Synovus Bank review: Free checking account with potential to earn Synovus Plus perks

Overall bank rating

Feature	Insider rating (out of 5)
Savings	3.75
Checking	4
CD	3.75
Money market account	3.25
Trustworthiness	5
Total	4

Pros and cons

Pros	Cons
Free checking account with multiple overdraft protection options Get Synovus Plus perks if you have the Synovus Free Checking Account and meet certain requirements 24/7 customer support	Only available to residents in AL, GA, FL, SC, and TN Low interest rates on savings accounts Monthly service fees on savings accounts $100 minimum opening deposit for savings and checking accounts

Synovus Personal Savings Account review

The Synovus Bank Personal Savings is a standard savings option, similar to what you’d find at most brick-and-mortar banks. There’s a $5 monthly service if you don’t maintain at least $200 across your bank accounts, and the interest rate is pretty low.

If you’re looking to earn a higher interest rate, our best savings accounts guide has stronger savings accounts.

Synovus Free Checking Account review

The Synovus Free Checking Account is a great choice for avoiding common bank fees. There are zero monthly service fees and multiple overdraft protection options.

You also may be able to get Synovus Plus features — like higher interest rates on savings accounts or an automatic out-of-network fee refund each month. To be eligible for Synovus Plus, you’ll need to have a minimum monthly deposit of $5,000 in your checking account or a balance of at least $25,000 across all your Synovus accounts.

Synovus Certificate of Deposit review

Synovus pays low interest rates on CDs and requires a minimum opening deposit of $1,000. If you don’t have that much money for an initial deposit or would like to earn a higher rate, consider going through our best CD rates guide.

Synovus Money Market Account review

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 $10 monthly service fee. 

How Synovus Bank works

Synovus is a brick-and-mortar financial institution with 357 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee. Customers have access to over 1,250 ATMs through the bank’s ATM network and the Publix Presto! ATM network. 

Customer service is available 24/7 by phone.

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: 

Bank product	Perks
Synovus Free Checking Account	1 free out-of-network ATM fee reimbursement per month Automatic refunds on all stop payments 50% discount on incoming/outgoing domestic wire transfer fees 50% discount on bank safe deposit boxes
Synovus Personal Savings Account, Synovus Money Market Account, Synovus Certificate of Deposit	Earn between 0.10% to 0.20% APY on the money market, depending on your account balance Higher interest rate for savings accounts and CDs (Call your nearest branch for relationship rates)
Synovus Credit Cards	Free expedited delivery for emergency replacement cards  Receive 10,000 bonus points on the Synovus Rewards Credit Card or Synovus Travel Rewards Credit Card if you spend $3,000 in the first 90 days Receive $100 bonus on the Synovus Cash Rewards Credit Card if you spend $3,000 in the first 90 days Receive $50 credit on the Synovus Cash Rewards Credit Card if you spend $60,000 in a year
Loans	Get a 0.25% APR discount on a home equity line of credit Get a 0.20% APR discount on a securities-backed line of credit

You may qualify for Synovus Plus if you open the Synovus Free Checking Account. To earn perks, you must have a minimum monthly deposit of $5,000 in your checking account or a balance of at least $25,000 across all your Synovus accounts.

Synovus Bank trustworthiness and BBB score

We include ratings from the Better Business Bureau so you can see how a bank handles customer issues.

The BBB gave Synovus an A+ rating. A good BBB grade doesn’t guarantee that your banking experience will be perfect, though. Read online customer reviews or talk to current customers to determine whether Synovus is a good match. 

Synovus hasn’t been involved in any recent public scandals.

Synovus Bank vs. First Horizon Bank

First Horizon Bank is another brick-and-mortar bank located in the Southeast US region. We’ve reviewed the two regional banks so you may see if one is a better option for you.

Locations 375 branches in AL, GA, FL, SC, and TN	Locations 400 branches in AL, AR, TN, FL, GA, LA, MS, NY, NC, SC, TX, and VA
Standout feature Free checking account with Synovus Plus eligibility	Standout feature Free checking account with no overdraft transfer fees
Synovus Personal Savings Account	First Horizon Bank Traditional Savings Account

Deciding between these two banks may largely depend on your habits and preferences.

Both banks have strong free 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 Free Checking Account. Then, you’ll need to maintain a minimum monthly deposit of $5,000 in your checking account or a balance of at least $25,000 across all your Synovus accounts.

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.

Synovus Bank vs. First Citizens Bank

First Citizens Bank is available in most of the same states as Synovus. See how it compares below. 

Locations 375 branches in AL, GA, FL, SC, and TN	Locations 600 branches in AZ, CA, CO, FL, GA, HI, KS, MD, MI, NE, NV, NC, OK, OR, SC, TN, TX, VA, WA, WV, and WI
Standout feature Free checking account with Synovus Plus eligibility	Standout feature Free checking and savings accounts with a low minimum opening deposit
Synovus Personal Savings Account	First Citizens Bank Online Savings Account

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.

Frequently asked questions

Is Synovus Bank nationwide?

Synovus Bank is a regional brick-and-mortar financial institution available only in the Southeast US. There are 375 branches in Alabama, Georgia, Florida, South Carolina, and Tennessee.

How much do you need to open an account at Synovus Bank?

The minimum opening deposit for savings, checking, or money market accounts is $100. CDs require a minimum of $1,000.

Is Synovus a good bank?

Synovus is a good choice if you are looking to open a checking account at a brick-and-mortar bank.

If you would like to earn more interest on your savings, online banks or credit unions may be stronger options since they pay higher rates on savings accounts and CDs.