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Synchrony Bank Reviews

Average Rating:
Based on 181 reviews

They're just alright.

I've had a high yield savings account with Synchrony Bank since I was 18 years old when I got my settlement check from a dog bite. Their fees are astronomical. I have to pay a ridiculous amount to keep my money with them, when the interest I earn barely makes it worth it. The website frequently locks me out from "failed attempts" to login even though my login information is all correct. I then have to sit on hold for usually about 20 minutes to a half hour and wait for a representative to update and reset my login info. I have been tempted to move my money on numerous occasions.

Disappointed Long Term Customer

Posted by: iamaroc | Sep 8, 2017

Very disappointed with recent notification of the policy to discontinue the practice of voluntary federal withholding on interest earnings. I have literally spent hours over the past 24 months with Synchrony related to this subject and after previous satisfactory handling by them they have now discontinued this valuable service. After opening numerous CD's based on the availability of this service, they now are ending that option. Based on my rather extensive interest earnings, it is essential that I have a bank that offers this. I will be closing out all of my Synchrony accounts as they mature and move the money to a more customer friendly bank. I currently have this service available at all four of my other institutions that I deal with and it makes my year ending tax bill much more manageable.

So Far So Good

Posted by: Ryan Hager | Sep 8, 2017

I just opened a high yield savings account about a month ago in order to save without touching it. This is because I'm undisciplined in saving with my current credit union as I can easily transfer between savings and checking. I read reviews and this was rated highly with a high APY return.

Overall, I'm currently happy with my decision to start using this external savings account.

I wouldn't say the sign up process was easy or smooth compared to lots of other things I've signed up for, but it wasn't difficult either. I was able to get my account number/information needed for registering an account online by calling the next day after my application was approved. Later I called after playing around with my online account and saw that I needed to sign the signature card manually instead of electronically, so I printed, signed, and mailed.
About a week and half later, the info I wanted right away ended up coming in the mail. So patience is needed I guess.

Customer service was okay. They weren't welcoming or anything like that, but did answer the questions I had.

Transfers between my external credit union was supposed to be set up to come from my checking but is coming from my personal savings instead. That could have been my mistake and I'm not even worried about it right now.
Transfers are taking around 3 days to be completed, which is below average in my experience. Again, not the biggest deal for me right now but I do hope this improves.

Do not confused their banking with their various credit cards services. I am not sure I'll ever use their credit cards due to the million complaints about their customer service or very inflexible policies that are not people or consumer oriented. I just wanted to be clear that my positive review is based on their savings account only.

Terrible Service

Posted by: jot | Sep 6, 2017

Amazon was using Synchrony Bank for their credit card and switched cards to a different card with Synchrony Bank. Sadly Synchrony and Amazon didn't change the card on my Amazon Account I am guessing because I never got a bill from the new card. I receive all bills via email. Transunion that I had a late payment (and it was a whopping $747 plus the above charges. I was able to get the 2 charges removed. I immediately paid the bill online. I finally called a supervisor because I couldn't believe that I had my credit score dive over 60 points. It's still good but not excellent like it had been. She is going to notify the creidit union that it was not my error. I never got an email telling me that I owed the money. I don't know if Amazon or Synchrony Bank when the cards were changed to a different number didn't update user information sounds like that's what happened. I closed the card. Thankfully Amazon also uses Chase Bank and I get outstanding service from that Bank. Now if I could convince Talbots, Warehouse Discount and Chevron to change banks that would ner great.

Good Bank For Those That Want An Online Savings Account

I was shopping for an online savings account to place about 6 months' worth of savings for an emergency. I looked about and saw several online banks providing savings account services with decent-to-good interest rates. Synchrony Bank was one of those online banks. At first, they weren't my first choice; Goldman Sachs Bank was my top pick. But I found opening an account with Goldman Sachs to be difficult. They could not positively confirm my identity at all, despite the fact that I gave them my social security number, tax filings, and a photocopy of my drive's license. I soon gave up around they asked for a third round of identity confirming documentation. I tried Synchrony Bank as my second choice, and the experience I had with them are night and day different compared to Goldman Sachs Bank. I was quickly confirmed and my savings account was opened within a day. When I could not register an account to manage my new savings account, customer service was quick to remedy the issue. I have had a great experience with Synchrony Ban so far. I highly recommend them to those who want a no frills savings account with a competitive interest rate.

Very pleased with Synchrony Bank

I wanted to earn some interest on a small sum of money I inherited. I also wanted to be able to manage the money myself and avoid the hassles of dealing with pushy bank staff. I took a chance on Synchrony Bank and it has really paid off. I now have an IRA and a high yield savings account with them. The interest rate on my savings account is significantly higher than anything offered by my bricks and mortar bank. The account minimum is also very fair and I was able to start saving with a small sum of money which is great as it supports those of us trying to get (back) on our feet financially. The website and app are very user friendly. I have never experienced tech issues or any mistakes in my balances. I can access it 24/7 from all my devices and it has helped me to get really involved with my finances. I have rarely had to contact customer service but when I have I received help immediately, I wasn't transferred from department to department like most financial institutions. One person, one quick solution. Overall a really great experience and I am really impressed with online banking and can't see myself going back now.

Best Switch I've Ever Made

I decided to open a High Yield Savings Account with Synchrony after looking at other online banks and finding that this one had no minimum deposit, no fees, and a APY. I have been a customer now for a little over a year and I have made 116% more than I ever did with my personal bank's savings account. Making deposits from my checking account is easy and if the deposit is initiated during a weekday, the transaction goes through very quickly. The main account I created was joint and it was extremely easy to set up. Then I was able to open a second, individual account for a beneficiary AND I can access them both with the same log in information. The BEST part is the account started out with a 1.05% APY when I opened it and in the past month that number has increased to 1.20%.

Great interest on a savings account

I have been a customer of Synchrony Bank for approximately 2 years now. It was really easy to get an account started and my ATM card arrived pretty quickly. I like that Synchrony offers a higher interest rate than many other banks, both online banks and traditional banks. There are a lot of perks available, depending on how much you have saved with them. All accounts enjoy no monthly fees, some ATM fee refunds, and free ID theft resolution. Accounts with high balances get their own dedicated customer service phone number. I've never had a problem with my account, so I've never had to call. I would recommend Synchrony Bank to anyone who wants to start saving their money in a separate account, such as saving for an emergency fund.


Posted by: AlexsPop | Jul 6, 2017

We were a high yield savings customer for many years and as long as the money goes into savings there is no problem. Great interest rate...no question.
Once you use their credit card, or use their other products that's when the magic happens...VERY RUDE & UNPROFESSIONAL managers & supervisors!!!!
Front line reps are very polite and professional BUT once you have an issue and a manager/supervisor is involved you would think the politeness and professionalism would continue. WELL IT DOESN'T!!!!
On the phone for 2.5 hours being placed on hold then transferred again...only to be, you guessed it...on hold again and again. Their famous words: I'm going to put you on a brief 3 to 4 minute hold, is that OK? Well it's never 3-4 minutes!!!
So GOOD-LUCK to you if you don't 'heed the advice' of the MANY who have represented their experiences and reviews as a 1 star. READ REVIEWS BEFORE LOCKING IN WITH THEIR CREDIT CARD.
I've recently read many different 'review sites' on Synchrony Bank & Credit Card which I should have done BEFORE I got involved. BIG MISTAKE for not learning before hand that reviews are VERY helpful!!! Don't let the high interest rate fool you. Look around as there are other online banks that comparable rates. No bank will have excellent reviews but I'd take my chances because they HAVE to be better that Synchrony!!!!!

Verify Identity

Posted by: annacap8 | Jul 5, 2017

My 19 year old daughter, who is in college, tried to open a savings account and was denied because they couldn't authenticate her identity! She has a checking account, a CD at another online bank (Ally), she also submitted her driver's license, and social security numbers in the application. All of this and she can't open an account to put money into!!! She wasn't asking for a loan. I've been a customer with Synchrony for over three years and until today have never had an issue, yet they took non of that into consideration. The service representative and her supervisor as well were very condescending and continued to repeat the same verbiage over and over instead of trying to rectify the situation. I hung up very dissatisfied. I then called Ally and they were more than willing to help figure out how to make it work! Needless to say I will be moving all of my investments. The rates might not be as high but in the long run customer service always wins.

Synchrony Bank IRA CD and CD accounts

I've been with Synchrony Bank for about three years. They are huge, and have been around a while, have competitive rates overall, and have, overall, a good reputation, which is why I chose to go with them over other online banks. I like that they answer the phone and that the customer does not have to wait to speak to a rep. However, the different reps have given me wrong information, which has caused me aggravation in trying to set up an account or retrieve money. So, sometimes, I wind up having to call back and call back and call back to verify, to untangle, what is going on. In the end, it has always worked out and the reps seem to genuinely want to help, but it is NOT helpful if it wastes someone's time calling back to say such and such did not arrive, did not happen, etc. Sometimes, I've had to call three and four times to get all the paperwork out to me, and it doesn't arrive, so it's a delay of over a month. Also, their rates are NOT always competitive. Most of the time they are, but one always needs to check. But, they are consistently among the top online banks as far as rates go. Again, my money has been transferred to my brick and mortar credit union, and not lightning fast, but not that slowly either. So, my overall recommendation is to use them. I have IRA CDs there right now, and they do send statements that are professional and easy to read, like clockwork, which is more than I can say for other online banks. They have a 2K minimum deposit for CDs, which is not unreasonable. On a 5 year CD, which is what I have, the early withdrawal is a year's interest, which isn't great, but I don't plan on withdrawing my IRA CDs. Some places only charge 6 months interest penalty, so best to check, according to what is important to you. I've also never had any surprise fees, as with other banks. They are very fee free, in my opinion. Very reasonable.

Have Not Had Any Problems.

Posted by: NCSV123 | Jul 2, 2017

I have a savings and CD with Synchrony. I have been with them for several years and have not had any issues. But I do just use them for savings and cd's and do not transfer money often or use debit card. Website works good and does all I need it to. I will stay with them.

Love The Interest Rates

i live in nj and ONLY go to their brick and mortar location in bridgewater-----never a problem

Synchrony Bank is great!

I've only been a member of Synchrony Bank for a few months now, but so far I have no complaints! This is the first strictly online banking institution that I have signed up for and the process was so simple. I had no problems creating my savings account and transferring money. My favorite part of Synchrony is the high interest rate. It's by far the highest rate I've personally seen for a savings account. I'm assuming customer service is good, but I haven't had to contact them at any point since I haven't had any issues. The fact that there aren't fees for withdrawing money is a plus as well. Overall, I definitely recommend Synchrony to anyone looking for a high interest savings account!

User Friendly Bank

Posted by: suehancock | Jun 8, 2017

I have a few different accounts with this bank and have found them very easy and fair to deal with. I have never had to deal with high fees or rude customer service. Their customer service is very good and their staff go out of their way to help you out or answer any questions you may have--even if you think they are stupid or irrelevant. Their website is very user friendly and one of the easiest navigate that I've ever found. All of your account information is pretty straight forward and easy to find. I love this bank and would recommend anyone looking for a new bank or out there just looking at their options to explore this bank in particular. Synchrony Bank is top notch!

Great Bank!

I have had my Synchrony savings account for over a year now and I am proud to be their customer. I originally came from Chase bank. I had problems with them that made me their long time customer leave to another bank. My friend recommended Synchrony bank and the ease of using it. I did some research, read reviews and compared to a couple of other banks before making my final decision. I am glad that I made the decision to have them as my bank. It is so easy for me to deposit, transfer and bill pay with them. I love getting text alerts every time I have a withdrawal, payment or deposit so I can track everything. It also doubles as a security feature since I can see what charges happen and know if it is fraudulent right away instead of it being overlooked on my statement. I also enjoy that they do not place a hold on checks that I deposit. My mind is at ease knowing there isn't any mishaps and my money will be there in the exact time frame expected. I would and I have recommended this bank to my friends and family. I am sure you will be quite satisfied as I.

Friendly Bank

I have banked with this online bank for a number of years now. I have a few accounts here and have to say I have been pleasantly surprised. I wasn't sure how I would feel about dealing with an online-only bank, but I'm glad that I gave it a shot. I bank with Synchrony Bank and have had nothing but positive experiences. Their staff is knowledgeable and friendly and any time I've called with a question, they are always more than happy to help me out. I also have to say their rates are very competitive and they don't charge crazy fees like some banks. Their website is very user friendly. Anyone could easily navigate around their webpage and get to the information they need. I have found that everything on their site is pretty straight forward. I don't mind using their site at all.

A solid bank with great CDs

I initially wanted to start investing my money and I decided to look into opening a CD with this bank. I shopped around for a while and this bank had the best rates. Synchrony would be my best bet and it is, even though the customer service could be better. Even though the customer service was my only negative experience I can't help but focus on it considering it wont be the last time I will need some help and guidance from the company.

The only website is much easier to deal with as the online customer service is completely different from the phone operators so I was able to find some satisfaction there. All in all I give this bank a solid 4 for what it has provided me.

