Advertiser Disclosure

Pros

1.05% 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.
Cash can't be deposited at ATMs.
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.

Who knows, a separation from your checking account may be just what your rainy-day fund needs to prosper.

Ratings methodology | Reviewed Nov. 10, 2016

Savings

5.0

Synchrony's high-yield savings account comes with low fees and one of the highest rates. Synchrony Bank doesn't charge fees for using its ATM network of more than 2 million STAR, NYCE and Plus machines, but ATM owners might. For those charges, Synchrony bank offers a monthly $5 rebate.

NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Predatory Lender, Borrowers Beware!
I've had a Chevron credit card since 1991. Over the years the bank handling the card for Chevron has changed. For the last several years it has been handled by Synchrony Bank‎. The customer service for my card account is at an all time low. They are quick to charge fees and slow to give you any customer service. When you have questions about your account they are difficult to get a hold of and are very slow to respond to messages. My advice is to not do business with this bank. If you do you'll regret it.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Likes to screw their customers
I have been a customer of theirs with a credit card for over two years now. I have never had any issues with them until now. I made a payment back in December and due to the holidays and weekends, it ended up posting ONE DAY late. I am not upset if they want a late fee, I get it. But they have tagged my account "delinquent" and my payment went up almost $30 a month because of it. When I called them, they said "Yeah, sorry. We have no grace period at all." And the overall attitude was that they do not care if it's a loyal customer or not. It's all about the money. I am currently getting together every cent I can to pay this off and close the account ASAP. I will never do business with them again. I want them nowhere near my credit or credit score. I've never seen customer service this bad in my life.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.