Is Bank of Scotland or Cynergy Bank better for your small business?
Below we look at both Bank of Scotland and Cynergy Bank reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
Bank of Scotland vs Cynergy Bank Trustpilot Reviews
| Bank of Scotland | Cynergy Bank | |
| Trustpilot Review Score (out of 5) | 1.6 | 4 |
| Percent 5-Star Reviews | 12% | 58% |
| Percent 1- Star Reviews | 80% | 27% |
| Total Number of Reviews | 649 | 2,235 |
https://www.trustpilot.com/review/www.bankofscotland.co.uk
https://www.trustpilot.com/review/cynergybank.co.uk
Bank of Scotland vs Cynergy Bank App Reviews
| Bank of Scotland | Cynergy Bank | |
| iPhone Review Score (out of 5) | 4.8 | 1.5 |
| Number of iPhone Reviews | 269,400 | 350 |
| Android Review Score (out of 5) | 4.5 | 1.7 |
| Number of Android Reviews | 44,100 | 449 |
https://apps.apple.com/gb/app/bank-of-scotland-mobile-bank/id485728109
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
Bank of Scotland vs Cynergy Bank Account Fees & Charges
| Bank of Scotland | Cynergy Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 12 Months |
| Cheapest Monthly Account Fee | £8.50 | £25 |
| Most Expensive Monthly Account Fee | £8.50 | £25 |
| Electronic Payment Cost (in/out) | Free / 20p | 35p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 65p per £100 |
| Cheques (in/out) | 85p per cheque | 30p / 78p |
| CHAPS Payments Cost | £30 | £25 |
| SEPA Payments Cost | £5 | £6 |
Bank of Scotland vs Cynergy Bank Business Savings Rates
| Bank of Scotland | Cynergy Bank | |
| Types of Business Savings Accounts | Fixed Term Deposit, Notice Accounts, Instant Access Account | Business Saver |
| Lowest Savings Rate (AER) | 1.31% | 4.00% |
| Maximum Savings Rate (AER) | 4.37% | 4.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Bank of Scotland vs Cynergy Bank Account Opening Times
| Bank of Scotland | Cynergy Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 15 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Bank of Scotland vs Cynergy Bank Features & Account Types
| Bank of Scotland | Cynergy Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Scotland only | London, Redhill, Birmingham, Manchester and Glasgow |
Bank of Scotland vs Cynergy Bank Customer Support Options
| Bank of Scotland | Cynergy Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
Bank of Scotland vs Cynergy Bank Foreign Currency Accounts
| Bank of Scotland | Cynergy Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
| No |
Other Business Services From Bank of Scotland and Cynergy Bank
| Bank of Scotland | Cynergy Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Bank of Scotland vs Cynergy Bank Banking Basics
| Bank of Scotland | Cynergy Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 169628 | 575105 |
| Website | Bank of Scotland Website | Cynergy Bank Website |
Common Comparison Questions
Does Bank of Scotland or Cynergy Bank have better customer reviews?
Bank of Scotland scores 1.6 out of 5 based 649 Trustpilot reviews. Of these reviews 12% are 5-star and 80% are 1-star.
Whereas, Cynergy Bank scores 4 out of 5 based 2,235 Trustpilot reviews. Of which 58% are 5-star and 27% are 1-star.
Does Bank of Scotland or Cynergy Bank have a better App?
Bank of Scotland’s iPhone App is rated 4.8 out of 5 based on 269,400 reviews. And it’s Android App is rated 4.5 out of 5 based on 44,100 reviews.
In comparison, Cynergy Bank’s iPhone App is rated 1.5 out of 5 based on 350 reviews. And it’s Android App is rated 1.7 out of 5 based on 449 reviews.
Does Bank of Scotland or Cynergy Bank have better business savings rates?
Bank of Scotland offers the following types of business savings accounts: Fixed Term Deposit, Notice Accounts, Instant Access Account with interest rates ranging from 1.31% to 4.37%. (AER)
In contrast, Cynergy Bank offers Business Saver accounts with interest rates ranging from 4.00% to 4.00% (AER).
See Other Comparisons:Bank of Scotland vs Zempler Bank (formerly Cashplus)
Bank of Scotland vs Co-operative Bank
Bank of Scotland vs Aldermore
Bank of Scotland vs Handelsbanken
Bank of Scotland vs Anna
For other business bank accounts see our guide here.