Declined Application

Posted by: Nolan | May 20, 2017

Wanted to send a check over wiring the money for a CD. Was told to wait because they would have to verify my information. Got a letter a week later saying the account was denied because they were unable to verify my identity. Interesting. Never have run into this before in forty years of having Certified Deposits.

East to deal with

I have been dealing with Synchrony Bank for about two years now. I have an online savings account with them. For the time I've been with them, I have had no problems at all. Everything has been easy and whenever I had questions, I got quick answers. They are good with email response and don't have long wait times on the phone which is nice. They have low fees and the interest is good when comparing to what I can get from others. They have some other things I may be interested in and I will look into those, for sure. Other reviews I've read of them are good also. Hoping to stay with them for a while, as everything I need has been taken care of so far.

Mobile Deposit Non Existent

Posted by: CNS096 | May 4, 2017

I had enjoyed Synchrony, despite the lack of customer service until their mobile deposit became a complete failure. It will not accept checks and constantly tells you the image is unclear. You can rewrite the check, try a different device, etc., but good luck getting your deposit made. Without physical locations, this takes away the point of online banking. I'm not mailing a check every time I need to move money into my accounts.

Synchrony Bank Savings

Synchrony Bank is an online-only bank that offers a range of account options. If you're not familiar with Synchrony Bank, they're probably best known for being the bank behind a lot of store-specific credit cards. I first became familiar with Synchrony Bank as my Amazon Prime card is issued by them. Now, I have a savings account with Synchrony Bank that earns one of the highest interest rates that I could find. I get 1.05% interest on my savings account. It doesn't really seem like much but it's a higher rate than you can get from most banks and definitely higher than traditional brick and mortar banks. I like to invest most of my money but for short term money that you may need, putting it in a savings account that earns interest is better than nothing.

Failure To Process IRA Transfer Requests

Posted by: Mikecouvy | Apr 27, 2017

I opened an IRA money market account to consolidate my IRA funds. Synchony did not send the transfer requests to the financial institutions. At first I thought it was a mail issue, but after having the multiple financial institutions inform me that they had not received the transfer requests form Synchrony, it became obvious to me that Synchrony did not send out the requests. I am closing my account with Synchrony.

Bad Experience

Posted by: whynott77 | Apr 21, 2017

I've tried repeatedly to post a poor review but have not been successful. I guess that's not permitted.

Love it!

After doing some research for online banks, I recently signed up online for a saving account with Synchrony Bank. I was asked about 10 questions, just the basic name and address and identification information. I was able to choose the method of my initial deposit. I chose to do a bank transfer, but you could mail the deposit in also. It was extremely easy. I was also surprised how fast it all went, it took about 15 minutes. I expected a far more time consuming and more complicated process than it really was. So far I have not had any problems.

Synchrony is awesome!

I opened a Synchrony savings account a little over three months ago and have been very pleased so far! There are a few things I really like about Synchrony...The first is the interest rate, which is currently at 1.04% for me. It's much higher than banks that aren't strictly online. Synchrony pays me the same amount of interest in one month that the savings account I've had since I was a child pays me in a whole year! I also have significantly more money in my old savings account. Another thing I really like about Synchrony is the option to withdrawal money without any penalty. Definitely a keeper for my banking needs.

Very helpful...

After using many different online banks, and having the service and products be sub par, I was surprised by the ease of use and helpfulness of Synchrony Bank. Any time I have an issue, I am able to speak with a person that will help me resolve it within minutes. I have never talked to someone who had no idea what they were doing. Another positive, is the 1.25 APY on CDs over 2000 dollars. I have several through the bank, and from my research, they offer a very competitive rates. Another positive about this bank is the ease of use when it comes to using the mobile version of the bank. I really enjoy the simplicity, and have never had an issue or had a problem locating what I wanted to find on the site.


Synchrony Bank savings is one of the best in the market if you are truly looking to save and get the best rate. Synchrony Bank offers online banking with the option of a card to use for withdrawals. If you are looking for a bank that is at you fingertips and best for your wallet, this is it. Simply set up a direct deposit between your regular checking to their online savings and watch your balance thrive. Their site is extremely user friendly and easy to maneuver around. The rates are some of the best on the savings market. With not having to have a minimum balance requirement like other banks, this is the BEST out there for anyone looking to accrue savings quickly. Synchrony Bank Savings comes highly recommended. Current Interest Rate on their High Yield Savings is 1.04% and their current APY is 1.05%. You won't want to miss this.

Why to go with Synchrony for retirement IRA savings

I like Synchrony bank because their customer service is out of this world. Being self employed can sometimes make things very complicated when setting up retirement funds. The representatives at Synchrony bank are so helpful. When I called to set up an account I was presented with a personal banker who helped me set up the right plan to maintain my business tax plans. I didn't feel taken advantage of, or like he was trying to push risk on me to make money. I'm not always able to contribute steadily because as a self employed individual sometimes my finances are up and down. Whenever I do contribute I always call Synchrony bank to see how contributions will affect my future earnings and they are always very helpful. They are also extremely helpful with tax questions and requests for necessary documents. I have no complaints really.

No Major Complaints Here

Even since Synchrony switched over their website to the new layout and design the experience has been fantastic. I had a different bank in the past that never updated their software or made an effort to keep up with technology trends and it made me wonder if they care. With Synchrony Bank not only can I keep track of all my banking transactions within seconds but I also have the ability to check my credit card transactions and get up to date credit scores each month and they will contact me about any suspicious activity on my accounts too. I'm currently in the market for an HYS, CD or IRA and I'm looking forward to chatting with a representative to see what Synchrony has to offer here. Keep up the good work Synchrony!

Decent Online Bank

I recently moved my online bank account from Ally to Synchrony Bank. Ally currently offers just 1.00% while Synchrony offers a bit more at 1.05%. While that is a small difference - everything helps in this economy especially for risk adverse person like myself. They also have the highest 12 MONTH CD at 1.25% -- no other bank comes close to this. So it is really easy to setup a CD ladder and gain a few bucks while not locking in all your money. One thing that Synchrony doesn't have that Ally has was the great customer service. If you have a problem with Ally you can talk to a real person really quick. However with Synchrony, I feel their customer service department is lacking.

If you want great rates on your saving and the best rate for a 12 MONTH CD -- I would go with Synchrony any day of the week. Remember that it is an online saving account and online bank so there are limitation. If these limitations are okay with you it definitely beats getting 0% at your local Chase bank.

Highest Yield Savings

We use Synchrony Bank for our savings account. Synchrony has one of the highest, if not the highest, interest rates in the country at a little over one percent. The account was easy to set up and manage online, and has simple tabs and drop down menus to use whatever features the account holder needs to use. The only con I see is that there are two Synchrony savings websites. The other website is called My Optimizer Plus and is not the same as the Synchrony savings website. Not knowing of the disparity, I had difficulty logging in to the other website. I know for next time, but can see the confusion it may cause to someone. Transfer usually take a few days to go into your other primary bank account, so if you don't always need savings right away, you should be fine.

Good online Savings Account

They provide the best interest rate available for online savings accounts. It is currently around 1.06%. In today's economy that is a high rate, believe it or not. There are no fees to open a savings account. It is very easy to transfer money into and out of the account. It does take 3 days or so for transfers to complete. It would be nice if they could speed up that process, but it is not bad as is. It is a very easy experience to open an account with the bank. I was approved in under 5 minutes. I have had an account with them for 5 years and have never had an issue.

Lovely Site, Worrisome Fees

Haven't really necessarily done too much banking with them but I've had an account and I'm beginning to love it. I wanted to start using an online bank where I earn more interest since I'm coming from a background where the only other financial institution I've used has been a credit union. It's surprising how much better the website is compared with the other website I use. That said, I've been reading up on the fees and their applications, and I feel worried. I don't know how it compares with a non-bank, but I know fees (e.g., I know minimum payments on past credit are at least $27 under my contract) are higher than those on my credit union.

That being said, even though it scares me, it's not a bad bank by any means. Trawling information was a little difficult, even logged in, and finding the details of my contract was a little difficult. Still, it's a stylish looking website and it just feels safe and useful, even though I probably ought to be afraid of it.

Great Customer Service

I opened a checking account with Synchrony Bank due to an employer 5 years ago and I wasn't particularly excited about it initially. One of the first things I noticed was that their cellphone app was quite outdated and not very user friendly, which I really disliked because I like to check my balance and other information online very often, since it's easier. Another aspect I disliked was their overdraft fee which seemed a little bit too high compared with other banks I had experience with. But now to the part that really made me like this bank: the customer support. I had my wallet stolen along with my credit card and was very worried about losing the amount I had in my checking account, but the Synchrony Bank's customer support was exceptionally fast and understand, they froze everything and sent me a new card immediately, which I received in a few days. I had friends tell me they had never seen a faster and more effective customer support in such a situation, so I believe their outdated phone app and fees aren't that big of a deal when you have the security of knowing that they will fully support and help you in unexpected situations like the one I went through.

Great Bank

Love the high yield savings account. Highest rates in the nation, but what I particularly love is the identity theft protection that comes with the optimizer account. This service was super helpful when someone got a hold of my social and tried to get a tax refund under my name!

401K Rollover Too Difficult

I was going to roll over my 401k from capital one, but it was so complicated, 7 pages of forms, that I just gave up and went to my local credit union. The forms are unclear and redundant.

Good Experience

I applied online to open an account with the bank as a new customer. The questions asked were minimal. Soon after I received a call from a rep to guide me through the rest of the account creation process. The rep was mostly nice. I have little tech knowledge but he guided me through the process. It was a simple process and the rep was helpful. They even ran me through some of the perks and benefits for having an account. Depending on how much money you have in your account, you get different perks. Tha'ts pretty awesome. I would definitely trust and recommend Synchrony Bank to my family and friends. I also ended up opening an IRA and a CD account with them. One of the better banks I have worked with and I have worked with over 13 different banks.

Its okay but could be better!

I use this bank for some of my financial needs, Its a good bank to use but my main issue is with their customer service. I had set my account up a long time ago about 2 years. I set up online banking and bill pay for my deposits for my checking account to pay my bills. Every month when I go to log in it never recognizes my log in information. I call customer service every month and they always verify my log in and it always correct. They make me go through the whole process of changing my password. Then the next month it happens all over again, so I call. The last time I called the lady proceeded to tell me just to mail in my deposits verses getting the issue fixed. I was highly upset and told her that they really need to correct the issue because I only use online checking and bill pay. She stated she didn't know what to tell me. I asked for a manager and she hung up on me. The bank itself is good but the customer service is horrible. So unless you use the mail for deposits every month don't bother signing up for the online checking and bill payment system because you cant get in and they will not help you.

Great for online

A bank is a bank is a bank... That may be true in the general sense of the word, but Synchrony is special as an online banking institution. Their web/mobile service is excellent. I had a concern about my account balance, went online and signed in, and the concern was satisfied almost immediately. Their online account management is simple, clear and gives all the information needed when you sign in. An excellent experience. Customer service is friendly and helpful, which is important when banking. I had to call in a couple of weeks ago over an issue. The issue was handled easily by a friendly, courteous woman who treated me well.

Synchrony Does Savings Right

I haven't been using Synchrony Bank for very long but I can already tell that I'm going to love them! When I was searching around for competitive rates I was shocked when I saw what they were offering. The initial deposit to get the posted rate was a little high, but it was worth it in the end for the high interest. Before this, I had a savings account with Discover with lower interest, however when I saw the higher interest at Synchrony I quickly moved what I could over. They made opening an account easy and I was done opening my new savings in probably ten minutes or so. On top of that, their customer service has been great and they're usually fairly quick to respond with emails. I don't think I've had to wait any longer than a day to get an answer for my question. I also greatly appreciate their nerdy side with their partnering with Marvel for some exclusive content. As a nerd myself (not to mention someone who likes to save money) I couldn't be any happier and plan to open another account with them soon.

Easy to use, best rates around.

I have had an online savings account with Synchrony Bank for about a year. It is normally at the top of the list for savings accounts as it has the best rates and charges no fees. The interest rate is well above what other banks offer. The website is user friendly and when I've had to call customer service they have been helpful. When I had a problem, they quickly solved it and were very friendly and respectful.
As it is a savings account, I don't normally need to withdraw money, but on the occasions that I have the fees have been refunded - they refund up to $5 per month. I normally make direct online transfers and try not to withdraw. It is easy to log in and see my progress in savings.

New account with Synchrony

I recently opened a savings account with Synchrony Bank. I choose Synchrony because of their ease of setup online. Also, Synchrony offers great interest rates and terms for ATM use. I had some issues activating our debit cards (which were a huge plus in my opinion) and customer service was great and helped me with a short wait time. Synchrony also followed up with snail mail needing signature cards, etc. All postage was paid and was easy to understand. I don't think their website is that efficient. When I tried to set up my account the mobile check image was not accepted. I continue to have a difficult time logging in through their website. But overall I really enjoy Synchrony and look forward to using them for other products.

Good but needs more work.

