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.
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 1.05% 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
1.05%
APY
$1
Min. balance for APY
Learn moreat Synchrony Bank
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Overall
Customer service
Excellent
Website / app
Poor
Rates
Excellent
Fees
High
Great for Savings and CD
Have had high yield savings and CDs here for a couple of years now with never a problem, never a fee. Fine customer service; very brief, if any wait on phone. Polite and thorough. Transfer money back and forth with my checking account bank. Was very surprised to read all the negative ratings.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Poor Customer Service
I never write reviews unless something is really great or something is terrible. In this case customer service and just caring for customers is terrible. I have always made payments on time and have never been late. One time I need a little more time and they say they can't do anything. I am being honest and they still can't do anything about it. I will NEVER do business with them again and I will detour anyone who asks about Synchrony. We aren't people we are just dollar signs in their eyes. If you want to be treated as a person and not as a dollar sign don't use them!
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