Is Lloyds Bank or Cynergy Bank better for your small business?
Below we look at both Lloyds Bank 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.
Lloyds Bank vs Cynergy Bank Trustpilot Reviews
| Lloyds Bank | Cynergy Bank | |
| Trustpilot Review Score (out of 5) | 1.7 | 4 |
| Percent 5-Star Reviews | 13% | 58% |
| Percent 1- Star Reviews | 79% | 27% |
| Total Number of Reviews | 4,311 | 2,235 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/cynergybank.co.uk
Lloyds Bank vs Cynergy Bank App Reviews
| Lloyds Bank | Cynergy Bank | |
| iPhone Review Score (out of 5) | 4.8 | 1.5 |
| Number of iPhone Reviews | 1,900,000 | 350 |
| Android Review Score (out of 5) | 4.6 | 1.7 |
| Number of Android Reviews | 317,000 | 449 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
Lloyds Bank vs Cynergy Bank Account Fees & Charges
| Lloyds Bank | Cynergy Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 12 Months |
| Cheapest Monthly Account Fee | £8.50 | £25 |
| Most Expensive Monthly Account Fee | £8.50 | £25 |
| Electronic Payment Cost (in/out) | Free / 20p | 35p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 65p per £100 |
| Cheques (in/out) | 85p per cheque | 30p / 78p |
| CHAPS Payments Cost | £30 | £25 |
| SEPA Payments Cost | £5 | £6 |
Lloyds Bank vs Cynergy Bank Business Savings Rates
| Lloyds Bank | Cynergy Bank | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Business Saver |
| Lowest Savings Rate (AER) | 1.31% | 4.00% |
| Maximum Savings Rate (AER) | 4.37% | 4.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Cynergy Bank Account Opening Times
| Lloyds Bank | Cynergy Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 15 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Cynergy Bank Features & Account Types
| Lloyds Bank | 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 |
Lloyds Bank vs Cynergy Bank Customer Support Options
| Lloyds Bank | 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 |
Lloyds Bank vs Cynergy Bank Foreign Currency Accounts
| Lloyds Bank | Cynergy Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
| No |
Other Business Services From Lloyds Bank and Cynergy Bank
| Lloyds Bank | 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 | Yes | No |
Lloyds Bank vs Cynergy Bank Banking Basics
| Lloyds Bank | Cynergy Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 575105 |
| Website | Lloyds Bank Website | Cynergy Bank Website |
Common Comparison Questions
Does Lloyds Bank or Cynergy Bank have better customer reviews?
Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of these reviews 13% are 5-star and 79% 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 Lloyds Bank or Cynergy Bank have a better App?
Lloyds Bank’s iPhone App is rated 4.8 out of 5 based on 1,900,000 reviews. And it’s Android App is rated 4.6 out of 5 based on 317,000 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 Lloyds Bank or Cynergy Bank have better business savings rates?
Lloyds Bank offers the following types of business savings accounts: Fixed Term Deposit, Instant access account, Notice accounts with interest rates ranging from 1.31% to 4.37%. (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.