Synovus Bank Review 2022
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
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.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Also, there is scant information on its website about CD products. You must visit a branch, call or email to get rate information, and there is a wider selection of CD products available at branches than there is online.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
A $100 deposit is required to open the account. There is a $10 monthly service fee unless a $2,500 balance is maintained. The account comes with access to digital banking access, and notary services are free.
Free Checking requires $100 to open and there is no monthly service fee, regardless of the balance. Account holders have access to online and digital banking tools that allow them to monitor and manage the account 24/7 from anywhere. ATM usage could become costly if you're not in a state with Synovus branches or Publix grocery stores Presto! ATMs. An out-of-network ATM balance inquiry, transfer or withdrawal will cost $2.50 a pop.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
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. .
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. Synovus BankSynovus Bank Review 2022
Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
3.4 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
Synovus is an FDIC-insured bank that is an attractive option for consumers looking for a full menu of personal banking products, including checking, savings and money market accounts, CDs, health savings accounts, credit cards, mortgages, and financial planning and investment services. Although it serves primarily the Southeast, its digital banking tools expand its reach beyond its five-state branch footprint.Highlights
Low Min Deposit Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info 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. Info 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. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.00 % APY Info 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. Info 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. Min. balance for APY Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. Member FDIC Savings Account 3.60 % APY Info 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. Info 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. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY.Overall
Established in 1888, Synovus is a full-service bank that offers deposit products, loans and financial planning and investing services.Pros
It’s a good fit for customers in the Southeast who like a combination of branch and digital banking. It offers a wide selection of CD terms, enabling savers to build a CD ladder.Cons
It has branches in only five states: Georgia, Florida, Alabama, Tennessee, South Carolina. The ATM network is geographically limited to the Southeast. You can find higher yields at other banks.Synovus Bank bank products
Savings CD Money Market Checking 2.2 Bankrate ScoreSynovus Bank savings overview
Synovus offers three savings accounts, but for this review Bankrate focused on the Personal Savings account. The interest-bearing account requires only $100 to open. Rates are not competitive. Much higher yields can be found at other banks, especially online banks.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
The opening deposit for Personal Savings is fairly low. Account holders have access to online bill pay and other digital banking features.Cons
APYs are low; many online banks offer far better rates. 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. You get two free withdrawals/transfers a month, then there is a $3 fee per occurrence. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.00 % APY Info 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. Min balance for APY Offer details Offer detailsCapital One
Member FDIC Savings Account Details 3.00 % APY Min balance for APY It only takes about 5 minutes to open a fee-free account. 2.5 Bankrate ScoreSynovus Bank CD overview
Synovus offers 11 terms of CDs, but it does not offer specialty products such as no-penalty or bump-rate CDs. Its yields are not competitive and some CDs require a steep deposit. A 13-month CD, for example, requires $10,000 to open and the APY is not impressive, compared with APYs you can find at some online banks.Also, there is scant information on its website about CD products. You must visit a branch, call or email to get rate information, and there is a wider selection of CD products available at branches than there is online.
Pros
A variety of term lengths is offered, enabling savers to build a CD ladder. Some CDs can be opened online.Cons
You can find higher yields on CDs elsewhere, especially at online banks. Most CDs must be opened at a branch location. There is little product information on the website. Consumers must call or email to get rates and other CD details. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.10 % APY Info Bankrate CD 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. Min. deposit Term Offer details Offer detailsCapital One
Member FDIC CD Details 4.10 % APY Min. deposit Term Get peace of mind with fixed rates and guaranteed returns. 2.3 Bankrate ScoreSynovus Bank money market overview
Synovus’ Relationship Money Market Account offers tiered interest rates, but there is no minimum balance required to earn interest. Higher "relationship" APYs kick in for savers with at least a $25,000 balance across Synovus deposit and investment accounts. You must have $500,000 in the bank to earn the very highest APY, but it's easy to find better rates with lower deposit requirements at online banks.A $100 deposit is required to open the account. There is a $10 monthly service fee unless a $2,500 balance is maintained. The account comes with access to digital banking access, and notary services are free.
Pros
The minimum opening deposit is a reasonable $100. Account holders have access to digital banking services.Cons
There is a $10 monthly service fee unless you maintain a $2,500 balance across all Synovus accounts. You must have $500,000 across Synovus accounts to earn the highest APY. You can find higher yields at other banks. 4.7 Bankrate ScoreSynovus Bank checking overview
Synovus offers three checking accounts, but for this review Bankrate focused on the Free Checking account.Free Checking requires $100 to open and there is no monthly service fee, regardless of the balance. Account holders have access to online and digital banking tools that allow them to monitor and manage the account 24/7 from anywhere. ATM usage could become costly if you're not in a state with Synovus branches or Publix grocery stores Presto! ATMs. An out-of-network ATM balance inquiry, transfer or withdrawal will cost $2.50 a pop.
Pros
Free Checking has a reasonable opening deposit. Free Checking has no monthly service fee, regardless of the balance. Account holders have access to the conveniences of digital banking. The account comes with a debit card.Cons
Customers outside Synovus' limited branch and ATM footprint could incur costly ATM fees. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking 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. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
Customer service hours by telephone are 7 a.m. to 11 p.m. Eastern time, seven days a week. Synovus offers online and digital banking, as well as person-to-person payment capability using Zelle. Customers can add Synovus-issued credit/debit cards for use in digital wallets, including Apple Pay. Synovus has ATM access in the Southeast, as well as free use of Presto! ATMs at Publix grocery stores. The Synovus website contains personal financial calculators and educational articles on topics such as tips for building an emergency fund and how to prepare for a financial setback.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 309 branches in Georgia, Florida, Alabama, Tennessee and South Carolina. It provides loans and deposit products, investment services, financial planning and wealth management.Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.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. .