I saw an ad online about Synchrony Bank offering high yielding savings and no annual cost/fees. Since my old bank had 0% interest i decided to open an account. I put in $5,000 into the high yielding bank account. It as easy to set up and easy to use. I could pay my bills and i liked getting monthly interest payments. However, it seemed like the website was new or something. There are times when I couldn't log into the system because the website was down. this is really annoying since I needed to check if I still have money or enough to pay my bills. Also the mobile app is ok but when it lags.Like when you type in a 5 you have to wait a second and then click the next number. that's just annoying. I removed the app and do all my banking online. I later opened up a money market because I got a special offer for putting 10k into a money market and I got $100 dollars. I have never spoken anyone with SB which is great since I hate talking to people. All the information is online and the FAQS are very useful.

Pleasantly Surprised

I had heard from friends about online banks, but was wary of them. One day I just decided to take the risk with a small amount of money. There were so many out there I didn't know where to start but Synchrony kept coming up with favorable feedback so I thought I would give it a shot. As I looked at it more and more, I was thrilled about the interest rate on savings account, that it reimbursed (to a certain amount) for out of network ATM transactions. I opened an account within a few minutes and never looked back. I have since (its been two years) moved my entire savings account balance over to this bank and am loving the interest income. In truth, I am actually saving more than ever simply because the money is in a different account/institution so i sort of forget about it. Who knew this was my solution to needing to save? I have not had an opportunity to need to call customer service yet, but if its as easy as the rest of my experience has been, I think it will be a breeze.

very satisfied customer

My bank is Synchrony Bank. I have been using this bank for my savings account for the past year. The online banking is very easy and understandable. I had decided that the best thing i could do was to put my money in the high yield savings account they were offering at the time. I know that I can sit back and watch my money grow. The customer service is great as well. I had many questions in the beginning when I opened my account and the people I talked to were very helpful. I love this bank and I would recommend this bank to anyone especially, if you want to open a good high yield savings account.

I Highly Recommend Synchrony Bank

I have been a customer of Synchrony Bank for the last three years. I first heard about them when searching for a good savings account. So, I decided to see what they offered as far as savings options. I currently have several CD's at Synchrony. This rate is very competitive and I feel good knowing my money is in their hands. Since all their CD's from 6 months to 48 months are the same rate, I purchase 6 month CD's so I can take advantage of higher rates as they become available. With the market's steady improvement, I have found higher rates to be the case in a slow but steady manner. I have called customer service with questions, and I always receive prompt and courteous responses. If anyone asks me about online banking, I recommend Synchrony Bank because their service, in my opinion, is unmatched.

Great Online Software

I have a savings account with them that I've had for a few months. Support has been excellent so far, they always refer me to American customer support that knows what it's doing. The only problems so far have been low interest rate on their savings accounts. I have found that there interactive website to be easy useful and not overly complicated to use. The mobile app is so simple to use my kids don't have to help me find things on it. I love the convenience of adding money to this account. Mobile banking has become a pleasure with Synchrony Bank.

Average experience for banking

Posted by: tedochoa | Jan 18, 2017

We had a savings account with this bank and never had any issues. We usually bank locally, but friends recommended doing some checking around for online banks a while back because interest rates were better. We found that to be true and were pleased with this bank's rates. I wasn't too impressed with the online transfer capabilities, though. I found it a little more tedious to transfer money. I think they could make that aspect a little more user-friendly.

Synchrony Bank Rocks!

Synchrony Bank is a wonderful savings bank. Synchrony Bank offers probably the best CD rates out there. You are required to open the CD with higher amounts than other banks but at the rates they give it is worth it. I have never had a problem with customer service. They answer quickly and are very efficient in addition to being very friendly. I have an ATM card with them as well. Synchrony has very low fees. If you want and like a savings bank, you should visit their very user friendly website. There you will find all of their products. They have great rates on money market accounts as well as High Yield accounts and IRA's. I truly feel this is a trustworthy bank and they have earned my business by their quality services.

Synchrony is fantastic

Posted by: Tyme | Jan 12, 2017

I have a savings account through Synchrony. They have competitive rates and great service. I use their auto-deduction from their savings account to pay certain bills so there are no surprises or gimmicks. Their website doesn't feel cheap like some other internet bank sites. I have direct deposit with them; there were a few forms to fill out but it didn't take long at all for it to process and come through. I'm considering opening a CD with them as well.

The only bank I will ever need/use!

I have been banking at Synchrony Bank for the past few years. It was really easy to open a savings account on their website. I want to give a shout out to their customer service division as well. Anytime I call them, they have answers right at their finger tips and seem to fix or address any issues or problems I face. Their website is easy to navigate and really friendly. I love their online banking section on their website as well. You can search through any transactions you want to go through and I love their budgeting tools that they provide! Fortunately, I haven't been charged a fee since I have been there. However, looking through their fees list, their fees are considerably lower than much other banks!

Excellent Customer Service

Posted by: penguin23 | Jan 8, 2017

Synchony's customer service is excellent. About a month ago I had a problem with my account and I thought it was related to me recently moving. They quickly solved the problem and changed the address on my account. The wait time on the phone wasn't long either which is awesome because I hate long wait time.

The Best Way to Safely Beat Inflation

Posted by: GeraldW | Jan 6, 2017

Synchrony Bank is a purely online banking service that offers high interest savings account for individuals who are looking for safe ways to beat inflation. Synchrony was especially favorable to me because I was looking to exit my big bank and head into something a little less cluttered. I was returning virtually zero from my bank, and I was sick of getting hit with 3% inflation every year. With Sychrony's rates, I can almost cut the effect of inflation by 50%, which makes quite a large impact when we are talking about 6-figures worth of funds. The only hurdle that I needed to get over was psychological - it's an online bank. Once I realized that banking with Synchrony was essentially the same as the way I was previously banking with my big bank (all online, all mobile), it was easier to get over the fact that there are no physical branches! Trust me, and just try Synchrony.

Very Positive Experience as a Synchrony Customer!

Posted by: DanTheMan2 | Jan 3, 2017

I opened a checking account with Synchrony Bank in December of 2014 after repeated problems with my old local bank. The difference between Synchrony and my prior bank were apparent right away. The representative talked me through the various savings programs and helped me see how I could grow my money with a strong APY, which was very important to me as someone just starting a career. Synchrony's online interface also has the feel of a major bank and not a local bank. Synchrony allowed me to automate almost all of my monthly transactions, which has saved me a lot of time. It also allowed me to consolidate all of my savings and wealth growth options. I would recommend Synchrony to anyone who values speed and simplicity when conducting online banking business.

Synchronybank Review

Posted by: PJTL | Dec 27, 2016

I've been wanting to open a savings account for a while now. I finally made the decision in April to open a Synchrony Bank account. I signed up for the High Yield savings account. They currently have one of the highest APYs I found. One of the things I love about this bank is that there is no fee to sign up and there is no minimum balance requirement. You can deposit as little or as much as you like. Their online account and mobile app are both extremely easy to sign up to use and navigate and all the necessary information you need is posted in your account. My customer service experience so far has been wonderful. I had a lot of questions about how a savings account works and if i'm able to access my funds if needed and they were very helpful answering all my questions before signing up. If you're looking for a savings account with great rates, there is no better choice.

One of the better banks for savings accounts.

Posted by: ChrisPP | Dec 15, 2016

I decided to go with Synchrony Bank for a savings account because it has one of the highest interest rates out there at the moment. So far I am not disappointed with the bank. It was easy enough to deposit the money online and start earning interest. They have a useful mobile app which lets checking your account and making transactions simple from your smartphone. Customer service was very helpful and easy to contact the one time I've needed them. The only part that I think other banks do better is having more resources online such as budget assistance and planning. They do have several other products which I plan to checkout like CD's and IRA's. Overall its been a good experience so far.

The Best Online Bank

Posted by: DavidGH | Dec 14, 2016

The fact of the matter is that you're wasting your money at "big banks." It's easy to tell yourself that you like the convenience, but when it comes to protecting your money from inflation, it's the percentage points that matter the most. I opened a savings account with Synchrony Bank with a great APY. Their interest rate is way above your average bank. How are you supposed to save your emergency fund, when you're losing it to inflation? It's impossible. I absolutely love Synchrony because of their rates, ease of withdrawal, and customer service. Whenever I have a question, I can get an answer within 10 minutes. The operators are always nice and they take your questions seriously.

Synchrony Hits The Mark

Posted by: WillFoster | Dec 7, 2016

I have had a savings account with Synchrony for almost 3 years now. I was told about them from a relative. I decided to give them a try after taking a look at their website. They have a high yield savings account, which means the interest rate that they currently give me is very competitive and very much one of the main reasons that I decided to go with them. I've never run into any problems at all. Customer service, if you ever need it (which I doubt), is on point ! Fees are nearly non-existent. They don't have any physical branches, therefore, they have hardly any of the overhead that the main banks do so they are able to have a very competitive products with super competitive rates. I can see myself sticking with Synchrony for many many years to come !

Synchrony Bank's savings rates are phenomenal in this current market

Posted by: nina92 | Dec 5, 2016

I have shopped around for a great interest rate for a savings account and could not find anything worthwhile. Most of the rates were extremely low and the reviews for the bank's customer service and fees scared me away. One bank that stood out was Synchrony Bank. I didn't know much about them and didn't want to make a mistake so I took a while before I made the decision to open a savings account with them. I regret waiting so long; although the rate isn't super great, it is MUCH better than other banks out there. I love the mobile banking features and how easy it is to get in contact with a live person for assistance and guidance when needed. I definitely recommend Synchrony Bank.

Banking Made Easy.

Posted by: Gloden | Dec 5, 2016

Synchrony Bank is one of the best banks I've ever dealt with personally. Very secure and safe and I've never experienced any issues with them in terms of errors or bank issues. Their fees are very reasonable and the web and mobile experience is pretty good as well. I really have no complaints at all and their customer service rivals with some of the best. They have a lot of good things about them that set them apart from a other banks and it's a no brainer in terms of who you should bank with. Synchrony Bank is the choice and way to go if you ask me. I've been dealing with them for a year now and I've had no complaints whatsoever about them. I would recommend them to anyone I know.

satisfied customer

Posted by: Franklin23 | Dec 3, 2016

I have been a Synchrony Bank customer for almost a year and a half now. I switched over from a regional bank that I had been using for nearly ten years. A friend told me they really liked Synchrony, but I was still skeptical. My initial concern was about depositing checks. My place of employment does not offer direct deposit, so I have to go to the bank every payday to deposit my checks so that I can have the money in my account as soon as possible. Because Synchrony is online, I was worried about a lag time between when I deposited the check and when it showed up in my account. After my first deposit, I was sold. The funds showed up in my account just as fast as they did with my traditional bank.

Synchrony is great

Posted by: hammer8807 | Dec 3, 2016

Having two accounts through Synchrony bank is both convenient and easy. I am able to pay my bills, make transactions, and find different products that interest me. Being on only social security, I am able to use their services for my convenience and schedule. Any fees they have are very reasonable. If I want, I can buy a product from any online store and just put in my account information and it goes right through. If I need money for something or in an emergency the funds are put into my local bank within 2 days, which in my opinion is pretty fast. I must say I am very satisfied with their services and advice. I have never had a problem with them or any of their services. Their service people are always polite and answer with consideration for my age. I would recommend them to anyone.

Great Bank

Posted by: Felix05 | Nov 30, 2016

I started banking with Synchrony Bank about a year and a half ago. I was ready to drop my old bank because of their fees. I have been nothing but pleased since switching to Synchrony. It has made banking a lot easier. I do not have to go into a branch if I need something anymore. I can talk to someone on line and dll of my banking from the comfort of my home. I am able to check my balance, pay bills and do everything I could do with a physical bank; I just do not have to actually go to the bank. No more rushing to make sure I get there before they close; no more wasting my precious time waiting in line at a bank. It may seem like a small difference, but Synchrony Bank has made my life easier. I would suggest Synchrony Bank to everyone.

Tried it and really liked this bank

Posted by: Naffi | Nov 29, 2016

I have banked with Synchrony bank for over a year now. The concept of an online bank with no regular branches and no real people to deal with made me a little worried. Now that I have banked with them, I can say with confidence that this is a great bank to work with. I like the convenience of doing business with them. Once, we had a concern about a banking experience with them, but the customer service was really good. They took care of it in a timely manner and resolved the issue. That made us more welcoming of this concept. We are looking to add more funds and types of accounts we have with this bank. If you are considering an online bank, I believe you will have a good experience like we did with Synchrony Bank.

Great bank

Posted by: TaxMan | Nov 22, 2016

I work in the tax field and am always looking for better savings accounts. I came across Synchrony while searching for high yield accounts and immediately joined up. I have been happy with their rates as well as customer service. I had an issue with my computer but needed my 1099-int and the customer service representative was very helpful. We were able to get the information with relative ease. I recommend the bank to many of my clients who are looking for the same kind of services.

