How To Pay Verizon Bill From Iphone

Synchrony Bank is a financial institution that offers an assortment of consumer banking products, including deposit accounts, retail credit cards and individual retirement accounts (IRAs). With some accounts, it's possible to pay your bills online. Here's what you need to know about paying your bills online through Synchrony Bank.

To make online payments, make sure that you have a deposit account that allows regular withdrawals. For example, the certificates of deposit (CDs) at Synchrony Bank incur a fee if you withdraw money before the term is complete. Instead, you should consider a money market account or high-yield savings account.

Both the money market account and the high-yield savings account permit six withdrawals each statement cycle. There's no fee if you exceed the number of withdrawals. However, if you make more than six withdrawals in a statement cycle consistently, Synchrony has the option to close the account for misuse.

Conventional Bill Pay Isn't an Option

Synchrony's money market account and high-yield savings account aren't meant to function like checking accounts. In exchange for a higher interest rate, you agree to limit the number of withdrawals you make during each statement cycle. Because the withdrawals have limits, conventional online bill pay via Synchrony's website isn't available for the Synchrony money market account and high-yield savings account.

You Can Pay Bills Via External Websites

One way to pay a bill using your Synchrony account is to go the website of the company whose bill you need to pay and input your account information. To use your account, you'll need to have the routing number and your account number on hand. You can usually access this information on your bank statements or by contacting a Synchrony representative.

If you have checks for your Synchrony money market account, you can find these numbers on your checks. The routing number is the first set of numbers, and the account number is the second number.

It's Possible to Transfer Your Funds to Another Bank Account

Another option to indirectly use your Synchrony account to pay bills is to transfer money from your Synchrony savings or money market account to your primary checking account at another banking institution. Synchrony allows you to directly transfer money to and from accounts at other banks. It may take three business days for the transfer to complete, though. Once the funds are in your checking account, you can pay bills online via that bank's bill pay service.

Synchrony Bank Offers a Debit Card to Its Customers

You can request a debit card for your Synchrony account. Not only does this card make it possible for you to withdraw money from an ATM, but it also lets you conduct point-of-sale (POS) transactions. These POS transactions do count against your monthly limit, but this option makes it simpler to pay bills. As long as the company you want to pay accepts debit cards, you can use your Synchrony card to pay that company's bills.