Download Synchrony Bank App For Android
Kecia Rothgaber
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Like most banks, Synchrony limits you to six transfers or withdrawals from your savings account per month. Withdrawals you make from ATM machines do not count toward this limit, but cash-back transactions at retailers do.
Synchrony Bank offers flexible options for accessing the money in your savings or money market accounts: Both the high-yield savings account and MMA offer an optional ATM card, and the money market account also comes with checks. Not every bank offers an ATM card for savings accounts or check-writing abilities for a money market account.
Synchrony Bank is not a full-service bank, but if you want high yields on your savings and flexible access to funds in a savings account or money market account, this online bank may be right for you.
Synchrony and Marcus are reputable online banks with great rates on savings accounts, but both fall short on checking account offerings. Synchrony Bank lets you add a debit card to your savings or money market account, while Marcus does not. At the time of writing, the Marcus high-yield savings account offers 4.50% APY, and the Synchrony equivalent offers 4.75% APY.
The top selling point for banking with Synchrony is the high-yield rates. However, there are no physical branches. Luckily, there are plenty of ways to access accounts or get in touch with a bank representative. The mobile app and website are available 24 hours a day to provide account information and process transactions. Customer service is available through phone or live chat.
To determine rankings for the Best Online Bank and Neobank Savings Accounts, GOBankingRates looked at the following factors from all online banks and neobanks: (1) total assets as sourced from the FDIC; (2) minimum deposit to open an account; (3) monthly savings fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (4) minimum balance needed in account to earn APY; (5) savings APY; and (6) the average mobile app rating between the Android and Apple app stores. All factors were then scored and combined, with the lowest score being best. Factor (1) was weighted 0.5 times, factor (4) was weighed 1.5 times and factor (5) was weighted 3 times.
Mobile banking apps have advanced significantly. Mobile check deposit was formerly thought to be cutting-edge technology. Consumers have come to expect this type of capability, as well as seamless money transfers, ATM locators, bill pay, and other features. Some apps now allow you to track accounts from different financial institutions.
In addition, if the bank determines suspicious activity, it will contact you to verify transaction activity. Also, if you inform Bank of America within 60 days of the transaction first appearing on your statement, you will not be held liable for fraudulent mobile banking activities.
Users benefit from competitive APY rates on CDs, high-yield savings accounts, and money market accounts, all of which include ATM cards as an option. The bank has no minimum balance requirement for its savings or money market accounts. ATMs in the MoneyPass and Co-op networks are fee-free.
Yes. Banking applications may be safer than online banking because they do not save any data. Unlike your browser, well-designed apps provide built-in security and do not save your personal information on your device. Furthermore, banking apps encrypt your data before it leaves your smartphone, so you can be confident that banking apps are secure.
However, mobile banking is not without risk. Fakes can appear in app stores, and malware that targets mobile phones exists. We recommend that you only download banking apps from official app stores and keep your software up to date.
Mobile banking applications are rapidly developing, and you can expect that consumer demand will dictate its development. You should also expect tech-focused banks to make significant investments in upgrading their products. But, with so many options available, you must ask yourself what you truly want from a banking app.
Serving members in Dane, Green, Jefferson, Kenosha, Milwaukee, Ozaukee, Racine, Rock, Walworth, Washington, and Waukesha Counties with checking accounts, savings accounts, auto loans, mortgages, personal loans, credit cards, and more banking products and services.
The best banking apps have easy-to-use interfaces that make it easy to manage your account. With just a few taps, you should be able to view your account balances, deposit checks, and contact customer support. With some apps, you can also do things like see your balance without logging in or track your credit score.
Bank of America is an excellent national banking option for avid mobile users. The brick-and-mortar bank ranks highest in banking mobile app satisfaction, according to a 2023 J.D. Power Online Banking Satisfaction Study.
Keep in mind Bank of America checking and savings accounts have monthly service fees unless you meet certain requirements. If you want bank accounts that do not charge any monthly service fees the best online banks may be more appealing for you.
