Is Cynergy Bank or Recognise Bank better for your small business?
Below we look at both Cynergy Bank and Recognise 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.
Cynergy Bank vs Recognise Bank Trustpilot Reviews
| Cynergy Bank | Recognise Bank | |
| Trustpilot Review Score (out of 5) | 4 | 4.6 |
| Percent 5-Star Reviews | 58% | 77% |
| Percent 1- Star Reviews | 27% | 5% |
| Total Number of Reviews | 2,235 | 539 |
https://www.trustpilot.com/review/cynergybank.co.uk
https://www.trustpilot.com/review/recognisebank.co.uk
Cynergy Bank vs Recognise Bank App Reviews
| Cynergy Bank | Recognise Bank | |
| iPhone Review Score (out of 5) | 1.5 | No Rating |
| Number of iPhone Reviews | 350 | No Reviews |
| Android Review Score (out of 5) | 1.7 | No Rating |
| Number of Android Reviews | 449 | No Reviews |
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
https://www.apple.com/uk/app-store/
Cynergy Bank vs Recognise Bank Account Fees & Charges
| Cynergy Bank | Recognise Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | No Limit |
| 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 | £15 |
| SEPA Payments Cost | £6 | 25p |
Cynergy Bank vs Recognise Bank Business Savings Rates
| Cynergy Bank | Recognise Bank | |
| Types of Business Savings Accounts | Business Saver | Notice account, Fixed Rate, Instant access |
| Lowest Savings Rate (AER) | 4.00% | 3.15% |
| Maximum Savings Rate (AER) | 4.00% | 4.50% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Cynergy Bank vs Recognise Bank Account Opening Times
| Cynergy Bank | Recognise Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 15 minutes | Few minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | No |
Cynergy Bank vs Recognise Bank Features & Account Types
| Cynergy Bank | Recognise Bank | |
| Business Current Account | Yes | No |
| Business Savings Account | Yes | Yes |
| 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 | None |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | No |
| In Person/Branch Banking | Yes | No |
| Branch Locations | London, Redhill, Birmingham, Manchester and Glasgow | None, online and phone only |
Cynergy Bank vs Recognise Bank Customer Support Options
| Cynergy Bank | Recognise Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | No |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | No |
Cynergy Bank vs Recognise Bank Foreign Currency Accounts
| Cynergy Bank | Recognise Bank | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Cynergy Bank and Recognise Bank
| Cynergy Bank | Recognise Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | No |
| Merchant Payment Services | No | No |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Cynergy Bank vs Recognise Bank Banking Basics
| Cynergy Bank | Recognise Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 575105 | 849404 |
| Website | Cynergy Bank Website | Recognise Bank Website |
Common Comparison Questions
Does Cynergy Bank or Recognise Bank 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, Recognise Bank scores 4.6 out of 5 based 539 Trustpilot reviews. Of which 77% are 5-star and 5% are 1-star.
Does Cynergy Bank or Recognise Bank 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, Recognise Bank’s iPhone App is rated No Rating out of 5 based on No Reviews reviews. And it’s Android App is rated No Rating out of 5 based on No Reviews reviews.
Does Cynergy Bank or Recognise Bank 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, Recognise Bank offers Notice account, Fixed Rate, Instant access accounts with interest rates ranging from 3.15% to 4.50% (AER).
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For other business bank accounts see our guide here.