Are you looking for a savings account? The key items to look for in any savings account are interest rates, fees, accessibility, and lastly any additional features. Synchrony Bank offers a great rate and rewards for saving with them such as; discounts at partnered hotels, car rental agencies, theme parks, spas, golf, restaurants and black car service. Barclays offers a great rate and online tools such as the Savings Assistant which allows you to start saving for the things that matter to you like a family vacation, or a down payment on that dream house. These key factors will guide you to find the savings account that best suites you! Sign up for either a Barclays Online Savings account or a Synchrony High Yield Savings account from the tables below.
Editor’s Note: Interested in a more in-depth review on Barclays and/or Synchrony? See a few of our review below:
- Secure 24/7 online access to your funds
- Online transfers to and from other banks
- Direct deposit to make saving simple and easy
- Nationwide
- No monthly service fee
- Easy withdrawals online, over the phone or with an ATM card
- Online banking portal
- Access to Banking Representatives
- Nationwide
- No monthly service fee
Interested in what more Synchrony Bank has to offer? See our list of Synchrony Bank Promotions!
Barclay Online Savings Fees
| Account Type | Barclays Online Savings Account |
|---|---|
| Minimum Opening Deposit | $0 |
| Minimum Balance Requirement | $0 |
| Monthly Fee | $0 |
| Stop Payment Fee | $0 |
| Statement Copy | $0.50 |
| Official Check | $5 |
| Returned Deposit Items | $5 |
| Excessive Transaction Charge | $5 |
Synchrony High Yield Savings Fees
| Account Type | Synchrony Bank High Yield Savings Account |
|---|---|
| Minimum Opening Deposit | No minimum requirement |
| Minimum Balance Requirement | $50 |
| Monthly Fee | $0 |
| ATM Fee | $5 reimbursement per monthly cycle for ATM fees |
| Stop Payment Fee | $25 |
| Outgoing Wire Transfer | $25 |
| Overnight Check Fee | $25 |
Barclays Savings vs Synchrony Bank Savings Comparison
Considering that both of these accounts offer an exceptional APY, it’s even more necessary to look at both of these accounts at a deeper level. Their are no monthly fees for both of these accounts.
Barclay’s Online Savings earns dividends as long as you have $.01 in your account. On the other hand, Synchrony requires you to have $30. Anything below that and you won’t earn dividends. If you’re looking to open numerous savings accounts, Barclay offers you the ability of opening up to 25 accounts.
However, there are some things to consider like unpredictable rates that are subject to change if necessary and Barclays Bank US does not offer a variety of products such as checking accounts, mortgage loans and auto loans. At the end of the day, both accounts are FDIC insured up to $250,000, so there’s no risk with your deposit.
The ultimate comparison would be the features that you are wanting to receive from your savings account. The Synchrony Bank High Yield Savings account includes rewards the more money you have in your account while the Barclay’s Online Savings account provides tools to better assist you in your savings. Barcylay’s Savings Assistant is basically a calculator for your intended goals of big financial purchase. Both of these accounts offer roughly the same features, fees, and customer service. At the end of the day, what matters most is what you’re looking for.
Author’s Verdict
Barclays offers a straight-forward savings account with a strong APY. Consumers seeking a no-frills account focused on maximizing the financial rewards of saving will benefit from this account. Synchrony Bank offers a great rewards program for their customers! I would highly recommend using the Synchrony Bank High Yield Savings Account if you would like one of the highest interest rates and also one of the best rewards programs! Synchrony Bank offers no fees which makes saving even easier! The Barclays online savings account are especially attractive to people with low balances. Both accounts are FDIC insured so there’s no risk involved with your deposits. Use the links from the table above for whichever account you would like to open. Be sure to check back on BankDealGuy for more bank deals!
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