Is HSBC or Cynergy Bank better for your small business?
Below we look at both HSBC and Cynergy 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.


HSBC vs Cynergy Bank Trustpilot Reviews
HSBC | Cynergy Bank | |
Trustpilot Review Score (out of 5) | 1.5 | 4 |
Percent 5-Star Reviews | 7% | 58% |
Percent 1- Star Reviews | 88% | 27% |
Total Number of Reviews | 8,399 | 2,235 |
https://www.trustpilot.com/review/www.hsbc.co.uk
https://www.trustpilot.com/review/cynergybank.co.uk
HSBC vs Cynergy Bank App Reviews
HSBC | Cynergy Bank | |
iPhone Review Score (out of 5) | 4.8 | 1.5 |
Number of iPhone Reviews | 1,400,000 | 350 |
Android Review Score (out of 5) | 4.8 | 1.7 |
Number of Android Reviews | 260,000 | 449 |
https://apps.apple.com/gb/app/hsbc-uk-mobile-banking/id1220329065
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
HSBC vs Cynergy Bank Account Fees & Charges
HSBC | Cynergy Bank | |
Free Business Bank Account | Yes | Yes |
Free Business Account Term Length | 12 Months | 12 Months |
Cheapest Monthly Account Fee | £6.50 | £25 |
Most Expensive Monthly Account Fee | £10 | £25 |
Electronic Payment Cost (in/out) | 35p | 35p |
Cash Payments Cost (in/out) | £1.50 | 65p per £100 |
Cheques (in/out) | 50p per cheque | 30p / 78p |
CHAPS Payments Cost | £17 | £25 |
SEPA Payments Cost | 20p | £6 |
HSBC vs Cynergy Bank Business Savings Rates
HSBC | Cynergy Bank | |
Types of Business Savings Accounts | Business Money Manager, Business Money Market, Clients Deposit | Business Saver |
Lowest Savings Rate (AER) | 0.10% | 4.00% |
Maximum Savings Rate (AER) | 2.02% | 4.00% |
Minimum Savings Amount | £1 | £1 |
Interest Paid On Foreign Currencies | Yes | Yes |
HSBC vs Cynergy Bank Account Opening Times
HSBC | Cynergy Bank | |
Can You Apply Online? | Yes | Yes |
How Long Does Opening An Account Typically Take? | 7 to 10 Working days | 15 minutes |
Do They Check Your Credit? | Yes | Yes |
Current Account Switch Service | Yes | Yes |
HSBC vs Cynergy Bank Features & Account Types


HSBC | Cynergy Bank | |
Business Current Account | Yes | Yes |
Business Savings Account | Yes | Yes |
Business Credit Card | Yes | Yes |
Business Overdraft | Yes | Yes |
Accounts For Startups | Yes | Yes |
Accounts For Charities | Yes | No |
Accounts For Sole Traders | Yes | Yes |
Joint Business Accounts Available | Yes | Yes |
Card Type | Visa | Visa |
Online Banking | Yes | Yes |
Mobile Banking | Yes | Yes |
In Person/Branch Banking | Yes | Yes |
Branch Locations | UK-wide | London, Redhill, Birmingham, Manchester and Glasgow |
HSBC vs Cynergy Bank Customer Support Options
HSBC | Cynergy 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 |
HSBC vs Cynergy Bank Foreign Currency Accounts
HSBC | Cynergy Bank | |
US Dollar (USD) Bank Accounts | Yes | No |
Euro (EUR) Bank Accounts | Yes | Yes |
Other Currencies Available: |
| No |
Other Business Services From HSBC and Cynergy Bank


HSBC | Cynergy Bank | |
Business Loans | Yes | Yes |
Commercial Mortgages | Yes | Yes |
Invoice Financing | Yes | Yes |
International Payments | Yes | Yes |
Merchant Payment Services | Yes | No |
Card Machines | Yes | No |
Free Accounting Software | No | No |
HSBC vs Cynergy Bank Banking Basics
HSBC | Cynergy Bank | |
Bank Type | High Street | Challenger |
FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
FCA Number | 765112 | 575105 |
Website | HSBC Website | Cynergy Bank Website |
Common Comparison Questions
Does HSBC or Cynergy Bank have better customer reviews?
HSBC scores 1.5 out of 5 based 8,399 Trustpilot reviews. Of these reviews 7% are 5-star and 88% are 1-star.
Whereas, Cynergy Bank scores 4 out of 5 based 2,235 Trustpilot reviews. Of which 58% are 5-star and 27% are 1-star.
Does HSBC or Cynergy Bank have a better App?
HSBC’s iPhone App is rated 4.8 out of 5 based on 1,400,000 reviews. And it’s Android App is rated 4.8 out of 5 based on 260,000 reviews.
In comparison, 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.
Does HSBC or Cynergy Bank have better business savings rates?
HSBC offers the following types of business savings accounts: Business Money Manager, Business Money Market, Clients Deposit with interest rates ranging from 0.10% to 2.02%. (AER)
In contrast, Cynergy Bank offers Business Saver accounts with interest rates ranging from 4.00% to 4.00% (AER).
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For other business bank accounts see our guide here.