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Old 12-14-2015, 01:11 PM   #21
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I see folks with issues pertaining to credit accounts esp wrt deferred interest accounts but nothing that would deter me from using them for a savings acct. we have a few retail credit accounts with them (hh Gregg and some others) and the disclosures are pretty thorough IMO.


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Old 12-14-2015, 01:29 PM   #22
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We've been with CIT for years. 1.05% currently. We've experienced no problems with them at all.
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Old 12-14-2015, 01:49 PM   #23
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I see folks with issues pertaining to credit accounts esp wrt deferred interest accounts but nothing that would deter me from using them for a savings acct. we have a few retail credit accounts with them (hh Gregg and some others) and the disclosures are pretty thorough IMO.
The other site I'd found indicated there were people having issues with transfers in/out of the savings accounts and lousy customer service. Of course I can't "prove" that now that I've lost the link to that particular set of reviews ....
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Old 12-14-2015, 02:09 PM   #24
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I'd love to find that link (with the bank reviews) again also, as I remember reading some really questionable things about Synchrony, GE Capital and others too..

I thought Bankrate.com had the reviews but can't find them now..wonder if they took them down?
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Old 12-14-2015, 02:13 PM   #25
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Think I found it..

https://www.depositaccounts.com/bank...rony-bank.html
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Old 12-14-2015, 02:46 PM   #26
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HA!!!! That's the one!
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Old 12-14-2015, 03:17 PM   #27
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The other site I'd found indicated there were people having issues with transfers in/out of the savings accounts and lousy customer service. Of course I can't "prove" that now that I've lost the link to that particular set of reviews ....
Yeah, the complaints on the depositaccounts site look concerning. I use GE Capital Bank, the one that Goldman Sachs bought and I am not optimistic about GS's concern for small retail accounts.
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Old 12-14-2015, 03:19 PM   #28
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Well I have had no problems with transfers into a Synchrony bank high yield savings account. Hopefully I won't have problems with transfers out.

I usually initiate a transfer from my brokerage - so maybe that helps.
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Old 12-14-2015, 05:29 PM   #29
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Barclays online savings is completely fine - had an account for a couple of years, and transferring in and out is trouble-free.
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Old 12-31-2015, 11:26 AM   #30
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Well I have had no problems with transfers into a Synchrony bank high yield savings account. Hopefully I won't have problems with transfers out.

I usually initiate a transfer from my brokerage - so maybe that helps.
Yesterday afternoon (before 4pm ET) at Fidelity, I initiated a transfer of a large amount from my Synchrony account to my Fidelity brokerage. A couple of hours later I got an email from Fidelity showing that the transfer went through.

They told me the funds wouldn't be available for withdrawal for 4 business days when I initiated the transfer, but it looks like the funds were made available for trading as soon as I got the email.

Then today I got the email from Synchrony notifying me of the transfer, and Fidelity still shows the funds available for trading.

So this worked as well as I expected it to. I was a little nervous after reading some of the comments here. Which is why I made the transfer yesterday (Dec 30) instead of waiting until today. I'm getting ready to do my annual withdrawal and rebalancing next week.

I use my Synchrony account to hold most of what used to be my cash reserves in my brokerage account. To me the one day trading delay is more than made up for by the 1.05% interest rate paid and the FDIC insurance. I trade very infrequently.

It may well be that things worked cleanly and relatively fast, because I initiated the transfer from my Fidelity brokerage account. I initiate all transfers - deposits and withdrawals - from the Fidelity side.
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Old 12-31-2015, 02:49 PM   #31
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Online Ally bank offers some decent rates.
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Old 12-31-2015, 11:58 PM   #32
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I read those Synchrony Bank reviews just 2 days ago when I was looking at setting up some CD ladders. It appears they took out some money twice from a few customers.


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