at Synchrony Bank,

Member, FDIC

Pros

2.25% APY on savings, about the best you'll find
Reimburses $5 per month for out-of-network ATMs

Cons

No checking account
No branches

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Overall

4.0

Synchrony doesn’t fit the banking mold — it doesn’t have branches or offer a checking account. Still, it’s worth considering if you want 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 | Updated March 18, 2019

Savings

5.0

Synchrony's high-yield savings account comes with low fees and one of the highest rates on the market, at 2.25% APY. No minimum balance is required to open an account or qualify for the interest rate. Synchrony doesn't charge fees for using ATMs that accept its bank card — those with Plus or Accel logos. But ATM owners might charge a fee. For those charges, Synchrony bank offers a monthly $5 refund.

 

Want to see more options? Check out NerdWallet’s best high-yield online savings accounts

High Yield Savings Account
APY
2.25%
Min. balance for APY
$1

at Synchrony Bank,

Member, FDIC

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
Fair
Website / app
Poor
Rates
Excellent
Fees
Low
Good Rates, but poor service.
I enjoy the rates you receive for this account. However, the website is horrible. For some reason, nearly every time I try to log in, it can't accessed due to the site having "technical difficulties". This kind of defeats the purpose of on-line banking. I hope this problem is corrected soon for them. I have already moved most of my money to another account because I am not comfortable not being able to access my account online 75% of the time. If not corrected, I will probably just close it and move to another.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
FRAUD
Synchrony Bank keep trying to get my SS number and call me 20 per day. My answer machine is full of stupid messages every single day. BE CAREFUL
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