Charles Schwab Bank vs Synchrony Bank

Charles Schwab Bank is a popular brokerage with a free checking account that refunds ATM fees. How does it compare to Synchrony Bank? Read our comparison chart below.

Charles Schwab Bank offers an Investor Checking account with unlimited ATM fee reimbursements worldwide and no foreign transaction fees. No minimum to open and no service fee. It is tied to a brokerage account but you don't have to use it.

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

	Charles Schwab Bank	Synchrony Bank
	SPECIAL OFFER High Yield Investor Checking – Unlimited ATM Rebates - Learn More Read Charles Schwab Bank Review	SPECIAL OFFER High Yield Savings - 4.75% APY - Learn More Read Synchrony Bank Review
	Benefits and Features
Savings	0.48% APY	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	Offers brokered CDs from other banks. Minimum deposit of $1,000.	0.25% to 5.15% APY. Terms of 3 months to 5 years. No minimum deposit to open.
Checking	0.45% APY, $0.01 account minimum
Money Market		2.25% APY. No monthly service fee and no minimum deposit.
ATMs	Unlimited ATM fee rebates when used with ATMs with the Visa, Interlink logo. Available worldwide.	Any ATMs with Plus or Accel logos
Customer Service	24/7 Live Customer Service (Telephone and Chat)	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	345 branches across the country. You may also open an account online.	Online Only
	CreditDonkey® Reviews
Savings
Checking
Mobile App
Customer Service
Money Market
Pros & Cons	Pros: No account minimum No service fees Refund all ATM fees Cons: Only checking or savings Must do banking online	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours
Bottom Line	Popular brokerage with a free checking account that refunds ATM fees... Read full review	Good online bank offering high interest rates... Read full review
	High Yield Investor Checking – Unlimited ATM Rebates Schwab Bank Investor Checking™ Schwab Bank Investor Savings	High Yield Savings - 4.75% APY Money Market - 2.25% APY 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. Charles Schwab Bank: Pricing information from published website as of 04/11/2024. Synchrony Bank: Pricing information from published website as of 04/11/2024.

Which is Better: Charles Schwab Bank 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 Charles Schwab Bank or Chase.

In short: Synchrony Bank's savings is excellent.

Articles on Charles Schwab Bank

Charles Schwab Bank Review

Charles Schwab is more than a brokerage. It also offers high yield checking and savings interest rates that might far surpass your local bank. Read on to learn the pros and cons.

Charles Schwab High Yield Savings

Charles Schwab Bank has a savings account with no fees and a free debit card. But how does its APY stack up against other accounts?

Charles Schwab Routing Number

You'll need the right routing number to transfer money in or out of your Charles Schwab bank account. Find yours and learn more about money transfers in our guide.