Synovus Bank Review 2024
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
Synovus Bank is an attractive option for consumers who prefer in-person banking and live near a branch in one of the five Southeastern states where branches are located. It’s not the best option for consumers seeking top-tier rates. While Synovus offers digital banking tools, accounts can’t be opened online by those who aren’t residents of a state where there are branches.
Highlights
- Low Min Deposit
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Overall
Established in 1888, Synovus is a full-service bank that offers deposit products, loans and financial planning and investing services. Most of the bank’s accounts require low minimum deposits, but rates are much lower than what other banks are offering.
Pros
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It’s a good fit for customers in the Southeast who like a combination of branch and digital banking.
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It offers a wide selection of CD terms, enabling savers to build a CD ladder.
Cons
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It has branches in only five states: Georgia, Florida, Alabama, Tennessee, South Carolina.
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The ATM network is geographically limited to the Southeast.
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You can find higher yields at other banks.
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There is limited information about CDs on the bank’s website.
Synovus Bank banking products
Synovus Bank savings overview
There is a $5 monthly fee unless you maintain a $200 "relationship" balance across all of your Synovus deposit and investment accounts. The account comes with digital banking options, such as online bill payment.
Pros
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The opening deposit for Personal Savings is fairly low.
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Account holders have access to online bill pay and other digital banking features.
Cons
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APYs are low; many online banks offer far better rates.
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There is a $5 monthly service charge unless you keep a combined $200 "relationship" balance across Personal Savings and other Synovus deposit and investment accounts.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
Synovus BankAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank fees
| Fee | Charged |
|---|---|
| Overdraft fee | $36 |
| Non-sufficient funds fee | $0 |
| Monthly maintenance fee | $10 for Plus Checking; waived if requirements are met. |
| Out-of-network ATM fee | $2.50 |
| Excessive transaction fee | $5 |
Customer experience
Customer support
Branch availability: Synovus maintains branches in five states: Alabama, Georgia, Florida, South Carolina and Tennessee. The bank offers fee-free transactions at its Synovus ATMs and at Publix Presto! ATMs.
Customer service: Synovus offers phone support in both English and Spanish through its toll-free number. Customers can also call their local branch for support.
Digital experience
Synovus Bank offers a mobile banking app that’s rated highly by iOS and Android users. It allows you to deposit checks, pay bills, transfer money between accounts, view account balances and locate Synovus branches and ATMs.
How Synovus Bank compares to other banks
Synovus Bank vs. Capital One Bank
Both Synovus Bank and Capital One offer branches in a handful of states. Capital One accounts can be opened online by residents anywhere in the U.S., whereas Synovus accounts can’t be opened online if you don’t live in the states where it maintains branches.
Capital One doesn’t charge monthly maintenance fees for its accounts, while Synovus charges fees that often require significant balances to waive. Both offer a range of deposit accounts, although Capital One doesn’t offer money market accounts to new customers. Capital One’s accounts earn competitive yields, while Synovus’ savings account earns a low balance and its money market earns an above-average balance with a tiered rate.
About Synovus Bank
Based in Columbus, Georgia, Synovus is a full-service financial company that offers personal, business and corporate banking products and services throughout the Southeast. It has 253 branches in Georgia, Florida, Alabama, Tennessee and South Carolina. It provides loans and deposit products, investment services, financial planning and wealth management.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
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