Is Cynergy Bank or Monese better for your small business?
Below we look at both Cynergy Bank and Monese 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 vs Monese Trustpilot Reviews
| Cynergy Bank | Monese | |
| Trustpilot Review Score (out of 5) | 4 | 4.3 |
| Percent 5-Star Reviews | 58% | 68% |
| Percent 1- Star Reviews | 27% | 17% |
| Total Number of Reviews | 2,235 | 40,330 |
https://www.trustpilot.com/review/cynergybank.co.uk
https://www.trustpilot.com/review/www.monese.com
Cynergy Bank vs Monese App Reviews
| Cynergy Bank | Monese | |
| iPhone Review Score (out of 5) | 1.5 | 4.8 |
| Number of iPhone Reviews | 350 | 68,100 |
| Android Review Score (out of 5) | 1.7 | 4.5 |
| Number of Android Reviews | 449 | 101,000 |
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
https://apps.apple.com/gb/app/monese-a-banking-alternative/id1102793407
Cynergy Bank vs Monese Account Fees & Charges
| Cynergy Bank | Monese | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £25 | £5.95 |
| Most Expensive Monthly Account Fee | £25 | £14.95 |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | 65p per £100 | 3.5% / 2% |
| Cheques (in/out) | 30p / 78p | Free |
| CHAPS Payments Cost | £25 | No |
| SEPA Payments Cost | £6 | No |
Cynergy Bank vs Monese Business Savings Rates
| Cynergy Bank | Monese | |
| Types of Business Savings Accounts | Business Saver | None |
| Lowest Savings Rate (AER) | 4.00% | NA |
| Maximum Savings Rate (AER) | 4.00% | NA |
| Minimum Savings Amount | £1 | NA |
| Interest Paid On Foreign Currencies | Yes | Yes |
Cynergy Bank vs Monese Account Opening Times
| Cynergy Bank | Monese | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 15 minutes | 1 day |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | Yes |
Cynergy Bank vs Monese Features & Account Types
| Cynergy Bank | Monese | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | No |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | No |
| Branch Locations | London, Redhill, Birmingham, Manchester and Glasgow | None, online only |
Cynergy Bank vs Monese Customer Support Options
| Cynergy Bank | Monese | |
| 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 | No |
Cynergy Bank vs Monese Foreign Currency Accounts
| Cynergy Bank | Monese | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Cynergy Bank and Monese
| Cynergy Bank | Monese | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Cynergy Bank vs Monese Banking Basics
| Cynergy Bank | Monese | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 575105 | 900960 |
| Website | Cynergy Bank Website | Monese Website |
Common Comparison Questions
Does Cynergy Bank or Monese 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, Monese scores 4.3 out of 5 based 40,330 Trustpilot reviews. Of which 68% are 5-star and 17% are 1-star.
Does Cynergy Bank or Monese 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, Monese’s iPhone App is rated 4.8 out of 5 based on 68,100 reviews. And it’s Android App is rated 4.5 out of 5 based on 101,000 reviews.
Does Cynergy Bank or Monese 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, Monese offers None accounts with interest rates ranging from NA to NA (AER).
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For other business bank accounts see our guide here.