Synchrony Bank Money Market Account Review

Synchrony Bank Money Market Account is offered by Synchrony Bank, a bank founded in 1932 and based in Bridgewater, NJ. Synchrony Bank Money Market Account is available in 50 states (and Washington, DC).

Are money market accounts from Synchrony Bank federally insured?

Yes, your Synchrony Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #27314). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the Synchrony Bank Money Market Account rates?

Synchrony Bank Money Market Account offers an APY of up to 0.35% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $0.01.

What are the Synchrony Bank Money Market Account fees?

Synchrony Bank Money Market Account does not charge a monthly maintenance fee.

What is the minimum balance for Synchrony Bank Money Market Account?

Minimum initial deposit of $5,000. You must make an initial deposit of at least $5,000 to open this account.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does Synchrony Bank Money Market Account offer?

This account includes the following features:

• Check Writing - Synchrony Bank Money Market Account includes check writing privileges. This is convenient method to pay bills and transfer money from your account.
• Fraud monitoring - Synchrony Bank monitors transactions for potentially fraudulent activity.
• Mobile Banking Services - Synchrony Bank Money Market Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.

How to open an account with Synchrony Bank

• Visit the Synchrony Bank website.
• Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
• Check the information is accurate and submit your application.