year CD APY of 1.05%. | |
| Locations | More 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. | |
CreditDonkey® Reviews | ||
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| Savings |   |  |
| Checking | | |
| Money Market | | |
| Customer Service | | |
| Mobile App | | |
| CD | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Solid online bank with high APY rates and good customer service... | Bank with a variety of deposit products and great financial tools... |
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| 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. Discover Bank: Pricing information from published website as of 5/29/2020 KeyBank: Pricing information from published website as of 08/05/2020 based on 44114 zip code. | ||
Which is Better: Discover Bank or KeyBank?
Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing Discover Bank 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 Discover Bank
Discover Bank
Discover Savings Rate
Discover Checking Account Review
Discover CD Rates
Articles on KeyBank
KeyBank Review
KeyBank Routing Number
Which Do You Think is Best?
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 Chase Checking Account BonusChase is currently offering cash bonuses for opening a new checking account. See the current checking account bonus promotions before they expire. | ||