Cynergy Bank

Cynergy Bank, previously known as Bank of Cyprus UK, has provided services to business customers in the UK since 1955. It was rebranded as Cynergy Bank in December 2018 following the acquisition of Bank of Cyprus UK by Cynergy Capital Limited.

They focus on providing business banking services but also offer personal current accounts, savings accounts and private banking services.

Their headquarters are based in London, UK.


Cynergy Bank
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Savings Accounts

Ranked 49th of 50 providers reviewed.

Customer happiness 52.67%
Customer trust 46%
Complaints performance 47.57%
Transparency rating 62.93%
Fairer Finance score
Reviewed Autumn 2022
52%

Bank accounts

Current accounts

Cynergy Bank

Personal Current Account

2 stars
Annual fee i £0.00
Maximum cash machine withdrawal per day i £600.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0.00
Card payment fee (£) i £0.00
App capability? i

Foreign use bank accounts

Cynergy Bank

Personal Current Account

1 stars
Foreign cash withdrawal fee i 2.99%
Foreign cash withdrawal additional charge i £0.00
Foreign purchases fee i 2.99%
Is there a limit on free cash withdrawals? i No free cash withdrawals

Overdrafts

Cynergy Bank

Personal Current Account

4 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0.00
Arranged overdraft interest rate (representative EAR) i 17.5%

Savings Accounts

1 Year Fixed Rate Accounts

Cynergy Bank

Fixed Rate Bond

Interest Rate (AER) i 4.15%
Minimum Opening Balance i £10,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a fixed term account with similar terms.
Part of FSCS i
Maximum Balance i £1,000,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

2 Year Fixed Rate Accounts

Cynergy Bank

Fixed Rate Bond

Interest Rate (AER) i 4.2%
Minimum Opening Balance i £10,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a fixed term account with similar terms.
Part of FSCS i
Maximum Balance i £1,000,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

3 Year Fixed Rate Accounts

Cynergy Bank

Fixed Rate Bond

Interest Rate (AER) i 4.25%
Minimum Opening Balance i £10,000.00
What happens at maturity? i The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a fixed term account with similar terms.
Part of FSCS i
Maximum Balance i £1,000,000.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Easy Access Accounts

Cynergy Bank

Online Easy Access Account (Issue 58)

Interest Rate (AER) i 3.25%
Maximum Balance i £1,000,000.00
Part of FSCS i
Withdrawal Penalty i
Additional Information i Rate includes a 0.15% bonus for 12 months, after 12 months the rate will reduce to 2.75%.
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i

Savings Accounts (ISAs)

1 Year Fixed Rate ISAs

Cynergy Bank

Fixed Rate Cash ISA

Interest Rate (AER) i 3.95%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before 14 days before the maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

2 Year Fixed Rate ISAs

Cynergy Bank

Fixed Rate Cash ISA

Interest Rate (AER) i 4%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you 14 days before the maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

3 Year Fixed Rate ISAs

Cynergy Bank

Fixed Rate Cash ISA

Interest Rate (AER) i 4%
Minimum Opening Balance i £500.00
What happens at maturity? i The provider will contact you before 14 days before the maturity date requesting instruction. If they receive no further instructions by the maturity date they will reinvest the funds for the same or similar term.
Part of FSCS i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Easy Access ISAs

Cynergy Bank

Variable Rate Cash ISA

Interest Rate (AER) i 0%
Part of FSCS i
Withdrawal Penalty i
Minimum Opening Balance i £500.00
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Cynergy Bank

Online ISA (Issue 33)

Interest Rate (AER) i 3.2%
Part of FSCS i
Withdrawal Penalty i Withdrawals can be made via nominated account
Minimum Opening Balance i £1.00
Minimum Age to Open Account i 18
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?