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. 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.

	KeyBank	Discover Bank
	Member FDIC	Member FDIC
	Visit Site	Visit Site
	SPECIAL OFFER Key Smart Checking® - $300 Bonus - Learn More Read KeyBank Review	SPECIAL OFFER Discover® Online Savings - $200 Cash Bonus - Learn More Read Discover Bank Review
	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).	3.75% APY
CD	Standard Term CD: 0.05% APY. Terms of 7 days to 10 years. Minimum deposit of $2,500.	2.00% to 4.00% APY depending on terms
Checking		Cashback Debit Account: 1% cash back on up to $3,000 in debit card purchases each month. See website for details
Money Market	2.92% 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.	3.60% APY under $100,000; 3.65% APY $100,000 or more.
ATMs	40,000+ KeyBank and Allpoint ATMs nationwide	Over 60,000 no-fee ATMs
Customer Service	Telephone Service available 24/7	24/7
IRA CD		9-month CD APY of 3.80%. 12-month CD APY of 4.00%. 18-month CD APY of 3.80%. 24-month CD APY of 3.50%. 5-year CD APY of 3.40%.
Locations	1,000+ branches in 15 states: Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, and Washington.	Online Only
	CreditDonkey® Reviews

Savings
CD
Checking
Money Market
Mobile App
Customer Service
Pros & Cons	Pros: Key Financial Wellness Review tool Free checking option 24/7 customer service Cons: Limited branches High account fees	Pros: High yield No fees 24/7 customer service Cons: No interest checking
Bottom Line	Bank with a variety of deposit products and great financial tools... Read full review	Solid online bank with high APY rates and good customer service... Read full review
	Visit Site	Visit Site
	Key Smart Checking® - $300 Bonus	Discover® Online Savings - $200 Cash Bonus Discover® Online Savings - $150 Cash Bonus Online Savings Account - Earn 3.75% APY
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 08/07/2024 based on 44114 zip code. Discover Bank: Pricing information and data points from published website as of 11/20/2024.

Member FDIC

Key Smart Checking® - $300 Bonus

Learn More

Expires 5/16/2025

Earn $300 after qualified activities until 05.16.25 with the no-monthly-maintenance-fee Key Smart Checking®.

Open a Key Smart Checking® account online by May 16, 2025.
Make the minimum opening deposit of $10, plus one single eligible direct deposit of at least $1,000 within the first 60 days of account opening.
Your $300 cash bonus will be deposited into your account within 60 days of meeting requirements. Account must not be closed at the time of gift payment.

Member FDIC

Discover® Online Savings - $200 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 03/13/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding your Account, see FAQs on Discover.com/Bank. See advertiser website for full details.

Get Deal

Expires 3/13/2025

Member FDIC

Discover® Online Savings - $150 Cash Bonus

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY924 at application, 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. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

Get Deal

Expires 3/13/2025

Member FDIC

Online Savings Account - Earn 3.75% APY

Get Deal

No fees
No minimum opening deposit
No minimum balance required

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.

Articles on KeyBank

KeyBank Review

Are you looking for a no-frills checking account or maybe a bank that offers relationship banking services/interest rates? You may have found your fit with KeyBank.

KeyBank Routing Number

Looking to transfer money in or out of your KeyBank checking or savings account? Find your KeyBank routing number and learn more about money transfers in our guide.

Articles on Discover Bank

Discover Bank Review

Discover® Bank offers high interest rates on its online savings and CD accounts. But there are downsides. Here's what you need to know before you open an account.

Discover Savings Review

Make your money work with Discover® Bank high yield savings: high interest, no fees. Find out its benefits, drawbacks, and the easy way to open an account.