Synchrony Bank

Commercial bank · Draper, United States

Synchrony Bank is the deposit-taking arm of Synchrony Financial, chartered in 1988 and holding USD 115.2 billion of assets and USD 86.0 billion of deposits at 30 June 2026 across two offices. Its business model is consumer credit: it issues store cards, co-branded cards and health care financing under partner brands, then funds those receivables with online savings accounts, money market accounts and certificates of deposit paying 3.30 percent on high yield savings and 4.30 percent on a 16-month CD. For a company the relationship is as a retail partner whose customers get a financing programme, not as an account holder. There is no business checking account, no payment rail for company money and no international service.

Legal name: Synchrony Bank
Regulated by: Office of the Comptroller of the Currency, FDIC, Consumer Financial Protection Bureau
Licence confirmed: yes, on a regulator's own list
Established: 1988
Website: www.synchrony.com/banking

Scores, 0 to 10

8.0Best interest on business balances

High yield savings pays 3.30 percent APY and a 16-month CD pays 4.30 percent APY, published on the front page of the banking site, though only individuals can open them. · source

7.5Financial strength & stability

USD 14.86 billion of equity on USD 115.2 billion of assets with ROE of 22.07 percent at 30 June 2026, and USD 3.43 billion of group net income in 2024. · source

6.5Lowest fees

Savings products are advertised without fees to slow progress, but there is no business account and therefore no business fee schedule at all. · source

6.0Fast digital onboarding

Deposit accounts open fully online in minutes, but only for consumers; there is no business application path. · source

4.0United States

A national bank charter with USD 115.2 billion of assets serving customers nationwide online, but the deposit range is consumer savings, money market and CDs with no business account. · source

4.0Business cards (Visa, Mastercard)

Synchrony issues store, co-branded and health care cards at scale, but they are consumer credit products; no business card, virtual card or spend control is offered. · source

4.0On-ramp: buy crypto with fiat

A 2026 test found ACH and USD 25 wires from a Synchrony savings account to Kraken go through like any other external transfer, but this is retail only, customers report a USD 25,000 monthly outgoing ACH cap on balances under USD 100,000, and the bank has no business deposit account. · source

4.0Off-ramp: crypto to fiat in a business account

The same 2026 guide reports free ACH withdrawals from Kraken back to Synchrony savings, which is retail evidence only; Synchrony offers no business deposit account and publishes no source-of-funds process for crypto proceeds. · source

3.5Fintech companies that need a partner bank

Synchrony runs card programmes for retail and health care partners, but it publishes no safeguarding accounts, BIN sponsorship or agency banking offer for payment firms. · source

3.5Online businesses: e-commerce and SaaS

Online retailers can put a Synchrony financing programme at checkout, but the bank provides no acquiring, settlement account or marketplace payout. No API banking, no receiving accounts and no recurring-revenue financing for software companies. · source

3.0Crypto-friendly bank

The bank publishes no policy on cryptocurrency businesses and offers no digital-asset product. · source

2.5Startups & VC-backed companies

No startup banking, venture debt or founder product; the bank funds consumer receivables. · source

2.5High-risk verticals (iGaming, cannabis, adult, forex)

The bank publishes no prohibited-activities list, and its consumer credit programmes are sold to mainstream retail and health care partners rather than gambling, cannabis, adult or forex operators. · source

2.0Foreign-owned & non-resident companies

Deposit accounts require United States residency and a Social Security number, and no foreign-owned company can hold an account. · source

1.5Customer satisfaction

Trustpilot rates synchronybank.com 1.0 out of 5 from 2,020 reviews and the CFPB logged 16,524 complaints against Synchrony Financial in the year from 1 September 2025. · source

1.0Cross-border payments, FX and multi-currency accounts

Domestic dollar bank: no foreign currency accounts, no international transfers and no SWIFT service on the banking site. No corporate accounts, no cash pooling, no multi-currency and no host-to-host connection. · source

1.0Trade, manufacturing & import-export

No letters of credit, guarantees or supply-chain finance. · source

1.0Crypto wallet and custody for a business

Synchrony Bank sells savings, money market accounts, CDs and private-label credit cards with no crypto trading, custody or wallet for any client, confirmed by an April 2026 hands-on guide. · source

1.0Accept crypto payments

Synchrony's banking site offers high-yield savings and CDs, and its merchant relationships are store-card financing, with no crypto or stablecoin acceptance on its site or in press, checked September 2026. · source

1.0Bitcoin

No bitcoin buying, holding, transfers or even bitcoin ETFs are offered by Synchrony, which has no brokerage arm, per the April 2026 guide. · source

1.0Ethereum

No ether product or ETF access at Synchrony, which has no brokerage arm, per the April 2026 guide. · source

1.0Stablecoins (USDC, USDT and others)

No stablecoin accounts, payouts or issuance plans were found for Synchrony; its only published distributed ledger step is joining the R3 consortium years ago, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.