Is Ulster Bank or Cynergy Bank better for your small business?
Below we look at both Ulster 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.
Ulster Bank vs Cynergy Bank Trustpilot Reviews
| Ulster Bank | Cynergy Bank | |
| Trustpilot Review Score (out of 5) | 1.5 | 4 |
| Percent 5-Star Reviews | 8% | 58% |
| Percent 1- Star Reviews | 86% | 27% |
| Total Number of Reviews | 114 | 2,235 |
https://www.trustpilot.com/review/www.ulsterbank.co.uk
https://www.trustpilot.com/review/cynergybank.co.uk
Ulster Bank vs Cynergy Bank App Reviews
| Ulster Bank | Cynergy Bank | |
| iPhone Review Score (out of 5) | 4.8 | 1.5 |
| Number of iPhone Reviews | 15,700 | 350 |
| Android Review Score (out of 5) | 4.1 | 1.7 |
| Number of Android Reviews | 15,000 | 449 |
https://apps.apple.com/gb/app/ulster-bank-ni-mobile-banking/id469523324
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
Ulster Bank vs Cynergy Bank Account Fees & Charges
| Ulster Bank | Cynergy Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 24 Months | 12 Months |
| Cheapest Monthly Account Fee | £8 | £25 |
| Most Expensive Monthly Account Fee | £12 | £25 |
| Electronic Payment Cost (in/out) | 43p | 35p |
| Cash Payments Cost (in/out) | 70p per £100 | 65p per £100 |
| Cheques (in/out) | 40p | 30p / 78p |
| CHAPS Payments Cost | £18.75 | £25 |
| SEPA Payments Cost | €0.51 | £6 |
Ulster Bank vs Cynergy Bank Business Savings Rates
| Ulster Bank | Cynergy Bank | |
| Types of Business Savings Accounts | Instant access accounts, Fixed term accounts, Currency savings accounts | Business Saver |
| Lowest Savings Rate (AER) | 1.46% | 4.00% |
| Maximum Savings Rate (AER) | 1.92% | 4.00% |
| Minimum Savings Amount | No | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Ulster Bank vs Cynergy Bank Account Opening Times
| Ulster Bank | Cynergy Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 24 working hours | 15 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Ulster Bank vs Cynergy Bank Features & Account Types
| Ulster 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 | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Northern Ireland Only | London, Redhill, Birmingham, Manchester and Glasgow |
Ulster Bank vs Cynergy Bank Customer Support Options
| Ulster 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 |
Ulster Bank vs Cynergy Bank Foreign Currency Accounts
| Ulster Bank | Cynergy Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
| No |
Other Business Services From Ulster Bank and Cynergy Bank
| Ulster Bank | Cynergy Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | No |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | No |
Ulster Bank vs Cynergy Bank Banking Basics
| Ulster Bank | Cynergy Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | NA | 575105 |
| Website | Ulster Bank Website | Cynergy Bank Website |
Common Comparison Questions
Does Ulster Bank or Cynergy Bank have better customer reviews?
Ulster Bank scores 1.5 out of 5 based 114 Trustpilot reviews. Of these reviews 8% are 5-star and 86% 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 Ulster Bank or Cynergy Bank have a better App?
Ulster Bank’s iPhone App is rated 4.8 out of 5 based on 15,700 reviews. And it’s Android App is rated 4.1 out of 5 based on 15,000 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 Ulster Bank or Cynergy Bank have better business savings rates?
Ulster Bank offers the following types of business savings accounts: Instant access accounts, Fixed term accounts, Currency savings accounts with interest rates ranging from 1.46% to 1.92%. (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.