Synovus Bank Review 2024 (2024)

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Synovus Bank Review: Overall Rating

Synovus Bank Pros and Cons

About Synovus Bank

Synovus is a brick-and-mortar financial institution with 343 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee. Customers have access to over 1,250 ATMs through the bank's ATM network and the Publix Presto! ATM network.

Customer service is available every day from 7 a.m. to 11 p.m. ET.

The bank's mobile app has 4.5 out of 5 stars in the Google Play Store and 4.8 out of 5 stars in the Apple store.

Synovus is FDIC-insured. You may keep up to $250,000 in an individual bank account.

Synovus Plus

Synovus Plus is a special bank program that offers discounts and perks for other bank products and services.

The following benefits are the most notable perks offered through Synovus Plus:

You may qualify for Synovus Plus if you open and maintain the Synovus Plus Checking Account.

Is Synovus Bank Trustworthy?

We include ratings from the Better Business Bureau so you can see how a bank handles customer issues. The BBB gives Synovus an A+ rating.

Synovus hasn't been involved in any recent public scandals.

Synovus Bank FAQs

Synovus Bank Account Reviews

Synovus Personal Savings Account

The Synovus Personal Savings Account is a standard savings option, similar to what you'd find at most brick-and-mortar banks. There's a $5 monthly service fee if you don't maintain at least $200 across your bank accounts, and the interest rate is pretty low.

If you're looking to earn a higher interest rate, our guide on the best high-yield savings accounts has stronger savings accounts.

Synovus Plus Checking Account

The Synovus Plus Checking Account is a decent option if you meet one of the requirements to waive the Synovus Plus Checking Account. You may waive the fee if you maintain $5,000 or more in your checking account each month, $10,000 across all your Synovus Bank accounts, or $500,000 or more across business and commercial bank accounts each month. The fee is also waived for military members.

This checking account also allows you to have access to the Synovus Plus program, which has perks like higher interest rates on savings accounts or an automatic out-of-network fee refund each month.

Synovus CD

Synovus pays low interest rates on most terms and requires a minimum opening deposit of $1,000. But it pays high CD rates on select promotional terms.

Synovus Money Market Account

You might like the Synovus Money Market Account if you want to open a money market account with a low initial deposit. Most brick-and-mortar banks require a minimum of $1,000, while you'll only need $100 with Synovus.

To get the most out of the account, you'll want to maintain a balance of at least $2,500. Otherwise, you'll have to pay a no monthly service fee.

How Synovus Bank Compares

Synovus Bank vs. First Horizon Bank

First Horizon Bank is another brick-and-mortar bank located in the Southeast US region. Deciding between these two banks may largely depend on your habits and preferences.

Both banks have strong checking accounts but stand out for different reasons.

You might lean more toward Synovus if you qualify for Synovus Plus. To get the bank's perks, you'll first need to open the Synovus Plus Checking Account. Then, to waive the monthly service fee you'll need to maintain a minimum monthly deposit of $5,000 in your checking account, $10,000 across all your Synovus Bank accounts, or $500,000 or more across business and commercial bank accounts each month.

If you don't think you'll meet these requirements, First Horizon accounts might be easier to manage. The First Horizon Bank FirstView Checking Account has a lower minimum opening deposit, and the account has free overdraft protection.

First Horizon Bank Review

Synovus Bank vs. First Citizens Bank

First Citizens Bank is available in most of the same states as Synovus.

First Citizens Bank might be your top choice if you'd like to open a bank account with a low minimum opening deposit. You can open a savings or checking account with just $50. Synovus requires an initial deposit of $100 or more.

If you frequently withdraw cash from your bank account, it'll be a toss-up between the two banks.

First Citizens Bank has more branches and is available in more states. Meanwhile, Synovus customers have access to a larger fee-free ATM network.

First Citizens Bank Review

Why You Should Trust Us: How We Reviewed Synovus Bank

For our Synovus Bank review, we rated bank products and services using our bank account methodology.

At Personal Finance Insider, we rate bank accounts on a scale from zero to five stars. We review different features for distinct types of bank accounts. For example, we'll look at early withdrawal penalties and CD variety specifically for CDs. Meanwhile, for checking accounts, we'll factor in the ATM network size and fees, as well as its overdraft protection options. We'll also usually examine minimum opening deposits, monthly service fees, customer support availability, and mobile app ratings for all types of bank accounts.