Good bank to be with

Posted by: Farrow32 | Nov 17, 2016

We moved over to Synchrony bank when our previous bank GE financial was closed. GE suggested this bank. Initially we were not sure due to the size of funds we were moving and looked at other options but decided to give this bank a try. We have been very satisfied with the experience we have had so far. Any problems have been resolved timely and the customer service has been really good. Of course being an online bank, their site is easy to navigate and get things done quickly. We have since moved more of our funds and looked into more kids of investment options we may explore with this bank. Over all a happy customer and would really recommend this bank to anyone looking to explore online banking.


I opened a CD 24 months back with Synchrony Bank. As it was getting closer to the end of date, I called to move my money to a different CD for 12 months. Instead of giving me terrible service the representative explained that I have a 21 day grace period to make any changes, which I think exceeds expectations for me. My interest rate during the 24 months was amazing and am pleased with there CDs compared to my local credit union.

Horrendous Customer Service

I have TWICE have absurd trouble getting an IRA CD transferred from Synchrony Bank to another bank. Both times they came up with flimsy excuses why a check had not been sent to the new bank. Once they said I didn't identify the account number. When I asked them to overnight the funds, they charged me $25.00. I protested and had it kicked up to a higher level - and was refunded my $25.00 when they verified I had done everything correctly. Now I have been trying to get my husband's IRA transferred at maturity -- and twice was told all paperwork was in order. Now 1-1/2 weeks later they say "well no it isn't". Do not do business with this bank.

Synchrony Bank is great

Posted by: Luis24 | Nov 7, 2016

This bank has exceptional customer service. When I contacted them about starting a savings account they were extremely helpful and genuinely interested in telling me about the benefits of choosing them as a bank. This excellent customer service is the reason I decided to open an account with them and I have no complaints about doing so since! The only reason I wouldn't give them five stars is their user interface (on mobile, especially) could use more work, but it has gotten better.

Synchrony works for me

Posted by: PattyK | Nov 3, 2016

While looking for a better place to earn some interest on my money than a traditional brick and mortar bank, I came across Synchrony Bank. I tried to apply to multiple banks, but the customer service individual at Synchrony Bank was the only one who was able to resolve my problem of having a less than ordinary address. They were able to guide me through a step-by-step process on how to set up my account, as well as provide information on the products that they offer. In addition to all this, Synchrony also offered a higher interest rate, although interest rates are at an all-time low, than its competitors. The only issue I have had with Synchrony is that they do not offer a mobile app for their bank. However, I can simply log on through the browser on my phone. They also send you an ATM card, which I have used without any problems, for free! I have yet to be charged with any surprising fees. All in all, I would recommend Synchrony Bank.

Better then Wells Fargo or BOA

Posted by: RickyJ | Oct 28, 2016

Having been screwed over and pushed around by the big names in banking for 15 years, I decided recently that I was sick of it, and it was time to switch. After a period when we were on vacation, a scammer got access to our Wells Fargo account and immediately ran up charges. Not only did it take 6 months of outright battling with Wells Fargo to fix things, we ended up having to pay nearly $4,000 so a lawyer could threaten them before they finally admitted it was their fault. Never again I said!

We moved our savings over to Synchrony, and I have been so pleased with it. Sure there are occasional issues with the software and I struggle to figure out how to do things, but customer service is pleasant and tries their best to be helpful. I don't have to worry about them completely screwing me over, and direct mobile access to everything is really nice. I keep far better track of my financial position, because it is easier to do so. Online banks and banking are no longer a new fad, and many of the companies are established and well capitalized. Additionally, not one of them has begged Wall Street for a bailout, and since neither have I, these guys are right up my alley. Forget the big banks, and give a online organization a shot. I have been so pleased with mine!

HORRIBLE Customer Service / Phone System

Posted by: Richmand | Oct 19, 2016

I like the interest rates at this bank, and have had an account with them since when they were still part of GE, but they're only OK as long as you don't need to speak to anyone or get any customer service.

They have a HORRIBLE phone system / phone tree: it will take more than 2-1/2 minutes from the time they answer until you can get to speak to anyone with option after stupid option, menu after submenu after submenu. It is absolutely ridiculous.

They have increased the security to where it is cumbersome to log on. Their website is unreliable: it keeps giving messages about experiencing technical problems. So, you can't log in, sending the text or voice verification codes needed only works some of the time - and the error message tells you to call them. Good luck with that!

You have to verify yourself to the automated system. Then you have to verify yourself (the same damn question) to the real person.
It is enough to want to stop doing business with this messed up operation!

Synchront Bank, Good Experience

I have an account with Synchrony for about 18 months. I must say the experience has been pretty good. I have a Savings and Money Market with good yield on both (1.05 and .85 percent). When it come to maintenance of the account, the web interface is easy to navigate. I have been able to deposit money into the savings with no issues. Withdrawals from the money market were easy, too Customer service can be a toss up. I have been on the receiving end of great customer service and extremely poor customer service. I have been eyeing opening a CD with them. All in all, if you are fairly independent, know how to use your computer, and have your own financial plan, it's a good bank.

Good savings rates and easy to use

Posted by: Gasmuanus | Oct 16, 2016

I chose this bank after looking at a few others. What drew me to them was their high interest rates for a savings accounts as well as the perks that come along with staying with them. The only fault I have with them is that their website feels a little clunky to use at times, but I don't really need to do much maintenance on it because I have the process automated. Customer service has been helpful when I needed to as a question. I don't think I'll see a better savings rate at another bank any time soon. I feel confident with using this bank.

Great Customer Service

Posted by: jazzy1234 | Oct 14, 2016

I have been a customer of Synchrony Bank for over a year. So far, I feel the customer service and online services have both been great..

High Savings Rate with ATM Access

Posted by: Dolphin | Oct 12, 2016

I recently signed up for a Synchrony Savings account. I did a bit of research online to see what some of the best savings accounts were. I decided to go with Synchrony, and I am very glad I did. The sign up process on the site couldn't have been any easier. What I love about this bank is that it offers one of the highest interest rates for a savings account at 1.05%. Also, there is no service fee or minimum balance. They are also the only online savings account I know of that gives you an ATM card to access your money anywhere. I can honestly say, that if you are looking to open a savings account, this is definitely one of the best banks to open one with.

Outdated In Every Way

Regularly takes 3 or more days to transfer funds from my Synchrony savings account to my Chase checking account. I submitted a transfer the evening of 10/6/16 and now it is 10/12/16 in the afternoon and still no funds have been deposited into my checking account. I have the confirmation email from Synchrony saying my request was submitted, they just haven't managed to actually do it in the past SIX DAYS! I asked why their transfers take so long, since my AMEX savings had been able to transfer funds to Chase the next business day. They said it's a security feature. -_- I just can't.

Cannot add my Synchrony savings account to my FutureAdvisor profile, because when FutureAdvisor asks me for the verification code Synchrony is supposed to text or email to me, nothing ever arrives. I've tried both methods.

Their website is ridiculous. Why does clicking the login button open a new tab? That's stupid and unnecessary. No other good banks do that. You know what they said when I asked about this? "It's a security feature." Where's a wall? I need to pound my head against it. And the site is insanely slow. I finished reading another review before my Synchrony inbox opened. And no mobile app??? Really? So lame. Please save yourself the trouble and choose one of the 1% high yield savings accounts. The .05% is not worth the trouble.

Account Opening Process

Posted by: jd123 | Oct 11, 2016

Attempting to open a CD with Synchrony was a disaster. After providing personal, confidential information, I received no communication from them, email, mail, etc. After 5 business days, i called them to inquire, and they said my account was being reviewed, and it would be an additional 7-10 days. I have never had an issue like this, and will likely never attempt to do business wit them again,

Great Customer Service

Posted by: Bonny | Oct 7, 2016

I have been a customer of Synchrony Bank for over a year. I feel the customer service is great and the online banking system is excellent.

Good experience with banking here.

Posted by: Piyu | Oct 5, 2016

We banked with GE financial for a number of years. When they announced that it would be changing to Synchrony Bank, I was apprehensive. Most of my savings were with GE and the change was not welcome by me. However, my opinions about this bank soon became very positive as they made the transition to the new brand. Specially, I feel that their customer service has improved. I feet very comfortable dealing with them, and they have been very helpful and timely in their responses. I have continued to bank with them instead of taking my funds elsewhere. I am a satisfied customer, and I would recommend them to my friends.

Safe, Seemless, Online Banking

Posted by: JoshH | Oct 4, 2016

My first concern before I opened up an account with Synchrony Bank was the fact that this bank literally only exists online. Having only banked with "big banks," I believe that my fear was warranted. I opened a savings account with a small deposit to see what it was like. My first constructive thought was that the website was great. It was extremely easy to navigate, and made me feel comfortable about what I was reading. The layout is logical. Things are listed under the headings that I expect, and the headings are just broad enough that I click/hover, just out of curiosity. I experienced no setbacks or problems while opening an account. It was very easy. A month or two later, my wife and I were interested in opening a CD for some extra funds that we were keeping for our first home. After checking out CDs at our local bank, we decided to open up a 2-year CD at Synchrony. The funds transfer was simple. I actually called ahead to make sure that I was allocating these funds correctly since it was a substantial amount of money (to us). The customer service could not have been better. To date, we currently have our growing savings account and a CD collecting a steady 1.25%. I actively add a few hundred dollars per month to my savings account and have never experienced a problem with transfers. All in all, your money is safe and the bank operates very well.

A Great Place To Save

Synchrony Bank has good products and services. I have a savings account and have not had a bad experience yet. The online banking is great, and I have never had an issue with any sort of technical or security concern.

Terrible Customer Service At Synchrony

Posted by: susanky | Sep 29, 2016

Customer service is very poor. trying to close my account at synchrony but they make it very difficult. No stars.

Computer Issues Are Scary

Posted by: sfmoored | Sep 5, 2016

Synchrony simply can't upload March 2016 statements to my account online. There are statements through February and then they start up again in Apil. When I ask about the missing March statement I'm told there was an issue, and they will never be able to upload March statements online. They say they have my March statement (I haven't seen it yet) but they can't put it online within my account. I'm waiting for the CD I have there to mature, and then I'm out of there!

Synchrony Bank

Posted by: cs9557 | Aug 29, 2016

We were banking with our local Chase Bank for several years. We had a checking and saving accounts. However, when our interest on our savings was only .30% APY, we decided we'd had enough. So we started researching and found Synchrony Bank had tons of good reviews and a decent 1.05% interest on our savings. We also liked the fact that it was so convenient to bank with them online. I think online banks are the banks of the future, and Synchrony Bank is going to be at the top of the list. The thing I like best has been their responsiveness. I had several questions about various things that I emailed to them, and I got a response back in less than 30 minutes. Now that is great online customer service!

Great For High Yield Online Savings Accounts

About a year ago I was searching for a bank which offered the best interest rate I could find on a simple savings account. Because this account was going to be strictly savings, I wanted a bank that would make it easy for me to deposit funds and have the best return I could get. Synchrony Bank was the bank that popped up from my Google searches as the best bank for a high and steady interest rate. It also had good reviews from other users. It was FDIC insured with a 1.05% APY. This was higher than any other bank I found. I opened the account and since then I have actually opened up two additional savings accounts for other family members. I am very pleased with my choice and have had no problems. I have no fees associated with my account and am constantly accessing my account online to watch my balance grow.

One of the best internet banks out there

This bank is relatively new and a recent branch off of General Electric, but don't be discouraged from putting your money here. They are fully insured by the FDIC like any other bank. What makes this bank better than traditional brick and mortar banks, and even other internet only banks, is it offers much better savings and money market rates. While it may only be 0.10 to 0.15% higher, that is still higher yield for the same safety you'd get anywhere else. And if you want CD rates, Synchrony has very competitive rates for short and intermediate term CDs. But like any bank, the long term CD rates are not as attractive, but this is not unique to Synchrony. That just seems to be the trends these days. Overall, I highly recommend this bank since it offers great rates

The Good And The Bad IRA

I've been a customer for over 2 years and have had no issues opening online savings and many cds.
The good news is the great rates. Some have complained of web issues transfer nightmares, etc. I've not experienced any so far. Transferring money to and from multiple external banks has been smooth and easy.
The bad is really bad! If you need to call for customer service, it's dreadful. They won't even be helpful when you want to transfer money to deposit at Synchrony. I've been trying to fund an IRA CD for a month, uncounted numbers of calls. They don't seem to care if I deposit money in the bank or not. Most unhelpful customer service ever! Check out the Traditional IRA transfer form. There is no room for a signature guarantee stamp, but the current custodian requires it. My bank providing the stamp says there isn't enough room. Customer service at Synchrony says, there is no form with space and you can't altered form to make space just squeeze in the stamp anywhere. My bank won't do it. Looking on bankrate for different bank for my IRA now.

High Yield on Savings

I have a high yield savings account with Synchrony Bank. I chose this bank because of the high return with minimum deposit. Currently their APY is at 1.05%. Setting up my account was quick and easy to do. After I was approved, I made my deposit and my money has been making a nice return. It is easy to transfer money to and from this account from my local bank. I like that I can put money in at Synchrony and get a great return, much higher than my local bank can offer me. If you want a place to stick your money and watch it grow hassle free, this is the bank to go with, especially if you don't have a lot of money to start out with. I haven't had any issues at all.

