Wells Fargo vs Synchrony Bank
Wells Fargo is an a "big 4" bank with a good range of checking accounts and full services. How does it compare to Synchrony Bank? Read our comparison chart below.
Wells Fargo is one of America's largest banks with over 4,500 locations and approximately 11,000 ATMs. Offers many checking options, including Teen Checking and Opportunity Checking for those who had financial troubles. 24/7 customer service. Special CDs offers high rates with $5,000 minimum opening deposit.
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 Wells Fargo with Synchrony Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
Wells Fargo | Synchrony Bank | |
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Personal Checking Account - $2,500 Bonus - | High Yield Savings - 4.75% APY - | |
Benefits and Features | ||
Savings | 0.15% APY. Minimum opening deposit of $25. Monthly service fee of $5, unless you maintain a minimum daily balance of $300, make 1 automatic transfer each fee period of $25 or more from a linked Wells Fargo checking account, make 1 automatic transfer each business day within the fee period of $1 or more from a linked Wells Fargo checking account, make 1 or more Save As You Go® transfers from a linked Wells Fargo checking account, or primary account owner is 24 years old or under. | 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 | Standard Fixed Term CD available online: 1.50% to 4.50% APY. Terms of 3 months to 1 year. Minimum deposit of $2,500. Bonus of up to 4.51% APY if you maintain a linked Portfolio by Wells Fargo relationship. More CD terms are available in branch. | 2.05% to 5.15% APY. Terms of 3 months to 5 years. No minimum deposit to open. |
Checking | Clear Access Banking, Everyday Checking, Portfolio by Wells Fargo | |
Money Market | Also known as the Platinum Savings Account. 0.25% - 2.50% APY. Minimum opening deposit of $25. $12 monthly service fee, unless you maintain a minimum daily balance of $3,500. Bonus APY of 2.51% requires account linked to Portfolio by Wells Fargo relationship. | 2.25% APY. No monthly service fee and no minimum deposit. |
ATMs | approximately 11,000 ATMs across the country | Any ATMs with Plus or Accel logos |
Customer Service | Available 24 hours a day, 7 days a week. | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) |
IRA CD | Standard Term CD: 0.01% to 4.50% APY. Terms of 1 month to 144 months. Minimum deposit of $1,000. Bonus of up to 4.51% APY if you maintain a linked Wells Fargo Prime/Portfolio Checking account. | 2.05% to 5.15% APY. Terms of 3 months to 5 years. No minimum deposit to open. |
IRA Money Market | Also known as Retirement High Yield Savings. 0.25% - 2.50% APY. $100 minimum opening deposit. | 2.25% APY. |
Locations | Approximately 4,500+ retail banking branches coast to coast. | |
CreditDonkey® Reviews | ||
Savings | ||
CD | ||
Checking | ||
Mobile App | ||
Customer Service | ||
Money Market | ||
Pros & Cons | Pros:
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Bottom Line | A "big 4" bank with a good range of checking accounts and full services... | Good online bank offering high interest rates... |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Wells Fargo: Pricing information from the published website as of 03/29/2024 is based on the 91101 zip code. Synchrony Bank: Pricing information from published website as of 03/16/2024. |
Which is Better: Wells Fargo 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 Wells Fargo or Chase.
In short: Synchrony Bank's savings is excellent.