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What does the Cynergy Bank business banking account offer?
The Cynergy Bank business bank account aims to provide everything you need to efficiently manage your business finances.
You’ll earn interest on your account balance (with a higher rate paid on balances up to £25,000 and a lower rate on balances exceeding this) and the account is also fee-free for the first 12 months (after that you’ll pay £5 a month). You can make international payments in up to 7 major currencies and have the option to open EUR or USD accounts.
In addition, you can customise workflows for transactions requiring multiple signatories.
Business savings accounts
As well as the business current account, Cynergy Bank offers a Business Saver account that can be opened with as little as £1. Up to 10 people in your business can manage the account and you can access your money whenever you need to.
Alternatively, you can open a notice savings account with notice periods of 95, 120 or 180 days. Rates are higher the more notice you can give. You must open the account with a minimum deposit of £5,000.
How to apply
You can apply for a business bank account or savings account online. You’ll be expected to provide basic details about yourself and your business. You will also need to provide photo ID and a selfie video.
Pros and cons
Pros
No monthly fee on business bank account for first 12 months
Interest paid on account balances
Option to open EUR or USD accounts
Range of savings account options
Cons
Fee applies to bank account after first 12 months
You’ll need to deposit at least £5,000 to open a notice savings account
Customer service information for Cynergy Bank
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Our verdict
Cynergy Bank’s business account offers the key things you would expect from a business bank account, but also includes foreign currency account options and pays interest on account balances. Plus, there’s a range of savings accounts to choose from so your business can stash away any surplus cash.
Get started by visiting Cynergy Bank’s website and sign up for an account. If you have read this review and decided that Cynergy Bank’s account is not for you, you can also compare other business bank accounts on the market.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
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Comparing bank accounts and highlighting useful features
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