Synchrony Bank Review 2023

Are you looking for a reliable and secure bank account? You may want to consider Synchrony Bank. Synchrony Bank is an online financial institution that offers a variety of services, including checking and savings accounts, CD accounts, credit cards, and more. In this review, we’ll take a closer look at Synchrony Bank and answer the most important questions you may have about its products and services. So read on to learn more about what makes Synchrony Bank such an attractive choice for your money in 2023.

What is Synchrony Bank?

Synchrony Bank is an online bank that offers a suite of financial products, including savings and checking accounts, money market accounts, CDs, and credit cards. Synchrony Bank is a division of Synchrony Financial, a leading provider of consumer financial services.

Synchrony Bank offers a variety of savings account options, including traditional savings accounts, money market accounts, and CDs. The bank also offers a suite of checking account options, including online checking and mobile check deposit. For those looking to build or repair their credit, Synchrony Bank offers a variety of credit card options. And for those who want to invest in their future, Synchrony Bank offers an IRA option.

Whether you’re looking for a simple savings account or a comprehensive suite of financial products, Synchrony Bank has you covered.

Interest Rates

When it comes to interest rates, Synchrony Bank is pretty middle of the road. Their interest rates are comparable to what you would find at a brick-and-mortar bank. However, where they lack in interest rates, they make up for in perks. For example, their online savings account offers a sign-up bonus and no monthly fees. And, their CD rates are some of the best in the industry.


Synchrony Bank offers a variety of fee-free checking and savings products, as well as several credit products with no annual fee. However, there are some fees associated with certain account types and services. For example, there is a $5 monthly fee for the Platinum Mastercard, but this can be waived if you maintain a balance of $5,000 or more. There is also a $35 overdraft fee for each item that exceeds your account balance, and a $7 NSF fee for each returned check or ACH transaction. Synchrony Bank does not charge foreign transaction fees on any of its credit products.

Pros and Cons

There are a few key things to consider before signing up for a Synchrony Bank credit card. Weighing the pros and cons can help you decide if this bank is right for you.

-No annual fee
-0% intro APR period on select purchases and balance transfers
-Good rewards program
-Generous sign-up bonus

-Relatively high APR after intro period ends
-Fewer branches than some other banks
-Must have good credit to qualify

How to Open an Account

To open an account with Synchrony Bank, you’ll need to provide some personal information and choose the account type that best suits your needs. You can open an account online, over the phone, or in person at a branch location.

When you open an account with Synchrony Bank, you’ll be able to take advantage of features like online and mobile banking, bill pay, and more. You’ll also be able to choose from a variety of account types, including savings accounts, checking accounts, and certificates of deposit.

To get started, you’ll need to provide some personal information, such as your name, address, and date of birth. You’ll also need to choose a username and password for your online banking access. Once you’ve provided all of the required information, you can open your account online, over the phone, or in person at a branch location.


All in all, Synchrony Bank is a great choice when it comes to online banking. They offer competitive interest rates and have an easy-to-use interface that makes managing your finances much easier. Their customer service team is also available 24/7 for any questions or concerns you may have. With their wide range of services, from credit cards to savings accounts, Synchrony Bank offers something for everyone looking to simplify their financial life.

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