Bank of America vs Synchrony Bank

Bank of America is a national bank with widespread accessibility and wide range of services. How does it compare to Synchrony Bank? Read our comparison chart below.

Bank of America is one of the largest banks in the U.S. with approximately 4,300 locations and 17,000 ATMs. It is known for good customer service with extended hours. It offers checking, savings, CDs, IRA, and investment accounts through Merrill Edge.

While Synchrony Bank offers high interest savings with an ATM card for easy withdrawals. There is no minimum deposit. Their CDs require a $2,000 minimum deposit to open. There are no service fees for any products.

Compare Bank of America with Synchrony Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

	Member FDIC	Synchrony BankChaseUS BankBMO BankDiscover Bank
	Learn More	Learn More
	Bank of America	Synchrony Bank
	OFFER Bank of America Advantage Banking - $200 Bonus Offer Read Bank of America Review	SPECIAL OFFER High Yield Savings - 4.75% APY - Learn More Read Synchrony Bank Review
	Benefits and Features
Savings		4.75% APY. No monthly service fee and no minimum deposit. An ATM card is provided for easy withdrawal. Synchrony will refund ATM fees for other banks up to $5 per statement cycle
CD		0.25% to 5.15% APY. Terms of 3 months to 5 years. No minimum deposit to open.
Checking
Money Market		2.25% APY. No monthly service fee and no minimum deposit.
ATMs	Approximately 16,000+ ATMs	Any ATMs with Plus or Accel logos
Customer Service	Mon-Fri: 8am - 9pm (ET) Sat: 8am - 8pm (ET) Sun: 8am - 5pm (ET)	Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)
IRA CD		0.25% to 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market		2.25% APY.
Locations	3,922 financial centers	Online Only
	CreditDonkey® Reviews
Savings
CD
Checking
Mobile App
Customer Service
Money Market
Pros & Cons	Pros: Large branch network Extended service hours Full service banking Cons: Monthly fees Low interest rates Many misc. banking fees	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours
Bottom Line	National bank with widespread accessibility and wide range of services... Read full review	Good online bank offering high interest rates... Read full review
	Learn More	Learn More
		High Yield Savings - 4.75% APY Money Market Certificate of Deposit
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Bank of America: Pricing information from published website as of 04/09/2024 based on 91107 zip code. Synchrony Bank: Pricing information from published website as of 04/11/2024.

Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Learn More

Expires 5/31/2024

• The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
• The offer is for new checking customers only.
• Offer expires 5/31/2024.
• To qualify, open a Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new account within 90 days of opening.
• Bank of America will attempt to pay bonus within 60 days.
• Additional terms and conditions apply. See offer page for more details.
• Bank of America, N.A. Member FDIC.

Member FDIC

Bank of America Business Advantage Checking Account - $200 Bonus Offer

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Expires 6/30/2024

Earn a cash bonus in three steps:

1. Open a new eligible business checking account by June 30, 2024
2. Make Qualifying Deposits* of $5,000 or more in new money within 30 days of opening the new eligible business checking account
3. Maintain an average balance of $5,000 for the next 60 days (day 31-90) during the maintenance period**

*Qualifying Deposits are deposits of new money, which is money not currently or previously held in any account at Bank of America or Merrill
**The maintenance period begins thirty-one (31) days after account opening and ends ninety (90) calendar days after account opening.
Member FDIC

Member FDIC

Bank of America Advantage SafeBalance Banking®

• Banking that helps you stay within your balance.
• No monthly maintenance fee each statement cycle when you meet one of the following: an owner of this account is under the age of 25 or maintain a minimum daily. balance of $500 in your account or are a member of Bank of America Preferred Rewards®.
• Bank of America, N.A. Member FDIC.

Learn More

Which is Better: Bank of America or Synchrony Bank?

Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Bank of America or Chase.

In short: Synchrony Bank's savings is excellent.

Articles on Bank of America

Bank of America Review

Bank of America is a national bank with many account options and user-friendly online banking. But does this convenience come at a cost? Read on.

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Bank of America Savings Account Interest Rate

Bank of America's Advantage Savings has a standard APY way below the national average. Read on to find out more.

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Does Bank of America Have a High Yield Savings

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Bank of America Problems

Bank of America may be one of the biggest banks, but many customers find a lot of issues with their banking services. What are they? Keep reading.

Bank of America CD Rates

Bank of America is one the biggest banks in the U.S. But are their CD rates worth it? Read on to find out.

How to Close a Bank of America Account

Want to close your Bank of America account? Learn how and what you need to do before you close your account.

Bank of America Hours

Bank of America is open 5-6 days a week, depending on the location. Take a look at their business hours below.

Bank of America Routing Number

Find your Bank of America routing number and learn about money transfers in our guide.

Articles on Synchrony Bank

Synchrony Bank

Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account.

Synchrony High Yield Savings Review

Synchrony's high-yield savings account has a high APY with no fees. But they also have more to offer than just that. Read on to know all the details.

Synchrony Bank CD Rates

Are CD rates good at Synchrony Bank? Find out if you should open a Synchrony CD.

Which Do You Think is Best?

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