Completely Unacceptable

Posted by: rafo | Jul 12, 2016

I am wondering whether they are legitimate an how many customer do they actually have if they are open for business.

On the 5th attempt to open an account, the application process reached a point where the application can not be completed.

There is also no way to contact them electronically.

I am giving them 1 start because just like other websites, nobody thinks of what is being produced and this website does not accept 0 stars.

Synchrony Bank: Worth the Switch!

Posted by: JollyJune | Jul 7, 2016

I love Synchrony Bank. Their customer service is excellent, and they are always able to answer any questions that my husband or I have about our accounts. Additionally, I actually pay less than half the fees that I was paying at my other bank, and that's more money in the bank (pun intended!).

In-Sync With My Banking Needs

Posted by: ChanBanks | Jul 6, 2016

I have been using Synchrony for many years now, and I am generally pleased. Synchrony has given me a high yield saving account. I get 1.05% APY, and I never get a fee. It is easy to use the website to make transactions, check history, etc. I can easily access my savings account when I need it. Also, my saving account interest rate is high, and it is not dependent on how much money I have in my account. I opened a Money Market account for no charge, and it has worked well. I get .85% APY and am limited to 6 withdrawals. This keeps me from spending my money too much. When I need to use the money, I can easily use checks or the ATM. CD's from Synchrony are ok, but they have a fairly high minimum for the higher APY. Most of the stuff I need to do is not person-to-person, but person-to-technology, which I love. If you every have any hard questions, it is easy to call customer service. The worst part of this bank is that they have no checking account. Otherwise, I'm really enjoying this bank, and I would recommend them to anyone.

Can't Beat That Interest Rate

This is a great bank that is very easy to use. I've had my Synchrony account for two years and have had no issues. I love the high interest my savings account earns (much higher than the measly .04% my local bank was giving me). They don't have any ATMs, but I've had no issues with ATM fees being refunded. Their app isn't the best, but at least it does show my account balance as well as perform some other basic functions. I expect some things to be skimped on to get such a high interest rate.

Painful Experience Trying To Open Up An Account.

Posted by: RichF | Jun 29, 2016

After several interactions with customer service and their online system I have up trying to open an account. Just too many bugs in the system and I lost all trust in it. It's amazing how poorly the online banking systems are put together. So far, the only one I have had success with is Ally.

Synchrony's High Yield Makes Sense

We discovered Synchrony Bank's High Yield Savings about a year ago. At the time, our regular savings account from our local branch was offering less than 0.1% a year. We compared with other online savings including AMEX, and decided Synchrony had the best rate: 1.05% a year. That is more than ten times what our local bank was giving us, and without any annual fees. For us, the entire sign-up process was accomplished online with ease. Then transferring between our bank's checking account and Synchrony was simple and straight forward. The interest is added toward our principal on a monthly basis. The only drawback is the time for funds to clear. Once we submitted a transfer request from Synchrony to our own checking account, it can take up to three business days for the funds to be available. But unless you are always pressed for time, it makes sense to allow your money to earn more interest for yourself versus your local bank.

Consumer Friendly Bank

I have used many other banks in my time, such as TCF or US Bank, but no other has compared to the service I have with Synchrony Bank. I have been with them for over 5 years now, and I have had an issue only once with a direct deposit not posting until 2 days later, but after I called them, she handled the issue and explained the delay for me, even giving me options on how to avoid issues next time. A very quick and efficient bank. I love their customer service because they make you feel important as a client and truly address your needs, questions, or concerns. I can't see myself doing my online banking anywhere else anytime soon.

Good bank for savings account!

Synchrony Bank is a good bank to grow your savings and future. They offer great rates and make it very easy to access the money if ever needed. The best part of investing with this bank is the rates that they offer. The local banks do not compare. It is also easy to get a hold of representatives for assistance or even log-in online to access your account and make changes. I am very pleased with how competitive they are. I do wish that they would improve the website a little. It is decent, but should definitely be worked on to be as helpful as many other banks that I have seen. All pros and cons considered, Synchrony Bank is an excellent company to work with.

Down Again, No Access

Down for three days over the weekend, trying to move the last $31 out, was using them to hold cash until interest rates changed.

They insisted I create a new PW, had to have two #'s, couldn't be either end, couldn't be together. Yes, I'm serious. Tried 3 times.

Finally got on, couldn't make a transfer.

20 minutes on the phone, I got a confirmation # and the rest. Two days later, site is down for maintenance, no return date mentioned.

All this after changing their EWP to a full year.

Best CD Rates around

Posted by: Xtina84 | Jun 13, 2016

I had searched around for CD rates recently and online banks usually take the cake. I had heard briefly of Synchrony Bank in the past, but after doing some research (before I transferred them all my money), I was able to feel confident letting them hold my money for five years, the CD length I chose. Their website is up to date and I loved that I didn't have to go in there and sign papers etc. I checked out their FDIC status and they are insured for up to 250,000 per depositor which I don't come close to. My only complaint is that as an online bank I feel like it should have automatically set me up for e-statements. Instead I get a monthly paper statement about a five year CD.

Great Rates and Great Service

Posted by: BRO | Jun 11, 2016

I have been an account holder of Synchrony for the past year after looking for a better yielding savings account and CD for my cash reserves. I refuse to use brick and mortar banks because those banks offer horrendous rates. Synchrony's rates are some of the highest in the country even among peer internet-only banks. For example, their online savings account is 1.05% APY and is .3% higher than Capital One 360 and slightly higher than Discover/GoldmanSachs/Ally Bank. The benefit of Synchrony, though, is there is no minimum, so anyone with any amount can take advantage of these attractive rates. You can easily access the money by linking your standard checking account and transferring money only takes a few days, so it is extremely convenient. If you need help rolling over a CD or cashing out a CD, the online chat feature is quick and much easier than calling a customer service line (though you can call if you prefer). Either way, it is better than waiting in a line at a physical bank.

A Pretty Good Online Bank

Posted by: DShepard | Jun 9, 2016

I ended up getting a bank account with Synchrony because I was in the market for another bank, having just left Chase where I was unhappy with their service and their fees. Synchrony's fees are understandable and are not implemented in every single place they can think of to try and get more money out of you. The savings account that I have even has a little bit better interest than the other banks that I have had in my past. This is big for me because I am trying to save for my future and, while it is not an ideal place to invest, am beginning here in my own bank until I get the handle of stock investing. All of my interactions so far have been pretty good. The initial woman I spoke to wasn't the greatest, but after I more clearly stated what I wanted, she was able to help me better. Everyone else has been great. I would definitely, and have, recommend this bank to other people.

5 Stars

Posted by: flamesho | May 28, 2016

I have both a money market and CD account with Synchrony bank. At the time I was looking to open both accounts, they had the best APYs. The APY of a CD was what was most important to me. They also had plenty of options for the time frame or duration of the cd from short to long. It was easy to open my account. I love how I can check everything I need to online, and they are a member of FDIC. I did have questions, so I called customer service. They were very helpful, answered all the questions I had, were courteous and polite. I have recommended them to my family and friends. If I want to open and IRA, I will more than likely check them out first.

Had problems opening account, but no issues since

Posted by: gcpsug | May 27, 2016

I have a high yield savings account with Synchrony bank that was opened late last summer. I chose to use Synchrony bank because of the higher interest rate than I could find elsewhere. I went through the process to open the account online, which was reasonably user-friendly and not too tedious, and tried to schedule an initial transfer to the account from my local bank. Everything looked fine when I logged out, but as I watched my accounts over the next week, I saw the transfer (and the necessary account verification) had not taken place. The two small deposits required for verification of my external account finally came through about a week after I filled out the online forms to open the account, but when I logged back into the Synchrony account, it would not allow me to input those numbers, and eventually said the external account was verified, but would not transfer my initial deposit. Finally, about two weeks after opening the account, I called customer service, and after the brief initial hold time, I was transferred to a representative who got it straightened out, although she did have to put me on hold to go talk to her manager, and apparently there was a problem with my address, so I was locked out of the online system. I haven't had any problems transferring money in or out of the account since, so it appeared to be an isolated start-up problem, and they did handle it professionally.

Synchrony Success

I recently found myself banking with Synchrony Bank, and I could not be happier with the service I have received thus far. In the past year with Synchrony I have been very pleased with how quickly my deposits have been reflected in my account. For example, typically when I initiate a deposit, I will receive a message stating it will be about 5 business days until that is reflected in my available balance. However, this has not been the case even once throughout my time with this bank. I can happily say that my deposits are usually reflected the next day and at most two days after the initial motion has been made on my end. I am also very pleased with the customer service I have received while banking with Synchrony. If I have a question about my balance or a withdraw I did not make note of, I can simply call and always receive cheerful and helpful service from someone who can clear up any questions I have quickly. In summation, I will say that banking with Synchrony has been a pleasant experience and I am thankful to be working with them.

SYF Status

Posted by: Bevridge | May 12, 2016

Too much exposure to low grade private label credit cards.

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Synchrony Bank Review

Posted by: LukeMartin | May 5, 2016

I decided to open a Synchrony Saving account, I have always used brick and motor type banks and decided to do all my saving banking online with Synchrony. Almost everything was done online except for a few things that I had to sign and send back. The application process was very easy and did not take much time at all. I was rather impressed with the saving account interest rate, it was the best I could find among any company. My interest rate is at 1.05% which is not great, but compared to the competition is pretty good. I will say that the online site could use some updating. It is not hard to use, but it could be better. My biggest complaint is that there is no mobile application. This is a huge disadvantage to me since I enjoy doing almost all of my banking via smartphone. I hope that this changes very soon. In addition, there is no capability to have person to person transfer. I know from some of my friends that there online banks have built in features like pop money. These are a few of the complaints but everything else has been great. I even had to call customer service one time, and the representative was friendly and handled my concern. The wait time was a little slow but nothing crazy.

A Solid Alternative For Savings Account

Posted by: Snc-t | May 3, 2016

I was looking for a savings account where I could incur higher interest. I tried online banking previously, but the interest rates were really low. I was able to link my existing checking account, and set up automatic transfer pretty easily. There's also an option of choosing if you want your transfers to be daily, weekly, bi weekly, or monthly. It's definitely helped me save for my individual taxes, whereas the savings account through my main bank takes out a monthly fee. Although minimal, it was frustrating to lose even the smallest amount of money that I planned on saving. Synchrony has the highest interest rates I've found so far. I have yet to have issues with the website and will plan to continue to use it in the future.

Synchrony Bank - A Good Choice For Internet Banking

Posted by: CKem49 | Apr 17, 2016

I have been a customer of Synchrony Bank for about four years now. I initially opened a savings account there because they paid about 1% compared to my local bank, which paid essentially no interest. Later I also had a CD account. When I retired from my job, I transferred my 401K to an IRA at Synchrony. I have a link between my local bank and Synchrony, so I can easily transfer money back and forth. I have had a couple of minor issues with the bank. The bank forgot to credit my account with $50 promotion for opening a CD account. I had to call them to remind them. When I wanted to take a distribution from my IRA, they send me the wrong forms to fill out. To their credit, they caught the mistake and contacted me to fix the problem. Their website is easy to navigate and I now know that I can download any form that I need. When I called them, I never had to wait long before I could talk to a customer service representative. Overall, I am a satisfied customer of Synchrony Bank.

They Made Me Feel Like I Was More Than A Number, That I Was Important To Them.

Posted by: lmparker | Apr 13, 2016

I have only had my account with them for less than six months, but I have grown to trust them like they have been looking out for me for years. I needed a bank account that also offered a Visa or Master card. I looked around online and found them. I started talking to them online and they told me all about the perks they offered to their customers. I opened up my account. Two weeks into having the card I had no problem using the card anywhere. I got a text message from the bank. I called them and they told me one of the places that I used my card at had reported to them their credit information had been compromised. So they were going to need to reissue a new card to me. They kept my card available for me for a few days while they sent me a new card. That way I would still be able to get to my money. They were kind and understanding and gave me a lot of confidence in them.

What A Horible Web Site Experience.

Posted by: Volstagg | Apr 7, 2016

Be warned that in order to link external accounts you need to use a One Time Password (OTP). I've tried twice now to use their system, once to have it call me and once to have it text me. In both cases I was unable to get it to send me the code and the LOCKED MY ACCOUNTS!

Come on, seriously, your system is broken so your action is to lock my account. What a PAIN!

And the worst part is, they know there's a problem. "We're aware there's an issue and we're replacing the system, in a few months".

EDIT: Updating to 1 star overall. Even after getting them to unlock my accounts and verifying my trial deposits, one of my banks (Alliant Credit Union) apparently isn't in their "system" so now they want me to mail them a copy of my statement to prove I own the account, as if.

