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Synchrony High Yield Savings account review

Earn 1.8% APY on an online account that comes with ATM access.’s rating: 4.9 / 5.0


The Synchrony High Yield Savings account gives you a safe place to store your hard-earned cash, plus it comes with an optional ATM card so you can access your money. But if you were hoping to keep your savings and checking within the same bank, you’ll want to consider a different account.






Minimum deposit to open


Annual percentage yield (APY)1.80%
Minimum deposit to open$0
Minimum balance to earn interest$0
Interest compoundingDaily
Monthly transaction limit6
Fee per transaction over the limit$0

Review by

Peter Carleton is a writer that covers banking and investing, breaking down what you need to know about where you put your money. When Peter's not thinking about cutting-edge banking apps and robo-advisors, he runs a creative agency and spends his spare time cooking or reading.

Expert review

The Synchrony High Yield Savings account offers a competitive 1.8% APY, no fees and access to ATM withdrawals. However, there are few other perks and no integration with a checking account. If you’re looking for a simple, standalone savings solution, this might be the account for you. But if you want to keep all of your money with one bank, consider Axos, Chime or Discover, which each offer a comparable interest rate with integrated checking accounts.

Before committing your money to an account, compare savings accounts to find the best one you’re eligible for.

How do I open a Synchrony High Yield Savings account

You can open a Synchrony High Yield Savings account by following these steps.

  1. Go to the provider’s site and follow the steps to apply.
  2. Select the navigation menu on Synchrony’s website, then Savings, then High yield savings, then Start saving now.
  3. Select Yes, open a Synchrony Bank account if this is your first Synchrony account.
  4. Enter your personal information, citizenship, employment details and security question, selecting Next step when applicable.
  5. Choose High yield savings and select either an individual or joint account. Then designate a funding source.
  6. Confirm your personal details and select Next step, then review and agree to the terms and conditions.
  7. Create a username and password, then enter the details related to your funding source.
  8. Make your initial deposit of any amount.

Eligibility requirements

To open a Synchrony online savings account, you must meet the following requirements:

  • US citizen
  • US residence
  • Valid SSN or tax ID number
  • US driver’s license, state ID or military ID

Required information

To open a Synchrony savings account, you’ll submit your:

  • Full name and contact information
  • Date of birth and Social Security number
  • Driver’s license or state ID number
  • Bank account details for your external funding account

What are the benefits of a Synchrony High Yield Savings savings account?

All Synchrony Bank savings accounts are FDIC insured for up to $250,000 and are accessible online, over the phone or at an ATM. You can easily manage your balance and set up same-day payments, future payments or autopay online. And a flexible app helps you deposit checks from your mobile phone.

  • Competitive interest rate. This account earns 1.8% APY, which is a better rate than many other banks offer.
  • No fees. Pay no associated maintenance fees, keeping more of your money in your account.
  • Free ATM card. When you open an account, you can choose to receive a Synchrony ATM card. Synchrony will also refund up to $5 in out-of-network ATM fees each statement period.

What should I look out for?

Synchrony High Yield Savings account offers several ways to save, but watch out for potential drawbacks that include:
  • No branches. Synchrony Bank only exists on the internet, so you can’t meet with a banker in person. To speak with a Synchrony support specialist, call 866-226-5638.
  • No integrated checking. Synchrony offers savings and credit accounts but no checking accounts, so you can’t use this bank as an all-in-one solution.

Compare Synchrony High Yield Savings to similar accounts

We gathered a quick comparison of similar accounts to help you decide if Synchrony High Yield Savings is right for you. For more options, select Compare accounts to compare even more savings accounts.

Synchrony High Yield Savings

American Express® High Yield Savings Account


Finder rating 4.9 / 5


Finder rating 4.6 / 5

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on American Express's secure site









Minimum deposit to open


Minimum deposit to open


Minimum balance to earn interest


Minimum balance to earn interest


Synchrony’s ATM network and fees

When you open a Synchrony High Yield Savings account, you can choose to receive an ATM card linked to the account. You can use your Synchrony ATM card at any ATM with the Plus or Accel logos.

If you use an ATM outside of that network, Synchrony Bank won’t impose any fees, but the owner of the ATM might. However, during each statement cycle, Synchrony will refund up to $5 in domestic ATM fees charged by other financial institutions. You can receive unlimited domestic ATM fee refunds if you attain Platinum status in Synchrony’s Perks rewards program, which requires a $250,000 account balance.

How do I deposit or withdraw money?

Although Synchrony Bank doesn’t have any brick-and-mortar branches, it offers flexible ways to access your money.


  • Eligible ATM
  • Mail
  • Direct deposit
  • Internal transfer from another Synchrony account
  • Electronic funds transfer from a registered external account
  • Mobile check deposit
  • Wire transfer


  • Eligible ATM or point of sale
  • Transfer to an external bank account by phone or online
  • Wire transfer
  • Request a check

How do I get in touch with Synchrony’s customer service?

If you need assistance, reach out by:

  • Starting an online chat on the website.
  • Calling 866-226-5638.
  • Sending mail to Synchrony Bank, PO Box 105972, Atlanta, GA 30348-5972.

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