A specialist bank that aims to disrupt ‘outdated practices’ has introduced its updated Business Current Account, which offers interest on every penny deposited.
Cynergy Bank’s Business Current Account has been tailored to offer businesses solutions that they seek – including a market-leading interest rate of 1.50% AER* variable paid on deposits up to and including £25,000 and 0.25% AER thereafter.
Customers can apply for the Business Current Account via an easy, hassle-free digital application process that can be completed in as little as 15 minutes**.
Furthermore, businesses can bolster their returns by accessing the Business Saver account which currently offers 3.65% AER.
The Business Current Account and Business Saver accounts are accessible to all eligible UK businesses, including sole traders, partnerships, limited liability partnerships and limited companies, with up to 10 Directors.
Nick Fahy, Chief Executive of Cynergy Bank, explained: “As a challenger bank, we are committed to providing businesses with a new standard of value and service.
“The outdated practices, complex fees, lack of a personal touch and low in-credit interest rates have long deprived businesses of the true value they deserve.
“We’re here to disrupt that norm and empower businesses with fairer, more transparent financial solutions that genuinely prioritise their success.
“We are confident in our focus on the new standards we will set for business banking in the UK. If our customers succeed, then we will also share in that success.”
Setting new standards
This new current account complements the bank’s existing range of products designed to serve the complex needs of business customers, including its market-leading Business Saver Account (3.65% AER).
The Cynergy Bank Business Current Account is accessible for a flat monthly fee of £25 which covers standard electronic transactions (excluding cash, cheque-clearing, CHAPS, SWIFT and SEPA transactions.)
Additional features include a VISA debit card with contactless payment of up to £100, accounts available in three currencies (GBP, EUR, USD) and the ability to pay into accounts at any UK branch of HSBC.
Empowering customers
Cynergy Bank was established in 2018 by entrepreneurs to serve the needs of business owners, property entrepreneurs and family businesses.
It boasts a strong track record supporting businesses that want to scale up and provides over £3bn lending to scaling businesses across the UK, as well as retail deposits to UK savers.
Its vision is to provide a truly personalised ‘Human Digital’ service that is delivered through face-to-face relationships and enhanced by the latest technology.
It provides a range of digitally enabled products and services to meet the property finance, business and commercial banking, private banking and personal savings needs of its customers.
Find out more
Cynergy Bank serves the blended financial needs of business owners, property entrepreneurs and family businesses. For further information, see www.cynergybank.co.uk
* AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
** Subject to regular Anti-Money Laundering checks.