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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.

 Discover Bank
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Discover Bank

KeyBank

SPECIAL OFFER
Online Savings Account - Earn 0.95% APY - Learn More

Read Discover Bank Review

SPECIAL OFFER
Key Checking Account - $250 Bonus - Learn More

Read KeyBank Review

 

Benefits and Features

Savings
0.95% APY
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.
CD0.25% 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.
CheckingEarn 1% cashback on up to $3,000 in debit card purchases each month 
Money Market0.80% 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
24/7
Telephone Service available 24/7
ATMs
Over 60,000 no-fee 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 CD12-month CD APY of 0.90%. 24-month CD APY of 0.90%. 5-year CD APY of 1.05%. 
Locations
Online Only
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

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


    Articles on KeyBank


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