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 15 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. 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.
Visit Site | Visit Site | |
KeyBank | Discover Bank | |
---|---|---|
Key Select Checking® - $200 Bonus - | Online Savings Account - Earn 4.25% APY - | |
Benefits and Features | ||
Savings | 0.01% APY. $10 minimum opening deposit. $4 monthly maintenance fee unless you are an owner of a KeyBank consumer checking account (including the KeyBank Hassle-Free Account). | |
CD | Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500. | 2.00% to 4.70% APY depending on terms. $2,500 minimum |
Checking | Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details | |
Money Market | 2.93% blended APY on balances of $25,000 or more. $5,000 minimum opening deposit. Monthly maintenance charge of $20. Can be waived with $25,000 daily balance OR having a relationship package checking account. | 4.00% APY under $100,000; 4.05% APY $100,000 or more. $2,500 minimum deposit. |
ATMs | More than 40,000 KeyBank and Allpoint ATMs nationwide | |
Customer Service | Telephone Service available 24/7 | |
IRA CD | 12-month CD APY of 4.70%. 18-month CD APY of 4.40%. 24-month CD APY of 4.00%. 5-year CD APY of 3.75%. | |
Locations | More than 1,200 branches in 15 states: Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington. | |
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Money Market | ||
Mobile App | ||
Customer Service | ||
Pros & Cons | Pros:
| Pros:
|
Bottom Line | Bank with a variety of deposit products and great financial tools... | Solid online bank with high APY rates and good customer service... |
Visit Site | Visit Site | |
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 03/05/2024 based on 44114 zip code. Discover Bank: Pricing information and data points from published website as of 03/15/2024. |
Key Select Checking® - $200 Bonus
- Open a Key Select Checking® account online by July 19, 2024.
- Make the minimum opening deposit of $50, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.
Key Select Checking® is a premium checking account that earns interest and a $100 cash bonus year after year with qualifying activities and has a waivable monthly maintenance fee.
Key Smart Checking® - $200 Bonus
- Open a Key Smart Checking® account online by July 19, 2024.
- Make the minimum opening deposit of $10, plus one direct deposit of at least $500 within the first 60 days of account opening.
- Your $200 cash bonus will be deposited into your account within 90 days of meeting requirements. Account must not be closed or restricted during the time of promotional period.
Online Savings Account - Earn 4.25% APY
- No fees
- No minimum opening deposit
- No minimum balance required
Online Checking Account - Earn Cash Back
- 1% cash back on up to $3,000 in debit card purchases each month. See website for details
- No fees
- Early Pay - Get your paycheck up to two days early with no charge
- No credit impact - You can apply without affecting your credit score.
- Access to over 60,000 no-fee ATMs in the U.S.
Discover® Cashback Checking – Up to $30/Month Cashback
Earn 1% cash back on up to $3,000 in debit card purchases each month, for a total of up to $30 cashback per month. Discover Cashback Debit checking account has no minimum balance requirement, no fees, and free online bill pay. See website for details.
Which is Better: KeyBank or Discover Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing KeyBank or Chase.
In short: Discover Bank's savings, money market, and customer service are worth mentioning. In particular, the customer service is outstanding.