We will make every effort to protect you from fraud and educate you about the risks that can jeopardize your financial future, particularly data breaches that can lead to identity theft. With security, we always set our sights higher.
Please download our PDF or view our video below to learn more about how to prevent Identity Theft.
Identity Theft is a crime in which someone wrongfully obtains access to your personal information and uses it in a way that involves fraud or deception, usually for economic gain.
Synchrony Bank provides deposit account holders with complimentary Identity Theft Resolution Services through CyberScout™ just for banking with us. If you are ever a victim of Identity Theft, you'll have the assistance you need to help you get your life back to normal as quickly and easily as possible.
You should regularly check your statements or online history for unknown activity. If you identify transactions that are suspicious, you should immediately report the activity to the bank.
Phishers use false email communications in an attempt to trick you into giving them your personal and account information for the purposes of identity theft.
Phishers use email communications to try to get you to reveal personal information. These emails falsely claim to be from a business or organization that you may deal with - for example, an Internet service provider, online payment service, government agency, or even a bank
How you can help us prevent phishers from taking advantage of you:
What you shouldn't do if you think you are being phished:
It's important to protect your account with a strong, secure password. If you're changing your password, change it for the better.
Download this PDF or watch our video to learn more about creating strong passwords.
Synchrony Bank provides you with an added layer of security that gives us another way to verify your identity — helping to ensure that only you have access to your accounts.
Multi-factor authentication is an added layer of security that Synchrony Bank brings to your online banking experience. This additional layer gives us another way to verify your identity - helping to ensure that only you have access to your accounts. When you register for online access to your account, change a password, or other activities, you will be requested to pass a one-time passcode or OTP. A 4-digit code will be sent to your mobile device in a text message or your home phone number via voice.
Synchrony Bank is a member of the Federal Deposit Insurance Corporation (FDIC) and your deposits are insured up to $250,000 per depositor, per insured bank, for each ownership category.
How much FDIC insurance can I get?
There is no need for you to apply for FDIC insurance or even to request it. Coverage is automatic, because Synchrony Bank is an FDIC-insured bank.
To ensure that your funds are fully protected, you should understand your deposit insurance coverage limits. The FDIC provides separate insurance coverage for deposits held in different ownership categories such as single accounts, joint accounts, Individual Retirement Accounts (IRAs) and trust accounts.
To calculate your FDIC insurance, click here
Basic FDIC Deposit Insurance Coverage Limits
|Single Accounts (owned by one person)||$250,000 per owner|
|Joint Accounts (two or more persons)||$250,000 per co-owner|
|IRAs and certain other retirement accounts||$250,000 per owner|
|Trust Accounts||$250,000 per owner per beneficiary subject to specific limitations and requirements|
Deposit insurance coverage limits refer to the aggregate of all deposits that an account holder (or account holders) has in each ownership category at the same FDIC-insured bank. The listing above shows only the most common ownership categories and assumes that all FDIC requirements are met.
For more information, please visit the FDIC Insurance website.
Always be aware of the risk of adding additional people to your account - especially people you haven’t known for a long time. With the increase of online and mobile banking, there are also new scams that target your accounts.
Sweetheart scams - the development of online relationships that may open the door to Identity Theft. Always make sure that the people you add to your account have earned your complete trust.
Tech Support scams - a technical support representative calls claiming there is an issue with your computer, such as a system error that needs to be fixed, software that needs to be updated, or to confirm your identify. A request for remote access is made and once provided they may install malicious software, change settings, and steal financial information. A request for payment of services may also be demanded.
Lottery scams - receipt of notification that you have won a lottery or sweepstakes which you have never heard of. These schemes will request payment upfront to collect winnings.
Phishing scams - you are requested to update information by clicking on a link. The bank will never send you an email requesting you to update your personal information. Always go to https://www.synchronybank.com in the alerts and documents tab, to see your messages.
Tax scams - scammers use Phishing tactics to trick consumers into providing information like a Social Security number, while posing as an inquirer for the Taxpayer Advocacy Panel, or an IRS agent threatening arrest if you don’t pay immediately.
Shred all documents with a credit card or Social Security number.
Be aware you are at risk from strangers and those closest to you. Over 90% of elder abuse is committed by the older person’s own family by the depletion of joint accounts, promising but not delivering care, and outright theft.
Every state operates an Adult Protective Services program which will investigate reports of abuse. Any relative, friend or caregiver that suspects abuse should make a report. Go to National Council on Aging for more information https://www.ncoa.org/
Synchrony Bank has taken several steps to help protect your bank account and financial transaction information by requiring the use of secure browsers, protecting account information with unique user ID and Password requirements, and deploying 24-hour network security monitoring.
Even though we use tools and security devices to increase your protection level, your actions play a key role in the overall security of your personal information.
How you can protect yourself
How Synchrony Bank helps protect your accounts