How the Synchrony Bank Savings Account Stacks Up Then choose a timeline, and see what you can earn. Add the current interest rate, 4.50% APY, and your planned monthly contributions. To see how much you can earn with the current Synchrony Bank savings account rate, plug your initial deposit amount into a savings calculator. While Synchrony’s High Yield Savings rate isn’t necessarily going to outperform your investments, you can earn a decent amount-especially when compared to traditional savings accounts. How Much Can You Earn With a Synchrony Bank Savings Account? If needed, you can chat online anytime or speak with a customer service representative over the phone Monday through Friday from 8 a.m. The app has moderate ratings on Google Play and high ratings on the App Store.

While the accessibility of an online savings account may be a concern for some customers, Synchrony Bank’s mobile app, MySynchrony, allows you to manage your account from anywhere.

But for those who want their savings to be less accessible, keeping these accounts at separate banks can be beneficial. This may be a drawback for those who like the seamless integration between checking and savings you get by opening both these accounts at the same institution. Note that Synchrony doesn’t currently offer a checking account. The Synchrony High Yield Savings account provides an ATM card upon request. But you can access your funds through ATM withdrawal, electronic transfer and wire transfer. Similarly, you can’t head to the bank to withdraw money from your Synchrony High-Yield Savings account.

ACH/electronic transfer from a linked external bank account.

Transfer from another Synchrony account.

You can add money to your Synchrony savings account with the following: But that doesn’t mean there aren’t a variety of convenient ways to fund your account. But Synchrony will reimburse up to $5.00 each statement cycle for out-of-network ATM fees.īecause Synchrony is an online bank, you can’t fund your savings account by heading to a local branch. You may also be charged fees for excessive transactions using transfers, checks or point-of-sale purchases (no more than six permitted per statement cycle) or by a third party for out-of-network ATM charges.

Synchrony bank financing