Synchrony Bank vs Citibank
Synchrony Bank is a good online bank offering high interest rates. How does it compare to Citibank? Read our comparison chart below.
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.
While Citibank has over 700 branches across the U.S. Accounts must be opened as a checking & savings package. Service fees and ways to waive are on the high side. Best for high-balance customers who can open one of the elite accounts to earn reward points, get preferred rates, and other perks.
Compare Synchrony Bank with Citibank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
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Synchrony Bank | Citibank | |
|---|---|---|
High Yield Savings - 4.14% APY - | Citi Priority Account - Earn up to $2,000 Cash Bonus | |
Benefits and Features | ||
| Savings | 4.14% 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 | Citi® Accelerate High-Yield Savings available in AA, AE, AK, AL, AP, AR, AS, AZ, CO, DE, GA, GU, HI, IA, ID, IN, KS, KY, LA, MA, ME, MI, MN, MO, MP, MS, MT, NC, ND, NE, NH, NM, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VI, VT, WA, WI, WV, WY and select markets in Florida and Illinois. |
| CD | 2.25% to 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open. |  |
| Checking | Citi Priority Account | |
| Money Market | 2.24% APY. No monthly service fee and no minimum deposit. | |
| Customer Service | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) | 24/7 Live Customer Service (Telephone) |
| ATMs | Any ATMs with Plus or Accel logos | More than 70,000 fee-free ATMs at Citi branches and participating retail locations nationwide, including Target, CVS Pharmacy, Rite aid, Walgreens, Duane Reade and ATMs displaying Allpoint or MoneyPass logo. |
| IRA CD | 2.25% to 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open. | |
| IRA Money Market | 2.25% APY. | |
| Locations | More than 700 Citibank branches (concentrated in New York, Chicago, Los Angeles, San Francisco, Washington DC and Miami) | |
CreditDonkey® Reviews | ||
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| Savings |  |  |
| Money Market | | |
| Customer Service | | |
| CD | | |
| Checking | | |
| Mobile App |  | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Good online bank offering high interest rates... | Large national bank best for high balance customers... |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Synchrony Bank: Pricing information from published website as of 6/04/2023. Citibank: Pricing information from published website as of 01/31/2023. This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi. Citibank: This content is not provided by Citi. Any opinions expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citi. | ||
Citi Priority Account - Earn up to $2,000 Cash Bonus
- Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities
- Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds.
- Maintain a minimum balance for 60 consecutive calendar days from the 21st day.
- If your balance falls to a lower tier at any point during the maintenance period, the bonus changes.
- Bonus will be paid within 30 days after you successfully complete all required activities.
Citi Priority Account - Earn up to $2,000 Cash Bonus
Earn up to $2,000 cash bonus when you open a new eligible Citi Priority Checking Account with required activities. Within 20 days of opening, deposit the minimum amount of new-to-Citibank funds. Maintain a minimum balance for 60 consecutive calendar days from the 21st day. If your balance falls to a lower tier at any point during the maintenance period, the bonus changes. Bonus will be paid within 30 days after you successfully complete all required activities.
| Balance Levels | Maximum Bonus |
|---|---|
| $10,000 - $29,999 | $200 |
| $30,000 - $74,999 | $500 |
| $75,000 - $199,999 | $1,000 |
| $200,000 - $299,999 | $1,500 |
| $300,000 and above | $2,000 |
Citigold® Checking Account - Earn up to $2,000 Bonus
- Earn up to $2,000 cash bonus when you open a new eligible Citigold® Checking Account with required activities
- Within 20 days of opening, deposit $200,000 new-to-Citibank funds
- Maintain a minimum balance of $200,000 for 60 consecutive calendar days. The bonus will be deposited to your open, eligible account within 30 calendar days after you complete all required activities.
- No monthly service fee when you maintain a combined average monthly balance of $200,000+ in eligible linked deposit, retirement and investment accounts
Which is Better: Synchrony Bank or Citibank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Synchrony Bank or Chase.
In short: Synchrony Bank's savings is excellent.
Articles on Synchrony Bank
Synchrony Bank Review
Articles on Citibank
Citibank Review
Open Citi Account
Citi Priority
Citibank High Yield Savings
Citibank Routing Number
Which Do You Think is Best?
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