Pros

1.30% 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 1.30% 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
1.30%
APY
$1
Min. balance for APY
Learn moreat Synchrony Bank
Certificate of Deposit
1.65%
APY
$2,000
Min. balance for APY
1 year
Length of term
Learn moreat Synchrony Bank
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Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Terrible service
Stay away from this bank they have terrible service almost impossible to talk to a human. Ask too many security question and will not answer questions directly. Everything will be answered in a letter sent in the next 7 to 10 days.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Created a credit mess for me.
Was approved for a store card one day. Had it closed a month later and then they closed another card I had 4 years and NEVER missed a payment!! They caused my credit scores to drop 60 points single handedly in a single month! No explanation just closed.
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