The Capital One mobile app is rated the second highest in mobile app customer satisfaction among national banks, according to a 2023 JD Power Online Banking Satisfaction Study. You can use the bank's app to deposit checks, track your credit score, or monitor your bank account.
The Chase mobile app allows you to set up automatic savings transfers and create folders for separate savings goals, like "Vacation Fund" or "College Savings." The mobile app is rated highly in customer satisfaction among national banks, according to a 2023 JD Power Online Banking Satisfaction Study.
While Chase offers strong mobile banking, you'll need to be mindful of monthly service fees. Most of the accounts have ways to waive fees, but if you would prefer a fee-free bank account you might prefer another bank.
Huntington ranks No. 1 in customer satisfaction for a regional bank in the J.D. Power 2023 US Banking Mobile App Satisfaction Study. You can view your account balances without logging in and use the Huntington Heads Up feature to alert you if there is suspicious activity on your account or if you're close to overdrawing. The app also has mobile check deposit and helps you find nearby ATM and branch locations.
"I think it's important for a mobile banking app to have mobile check deposit and features that help you understand your spending. Maybe there's a feature that can help you save for specific goals or track your cash flow."
To choose our favorite banking apps, we only looked at apps with at least 5,000 reviews in both the Apple and Google Play stores. Then we narrowed it down to apps with strong average ratings in both stores.
Our top picks have competitive products that set them apart from other institutions. For example, a bank may pay high interest rates, have tools to help you save money, or offer early direct deposit. Where applicable, we also looked at customer satisfaction ratings on J.D. Power surveys.
While Synchrony Bank is mostly known as an issuer of co-branded store credit cards for retailers like Crate & Barrel, Lowe's, Mattress Firm and Sam's Club, its online banking products are worth checking out. That said, it's worth noting that Synchrony Bank does not offer a checking account. This means its banking options are geared toward consumers who are looking for ways to save for the short-term or long-term instead.
Even though Synchrony does not offer online checking, the bank's online savings account comes with a debit card that allows fee-free ATM access through its network of 60,000 ATMs. Synchrony Bank will also refund domestic ATM fees charged by other financial institutions, up to a maximum of $5 per statement cycle.
A major benefit of Synchrony Bank CDs is the fact they don't have a minimum deposit requirement, whereas many other online banks require you to deposit a minimum of $500 or more if you want to open a certificate of deposit (CD).
At the moment, the Synchrony Bank money market account offers a 2.25% APY with no minimum balance requirement. This account also comes with a debit card that lets you access your funds via a network of more than 60,000 ATMs. Like with the Synchrony Bank savings account, the bank will refund ATM fees charged by other financial institutions, up to a maximum of $5 per statement cycle.
Synchrony Bank limits its fees dramatically, although some fees can still apply for their savings products in certain situations. Here's a rundown of typical banking fees that could be charged, if and when they apply and how much Synchrony Bank fees cost.
Customer satisfaction rankings for Synchrony Bank aren't that impressive. In fact, the bank came in 12th place in the savings category among 13 nationally rated direct banks in J.D. Power's 2023 U.S. Direct Banking Satisfaction Study.
Synchrony Bank scored 676 out of 1,000 possible points in the study, which ranked institutions based on factors like customer service, ease of moving money, savings potential, level of trust, managing accounts via a mobile app, online account management and reducing banking fees. Consider that the average score for this segment of the study came in at 718, and that highly-rated banks like Discover and Marcus by Goldman Sachs earned 748 and 736 points, respectively.
Synchrony Bank offers several ways to contact them, including an online chat feature on the company website. Customers can call the bank at 1-866-226-5638 to speak with a live agent Mon-Fri 8 a.m. to 10 p.m. ET and Sat-Sun 8 a.m. to 5 p.m. ET. Mail correspondence with Synchrony is also offered at the following address:
Synchrony Bank has its own highly-rated mobile app, which boasts an average rating of 4.8 out of 5 stars in the App Store and 4.6 out of 5 stars on Google Play. The MySynchrony Mobile App offers a range of features that can make banking safer and more convenient. For example, the mobile app lets you:
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