Great Rates

Posted by: JH2016 | Apr 5, 2016

The allure of Synchrony Bank was their high interest savings account. That's what got me going. I wanted to earn a little extra for having my emergency money in my savings account so I decided to switch my savings from a big name bank to synchrony. After a little over a year, I am happy that I decided to make the switch. It's been very nice to see my account growing. The only problem that I have faced was the sign up and registration for my account. The online and over-the-phone customer service was average at best. They seemed to not be able to answer simple questions. Things linking accounts, withdrawing funds, and adding funds were a puzzle to them. Questions that should have been answered in a couple of minutes dragged out to over an hour! They were kind of unorganized. However, since setting up my account, I have not had any problems. The easiest way to deal with average customer service is not to deal with them! Synchrony has great rates, a great savings account, and should be used by everyone!

Synchrony Bank Review

Posted by: Goat | Apr 1, 2016

I love banking with Synchrony Bank because they are friendly and easy to work with. They have competitive rates for CDs and savings accounts. Overall, a great place to bank!

Grerat Experiences!

Posted by: Dina Lam | Mar 30, 2016

I've opened 3 accounts with Synchrony. No problems opening CD's and High Yield Savings online. Great friendly service when I called.

Hard To Buy CD's.

Been trying to ladder CD's on a parent's account, I am POA. Takes an average of 2 hours to transact a CD purchase over the phone. It can't be done online if you want to link the accounts (mine and parents). They seem to be very confused on how to do it. It gets funded from a money market account held by Synchrony but you need to keep checking to make sure this actually takes place. Just because you tell them to take it out of the corresponding account does not mean it will actually happen. Some time they send a tax withholding form for signature other times they don't. I've asked why and they don't seem to know. Last month when I purchased my 2 CD's they sent a w/h form to sign for one and not the other. For the previous 8 CDs i didn't receive any. They seem very confused. If it wasn't for the very competitive rates I would probably not be wasting so much time dealing with them.

Great Bank - Definitely Recommend

Posted by: MB1984 | Mar 29, 2016

I've been with Synchrony Bank for over five years now and would highly recommend them. I have a savings and money market account with them. I have had no issues with Synchrony at all and LOVE them. Their customer service is always ready and willing to help and address any questions or concerns I have had. I love their online banking - I do almost all my banking online, so this service (provided free of charge), makes me extremely happy! Their website is highly resourceful and user-friendly. The fact that I've been with them for over five years without any problems or hiccups, should definitely speak to the character and integrity of the bank. I have and will continue to recommend Synchrony Bank to all of my family and friends. You will not go wrong by choosing them for all your banking needs. They sit far above many other banks, and I have no doubt they will continue to rise in the ranks.

Great Savings Account

I came across Synchrony bank's savings account through reading an article on the penny hoarder blog about the best savings account rates available. After reading the article I did some research and found that Synchrony bank seemed easy to use and their savings account only required a small minimum deposit to open an account and had a very competitive interest rate and no fees.

Having found all this information out I opened an account the beginning of May to be my little stash savings account where I put money from side jobs I do online. Over the past 4 months I have had absolutely no issues with Synchrony Bank. Their website is very user friendly and easy to figure out, while still having good security measures you would expect from a high quality banking institution. The statements I get are easy to read and very well done.

I had dedicated myself to using this account to stash $100 a month in from freelance work, and have been able to do so every month- there is no limits on incoming transfers so I can easily transfer from my checking account at another bank into Synchrony. The only issue I do have is it seems to take a long time for the transfers to show up, but other than that it is great!

It has truly been a pleasure dealing with Synchrony, and would highly recommend them!

Synchrony Bank, Five Stars

Posted by: Kyle2016 | Feb 12, 2016

When I opened my High Yield account with Synchrony Bank, I was very excited. The interest rate was 1%, one of the highest of all savings accounts. I started my account off with $250. When I first opened the account, I had many questions so I called customer service, and they were very pleasant. They informed me about the account and told me how long my ATM card will take to come in the mail. The application process for the high yield savings was quick and easy. They even assisted me in setting up my pin number for my ATM card. I was very satisfied as a customer.

In addition to this, the online banking is extremely user-friendly. You sign on and it tells you everything about your account. It tells you how much interest you have earned. I enjoy the fact that I can access my money by the ATM, although it makes it harder to save. I would recommend this account to anyone.

Synchrony CD Review

Posted by: eeliram | Feb 5, 2016

Synchrony Bank had wonderful CD rates for 2 year CD, which lured me to their site. However, I was unable to get my money transferred from my external account to them, even though I made 6 phone calls. Their website is NOT user friendly. I spoke to a customer service rep, who assured me that my money would be transferred, I even received a confirmation number and NO money was transferred. I was fearful I would never be able to withdraw my money.
STAY AWAY from Synchrony, they are bad news.

Very Positive Experience

Synchrony had the best rates when I was searching for a MM Savings account. Opened the account online, waited for them to vet me, setup the online transfer and now each month deposit into the account.

Had to call them once because of a small glitch and the rep was very helpful.

The only thing I wish they had was a confirmation number when making a transfer.

Many Errors

At the end of the year my wife and I needed to get RMD for our IRAs. We wanted to open a joint account where to park the monies temporarily. There was no long waiting time and no any kind of impoliteness. The problem was a very low level of professionalism, so we needed 5-6 calls instead of two to correct their errors. First, they promised to open the joint account but instead opened the account on my wife's name alone with me as her POA. Then they wrote me that they cannot transfer my money to that account because it does not belong to me, and they informed me by regular mail, just 4 days before the new year - I could be in violation of the RMD requirement because of their error and needed to pay 50% tax fine. When I called, they suggested to open another account on my name alone, and I agreed for the sake of rapid resolution. After that there was another error in transferring funds. So you should be very careful to check every execution of your request.

Real People Real Fast Phone Customer Service

I had a 15 month CD that during it time was bought out by Synchrony Bank Optimizer +Plus. I was a little freaked out at first but the pleasant surprise was that the phone support was actually good. Not used to that at all.

No long wait during the call, no computerized press this button and then several more buttons before a real person. I got a real person right away without the wait. Something I wish more companies would do.

Finished my 15 month CD, and I was given a email notice and a hard-copy notice via snail mail to remind me what do do next.

I have no problems. I would recommend Synchrony Bank Optimizer +Plus online banking. I know it a bit scary to put money in a company that does not have a brick and mortar branch in your hometown but for CD's I found it to work great.

BTW: best rate for a person with 2000 dollars to put in a CD

Poor Way To Do Business

Posted by: snippy106 | Dec 14, 2015

Their representatives had me fill out 3 forms to open an ira cd. I did that and mailed them to the Atlanta office. 2 weeks later I checked to see if they received everything and the form with all of our ss numbers was missing. Really you got everything but the one even though they were all stapled together. Never again will I do business with an online company.

No Brick Means Higher Rates

Posted by: JPAbbott | Dec 10, 2015

I don't know of any physical locations for Synchrony bank in my area, this abscense of brick and mortar locations means one very welcome thing; higher rates. Synchrony is constantly at the top of if not leading the list of rates among banks including both savings and CD accounts. The absence of human interaction may be a drawback for some, but if you're looking for the best rates, but the rates may very well be worth the compromise.

Worst Telephone Service EVER!

Posted by: Lisa5720 | Nov 12, 2015

I moved my Savings into this bank because of higher savings rates. I am totally disappointed. I have been trying to reach them by phone for 3 days to report a lost ATM card while in Boise. Their phone just constantly rings busy. I am unable to find another phone number for them. They advertise high rates but, it is not worth the aggravation of not being able to get anyone over the phone. I emailed them two days ago, so far no response. I will move my money back to my local credit union. The joke is, that on all the negative reviews on this website they respond back to call the phone number. Good luck with that one. You will constantly get a busy signal. Don't waste your time with this place.

online banking

I have been using Synchrony Bank online for my savings accounts. I opened one up about three months ago, I was a little worried because their was not a physical place to go to, but it has the best interest rates around for saving accounts. The opening of the account was very user friendly and I received my verification by email quickly. I get statements in the mail like clockwork every month and have not have any problems transferring money. I like them so well that I have recently opened a second account with them, with the same ease as the first.

Excellent Online Bank!

Posted by: Avery | Oct 27, 2015

This bank is a great online based bank. I was looking for a bank to open a high yield savings account with, and I found Synchrony. Per a banking site, they had the highest interest rate for a savings account available at the time. Opening the account was pretty simple. One notable thing is that they do mail you paperwork to complete and mail back (at their expense) rather than fully complete the account opening process online. Once opened, it was easy to connect other bank accounts and transfer money between counts. I really like that I am currently earning a 1.05% interest rate where my former bank is at 0.80%. Customer service is easy to access by phone during regular customer service hours. When I called customer service because I got locked out of my account they were very friendly and made it easy to unlock my account by verifying my information. Their website is rather clunky and leaves something to be desired. You will get used to it, but I don't like the interface. I also feel that their fees are very reasonable and presented well. I have not paid a single fee during the year I have had my account open.

Hassle Free Banking

Posted by: xyzzy | Oct 23, 2015

Opening the savings account on line was a simple process. The test payments to link my external account went through the next day, and the funding transfer went through quickly. Additional transfers are easily set up on the website.

I find the website very easy to navigate. Everything I do is in an obvious location and not 3 menus deep like some other banks.

I can't comment on customer service. In the year I have had the account, I have never had to use them, but that is how I want my online banking to be, just login a few quick clicks and I am done.

Synchrony Screwed Up. I Paid For Their Mistake

Posted by: hastal | Oct 5, 2015

When my IRA CD matured, Synchrony followed my instructions to mail the proceeds to another online bank. Except they stopped payment on their own check. For two days, Synchrony denied stopping payment. Two days later I was told that they indeed stopped payment. They were willing to mail a new check but insisted they didn't make a mistake. They said they didn't stop payment on my check; they said they stopped payment on a check that had the identical number as my check. And they didn't compensate me fully for my lost interest. And they didn't apologize. And it took me about 10 hours to deal with their error. Beware of Orwellian banks like Synchrony.


Posted by: lynne | Sep 30, 2015

these people are IMPOSSIBLE to contact., as many other reviewers have mentioned. i had a bank error in my bill pay and can't reach anyone to correct it. unbelievable. i marvel at companies like american express that make it so easy to speak to someone, as large as they are, they manage to offer customer service. i will never deal with synchronicity again.

Very Dissatisfied

Posted by: alicep | Sep 7, 2015

I had 2 accounts with this bank because of the high CD rates. When I tried to close the first one at maturity, they completely messed up the closing, gave me bad information, promised to transfer the money to my personal account at another bank and then ended up mailing a very large check to my home. While we were out of town! So even though it was all set up to receive the money via wire transfer to my personal account, someone messed up and mailed the check instead. It will end up costing me about 2+ weeks of interest plus hassle. So even though their rates are the highest for my next CD deposit, I will NOT bank with them again. Take heed!

Very Good Customer Service & easy website to navigate

On or around 15 months ago my Mom gave all her daughter's a fair amount of money as a gift of around $2500. I wanted to put it in a CD. I shopped online and used a comparison tool to find out the BEST CD rate for $2500 or less. Synchrony Bank Optimizer +Plus was called GE. At that time the percentage rate was 2 percent. The highest available to me as a civilian. The only other financial institution that had a higher rate was in Washington D.C. and had to be in the military to be a member.

During the time that GE became Synchrony Bank Optimizer +Plus I was a bit worried but the online experience was NO problem whatsoever! I was almost shocked at the ease of transition. At one point I do remember calling the phone support and this time I WAS SHOCKED because I am so used to be put on terminal hold and pressing buttons all the time it was WEIRD to have a human right off the bat without even having to press '1' for English. I would recommend this bank for CD since that is the only experience I have with them.

Piss Poor Service

Posted by: Jimsomers | Aug 26, 2015

My cd matured today tried calling the toll free number All I'm getting is busy signal for last five hours read reviews of this bank in meantime now wondering if I made right decision to use this bank What was I thinking. DOH!

Absolutely The Worst!

Posted by: mpromney | Aug 26, 2015

I'm a new Synchrony customer (savings). Their systems and processes are from the dark ages. I'd give them 0 stars if that was possible. They pull customer contact information (phone numbers, etc.) from credit reporting bureaus (whose information is often outdated and inaccurate), instead of using the information that customers load into their profile. Consequently, was unable to complete a simple external bank account verification without endless calls to Synchrony's understaffed and poorly trained customer support department (endless waits on hold). They also prevent you from moving funds from one Synchrony account to another Synchrony account during the first 45 days. I've never encountered such an antiquated, outdated company. If my experience is any indication of how they run their business, I don't think they'll be around for long. If you invest with them, be absolutely certain that your accounts are covered by FDIC insurance.

Exceptional Customer Service!

I have a savings account with Synchrony Bank Optimizer +Plus. I absolutely LOVE their customer service team. The service and rates make this very competitive but the Customer Service is what keeps me coming back. I once had an emergency which forced me to pull my entire savings out and because of this it caused my account balance to fall under the minimum balance requirement. I could not bring the balance above that amount for a couple months, but I was able to contact the customer service and they immediately removed the additional fees for me. I have had to contact them for something as simple as a balance to more complicated items. Anytime I contact this company they are polite and prompt with helping me with all my concerns! Synchrony Bank and this savings account are fantastic. They have consistently met and exceeded all of my expectations! I strongly recommend this product!

