Merchant Machine

Cynergy Bank VS HSBC Kinetic: Business Banking Review & Fee Comparison


By: Ian Wright | Last Updated:

Is Cynergy Bank or HSBC Kinetic better for your small business?

Below we look at both Cynergy Bank and HSBC Kinetic 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.

Cynergy Bank Homepage
Cynergy Bank Homepage

HSBC Kinetic Homepage
HSBC Kinetic Homepage
 

Cynergy Bank vs HSBC Kinetic Trustpilot Reviews

Cynergy BankHSBC Kinetic
Trustpilot Review Score (out of 5)41.9
Percent 5-Star Reviews58%0%
Percent 1- Star Reviews27%100%
Total Number of Reviews2,23513
Sources:
https://www.trustpilot.com/review/cynergybank.co.uk
https://www.trustpilot.com/review/hsbckinetic.co.uk

Cynergy Bank vs HSBC Kinetic App Reviews

Cynergy BankHSBC Kinetic
iPhone Review Score (out of 5)1.54.8
Number of iPhone Reviews35015,000
Android Review Score (out of 5)1.74.7
Number of Android Reviews4494,000
Sources:
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
https://apps.apple.com/gb/app/hsbc-kinetic/id1457310350

Cynergy Bank vs HSBC Kinetic Account Fees & Charges

Cynergy BankHSBC Kinetic
Free Business Bank AccountYesYes
Free Business Account Term Length12 Months12 Months
Cheapest Monthly Account Fee£25£6.50
Most Expensive Monthly Account Fee£25£6.50
Electronic Payment Cost (in/out)35pFree
Cash Payments Cost (in/out)65p per £1001.10%
Cheques (in/out)30p / 78p50p per cheque
CHAPS Payments Cost£25£17
SEPA Payments Cost£624p

Cynergy Bank vs HSBC Kinetic Business Savings Rates

Cynergy BankHSBC Kinetic
Types of Business Savings AccountsBusiness SaverInstant access, 30+ day, 60+ day
Lowest Savings Rate (AER)4.00%1.94%
Maximum Savings Rate (AER)4.00%2.02%
Minimum Savings Amount£1No
Interest Paid On Foreign CurrenciesYesYes
 

Cynergy Bank vs HSBC Kinetic Account Opening Times

Cynergy BankHSBC Kinetic
Can You Apply Online?YesYes
How Long Does Opening An
Account Typically Take?		15 minutes48 hours
Do They Check Your Credit?YesYes
Current Account Switch ServiceYesYes

Cynergy Bank vs HSBC Kinetic Features & Account Types

Cynergy Bank Account Types
Cynergy Bank Features & Account Types

HSBC Kinetic Account Types
HSBC Kinetic Features & Account Types


Cynergy BankHSBC Kinetic
Business Current AccountYesYes
Business Savings AccountYesYes
Business Credit CardYesYes
Business OverdraftYesYes
Accounts For StartupsYesYes
Accounts For CharitiesNoNo
Accounts For Sole TradersYesYes
Joint Business Accounts AvailableYesNo
Card TypeVisaVisa
Online BankingYesYes
Mobile BankingYesYes
In Person/Branch BankingYesNo
Branch LocationsLondon, Redhill, Birmingham, Manchester and GlasgowCan use HSBC branches for some services

Cynergy Bank vs HSBC Kinetic Customer Support Options

Cynergy BankHSBC Kinetic
Phone Support AvailableYesYes
Email Support AvailableYesYes
App Based Support YesYes
Web Based SupportYesYes
In person Customer SupportYesNo

Cynergy Bank vs HSBC Kinetic Foreign Currency Accounts

Cynergy BankHSBC Kinetic
US Dollar (USD) Bank AccountsNoYes
Euro (EUR) Bank AccountsYesYes
Other Currencies Available:No
  • Brazilian real (BRL)
  • Canadian dollar (CAD)
  • Chilean peso (CLP)
  • Colombian peso (COP)
  • Mexican peso (MXN)
  • Chinese yuan (CNY)
  • Hong Kong dollar (HKD)
  • Indian rupee (INR)
  • Japanese yen (JPY)
  • Korean won (KRW)
  • Malaysian ringgit (MYR)
  • Singapore dollar (SGD)
  • Thai baht (THB)
  • Austrian euro (EUR)
  • Belgian euro (EUR)
  • Bulgarian lev (BGN)
  • Croatian kuna (HRK)
  • Czech koruna (CZK)
  • Danish krone (DKK)
  • Estonian euro (EUR)
  • Finnish euro (EUR)
  • French euro (EUR)
  • German euro (EUR)
  • Greek euro (EUR)
  • Hungarian forint (HUF)
  • Icelandic króna (ISK)
  • Irish euro (EUR)
  • Italian euro (EUR)
  • Latvian euro (EUR)
  • Lithuanian euro (EUR)
  • Maltese euro (EUR)
  • Dutch euro (EUR)
  • Polish zloty (PLN)
  • Portuguese euro (EUR)
  • Romanian leu (RON)
  • Slovak euro (EUR)
  • Slovenian euro (EUR)
  • Spanish euro (EUR)
  • Australian dollar (AUD)
  • New Zealand dollar (NZD)

Other Business Services From Cynergy Bank and HSBC Kinetic

Cynergy Bank Account Types
Other Cynergy Bank Services

HSBC Kinetic Account Types
Other HSBC Kinetic Services


Cynergy BankHSBC Kinetic
Business LoansYesYes
Commercial MortgagesYesNo
Invoice FinancingYesNo
International PaymentsYesYes
Merchant Payment ServicesNoYes
Card MachinesNoNo
Free Accounting SoftwareNoNo

Cynergy Bank vs HSBC Kinetic Banking Basics

Cynergy BankHSBC Kinetic
Bank TypeChallengerHigh Street/Challenger
FSCS ProtectionYes, up to £85,000Yes, up to £85,000
FCA Number575105765112
WebsiteCynergy Bank WebsiteHSBC Kinetic Website

Common Comparison Questions

Does Cynergy Bank or HSBC Kinetic have better customer reviews?

Cynergy Bank scores 4 out of 5 based 2,235 Trustpilot reviews. Of these reviews 58% are 5-star and 27% are 1-star.

Whereas, HSBC Kinetic scores 1.9 out of 5 based 13 Trustpilot reviews. Of which 0% are 5-star and 100% are 1-star.

Does Cynergy Bank or HSBC Kinetic have a better App?

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.

In comparison, HSBC Kinetic’s iPhone App is rated 4.8 out of 5 based on 15,000 reviews. And it’s Android App is rated 4.7 out of 5 based on 4,000 reviews.

Does Cynergy Bank or HSBC Kinetic have better business savings rates?

Cynergy Bank offers the following types of business savings accounts: Business Saver with interest rates ranging from 4.00% to 4.00%. (AER)

In contrast, HSBC Kinetic offers Instant access, 30+ day, 60+ day accounts with interest rates ranging from 1.94% to 2.02% (AER).

See Other Comparisons:
Cynergy Bank vs CardOneMoney
Cynergy Bank vs Fair Everywhere
Cynergy Bank vs Countingup
Cynergy Bank vs State Bank of India (UK)
Cynergy Bank vs Charity Bank


For other business bank accounts see our guide here.