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Feb 1, 2021 · Synchrony posted net income of $738 million, inching up 1% against Q4 2019 and improving considerably against the sequential third quarter's net earnings of $303 million. Synchrony's bottom...
- Synchrony Bank Review: Standout Online Bank With the Right Perks
Synchrony Bank is a safe place to put your money. Deposits...
- Synchrony Bank Review: Standout Online Bank With the Right Perks
- Pros Explained
- Cons Explained
- Who Is Synchrony Bank Best for?
- What Does Synchrony Bank offer?
- Synchrony Bank Customer Service
- How to Bank with Synchrony Bank
- Methodology
High-yield deposit products with no monthly fees – Synchrony Bank offers a high-yield savings account, a money market account, and certificates of deposit (CDs) with no monthly fees. This means tha...Minimum required deposits to open account as low as $0 – You can open a Synchrony Bank savings account, money market account, or CD with as little as $0.Hundreds of credit cards from popular retailers – Synchrony Bank partners with hundreds of retailers and healthcare providers around the U.S. to offer financing. These finance options provide custo...Limited branch presence – If you want to visit a Synchrony Bank branch to speak to someone in person, your options are limited, as it only has five branch locations. Instead, your best option is to...Does not have its own ATM network – Synchrony Bank partners with Accel to offer fee-free ATMs across the U.S. The bank does not charge to use another bank’s ATM, and it refunds up to $5 charged by...No checking account options – Consumers looking to consolidate all of their accounts with one bank should look elsewhere. Synchrony Bank does not offer checking accounts or other types of lending b...Synchrony Bank is best for consumers who: 1. Don’t want to change their primary checking account 2. Want a high-yield deposit account 3. Don’t need access to physical branches 4. Are interested in the benefits of having a retailer credit card 5. Want to finance healthcare expenses over time
As an online bank, Synchrony Bank offers competitive interest rates on its savings, money market, and CD accounts. The bank also partners with hundreds of retailers to provide co-branded credit cards specific to each retailer. Synchrony Bank has financing for healthcare procedures and purchases available through its CareCreditproduct. It does not o...
To contact customer service, you can connect by phone (1-866-226-5638), online chat, or secure message online. Bank customer service is available by phone or chat Monday through Friday from 8 a.m.–10 p.m. EST and Saturday and Sunday from 8 a.m.–5 p.m. EST. Automated phone service is available 24 hours a day. If you have questions about your credit ...
Most customers bank with Synchrony Bank by opening a deposit account online or a credit card online or in the store. Synchrony Bank has five branches—one each in Georgia, Kansas, New Jersey, North Carolina, and Utah. Opening a bank account online is simple to do and can be completed in a few minutes. Once opened, you can deposit money into it elect...
Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision for their savings and banking needs.
Sep 10, 2024 · Synchrony Bank is not a full-service bank, but if you want high yields on your savings and flexible access to funds in a savings account or money market account, this online bank may be right...
- Ben Gran
- Yes, Synchrony Bank is FDIC insured (FDIC# 27314). The federal government protects your money up to $250,000 per depositor, per account ownership c...
- Synchrony Bank offers several security measures, including 128-bit encryption, 24/7 security monitoring, multifactor authentication for identity ve...
- Synchrony is a reputable bank with a history that can be traced back to 1932. Additionally, the money you deposit in a Synchrony Bank savings accou...
- You can deposit money into your Synchrony Bank account in a few different ways: Transfer from another Synchrony Bank account Electronic transfer fr...
- It depends on the product you’re looking for. Synchrony Bank does not publish a minimum credit score for its banking products. The score needed to...
- You can use your Synchrony Bank ATM card at any ATM or retailer that offers cash back at the point of sale. You can not use the Synchrony Bank ATM...
- Getting approved for a Synchrony Bank account is generally easy—unless you’ve had a troubled banking history. Getting approved for a Synchrony cred...
- Synchrony Bank offers secure installment loans on many types of purchases. However, you can’t apply for the loans yourself—they must be offered by...
Synchrony Bank's money market account stands out because it has paper checks and an ATM card, which give you easy access to your savings. But the interest rate is...
- Henry Blodget
Mar 3, 2024 · Synchrony Financial generates revenue through: Interest Income: Earned from outstanding credit card balances. Merchant Fees: Charged to retail partners for transaction processing and promotional financing. Interchange Fees: Collected from merchants for card transactions.
Sep 17, 2024 · Synchrony Bank is an online-only bank offering high-yield savings, money market and CD accounts for consumers. It issues several credit cards as well, including dozens of co-branded credit...
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Jun 27, 2024 · Synchrony Bank is a safe place to put your money. Deposits are FDIC insured up to $250,000, just like brick-and-mortar banks. Can Synchrony Bank do a wire transfer?
