Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC will update as changes are made public.
While online high-yield savings accounts (HYSA) offer better returns, it's usually harder to access your cash than with a brick-and-mortar institution.
But Synchrony Bank's HYSA comes with an ATM card and unlimited transactions, earning it a spot on CNBC Select's top HYSA list.
Synchrony Bank High Yield Savings
Annual Percentage Yield (APY)
3.50% APY
Minimum balance
None
Monthly fee
None
Maximum transactions
Up to 6 free withdrawals or transfers per statement cycle
Excessive transactions fee
None
Overdraft fee
None
Offer checking account?
No
Offer ATM card?
Yes
Terms apply.
Pros
- Strong APY
- No minimum balance or deposit
- No monthly fees
- Easy ATM access
Cons
- No option to add a checking account
Synchrony Bank High-Yield Savings review
APY
Synchrony Bank High-Yield Savings account's current APY is 3.50%. Interest compounds daily, with no minimum balance requirement or cap on how much money can earn the high-yield rate.
Cash access
Make unlimited withdrawals with a Synchrony Bank ATM card, up to $1,000 per day. Account holders can access 400,000+ fee-free ATMs on the Visa Plus and Accel networks and get up to $5 per statement cycle in reimbursements for fees charged by out-of-network operators.
You can also make up to three wire transfers per statement cycle or withdraw cash at the bank's lone physical branch in Bridgewater, New Jersey.
To deposit funds, you can make an electronic transfer from an external bank, set up direct deposit, mail a check or use the mobile app to deposit a check.
Perks
Synchrony Bank customers have access to complimentary identity theft assistance, travel discounts and free webinars. Customer service is available 24/7 by phone or online chat.
Fees
There is no monthly fee or minimum balance requirement for the Synchrony Bank High-Yield Savings account.
Synchrony doesn't charge ATM fees and will refund out-of-network ATM fees up to $5 per statement cycle.
Bottom line
Synchrony Bank High-Yield Savings is for savers who want a safe place to stash cash that earns competitive rates while still being accessible. You don't need a checking account to make unlimited transactions at its large network of ATMs.
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At CNBC Select, our mission is to deliver high-quality service journalism and comprehensive consumer advice to our readers, enabling them to make informed financial decisions. Every personal finance article is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content independently of our commercial team and any outside third parties, and we pride ourselves on maintaining high journalistic standards and ethics.
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Information about the Synchrony Bank High Yield Savings Account has been collected independently by CNBC and has not been reviewed or provided by the bank prior to publication.
