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4 Customer Reviews - see all comments
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Synchrony Bank, a subsidiary of Synchrony Financial, provides online banking services and digital financial solutions for consumers. Synchrony's products include certificates of deposit (CDs), high yield savings and money market accounts, and store branded cards. Founded in 2003, Synchrony is based in Stamford, Connecticut and has an A+ with the BBB.
- 1.21% high-yield CD, 7.1X higher than national average.
- Bank with purpose: your deposit helps us keep investing in underserved communities hard hit by the Covid crisis.
- No fees.
- FDIC insured.
Latest Synchrony Bank Reviews
I have had numerous cd accounts with them over the last 10 years and I have never had a problem with anything.
They aren't the first to start paying higher interest rates as the Fed kept increasing their rates, but usually they get closer in a few weeks.
As a longtime customer I get a little higher rate than new customers. I received an email from them yesterday informing me of their 14-month CD special at 5.70%. I will be taking advantage of that. It ends 12-04-2023. New customers receive 5.65%.
No phone number answers, no chat available, message just gives a standard response to call the phone number. After three calls and over an hour wait, I got a supervisor who said she would close my accounts and cancel transfers. She gave me an extension. No accounts are canceled and transfers were not blocked. I called back and entered the extension. I get in a loop-- doesn't take the extension, just keep asking for it. I have never seen such a noncommunicative legitimate company. I got an error online twice and was told to retry. Each time a CD was created. On the third time I was successful and saw I had 3 CDs instead of one. So website errors too. I tried to send five... Read More
CD Rates are competitive and service is good - until you choose not to renew for another term.
There is no way to cancel the automatic renewal online so you must call the (866) number. First, you wade through the menus and call waiting. Then the service person will ask you to verify every bit of information they have on file for you, including sending a text to "verify" that you are you.
All seems a ploy to make non-renewal difficult as possible, hoping you'll give up and let Synchrony keep your money.
Takes more than a week to withdraw fund from online
Synchrony bank accounts. Cannot depend on their withdrawal policies it takes too long to get your money back when you need it.