Synovus is a regional bank headquartered in Columbus, Georgia, with branches across the Southeast

Synovus Bank is a full-service bank owned by Synovus Financial Corp, a publicly traded company. It operates branches in Georgia, Alabama, South Carolina, Florida, and other southeastern states. Unlike national banks like Chase or Bank of America, Synovus focuses on serving customers in its region rather than operating nationwide.

The bank offers the standard products you would find at any bank: checking and savings accounts, money market accounts, certificates of deposit (CDs), loans, and credit cards. It also provides business banking, investment services, and wealth management for customers with larger accounts. If you live in the Southeast and are looking for a bank with physical branches you can visit, Synovus is one option among many regional and national banks.

Key Takeaways

  • Synovus operates primarily in southeastern states and has physical branches you can visit in person, unlike online-only banks.
  • The bank offers checking accounts, savings accounts, CDs, and loans with terms and fees that vary by account type and your location.
  • As a regional bank, Synovus competes with both national banks and smaller local banks in its service area.
  • You can open an account online or at a branch, and you will need an initial deposit amount that depends on the account type.
  • Synovus is FDIC-insured, meaning deposits up to $250,000 per account type are protected if the bank fails.

Where Synovus operates and what that means for you

Synovus has roughly 250 branches across the Southeast, concentrated in Georgia, Florida, Alabama, and South Carolina. If you live outside these states, you will not have a Synovus branch nearby. This matters because having a physical branch means you can deposit checks in person, withdraw cash without ATM fees, and speak to someone face-to-face if you have questions about your account.

The bank is part of the Allpoint ATM network, which gives you access to thousands of ATMs outside Synovus branches without paying a fee. However, if you need to visit a branch regularly, you should check whether there is one in your area before opening an account. You can find branch locations on Synovus's website.

Types of accounts Synovus offers

Synovus offers several checking and savings account options. Checking accounts typically come with a debit card, online banking, and the ability to write checks. Savings accounts earn interest on your balance, though the rate varies depending on how much money you keep in the account and current market conditions.

The bank also offers money market accounts, which are a hybrid between checking and savings accounts—they earn higher interest than savings accounts but may have limits on how many times you can withdraw per month. Certificates of deposit (CDs) let you lock your money away for a set period (three months to five years, for example) in exchange for a may provide interest rate that is usually higher than a savings account.

Specific account names, minimum deposit requirements, and interest rates change over time. You can view current offerings on Synovus's website or call a branch to ask about accounts that fit your needs.

How Synovus compares to other banks

Synovus is a mid-sized regional bank. This means it is larger than a small local bank but smaller than national giants like Chase or Bank of America. The advantage of a regional bank is that it often has more local decision-making and may offer better customer service at the branch level. The disadvantage is fewer branches and less name recognition if you move out of the Southeast.

Online-only banks like Ally or Marcus typically offer higher interest rates on savings accounts because they have no physical branches to maintain. National banks like Chase offer more branches and ATMs nationwide. Local community banks may offer more personalized service but have fewer locations. Your choice depends on whether you value branch access, interest rates, or convenience more.

FDIC insurance and account safety

Synovus is an FDIC-insured bank, which means the Federal Deposit Insurance Corporation protects your deposits. If Synovus were to fail, the FDIC would reimburse you up to $250,000 per account type per bank. This protection applies to checking accounts, savings accounts, and CDs separately, so if you have $200,000 in checking and $200,000 in savings at Synovus, both are fully protected.

This insurance is automatic—you do not need to sign up for it or pay for it. It is one reason why banking at an FDIC-insured institution like Synovus is safer than keeping large amounts of cash at home or investing in uninsured products.

How to open an account at Synovus

You can open a Synovus account online through their website or in person at a branch. Online applications typically take 10 to 15 minutes. You will need a government-issued ID, your Social Security number, and an initial deposit (the amount varies by account type). Some accounts require a minimum opening deposit of $25 or $100, while others may require more.

Once your account is open, you will receive a debit card in the mail within 7 to 10 business days. You can start using online banking and mobile banking when ready. If you open in person at a branch, you may be able to get a temporary debit card on the spot.

Fees and what to watch for

Like most banks, Synovus charges fees for certain services. Common fees include overdraft fees (charged when you spend more than you have in your account), monthly maintenance fees (charged just for having the account), and fees for using ATMs outside the Synovus and Allpoint networks. Some accounts waive monthly fees if you keep a minimum balance or set up direct deposit.

Before opening an account, read the fee schedule on Synovus's website or ask at a branch. The specific fees and ways to avoid them vary by account type, so knowing what you will be charged helps you choose the right account for your situation.

Frequently Asked Questions

Is Synovus a safe bank to put my money in?

Yes. Synovus is FDIC-insured, which means deposits up to $250,000 per account type are protected by the federal government. The bank is also regulated by banking authorities and is publicly traded, meaning its financial health is publicly reported.

Can I bank with Synovus if I do not live in the Southeast?

You can open an account online and use online and mobile banking from anywhere. However, you will not have access to a physical branch. If you need to deposit checks or withdraw cash in person regularly, this may be inconvenient.

What is the difference between a Synovus checking account and a savings account?

Checking accounts are designed for frequent transactions—you get a debit card and can write checks. Savings accounts earn interest on your balance but typically limit how often you can withdraw. Choose checking for everyday spending and savings for money you want to set aside and grow.

How much money do I need to open a Synovus account?

Minimum opening deposits vary by account type, typically ranging from $25 to $100 or more. Check Synovus's website or call a branch to find out the requirement for the specific account you are interested in.

Does Synovus charge monthly fees?

Many Synovus accounts charge a monthly maintenance fee, but some waive it if you keep a minimum balance or set up direct deposit. Review the fee schedule for your account type before opening to understand what you will be charged.