Worst Bank

Posted by: Onecloud | Aug 1, 2015

Not worth the extra interest. Terrible on line service who ever set it up must have been on another planet. You can only call for help about one third of the time and it takes up to 40 minutes if your are lucky to get a live person.

How Come?

Posted by: wey1931 | Jul 23, 2015

I have never seen such bad service!
My complaint stems from the fact that it's been over a week to request an error the bank created.
I have spent 5 days, 20 hours time due to long holds over an hour to correct THIER MISTAKE!!!!
Briefly, the bank withdrew funds from my bank
TWICE!!! when I requested only one withdraw from my bank. I have incurred a $35.00 charge which I have asked Synchrony bank to pay my bank.
They promise to put this error on a fast track. NOTHING HAS HAPPENED!!!
For all the pain and suffering that they have caused me, one would think that for good PR they would compensate me for my mental & physical
They have not reimburse my bank $35.00 and showed concern for my situation!!!!
Worst banking experience for my 50+ years with financial institutions!!!
ABA should be notified!!
How can I rate anything other than 1 Star!

Completely Frustrated With Account Opening

I attempted to open an account online about six weeks ago. Synchrony asked for a lot of info including drivers license number. At the very end of the process, they rejected the last four digits of my wife's SS number even though it was correct. I was then informed that the website was down.

I later completed an account application with a rep on the phone and had to supply most of the info again. He indicated that the online app had been approved but he had deleted that account. He gave me a new account number and informed me that paperwork would be coming and that deposit(s) to my bank account would be made and that I would need to confirm those before electronic transfers could be made. I did receive the paperwork, returned it with a small initial deposit and that was confirmed by mail from them. However, no trial transactions had been made with my bank so I called them to complain. The rep said the account had never been set up for bank transfers. At that point, I ranted for a bit and asked that the account be closed and my deposit returned. Between wait times, online app typing, and actual phone conversations with reps, I estimate that more than an hour of my time was wasted.

In the midst of all this, I received an offer from Capital One that had a lower interest rate but with a bonus for sizeable deposits. I opened an account with them in a fraction of the time that I'd spent on the phone with Synchrony and the electronic transfer was set up in less than a week.

Awful Service, Awful Represenatives

Absolutely horrible. I get that they need to have higher APR, but it can be ridiculous. I recently called in to ask questions about my account, and both representatives that I spoke to were completely rude! They gave me very snarky tones and didn't listen to what my concerns were. When I asked a question, they would basically just read from a script, not give me a legitimate answer. When I expressed that I was frustrated with the experience and frustrated they weren't acknowledging that I was upset, they would just repeat the answer that frustrated me in the first place. I work with a call center, so I get that calls can go bad, but I know it is never ok to throw such a rude attitude and talk down to callers.
Then once I called back to try to get somebody else and to actually close the account, I expressed that I was treated completely rudely and the representative only said "I'm sorry you want to close your account, are you sure about this?"
Once I pay this off, I am done. I closed my account and I will never be using it again. I will be telling everybody I know to never use it, because it is horrible. I suggest to anybody who is interested from purchasing something large from G.E. Capitol to finance elsewhere.

Bank Services

Posted by: abis521 | Jul 16, 2015

They're fast when you open a new account, but it would be a lot harder when you contact them for any other reason!!! They put you on hold for average time of 20 minutes not counting how many times their phones might be dropped! And try to change your Password or anything in your profile to see how much problematic that tou get into! Good luck! Terrible Services!!!!Will never open another account with them

New CD Application Denied

Posted by: John Lee | Jul 15, 2015

I recently applied for a new CD with Synchrony Bank. I just received a letter that the application was denied due to them not being able to verify my identity. Wow, what a joke. I have several online CD accounts with other banks and have used every local bank in my home town plus some in other towns. I had given them my drivers license information and and social security number. Answered their history questions and all information they asked for. After which I wrote them a letter adding even more information as I wanted for the account. Never had any bad credit issues. No background check issues. Never had this happen with any bank or other service or institution. Also received the denial notice at my residence address after telling them for sure to send it to my PO box. Talking about incompetence.

Horrible Customer Service.

I am writing this review with no other option than getting myself heard on the internet in the hopes that someone from the bank will reach out to me if they really care about their customers. I am in need of a bank letter stating a balance on my account and date the account was opened, etc for immigration purpose. I tried reaching the bank over the phone but that's when I realized the horrible customer service they have. Like the previous review mentions, you will wait for at least 15 minutes or even longer. Then in my case the automated voice said, "sorry the bank is closed at this time." I mean really, then why make people wait? then I tried calling them during the normal business hours 2-3 times. Again wait for 20 minutes. A representative came online and couldn't resolve my issue so she took my information and said she will ask someone from other department call me. That someone has never called me back and I am still waiting. I tried contacting them via their online email message system 3 TIMES, still haven't heard from anyone yet. Simple solution I see is close the account and transfer my money to other bank which has similar interest rates. I am afraid I might need to withdraw my money someday and they will not respond to that either? who knows!

Extremely Long Phone Wait Times

Posted by: maddoxlc | Jul 7, 2015

Follow up 8/23/2015: I tried contacting Synchrony to explain what I wanted to do with my maturing CD. Again, I could not reach anyone and could not leave a message. They don't seem to read email messages, either. It was easy to set up the account, but nearly impossible to reach anyone since then. Beware of this Venus Fly Trap - easy and enticing to get into, difficult to get out of when you need to.

I was on hold twice for an hour each time on 7/6/15 trying to reach a customer service agent, but never got through. I left an email to be contacted, but received no reply. It's my only financial institution that does not allow Mint.com access, making it very difficult to manage my finances. Synchrony has great rates, but they come at a great price of personal time. I'm trying to decide whether the rates are worth the customer service hassle.

Always Difficult To Get A Live Rep On The Phone

Posted by: Fuji Le | Jul 6, 2015

I have recently opened an account with Synchrony and it have been difficult to talk to someone live on the phone. After waiting for about 20 minutes twice, a live customer service answered the phone and took my name down to schedule a call back due to high volume. I have not received a call back on both occasions. This is disappointing as the GE Capital products were superior.

Great High Yield Options

I began banking with Synchrony Bank Optimizer +Plus after having issues with a different banking institution. The process to open an account was mostly straightforward. The only thing I didn't like about opening an account was that they mailed some paperwork to fill out and send back. Since they are billed as an online bank, I expected the entire process to be online. As far as fees go, they are very low or just not there. I have a high yield savings account and there's no regular fees at all. The interest paid is exceptionally good. They have a very high interest rate for the high yield savings account that I have been enjoying taking advantage of. Their customer service is very good. When I have been forced to call in with a problem, usually getting locked out of my online account, the banking rep on the other end of the phone has been very friendly. They've taking care of my issues quickly and made suggestions to prevent it happening again. The only thing I don't like about the bank is the website. It is clunky and doesn't flow well. It does give you the information you need, but not where you expect it to be. The log in process also just doesn't work well. I have locked myself out of my account more than once. Overall, I am very happy that I switched to this bank and I am happy with the savings account I have there.

Hopelessly Slow Service

Posted by: pmlang37 | Jun 13, 2015

We had a CD mature and wanted some funds transferred to a savings account and the remainder renewed but for a different term. It took two phone calls, as I gave up on the long wait the first time, and then waited it out for over 20 minutes the second time. I told the rep what needed to be done -- but she couldn't do it herself, only pass it on to another department. She said it might take a couple of days. It took five days!

Horrible Customer Service

Posted by: beachdeb | May 30, 2015

I cannot believe the rudeness of the supervisor I spoke to about a mysterious debit to my savings account. I can't believe someone with her attitude is in a position dealing with customers. As soon as the money they erroneously debited is returned to my account, I will absolutely close this account.

A Tale Of Two Banks.....

Posted by: Snafooo | May 2, 2015

I set up two 60 month CDs with two banks on the same day - Synchrony Bank and Barclays. Same amount, same EVERYTHING. With Barclays, everything went off without a hitch. Seamless transfer of funds on the day they said they would transfer, and I am getting my interest transferred monthly to my outside checking account. This is being done perfectly. Synchrony is a different story. They said they would transfer the initial funds on a certain date. They didn't. I called 3 days later and they said they would pull the funds from my other bank that day or the next. They didn't. It took several calls and 15 days later and they FINALLY pulled the funds. I complained because that was 15 days I didn't get the higher interest rate from them that I was supposed to be getting. They said they would credit my account with the amount I should have gotten. That's great customer service!! But it didn't happen. It didn't even show up in my online account. I called again. Of course they were very apologetic.... They did whatever they needed to do, it showed up online, but it was in LIMBO. It wasn't added to my balance. It was just "there" as an amount. I figured I'd wait to see what happened when my interest was transferred over to my outside checking account. Well, that happened but that courtesy interest was left just sitting there doing nothing. It took another call for it to get transferred. Now I'm waiting to see if my interest is going to be automatically transferred at the end of the monthly cycle or if it's going to take several more calls to make this happen. I really don't think I should have to babysit a bank account.

Drawn by great investment rates.

Posted by: NOLAGirl | May 1, 2015

I was skeptical of opening an account with an online bank, but once I saw the investment return rates, I decided to go ahead and give Synchrony a try. The CD rates were definitely the reason I opened my account and I have not found another bank that matches that. It's a great option for easy, short term investing. Let me also say that I love the online user interface. It's really easy to use. The website has made monitoring my accounts and getting customer service when I need it a snap. The customer service agents are quick to answer and very knowledgeable. A better experience than traditional banks, even. I have had such a good experience, I'm planning on growing my portfolio with Synchrony to include a money market account. I would definitely recommend Synchrony to a friend if they were looking at investing or an alternative to traditional banking. My experience has been great!

Poor Customer Service

They will not allow a POA on an account that is titled to a revocable trust. They are the only financial organization I know of that won't. Schwab, Vanguard and the major banks allow it. It makes it virtually impossible to work with accounts for elderly parents. Finally had to open account in just individual's name. Took a year to do this. Synchrony kept sending wrong forms and telling me wrong information. Finally got it switched and a POA sent to them. It took over a year to do it. When I called today they still could not help. They never associated the two. The can see all the phone conversations, the retitled account and the POA, etc. But they are only a call center and can't connect them. URGGG!!!.

Hold Times Are Illegal

Posted by: maximizer | Apr 1, 2015

I will never bank with them again, on principle. I transferred funds from an external account (that I had registered with them) into my Synchrony savings acct with the intention of opening a CD. I called them to open the CD. They did but said they'd have to hold the funds transferred in via ACH for 24-48 hours; then they'd fund the CD when the funds were available. OK. I understand that. Then when the funds were available they did not fund the CD immediately but said that the process of transferring the funds to the CD would take another 24-48 hours. CSR and supervisor ignored all my protests that this is not kosher, that all other banks I work with transfer funds from one acct to another, when they're available, immediately. In this instance not much money was at stake, but I had to show funds in certain accts by the end of the quarter. Supervisor refused to budge. "This is the bank's policy." Upshot is: they'll hold funds for 4 days after they've arrived in your savings acct via ACH, 2 days AFTER the funds are available. So plan accordingly. My response is just not to do business with them again.

Great place for a savings account!

I was looking for a new bank after having a bad experience with a previous bank. I was mostly looking for a high yield savings account. I used BankRate.com and found out that Synchrony Bank had almost the best yield available for a savings account. They were also highly ranked. I went to the website and looked to see what was required for an account. It was very simple, just your personal information and an opening deposit. I could even put a secondary owner on my account, which I like to do. I opened up the account online. The only thing they didn't do online was a signature form. They mailed me the form and I signed it and sent it back in the postage paid envelope. They transferred my opening deposit electronically and I added a couple of my other bank accounts to allow electronic transfers. Up to this point everything was really simple and straightforward. The only downside is that their requirements for your online password are so strict I can't seem to remember the password and I keep locking myself out. When you are locked out you have to call in and have an actual person reset your account. I tried to do the online reset but it claimed I didn't have the right information. The rep confirmed my information and reset the account. The only thing I don't like about this bank is the password stuff. Everything else has been super smooth and I am getting a great rate.

Synchrony Bank (formerly GE Capital Retail Bank)

Posted by: DJ83L | Feb 4, 2015

During the end of the year when great deals are offered through the banks I looked up online for the best rate available at the time which for me was 1% for a 15 month CD with a deposit of $2,000. That is the best anywhere found for an civilian. If I was military the only higher interest rate would be the Pentagon Credit Union.

At first I felt skittish about an online bank, not because I never did it before. They sent me a hard-copy mailing regarding the name change to 'Synchrony Bank' but other than that, nothing changed except that there were 5 security questions instead of 3 in regard to password recovery. The five answers all have to be different from each other. I only wish I was able to make up my own questions instead of canned questions that I have no answer to.

Synchrony Bank

Posted by: flower3 | Jan 18, 2015

Synchrony Bank has the poorest customer service of any bank. Now, they say my account is "restricted", and I cannot get my money out. Why? I am filing complaints with three (3) federal banking agencies as well as the state attorney general. DO NOT TRUST THIS BANK!!!!!

