Synovus Bank Review

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Synovus might be appealing if you live in the Southeast U.S. and want a traditional banking experience. However, its checking and savings accounts may include monthly fees depending on your account balance. For bank accounts with minimal monthly service fees and high interest rates, consider going through our best online banks.

Synovus Bank Review: Overall Rating

Synovus Bank Pros and Cons

About Synovus Bank 

Synovus is a brick-and-mortar financial institution with more than 200 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee. Customers have access to 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.

Synovus savings rates aren't published on the website. Our guide on the best high-yield savings accounts has the highest interest rates available, and many include rates that are available nationwide, which may be more appealing when opening a savings account.

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 requires a minimum opening deposit of $1,000.

Synvous bank account rates vary by geographic location. Keep in mind that our best CD rates include the highest rates available nationwide. Other banks may also have the same rates available nationwide for customers, which may be more convenient when opening a CD.

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 one 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, miscellaneous features, customer support availability, and mobile app ratings, bank security and ethics for all types of bank accounts.

We use a weighted average to get our star rating, which means we weigh certain features, like interest rates and fees, at a higher weight percentage than others. We understand that these areas can more heavily impact a person's overall banking experience.

Sophia Acevedo

Banking Editor

Sophia Acevedo is a banking editor at Business Insider. She has spent three years as a personal finance journalist and is an expert across numerous banking topics. ExperienceSophia leads Personal Finance Insider's banking coverage, including reviews, guides, reference articles, and news. She edits and updates articles about banks, checking and savings accounts, CD rates, budgeting, and general saving. Sophia was also a part of Business Insider's 2024 series "My Financial Life," which focused on telling stories that could help people live and spend better.Before joining Business Insider, Sophia worked as a journalist at her college newspaper and was a freelance writer. She has spent seven years writing and editing as a journalist.Sophia was nominated for an Axel Springer Award for Change in 2023 for her coverage of ABLE Accounts, tax-free savings accounts for people with disabilities. She was also a winner of a 2018 California Journalism Awards Campus Contest for her photography.She loves helping people find the best solutions for their unique needs and hopes that more people will find the tools to solve their financial problems. She’s inspired by stories of everyday people adapting to their financial circumstances and overcoming their fears around money.ExpertiseSophia's expertise includes:

• Bank accounts
• Savings and CD rate trends
• Budgeting
• Saving
• How banks operate

EducationSophia graduated from California State University Fullerton with a degree in journalism and a minor in political science.Sophia is a member of the National Association of Hispanic Journalists.She is an avid reader across a variety of genres, and she started running in 2021. She ran in the 2024 Los Angeles Marathon.

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Evelyn He

Compliance and Operations Associate

Evelyn He is a compliance and operations associate for Business Insider’s Personal Finance team. Evelyn ensures content accuracy and editorial independence so readers get the most up-to-date and objective financial advice, enabling them to make informed financial decisions.ExperienceAs part of the compliance team, Evelyn helps fact check Personal Finance stories and works to make sure that the language is clear, precise, and compliant with government regulations and partner guidelines. Previously, Evelyn worked as a compliance specialist for Apellis Pharmaceuticals and a legal assistant at the law firm Morrison Mahoney.ExpertiseEvelyn is an expert in the following areas:

• Compliance
• Quality assurance
• Affiliate marketing
• Search engine optimization (SEO)
• Content strategy

EducationEvelyn earned a bachelor’s degree in business administration from UMass Amherst and a master’s in marketing from Boston University.Evelyn has two dogs, Money and Tibber.

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