Discover Bank is an online-only financial institution offering different banking services like checking, savings, money market and even CDs.
They offer high interest rates that are comparable to other big named banks, so be sure to check out all the products they have.
While KeyBank has over 1,200 branches across 16 states. They offer a variety of checking and savings account options with differing perks such as lower loan rates, higher APY rates on savings options, and more!
However, KeyBank does have higher monthly fees with more difficult monthly fee waivers. If the fees are a bit much, no worries as there is a free checking account option.
Continue reading below to see a side-by-side comparison between Discover and KeyBank, so you can see which one offers the services you need the most.
| PROMOTIONAL LINK | OFFER | REVIEW |
| Discover Bank Online Savings | $200 Cash | Review |
| Discover Cashback Debit | $360 Cash Back | Review |
| Discover Bank CD | Up to 0.80% APY | Review |
| Discover Bank Money Market | Up to 0.35% APY | Review |
| Discover Bank IRA CD | Up to 0.80% APY | Review |
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| Discover | KeyBank | |
| Locations | Online-only bank | More than 1,200 branches across 16 states (Locator) |
| ATMs | Over 60,000 no-fee ATMs | More than 1,500 ATMs in the states listed above. |
| Savings | 4.5/5 | 2/5 |
| CD | 3.5/5 | |
| Checking | 4.5/5 | 4.5/5 |
| Money Market | 5/5 | 2.5/5 |
| Customer Service | 5/5 | 4.5/5 |
| Mobile App | 5/5 | 4.5/5 |
| Pros | -High yield -Cashback checking -24/7 customer service |
-HelloWallet financial tools -Free checking option -24/7 customer service |
| Cons | -No interest checking -$2,500 minimum deposit for CDs |
-Limited branches -High account fees |
| Bottom Line | Discover Bank offers some of the highest interest rates on the market. | KeyBank offers great tools to meet your financial goals with a variety of deposit accounts. |
Table of Contents
Discover Bank Promotions
 Open a Discover Online Savings Account for all these features: • Bonus offer applies for your first Discover Online Savings Account • Earn $200/$150 Bonus with promo code HMB21 by 12/15/2021 • Fund your first savings account with at least of $25K within 30 days of account open date to earn the $200 Bonus • Fund your first savings account with at least of $15K within 30 days of account open date to earn the $150 Bonus • Earn high interest rate of 0.40% APY • No minimum opening deposit, no minimum balance requirement, and now no fees • Interest on Discover Online Savings Accounts is compounded daily and credited monthly • Manage your account online or with the Discover mobile app • FDIC insurance up to $250,000 See advertiser website for full details |
 • Get started and open a Discover Money Market Account in 3 easy steps. • Available nationwide online • Earn high yields with flexible access to your cash. • Earn 0.35% APY balances $100,000 and over • Earn 0.30% APY balances under $100,000 • Open with as little as $2,500. • No hidden fees. No surprises. • Easy cash access via debit or check, or via ATM at over 60,000 no-fee ATMs |
• Available nationwide online, Discover offers CDs with some of the highest & most competitive rates! with select terms as short as 3 months up to 120 months • Rates ranging from 0.20% APY up to 0.80% APY. • Opening a Discover Bank Certificate of Deposit is extremely quick and easy. • Funds on deposit are FDIC-insured up to the maximum allowed by law. • Start today with a minimum deposit of $2,500! • Get started and open a Discover CD in 3 easy steps. |
• Available nationwide online • Select terms as short as 3 months up to 120 months • Rates ranging from 0.20% APY up to 0.80% APY • Start today with as little as $2,500! • Step-by-step help available 24/7 by phone • Flexible options: Roth (pay now, save later) & Traditional IRAs (earn now, pay later) • Gather your retirement savings into one place. • Just three steps and you’re on your way to saving with a Discover IRA CD. |
Compare to Other Banks
- Discover Bank vs Chase
- Discover Bank vs Ally Bank
- Discover Bank vs Bank of America
- Discover Bank vs Wells Fargo
Bottom Line
Which Bank is Better: Discover or KeyBank?
In summary:
- Discover Bank’s savings and customer service are worth checking out since it offers high-interest rates compared to traditional savings accounts that pay very little interest.
- KeyBank offers a variety of deposit account options. Their mobile app suits a great user experience.
For other banking options, see our list of the best bank account bonuses & savings account offers.
More on Discover:
More on KeyBank:
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