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 tried to open an account but was denied because they couldn't verify my identity as required by the Patriot Act. They didn't try very hard as I was able to open accounts at 3 other institutions. It worked out well for me so I guess I should thank them for their incompetence.
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!
DO NOT BANK AT SYNCHRONY BANK. BEWARE !!!I was very ANGRY AND disappointed with Synchrony Bank. I had 3 savings account and I was not allowed to take out my money when I needed it. They say there is a limit to how much a customer can take out by ACH. I went to the limit on one account and then they refused to allow me to withdraw any from another account unless I paid for a cashier's check which would take days in the mail. Yet this is supposed to be an online Bank !! Synchrony Bank is scary that even after I spoke to 2 higher level supervisors and threatened to close my account, she said she was the highest level at the time and she could not let me get another ACH. So I closed my account and then she was able to ACH my account balance. Please do not use this bank . Not sure your money is safe.
No, you can make withdrawals online, over the phone or with an ATM card. Please note that if you are planning to withdraw a large sum of money you should notify the bank 7 days in advance. To withdraw the funds online you will need to log into your account here: https://securelogin.synchronybank.com/myaccount/loginUserActionGetOnly. You can also call customer service at 866-226-5638 and ask that they transfer the funds to your bank account. It typically takes between 2 to 5 business day for the funds to become available.
The interest rate is compounded daily.
Yes, you can.
There is no minimum deposit to open a checking account. There is a monthly service fee of $5, which you can avoid by maintaining a minimum average daily balance of $30. There is no minimum deposit to open a checking account. There is a monthly service fee of $5, which you can avoid by maintaining a minimum average daily balance of $30.
You can call the number on the back of your card to close your account. However, please note that closing the account will probably have a negative effect on your credit score. It’s always a good strategy to keep your oldest account open, even if you don’t necessarily use it.
Yes. Please visit the following link to open the account: https://www.synchronybank.com/banking/high-yield-savings/.
You can manage your CD online by registering here: https://securelogin.synchronybank.com/SynchronyFinancial/as/registerUserActionGetOnly. When using the online application, you can transfer the funds from your CD to another account. You can also request a wire transfer by calling Synchrony Bank at 866-226-5638. Please note that if you withdraw the money before maturity, you will be charged a penalty fee. You can find more details here: https://www.synchronybank.com/banking/cd/.
For account ownership information, please refer to the bank’s customer service at 1-866-226-5638.
In the event that in a given week, for this product, there were multiple applicable rates in our database based on different criteria, the above graph reflects the lowest interest rate recorded. Before submitting an application, always verify with the issuing institution (i.e. bank, credit union, other lender) the rates, fees, and all terms and conditions accompanying the application.