Synovus Bank Signature Personal Savings Account

Synovus Bank Signature Personal Savings Account Review

Synovus Bank Signature Personal Savings Account is offered by Synovus Bank, a bank founded in 1888 and based in Columbus, GA. Synovus Bank Signature Personal Savings Account are available in 5 states across the USA.

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only 0.02%.
• Charges a monthly fee. This account charges a monthly service fee of up to $5, but the fee is waived if you keep a minimum balance of $200.
• $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.

Synovus savings account Pros & Cons

Pros	Cons
Interest-yielding account. Access to physical branches.	No signup bonus. Does not provide access to a nationwide ATM network. Does not come with a debit card Only available in 5 states. Higher than average wire transfer fees. Monthly service charge.

Synovus savings account FAQ

Are savings accounts from Synovus Bank federally insured?

Yes, your deposits are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #873). 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.

Does Synovus Bank offer a signup bonus?

Synovus savings account has a signup bonus of $0.

What is the minimum initial deposit for Synovus savings account?

The minimum deposit to open a Synovus savings account is $100.

Synovus Bank Signature Personal Savings Account Minimums

Description
Minimum Balance to Avoid Monthly Fee	Starting at $200
Minimum Balance to Earn APY	$0.01
Minimum Opening Deposit	Starting at $100

What APY does Synovus Bank Signature Personal Savings Account offer?

Synovus savings account offers an APY of 0.02% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does Synovus savings account charge?

Synovus savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $200.

• Outgoing domestic bank transfers come with a $26 fee.
• Incoming domestic bank transfers come with a $18 fee.
• Outgoing international bank transfers come with a $45 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
• Incoming international bank transfers come with a $25 fee.
• Synovus savings account charges a $25 fee for an early account closure. Contact Synovus savings account for more details on what is considered an early closure.

What features and perks does Synovus savings account offer?

This savings account includes the following features:

• Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
• Fraud monitoring - Synovus savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - Synovus savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to Synovus savings account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for Synovus savings account?

The customer support email for Synovus savings account is info@synovus.com.