Is Virgin Money or Cynergy Bank better for your small business?
Below we look at both Virgin Money 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.
Virgin Money vs Cynergy Bank Trustpilot Reviews
| Virgin Money | Cynergy Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 4 |
| Percent 5-Star Reviews | 5% | 58% |
| Percent 1- Star Reviews | 89% | 27% |
| Total Number of Reviews | 6,799 | 2,235 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/cynergybank.co.uk
Virgin Money vs Cynergy Bank App Reviews
| Virgin Money | Cynergy Bank | |
| iPhone Review Score (out of 5) | 4.6 | 1.5 |
| Number of iPhone Reviews | 125,000 | 350 |
| Android Review Score (out of 5) | 4 | 1.7 |
| Number of Android Reviews | 23,400 | 449 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/cynergy-bank-authenticator/id1497728953
Virgin Money vs Cynergy Bank Account Fees & Charges
| Virgin Money | Cynergy Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 25 Months | 12 Months |
| Cheapest Monthly Account Fee | No | £25 |
| Most Expensive Monthly Account Fee | No | £25 |
| Electronic Payment Cost (in/out) | Free | 35p |
| Cash Payments Cost (in/out) | 90p per £100 | 65p per £100 |
| Cheques (in/out) | 30p per cheque | 30p / 78p |
| CHAPS Payments Cost | £25 | £25 |
| SEPA Payments Cost | £20 | £6 |
Virgin Money vs Cynergy Bank Business Savings Rates
| Virgin Money | Cynergy Bank | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Business Saver |
| Lowest Savings Rate (AER) | 1.35% | 4.00% |
| Maximum Savings Rate (AER) | 5.15% | 4.00% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Virgin Money vs Cynergy Bank Account Opening Times
| Virgin Money | Cynergy Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 15 minutes |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs Cynergy Bank Features & Account Types
| Virgin Money | 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 England and Scotland only | London, Redhill, Birmingham, Manchester and Glasgow |
Virgin Money vs Cynergy Bank Customer Support Options
| Virgin Money | 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 |
Virgin Money vs Cynergy Bank Foreign Currency Accounts
| Virgin Money | Cynergy Bank | |
| US Dollar (USD) Bank Accounts | Yes | No |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No | No |
Other Business Services From Virgin Money and Cynergy Bank
| Virgin Money | 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 | No | No |
| Free Accounting Software | Yes | No |
Virgin Money vs Cynergy Bank Banking Basics
| Virgin Money | Cynergy Bank | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 575105 |
| Website | Virgin Money Website | Cynergy Bank Website |
Common Comparison Questions
Does Virgin Money or Cynergy Bank have better customer reviews?
Virgin Money scores 1.4 out of 5 based 6,799 Trustpilot reviews. Of these reviews 5% are 5-star and 89% 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 Virgin Money or Cynergy Bank have a better App?
Virgin Money’s iPhone App is rated 4.6 out of 5 based on 125,000 reviews. And it’s Android App is rated 4 out of 5 based on 23,400 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 Virgin Money or Cynergy Bank have better business savings rates?
Virgin Money offers the following types of business savings accounts: Instant access accounts, Notice accounts, Fixed term deposit accounts with interest rates ranging from 1.35% to 5.15%. (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.