Synchrony Bank CD Rates

Do not use this bank if you ever intend to send a wire transfer! They advertise that you get three free wire transfers per cycle, but what good is free if they do not complete the transfer? I put in a request for a wire transfer at 2:40 PM on a Wednesday. I missed the 2 :30 PM deadline by 10 minutes, but expected the wire to be completed the next business day (Thursday). The wire still had not been completed by the end of the day Friday in spite of spending most of the day on the phone with them in utter frustration. Gross incompetence and failure to deliver on their promise of one business day. Their excuse is that they were "short staffed." We intended the money for the purchase of a HUD home, which we almost lost due to the ineptness of Synchrony Bank. I canceled the wire transfer order, and placed it with Capitol One Bank - they completed the transfer in 2 hours. That's the bank to choose! The purpose of a wire transfer is speed - don't expect that from Synchrony.

their online system goes down frequently, sometimes for days (EG 11/2/19-11/26/19 and still not up). unable to access your accounts since they are online only. I have banked wtih them off and on for years but this problem does not go away.

I have a high yield savings account with them after trying to find accounts that offer high APY. Decided to go with this account after reading some articles and reviews. BIG MISTAKE.

Currently have a few thousands on the account; I usually manually deposit money into this account so found out one day that my HYS was RESTRICTED. Confused, I used chat support and they said only direct phone support was possible for this issue. Made sense, however this leads me to a wild goose chase that has taken months.

They said my address was invalid although I have received numerous statements to the same address, and placed an immediate restriction on my account without notifying me. They told me I had to either fax or physically mail my lease agreement to verify my address. They provided me with ZERO updates, I had to regularly sign in online to check that status of my account. I CAN RECEIVE ZERO EMAIL NOTIFICATIONS OF MY STATUS OR EMAIL THEM MY LEASE AGREEMENT.

They only accept fax or mail??

It's been 5 months. They have continuously told me that they have not received my faxed documents. I tried calling to close the account, and they told me while on the phone that they had successfully closed the account. 3 business days later, my account was NOT closed and I had called them. They said I had to remove the restriction on my account.

I have called them every other day requesting status of my account. I just want my money back. I just want to use a different bank. They recently denied me access to their online portal and I had to re-verify my identity. They are REFUSING TO WORK WITH ME TO GIVE ME BACK MY MONEY.

HORRIBLE. SERVICE. EVER.

I had been waiting on hold for well over a half hour to try to contact them by phone. it is now 2:30 in the afternoon and a recording just came on saying they are now closed and to try back at their regular 9AM - 10PM??????? Then I was disconnected!! Do not open an account if you think you'll ever want to talk to them. Taki9ng all my money to Ally bank.

This is the worst bank I have ever dealt with. I chose them because of the high interest rate on a savings account. I moved shortly after I opened the account and needed to change the address on it. They restricted access to my account until I could either snail mail or fax them a document proving the change of address. After about 30 minutes on hold they gave me a fax number. I sent the fax the next day and waited a few business days but my account was still restricted. I called and again was on hold for about 30 minutes when they said they never received the fax and gave me a different fax number to send it to. The restriction was removed for two days and then spontaneously reappeared. When I called about it they said they never received the fax, despite the fact that the restriction was removed last week and I was able to make a transfer. My money has been held up in this account for about 3 weeks now and as soon as the restriction is re-removed I'm going to transfer all the money out and close the account. Do not use this bank!

I tried to roll over an IRA to Synchrony. Staff were unfriendly, unhelpful and generally incompetent. Before they could process my request, IRA rolled over. I snail mailed a request (addressed to Pres/CEO) to cancel account in process (certified, return receipt). Someone called to apologize about poor service. I continue to receive statements - with a $0 balance. It's only a matter of time before Synchrony starts charging "management" fee on this non-existent account. Be very careful doing business with this bank.

They are going to lose our business as well. We have a fairly large portfolio of CD's (6 figures) and a HYS account. We have a family emergency and needed to redeem a 15 month CD that we had rolled over a couple of times. I expected a penalty but wow, 6 months of interest??!! 3 months for a CD of 12 months, but 6 months of penalty for 15 months??!! I called and asked that .. 1) since it is a roll over CD and has been rolled over a few times, and 2) since we have a large portfolio, and 3) since the CD was only 3 months longer in term than a 12 month CD with a much lesser penalty and 4) since this was a family medical emergency could they see their way to either waiving the penalty or reducing it to the 3 month penalty. On hold for 10 minutes while she asked and when she came back, NO! We will be be changing banks as our CD's mature since other banks are showing comparable rates now

Tried to set up a savings account and called their call center to finish setting things up, the first lady hung up on me after putting me on hold for a few minutes. Called again a few minutes later and got a different lady who hung up on me after putting me on hold again. Called a third, fourth and fifth time, and got a "this number is unavailable" message. So I called their main number, a guy named Brad helped me cancel the account (thanks buddy you may be the only decent employee in this place). They can't even hold on to a phone call, no one this unprofessional is holding my money.

I requested a wire and confirmed a few hours later it would be sent that day. It was not sent and they provided no notification that they did not send it as promised. When I saw the money was not deducted from my account I called to ask why. They could not tell me why the wire was not sent, but they offered to send it 4 days later. Easy to make deposits,much harder to withdraw your money!

Synchrony Bank is the worst banking experience I have every had. It took several months to do an IRA transfer. They kept sending the same paperwork over and over again, and they even "lost" the check that was sent from another instutition and I had to put a stop on the original check and have another reissued. When my CD matures I will not be using them again no matter what interest rate they offer!