Synchrony Bank

Name:Synchrony Bank
Full Service Brick and Mortar Office
Review:31 client reviews
Location:200 Crossing Blvd
Bridgewater, NJ 08807

Somerset County
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Phone:866-226-5638
Branch Deposit:$733,013,000
FDIC Cert:#27314
Established:2001-05-14


The Bank

Name:Synchrony Bank
Concentration:Credit-Card Specialization
Established:1988-08-01
FDIC Insurance:1988-08-01
Charter Class:Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
# of Branches:5, view all, view on map
Website:WWW.SYNCHRONYFINANCIAL.COM
Total Assets:$73,668,489,000
Total Deposits:$56,205,604,000
Total Equity Capital:$10,049,048,000
Total Domestic Office Deposits:$56,205,604,000
Net Income:$737,128,000
Quarterly Net Income:$406,170,000
Return on Assets:2%
Quarterly Return on Assets:2%
Return on Equity:15%
Quarterly Return on Equity:16%
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Client Review

31 client reviews of Synchrony Bank scored 1.5 out of 5.

Synchrony account placed on hold every month!
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by sillgate, May. 28, 2017

Every month, our account is placed on hold.  We have to call and get it fixed, only to have it happen again the next month.  I spoke with a rep last month.  She assured me that the issue would not happen again.  She told me to contact the post office because the bank was unable to send any mail to me.  We've lived at our current address for 3 years, and this issue started about 1 year ago.  No other bank, utility company, etc. has an issue sending mail.  The rep said that because our old address was on file, the post office was messing it up.  But our old address was not an issue for the first 2 years of living in our new place.  Additionally, our current address is the only one on file in our profile.  The bank keeps insisting that it's a post office issue, even though they have our current address on file.  The post office does not forward mail for 3 years.  And again, this was not an issue for the first 2 years of living in our new place.  It is clearly an internal issue and has nothing to do with the post office.  It then takes about 72 hours (3 business days) to remove the hold.  So we only have access to our money for about 2-3 weeks/month, and then we have to go through the process again.  Last month, the bank rep was placing the blame entirely on the post office and when I explained why it was an internal issue, she looked into it and found that it was indeed an internal issue.  I was then laughed at when I asked whether this would be the last time we were locked out.  Of course it would be, she said, because this rep was doing it right...but she wasn't.  We will be going into the bank on Tuesday, withdrawing all of our money, and finding a new bank.  This is unacceptable.  1 month, sure.  2 months, ok, maybe I understand.  But every month for a year, after it had been fine for 2 years...and not being taken seriously?  Not ok.  They refuse to accept any responsibility.  We would have been willing to go into the bank, talk to a supervisor to make sure the issue was finally resolved, and keep our money in there.  But because of the way we were treated, they have lost our business.  It is not only inconvenient, but it makes it hard to pay bills and other things when we get locked out every month.

* this reviewer has be with this bank for 1 - 3 years
* this reviewer had 1 - 2 banks before.
* this review was made on Synchrony Bank, Merriam Customer Service Call Center at Shawnee, KS
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Synchrony Bank and Living Spaces
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by sweetschera, Aug. 01, 2015

After nearly two years of payments thinking I had almost paid off my furniture from living spaces I found out I missed the interest free deadline. I now own Synchrony Bank $3079 on Items that orginal cost me $2400. I probably would not have had a problem with that until I realized yesterday that I have paid $1923. and still have a balance that Exceed the orginal cost of the furniture by $700.00. Last month my  Balance was $3079 with interest and finacne charges I paid $150 and guess what my balance is now? That's right! $3079 Now please keep in mind The $1923 of payments I made over the two year period did not apply to my principal at all. Basic synchrony took the $1923 and charged me an additional $700 plus penalties just to close this account which I am trying to do now. I have had several account with GE CAPITAL AND NEVER ENCOUNTERED THIS PROBLEM PLEASE BEWARE!!!!

* this reviewer has be with this bank for >10 years
* this reviewer had 1 - 2 banks before.
* this review was made on Synchrony Bank, Synchrony Bank at Draper, UT
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Would not have believed it could get THIS bad
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by Anna01, Mar. 13, 2015

Synchrony Bank took over my 2 charge accounts at HH Gregg and Lazy Boy (from GE Capitol)Because this review can only hold 10000 charact. will summarize:
1) Bank needs English speaking reps. Not pidgeon not Engrish
2) Bank needs to get its logistics straight so printed statements match on line info as well as automated system
3) Bank makes frequent basic data entry mistakes but will not owe up to it EVEN if and when you as a customer involve your personal bank to help you get them straight- my credit is seriously tarnished due to Synchrony Bank (ex: printed statement and automated system show payments have been received.. telephone calls FROM Synchrony (start at 6 AM and go thru 10PM landline and cell) say otherwise...)
4) When calling the automated system, it immediately LIES: it states that "this is the most current info avail. to the system and to the reps." and , it warns "that transactions that occurred in the last 24 hours may not be reflected".  The LIE= it can take (and has!) 5 days (that is 120 hours, not 24 hours) for the reps or the system to acknowledge receipting and receiving a payment. So those phone calls on all your phones all day and night are made even after (up to 5 days after) they have receipted and received payments in full.

* this reviewer has be with this bank for <6 months
* this reviewer had 1 - 2 banks before.
* this review was made on Synchrony Bank, Synchrony Bank at Draper, UT
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by BlackCoffee 2015-03-16 16:06:07
Bank compiles unauthorized credit reports resulting in lowering the FICO score. An unethical conduct without consumer acknowledgement.

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