Synovus charges a monthly maintenance fee on most checking accounts, but you can avoid it
Synovus charges a monthly maintenance fee of $12 on most personal checking accounts, but the fee is waived if you meet one of several conditions. The most common way to avoid the fee is to keep a minimum daily balance—usually $500 to $1,500 depending on the account type—or to set up direct deposit. Some accounts waive the fee if you maintain a linked savings account or use your debit card a certain number of times per month.
Synovus offers different checking account products, and each has its own fee structure and waiver requirements. Before opening an account, you should know which conditions apply to the specific account you're considering, because the fee waivers differ between them.
Key Takeaways
- Synovus charges $12 per month on most checking accounts, but this fee is waived if you maintain a minimum balance or set up direct deposit.
- The minimum balance requirement varies by account type, ranging from $500 to $1,500 in some cases.
- Direct deposit is one of the easiest ways to waive the monthly fee on Synovus checking accounts.
- Synovus charges additional fees for overdrafts, ATM use outside their network, and certain transactions, separate from the monthly maintenance fee.
How to waive the $12 monthly maintenance fee
Synovus offers several paths to avoid paying the monthly fee. The most straightforward is setting up direct deposit—if your paycheck or government payment goes directly into your Synovus account, the fee is waived automatically. You do not need to maintain a specific balance when direct deposit is active.
If direct deposit is not an option for you, you can waive the fee by keeping a minimum daily balance. The required amount depends on which Synovus checking account you hold. Standard accounts typically require $500 to $1,500 in daily balance. Some accounts also waive the fee if you link a savings account with a minimum balance or use your debit card a set number of times each month—usually 10 to 15 transactions.
You should confirm the exact waiver conditions for your specific account type by logging into your online banking portal or calling Synovus customer service, because the requirements can change and vary by branch location.
Other Synovus checking account fees beyond the monthly charge
The $12 monthly maintenance fee is separate from other charges Synovus may impose. Overdraft fees apply when you spend more than your available balance—Synovus typically charges $35 per overdraft transaction, though this can vary. If you overdraw your account multiple times in a single day, you may be charged multiple overdraft fees.
Out-of-network ATM fees are charged when you withdraw cash from an ATM that is not part of the Synovus network. These fees are usually $2 to $3 per transaction. Synovus has its own ATM network, and using those machines is free for account holders.
Other potential charges include fees for wire transfers, stop payments, cashier's checks, and returned deposits. Some of these fees apply only when you request the service; others apply only if a transaction fails or is rejected. Review Synovus's fee schedule on their website or ask at your branch for a complete list of charges that may apply to your account.
Synovus account types and their fee structures
Synovus offers several checking account options, and the monthly fee and waiver requirements differ between them. The most common account is their standard checking product, which carries the $12 monthly fee. Some branches also offer a basic or student checking account with different terms.
Premium or wealth management accounts may have higher monthly fees but include additional benefits like higher interest rates on linked savings, fee waivers for certain services, or access to a dedicated banker. If you maintain a large balance or use multiple Synovus products, a premium account might offset its higher fee through other benefits.
The best way to understand which account fits your situation is to visit a Synovus branch or call their customer service line. They can walk you through the fee structure and waiver conditions for each account type and help you choose based on your expected balance and transaction patterns.
What happens if you do not meet the fee waiver conditions
If you do not set up direct deposit and your daily balance falls below the minimum requirement, Synovus will charge the $12 monthly maintenance fee to your account. This fee is deducted automatically, usually on a specific day each month—often the first or last day of the billing cycle.
If your account balance is very low when the fee is charged, the fee itself could trigger an overdraft. For example, if you have $5 in your account and the $12 fee is deducted, you would be $7 overdrawn and subject to an additional $35 overdraft fee. This can create a cycle of fees that quickly depletes your balance.
To avoid this situation, monitor your balance regularly and set up direct deposit if possible, or maintain the minimum balance required by your account type. Many people find it easier to arrange direct deposit—even a small recurring transfer from another bank counts—than to maintain a specific balance.
How Synovus fees compare to other banks
Synovus's $12 monthly checking fee is in the middle range compared to other regional and national banks. Some banks charge no monthly fee at all, while others charge $15 to $25 per month. The key difference is usually the waiver conditions—banks with no monthly fee often require no minimum balance or direct deposit, while banks with higher fees may require larger balances or more frequent debit card use to waive them.
Online banks and credit unions often have lower or no monthly fees, though they may have fewer physical branches and ATMs. If you value in-person banking and live in an area where Synovus has branches, the $12 fee may be worth it to you. If you rarely visit a branch and can bank entirely online, you might find a lower-cost option elsewhere.
The real cost of a checking account depends on how you use it. If you can easily meet one of Synovus's fee waiver conditions—especially direct deposit—the monthly fee becomes irrelevant. If you cannot meet those conditions, compare the $12 monthly fee plus any overdraft or ATM fees you might incur against what you would pay at another bank.
Frequently Asked Questions
Can I waive the Synovus checking fee with just a savings account?
Some Synovus accounts waive the checking fee if you maintain a linked savings account with a minimum balance, but this varies by account type. Contact Synovus directly to confirm whether your specific checking account offers this waiver option and what the minimum savings balance must be.
Does Synovus charge a fee if I only use my debit card and never visit a branch?
No, as long as you meet one of the fee waiver conditions. If you use your debit card frequently enough to meet the transaction requirement (usually 10 to 15 transactions per month) or maintain the minimum balance, the monthly fee is waived. Direct deposit is the easiest waiver if you receive regular paychecks or benefits.
What is the overdraft fee at Synovus?
Synovus typically charges $35 per overdraft transaction, though this amount can vary. If you overdraw multiple times in one day, you may be charged multiple overdraft fees. Some accounts include overdraft protection, which links to a savings account or credit line to cover overdrafts automatically.
Are there any Synovus checking accounts with no monthly fee?
Synovus's standard checking accounts all carry a monthly fee, but that fee is waived if you meet the conditions for your account type. Some banks and credit unions offer checking accounts with no monthly fee under any circumstances, so if avoiding fees entirely is your priority, you may want to compare options.
How do I find out the exact fee waiver requirements for my account?
Log into your Synovus online banking account and look for the account details or fee schedule section, or call the customer service number on the back of your debit card. You can also visit a Synovus branch in person and ask a banker to review your account's specific fee structure and waiver options.