Good Service And Rate

Posted by: kiwi | Jan 16, 2015

Very easy to renew IRA CD. Representative very helpful and informed.

My Experience Has Been Generally Good

My wife and I have opened many accounts with this bank, due to their higher interest rates,both IRA and not IRA, in person and by phone. Generally everything went smoothly. From the beginning we gave the bank our mutual POAs, and they do not create any problems when I deal for my wife.

Two problems reduce my star rating to 4 instead of 5: 1) when you open an account over the phone and send them a check by mail that takes a day to be delivered inside NJ, it is frequently credited in a week; 2) when at the end of December we needed urgently to change the instructions about my wife's RMD, it took sending a fax twice plus at least 5 phone calls to make it right.

Synchrony - Same Good Rates and Service, New Name...

Posted by: RobinA | Jan 7, 2015

Before the financial crisis that sent interest rates for savers plummeting I had put part of my IRA into a five year CD at MetLife Bank. I had found them at Bankrate.com, offering this long term CD at a rate just under 5%. Those were the days! The customer service staff at that time was quite helpful, guiding me through the process of transferring an expiring IRA CD at my local bank and rolling it over into a CD at MetLife Bank. Everything went smoothly and my IRA enjoyed this high return until it expired last year. By that time MetLife Bank had become GE Capital Retail Bank. I had a few occasions to call them before my CD was to roll over again and the staff seemed to be the same as it was back when they were MetLife. The new rates were in line with the high end of what was available at that time, early last year. I decided to temporarily leave my IRA parked with them in a savings account earning just under 1%. During the last year the company has undergone another name change, now becoming Synchrony Bank, and their consumer account products marketed under the name of "optimizer+plus". From what i can tell from the account information regularly sent to me, the customer support department is still the same operation it was back when it was MetLife Bank, so I would have nothing negative to report on that end, as I always found the staff there to be knowledgeable and helpful. Lately I have seen advertising aggressively marketing their consumer accounts under the new moniker and their rates seem to parallel the high end of what is presently available in their niche. If you are seeking safety with a relatively high return and good customer service, a Synchrony Bank "optimizer+plus" account might just work for you.

Synchrony Bank offers no branch banking as far as I know, at least in my area, but the bank's website (myoptimizerplus.com/banking/index.htm) is very user friendly with all necessary information readily available. I would recommend, however, utilizing the very efficient customer service department (1-866-226-5638) if you are thinking of opening an account with them, as they will be able to answer all your questions and guide you through the process.

It's Been 4 Days Since I Opened A Cd And I'm Trying To Get My Money Back

Their website and registration has so many twists and turns and about 15 different passwords you need to use. After carefully recording everything including all the passwords, they now won't accept my login. They tell me I'm using illegal characters, when I'm not using any characters other than letters and numbers. Chances are I won't be able to get my money back from them at maturity, so I'm trying to get it back now without any penalty. It's been 4 days since I transferred them my money. I should have read the reviews and not bothered in the first place.

Not Very Competent

Posted by: steved | Oct 31, 2014

When funding my account, Synchrony executed an extra ACH transfer, overdrawing my other account. The extra unauthorized transfer was not credited to me.

My other bank provided them with the ACH tracer and confirmation info. After a week of waiting, they still couldn't locate the unauthorized transfer. Finally, I gave up on them and reported an unauthorized transfer under Regulation E. My bank reversed the transfer and all was resolved.

Their offerings are great and service personnel are polite. However, their inability to correctly execute an ACH transfer or resolve their error shook my confidence. I closed out my account and went elsewhere.

Better than most

I am happy to say that doing business with Synchrony Bank has been a pleasurable experience, and I rate them better than most other financial institutions that I have worked with in the past. Having excellent customer service is the most important factor when sizing up a potential bank with which to do business, and that is where Synchrony shines. The problems that I have experienced have been few and far between, but when an issue arises, their customer service reps actually seem to care about me and have always worked diligently to correct whatever the issue is and to make sure that I'm completely satisfied. This is a huge positive for me since there is such a wide choice of banks to do business with, and actually getting someone who cares about helping me is paramount. Many of the services they offer are better, or at least equal to, the product and service offerings you will find at other financial institutions. Overall I'm extremely happy to be doing business with them and have no intentions of looking elsewhere.

Are You From The Past?

I just started a savings account that I funded from another internet bank I use. The process to enroll involving mailing forms and waiting for the electronic transfer from the other bank went smoothly. However here I am sitting in front of the web site and I try to set up another transfer account. The first thing I see is that they require me to get a text or phone call with a code I need to enter into the web site to continue. My only problem? It was a phone number from my landline from like 1998. I no longer own THAT number but as I looked at my personal information sure enough my REAL number is there. So I CAN't receive the code necessary to add the account to move more money into this ridiculous bank. I called customer service expecting to easily have them change the information and be on my way but was surprised again. Although the call was answered quickly I was informed that he could not change the number. He also explained that the program was using old numbers for people that were entered into my credit report for the contact number rather than my actual contact number...Genius! He promised that they were working on a fix for the issue and that I could send in FORMS VIA MAIL to get my accounts set up for now. Ummm no....Is there a lemon law for banks?

Anyway, if it isn't fixed in a week I am out. Maybe they should hire real programmers that know to look at the newest records in the credit report for information instead of the first record. OR better yet....use the information provided by the customer.

Works For Me

We opened a high yield saving account about a month ago. The account needed to be titled as a trust so had to talk with a customer rep vs. paper work completely on-line. Wonderful guy, all good, took about 15 minutes. Logged on immediately to check the info. He almost got it right... Minor issue with registration phrasing. Sent a secure email requesting correction. Updated next day. The only oddity - secure email requires a second login and password. Okay... we're still good. Next step involved registering external accounts. Process a little mysterious, no apparent activity for about 4 days, but presto, all went smooth. Then transferred a little from all external accounts. They claim 1-3 business days (apparently for us that really means 3...). Money in smooth. After the fact I discovered various review sites complaining that transferring money out was impossible, so... initiated a small transfer out. 3 days later, money appeared in external account. Registration, customer service, account setup, money transfer in AND out all work great. As far as I can tell, we've exercised all the important moving parts and they all function as advertised. Overall I'm quite pleased with Synchrony. If you have issues with this bank, it's more than likely self-inflicted. And if/when you do screw the pooch, they'll do their absolute best to help you clean it up.

Reserve Cash

Posted by: innis8 | Sep 9, 2014

It's a great bank for reserve cash because my local checking account cheap % interest even with $10,000 deposit .01%.

The IRS Gives Better Customer Service

Posted by: mayersom | Sep 4, 2014

I have been trying to open a savings account for the last 12 days. First, the customer service rep said they would email me an acknowledgment and instructions. Never came. When I called back, they said two trial deposits would be made to my external account from which I wanted to transfer funds to Synchrony. Never happened. When I called back, the customer service rep said no test deposits should have been made. She said I should mail in their Authorization Agreement for Electronic (ACH) Debits and Credits. When I called back with a question about how to respond to one of the questions on the form, I was put on hold for over twenty minutes before I lost patience and hung up. The bank offers great rates but they need to improve their customer service.

Beware! Access To Money Limited For No Reason

Posted by: CurtC | Aug 27, 2014

Setting up an account was easy. Linking it to external accounts was easy. I have had it funded for several months, and now when I tried to transfer money out, my account is 'locked' from transfering money out.

Customer service verifies that my external accounts were set up properly and are available, and can give me no reason for why the account is locked. So have no access to my money for 48-72 hours while a 'supervisor' 'unlocks' my account.

Total BS.

Special Rate For Current Customers - 1.25%

Posted by: Sperry8 | Aug 21, 2014

Just received a direct mail solicitation offering a 1.25% APY CD for 18 months. Must open by Sept 15, 2014.

Synchrony Bank

I have had an awful banking experience with Synchrony Bank and attempted to ACH my funds out of this bank the end of July but had some issues with the website. After waiting for the trial deposits to “hit” it became apparent that the ACH failed. I tried again and had some on-line issues. I finally called the bank on Monday, August 11, 2013 and requested that the money be sent via ACH to a bank here in Atlanta. Today is August 20, 9 days after I requested the ACH transfer and the money has still NOT been posted at the bank here. I called again. Apparently Synchrony finally sent the funds yesterday. What if I really needed that money urgently! I ENQUIRED ABOUT THE INTEREST AND WAS TOLD THAT IT WAS ONLY PAID THROUGH AUGUST 11 AND THAT THE INTEREST AFTER THAT DATE WAS FORFEITED IN ACCORDANCE WITH THEIR TERMS AND CONDITIONS. IT SEEMS ABSOLUTELY AWFUL THAT I HAD SUCH A HASSLE GETTING MY MONEY OUT AND THE BANK IS KEEPING THE INTEREST ON MY MONEY. TYPICALLY NOBODY READS THE TERMS ANYWAY!

Synchrony Does Not Support Quicken

Posted by: ptbreeze | Jul 29, 2014

For me, the web connect feature in Quicken is essential. Before attempting to open several accounts with Synchrony, I contacted them, as I had seen something negative in an Intuit forum. Customer Support confirmed that they do not support Quicken:

Hello and thank you for contacting Synchrony Bank.

Although we recognize the benefits of Quicken, we are no longer supporting the use of this application to view your Synchrony Bank account(s). We apologize for any inconvenience this may cause.

Worst Bunch Of Incompetents EVER

I have sizable deposits with 6 or 7 online banks. I have never experienced the problems I had with trying to set up an account with Synchrony. I literally spend 90 minutes on the phone over 3 different calls with people who had nothing to give but one lame excuse after another. The last call I just gave up. Now I know the answer to the question "why do they have to offer a bit more interest to attract customers?" Answer: Because nobody in their right mind would go through this for 5 basis points of yield. Do yourself a favor and go elsewhere.

Worst Online Bank Ever!

Posted by: mfullmer | Jul 21, 2014

$50k) out!!!! Everything we do they have a problem with. Can't link accounts to it, they deny withdrawals through other accounts. We have literally spent over 2 hours on the phone with them and are no where.

Unable To Close Account

Posted by: Bob Semel | Jul 15, 2014

Unable to close out CD at maturity. They were informed to redeem at maturity, but have renewed the CD instead. Customer Service is brain dead. Apparently, they are able to pay higher rates because of their underpaid and understaffed workforce.

Great Bank Easy To Open Account Good Service

Posted by: oldfar | Jun 19, 2014

I do not understand the complaints in these reviews. Have 2 accounts. Opened the 2nd today in almost no time. First was easy also. Interest rates are great compared to other online banks and customer service is exceptional. the account opened today is a Trust account and these usually take a lot of paperwork and time to open. Did it all in less than 10 min on the phone. Could not be more pleased.

Horrible Experience Trying To Open Account

One of the worst online banks I've ever dealt with. Trying to open up an account for my mother in law who has Alzheimers. We have full power of attorney. We have filled out all their paperwork more than once, called multiple times and they refuse to give us information on the status of opening the account. They always say they will send a letter in the mail, but never do.

Customer Service

Posted by: lof | Jun 6, 2014

Just opened a 5 year cd, everything was completed over the phone. Very easy process, the rep. was very helpful.

Five Days After Opening, And I'm Closing The Account

I opened this account last Wednesday. It's now Monday, 5 days later, and I'm closing it. I have had many online accounts over the years, but this experience has been the worst.

** Time-wasting phone call: At the end of the online application, I was told that there was a problem, and I needed to call Customer Service. After speaking with a tech, the CSR said the tech could find nothing wrong and issued an account number immediately.

** Time-wasting activity: When I created my application, the site had me choose an ID and password. However, when logging on for the first time, the site made me change my password. The next day, the site made me change my password AGAIN.

** Least helpful CSR response: I sent a message via secured mail about the password problem. I was told 1) not to confuse my passwords with each other, and 2) I had to call in order to get help.

** The final straw: When I called, the CSR asked if I had certain special characters in my password. I said yes, since the instructions require at least one special character. She said some characters had been allowed, then disallowed, then allowed, etc. She said the problem was being fixed, "as we speak." There were no instructions on the site explaining any of this, and my password was always accepted as valid. This password issue spanned several days. I don't know what their definition of "fixed" is, but I don't agree with it.

** Just to increase the irritation factor: You need TWO logins for 1) the main site and 2) secure mail. What??!!??

Given all of this, I must conclude that this online bank is not ready for prime time. If they can't get the application and login processes correct, then what else are they getting wrong? I am a programmer by trade, and this whole experience convinced me that they have an immature product. I am not trusting my money to them, and I would advise you to think carefully about trusting yours.

Easy To Deal With.

Posted by: kiwi | Apr 1, 2014

Transferred Regular IRA and Roth last year. The transition went very well. The people were very helpful. Excellent rates at the time.

1.1% 13 Mo CD Special

Posted by: Sperry8 | Mar 13, 2014

Found an unadvertised special (not listed on their website) https://myoptimizerplus.com/banking/promotions/promo0214_13monthcd?gemid1=xp1