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. 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 | |
|---|---|---|
Discover Online Savings - $200 Cash Bonus - | Referral Program - Up to $500 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 | 0.50% to 3.25% APY. Terms of 3 months to 10 years. $2,500 minimum | 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 | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | |
| Money Market | 1.60% APY under $100,000; 1.65% 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 2.50%. 24-month CD APY of 2.90%. 5-year CD APY of 3.25%. | |
| 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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| Mobile App | | |
| CD | | |
| Pros & Cons | 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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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 and data points from published website as of 08/19/2022 KeyBank: Pricing information from published website as of 3/9/2022 based on 44114 zip code. | ||
Discover Online Savings - $200 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account (online, by phone or Discover App). Enter Offer Code CY622 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 09/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Discover Online Savings - $150 Cash Bonus
To get your $150 or $200 Bonus: What to do: Apply for your first Discover Online Savings Account (online, by phone or Discover App). Enter Offer Code CY622 when applying. Deposit into your account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Deposit must be posted to account within 30 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers or existing or prior customers with savings accounts that are co-branded, or affinity accounts provided by Discover. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 30 days of the account qualifying for the bonus. Bonus is interest and subject to reporting on Form 1099-INT. Offer ends 09/15/2022, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.
Online Savings Account - Earn 1.70% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Which is Better: Discover Bank or KeyBank?
Still need help deciding which bank reviews & deals 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, money market, and customer service are worth mentioning. In particular, the customer service is outstanding.
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Articles on KeyBank
KeyBank Review
