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Synchrony Bank is a good option for people who want a savings account or a money market account with strong interest rates. It lacks checking account products, which makes it less optimal as a one-stop banking choice.Is Synchrony Bank safe?
The answer to all these questions is this: Yes. Synchrony is a safe bank to bank with. For the most recent quarter, Synchrony Financial, the parent company of the bank announced Q4 2014 net earnings of $531 million. Most importantly, Synchrony Bank is a member of the FDIC: Federal Deposit Insurance Corporation.What company is Synchrony Bank?
Synchrony Bank was formerly known as GE Capital Retail Bank and changed its name to Synchrony Bank in June 2014. The company was founded in 1988 and is based in Draper, Utah. Synchrony Bank operates as a subsidiary of Synchrony Financial.