Advertiser Disclosure

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
Poor
Website / app
Poor
Rates
Poor
Fees
High
Inflexible, Rigid, and Ultimately Unhelpful
I've tried emailing requests, automated requests from their website, calling customer service (staffed with overseas handlers) and even the online chat features. I had two requests: the first one was, could the payment I had just made to the account on July 13th at 11PM be credited to the bill I received less than six hours later on July 14th. I was told that their 21st Century computerized system couldn't apply that payment because there was no bill available to make that payment to, which is an incredible falsehood: every account has a running balance that ANY payment can be applied to. Moreover, they should easily be able to override their own system b just moving that payment electronically to the "next payment" option. But they refused, citing "it's impossible" over and over again. My second request was for a modest $50 increase in my available line of credit. Again, they deferred to their vaunted computerized system, which made all decisions without any ability for customer service to intervene. People, don't use this company. They don't believe in the power of actual human beings; they're only interested in the money they can make from your money in their system. I haven't even begun to describe the high costs of their interest rates.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Worst Card To Have
This is possibly the worst customer service for this card that exists. My card was lost and I had just moved. I called in both lost card and address change. It took over 20 minutes to get a new card and address changed. I received the bill at the new address with the wrong zip code and never received the card. I called in to correct the zip code and it took 9 calls because they couldn't verify my phone number or the address (that was wrong). 9 phone calls to get 2 digits on an incorrect zip code that they entered. Paying off and closing my BP credit card. I understand security measures but this was beyond reasonable.
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