Synchrony Bank's Optimizer Plus is an online bank that offers a wide array of savings products. As of this writing, the bank also offers competitive annual percentage yields and rewards for customer loyalty. Formerly known as GE Capital Retail Bank, it enjoys deposit coverage of up to $250,000 per depositor from the Federal Deposit Insurance Corp.
All Optimizer Plus accounts, transactions and tax statements are accessible and viewable on the Internet around the clock or over the phone through a banking adviser.
Here are the available accounts as of this writing:
Opening an Optimizer Plus account requires a valid U.S. residence and Social Security number or tax identification number, along with a U.S. driver's license, state identification number or military identification. An application can be filled out and submitted online. Deposits can be made by transferring funds, arranging a direct deposit, sending a check or making a wire transfer.
Optimizer Plus also has a rewards program called Optimizer Plus Perks. Customers are automatically enrolled based on their account balances or length of time they've been with the bank, whichever is greater. Once enrolled, they're eligible for the benefits associated with their tier.
For instance, account holders with less than $10,000 in their account who have been with the bank for less than a year can receive ATM fee reimbursements for their money market and savings accounts. Perks at the other levels include travel benefits, such as hotel and car rental discounts.
For more on Synchrony Bank's Optimizer Plus' current rates and terms, please review the table below.