What it does
Synchrony Bank offers online savings, money market accounts and certificates of deposit. High Yield Savings has no monthly fee or minimum balance and can include an optional ATM card.
Synchrony’s High Yield Savings account combines online transfers with optional ATM access. The bank charges no ATM fee and refunds up to $5 of domestic operator fees per statement cycle. Overseas conversion and transaction charges are not refunded. Outgoing wire transfers cost $25.
To deposit a check in the app, open the deposit tab, select the account and photograph both sides of the endorsed check. The published limit is $2,000 per account per day. High Yield Savings does not provide checks for making payments.
A CD instead holds money for a term. Early withdrawal can incur a penalty, and renewal at maturity uses the rate then offered. The savings rate can change.
For an ordinary individual account, Synchrony’s agreement requires a U.S. person for federal tax purposes who is at least 18, with a valid Social Security number, U.S. phone number and qualifying address. Special ownership arrangements have exceptions. Choose Open account and prepare identifying details for verification.
Strengths
- High Yield Savings has no monthly fee or minimum balance.
- An optional ATM card provides direct access to savings.
Watch out for
- Mobile check deposits are limited to $2,000 per account per day.
- CD withdrawals before maturity can incur a penalty.
Best for
- Eligible U.S. savers who want optional ATM access
- People comparing accessible savings with a fixed CD term
Sources
- Synchrony Bank: Online Banking, High Yield Savings, and CDs (Oct 25, 2026)
- High Yield Savings Accounts (Oct 27, 2026)
- Synchrony Bank Account Agreement and Disclosures, within trust application packet (Oct 27, 2026)