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
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Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
BEWARE
credit cards issued by this bank are denied constantly and there service dept. state it is for fraud protection finally I had had enough so I called to cancel my card and was never told that if I canceled I would not get my $330.00 cash back that I had already earned for that year! And when I never received my cash back check I called to check on it and was told that I lost it when I canceled my account. I ask why I never was told that when I was canceling it and they said that they didn't have to tell me that and that they were instructed not to tell customers that if the cash back was over $25 dollars I was told that it was in the fine print when I applied for the card so they didn't have to tell me about it when I cancelled. SO BEWARE OF THIS BANK THEY ARE CROOKED.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
BEWARE
Will not work with customers with hardships. Customer service reps are beligerent. They close credit card accounts even if you are caught up after a hardship.
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