Is Cynergy Bank or Reliance Bank better for your small business?
Below we look at both Cynergy Bank and Reliance 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 Reliance Bank Trustpilot Reviews
| Cynergy Bank | Reliance Bank | |
| Trustpilot Review Score (out of 5) | 4 | 3.4 |
| Percent 5-Star Reviews | 58% | 25% |
| Percent 1- Star Reviews | 27% | 25% |
| Total Number of Reviews | 2,235 | 4 |
https://www.trustpilot.com/review/cynergybank.co.uk
https://www.trustpilot.com/review/www.reliancebankltd.com
Cynergy Bank vs Reliance Bank App Reviews
| Cynergy Bank | Reliance Bank | |
| iPhone Review Score (out of 5) | 1.5 | 4.7 |
| Number of iPhone Reviews | 350 | 451 |
| Android Review Score (out of 5) | 1.7 | 4 |
| Number of Android Reviews | 449 | 144 |
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
https://apps.apple.com/us/app/reliance-bank-mobile-banking/id1050676219
Cynergy Bank vs Reliance Bank Account Fees & Charges
| Cynergy Bank | Reliance Bank | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £25 | £7.50 |
| Most Expensive Monthly Account Fee | £25 | £7.50 |
| Electronic Payment Cost (in/out) | 35p | 25p |
| Cash Payments Cost (in/out) | 65p per £100 | 30p / 25p per £100 |
| Cheques (in/out) | 30p / 78p | 30p / 25p |
| CHAPS Payments Cost | £25 | £15 |
| SEPA Payments Cost | £6 | 25p |
Cynergy Bank vs Reliance Bank Business Savings Rates
| Cynergy Bank | Reliance Bank | |
| Types of Business Savings Accounts | Business Saver | Instant Access, Fixed Term, Notice Savings |
| Lowest Savings Rate (AER) | 4.00% | 2.15% |
| Maximum Savings Rate (AER) | 4.00% | 4.40% |
| Minimum Savings Amount | £1 | £1,000 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Cynergy Bank vs Reliance Bank Account Opening Times
| Cynergy Bank | Reliance Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 15 minutes | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Cynergy Bank vs Reliance Bank Features & Account Types
| Cynergy Bank | Reliance Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | No |
| Accounts For Charities | No | Yes |
| 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 | Yes |
| Branch Locations | London, Redhill, Birmingham, Manchester and Glasgow | London |
Cynergy Bank vs Reliance Bank Customer Support Options
| Cynergy Bank | Reliance 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 |
Cynergy Bank vs Reliance Bank Foreign Currency Accounts
| Cynergy Bank | Reliance 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 Reliance Bank
| Cynergy Bank | Reliance Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | No | No |
| Free Accounting Software | No | No |
Cynergy Bank vs Reliance Bank Banking Basics
| Cynergy Bank | Reliance Bank | |
| Bank Type | Challenger | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 575105 | 204537 |
| Website | Cynergy Bank Website | Reliance Bank Website |
Common Comparison Questions
Does Cynergy Bank or Reliance 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, Reliance Bank scores 3.4 out of 5 based 4 Trustpilot reviews. Of which 25% are 5-star and 25% are 1-star.
Does Cynergy Bank or Reliance 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, Reliance Bank’s iPhone App is rated 4.7 out of 5 based on 451 reviews. And it’s Android App is rated 4 out of 5 based on 144 reviews.
Does Cynergy Bank or Reliance 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, Reliance Bank offers Instant Access, Fixed Term, Notice Savings accounts with interest rates ranging from 2.15% to 4.40% (AER).
See Other Comparisons:Cynergy Bank vs SumUp Business Account
Cynergy Bank vs Cambridge & Counties Bank
Cynergy Bank vs Recognise Bank
Cynergy Bank vs Dudley Building Society
Cynergy Bank vs MyPOS
For other business bank accounts see our guide here.