Pros

1.20% APY on savings, about the best you'll find.
No fees for ATMs in its network; reimburses $5 a month for out-of-network ATMs.

Cons

No checking account.
Only one branch location, in Bridgewater, New Jersey.

Overall

4.0

With only one branch location and no checking account options, Synchrony doesn’t fit the mold of most banks. Still, this bank is worth considering if you like great interest rates on savings products and prefer banking online.

Maybe a separation from your checking account is just what your rainy-day fund needs to prosper.

Ratings methodology | Reviewed May 12, 2017

Savings

5.0

Synchrony's high-yield savings account comes with low fees and one of the highest rates at 1.20% APY. No minimum balance is required to open an account or qualify for the interest rate. Synchrony Bank doesn't charge fees for using ATMs that accept its bank card — those with a Plus or Accel logo. But ATM owners might charge a fee. For those charges, Synchrony bank offers a monthly $5 rebate.

High Yield Savings Account
1.20%
APY
$1
Min. balance for APY
Learn moreat Synchrony Bank
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Overall
Customer service
Excellent
Website / app
Poor
Rates
Excellent
Fees
Fair
THANK YOU SO MUCH
After hurricane irma. I was left with much needed repairs to my home. No other bank reached out to assist in helping customers with the aftermath of this hurricane. Thank you so much for helping me to be about to fix my repairs by increasing my credit limits. Again thank you.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Worst Banking experience
This is the worst bank experience I have ever had. I used this bank to get 0% credit card for Art Van transaction. They charged me more than the double of my intial value as part of interest mentioning that I didn't pay it within 0% free period. But I was not informed this in any statement or sent normal bank statements like other banks. When I called the bank, they waisted my half a day without any solution. worst banking experience and never recommend to anyone . Stay aware from this bank. This is not a trustable bank. I always paid the amount I was initially asked every month and also the full amount with whatever additional amount they charged at once. Still they didn't bother to thank me or apologize for their mistake. Terrible customer service as well. Once I asked to cancel all my accounts, after settling everything, they sent my statement for the first time with another hidden charging amount.
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