Is Cynergy Bank or PayPal Debit better for your small business?
Below we look at both Cynergy Bank and PayPal Debit 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 PayPal Debit Trustpilot Reviews
| Cynergy Bank | PayPal Debit | |
| Trustpilot Review Score (out of 5) | 4 | 1.4 |
| Percent 5-Star Reviews | 58% | 20% |
| Percent 1- Star Reviews | 27% | 73% |
| Total Number of Reviews | 2,235 | 5,277 |
https://www.trustpilot.com/review/cynergybank.co.uk
https://www.trustpilot.com/review/www.paypal.co.uk
Cynergy Bank vs PayPal Debit App Reviews
| Cynergy Bank | PayPal Debit | |
| iPhone Review Score (out of 5) | 1.5 | 4.1 |
| Number of iPhone Reviews | 350 | 1,600 |
| Android Review Score (out of 5) | 1.7 | 3.3 |
| Number of Android Reviews | 449 | 91,500 |
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
https://apps.apple.com/gb/app/paypal-business/id1053148887
Cynergy Bank vs PayPal Debit Account Fees & Charges
| Cynergy Bank | PayPal Debit | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £25 | No |
| Most Expensive Monthly Account Fee | £25 | No |
| Electronic Payment Cost (in/out) | 35p | Free |
| Cash Payments Cost (in/out) | 65p per £100 | Free |
| Cheques (in/out) | 30p / 78p | Free |
| CHAPS Payments Cost | £25 | No |
| SEPA Payments Cost | £6 | No |
Cynergy Bank vs PayPal Debit Business Savings Rates
| Cynergy Bank | PayPal Debit | |
| 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 PayPal Debit Account Opening Times
| Cynergy Bank | PayPal Debit | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 15 minutes | Few minutes |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | Yes |
Cynergy Bank vs PayPal Debit Features & Account Types
| Cynergy Bank | PayPal Debit | |
| 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 | No |
| 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 PayPal Debit Customer Support Options
| Cynergy Bank | PayPal Debit | |
| Phone Support Available | Yes | No |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | No |
Cynergy Bank vs PayPal Debit Foreign Currency Accounts
| Cynergy Bank | PayPal Debit | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Cynergy Bank and PayPal Debit
| Cynergy Bank | PayPal Debit | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | Yes |
| Free Accounting Software | No | Yes |
Cynergy Bank vs PayPal Debit Banking Basics
| Cynergy Bank | PayPal Debit | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | No |
| FCA Number | 575105 | 742277 |
| Website | Cynergy Bank Website | PayPal Debit Website |
Common Comparison Questions
Does Cynergy Bank or PayPal Debit 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, PayPal Debit scores 1.4 out of 5 based 5,277 Trustpilot reviews. Of which 20% are 5-star and 73% are 1-star.
Does Cynergy Bank or PayPal Debit 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, PayPal Debit’s iPhone App is rated 4.1 out of 5 based on 1,600 reviews. And it’s Android App is rated 3.3 out of 5 based on 91,500 reviews.
Does Cynergy Bank or PayPal Debit 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, PayPal Debit offers None accounts with interest rates ranging from NA to NA (AER).
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Cynergy Bank vs Unity Trust
Cynergy Bank vs United Trust Bank
For other business bank accounts see our guide here.