Business Banking Account | Business Current Account

The Cynergy Current Account is a business banking account designed for UK-based businesses, offering practical solutions for managing financial activities.

The Business Current Account offers several key benefits that can enhance their financial management and operational efficiency:

• Competitive Interest Rates: Earn 2.50% AER variable on balances up to £25,000, helping SMEs maximize returns on their surplus cash.

• Fee-Free Banking for the First Year: No monthly fees for the first 12 months **, reducing overhead costs and allowing SMEs to focus on growth .

• Visa Business Debit Card: Provides convenient access to funds and secure transactions, supporting day-to-day business operations.

• Domestic Payments: Supports a variety of payment methods, including Faster Payments (FPS), Direct Debit, Standing Orders, CHAPS.

• International Payment Capabilities: Make and receive payments in up to seven major currencies, facilitating international trade and expansion.

• Mobile and Online Banking: Convenient access to account management and transactions, enabling SMEs to stay on top of their finances anytime, anywhere.

• Free Bulk Payment Processing: Efficiently manage payroll and supplier payments with no additional fees for bulk transactions, supporting streamlined operations.

• Customisable Workflows: Tailor transaction approval processes to fit the unique needs of the business, enhancing control and security.

• Overdraft Facilities: Access to arranged overdrafts to manage cash flow fluctuations, providing financial flexibility during peak business periods.

• Fees for Standard Transactions: Free Faster Payments (FPS), Direct Debits, Standing Orders, and Debit Card Payments (in £ GBP), reducing day-to-day banking costs.

**Offer available for new Business Current Account openings only.

The business bank account is fee-free for the first 12 months for new accounts only. After this period, a monthly fee of £5 will apply. Additional fees may apply for specific transactions like CHAPS, SWIFT, and SEPA payments. Please refer to the Fee Information Document here.

Customers who are 18 or over and a UK resident can open a business banking account.

You will need:

• Email addresses and phone numbers for any Ultimate Beneficial Owners with 10% or more, or any directors of the business (these details must be different to yours).

• Your Unique Taxpayer Reference number (you can find this in your Government Gateway account/HMRC app).

You may use  and our to manage your business banking account and make payments.

For added security, when you use Online Banking, you’ll need to download and register our (available for free on Google Play or the Apple App Store) or request a Digipass®.

You will need access to the Authenticator App or Digipass® every time you login and make any actions on your account. This added security step helps us know that it is you making the transaction so we can keep your account safe.

The Business Current Account offers a competitive interest rate of:

• 2.50% AER* variable paid monthly at 2.47% gross p.a. on all credit balances up to and including £25,000.

• 0.25% AER* variable paid monthly at 0.25% gross p.a. on all credit balances above £25,000.

Interest will be calculated daily on the cleared balance of your business bank account and added to the account balance monthly on your anniversary date from when you opened the account. If this falls on a weekend or bank holiday, your interest will be credited on the next working day.

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year. Gross interest is the contractual rate of interest.

Yes, the interest rate on your business bank accounts may change.

Please note that if we increase the interest rate of your Business Current Account issue, we may make the change immediately and notify you within a reasonable time afterward, either by email or on our website.

If we reduce the interest rate we will notify you 14 days before the change is made. If the Balance of your account is less than £100, we will not be required to give you notice ahead of making a change.

Read the for further details.

The Business Account supports major domestic & international payment methods, including:

• Faster Payments (FPS)

• CHAPS

• Direct Debit

• Standing Orders

• SWIFT

• SEPA

To learn about the full list of transactional services and associated fees please refer to the Fee Information Document here.

Yes, the business bank account allows businesses to make international payments in up to seven major currencies. You also have the option to open EUR or USD accounts.

Yes, you can order a business debit card as part of account opening. There are no fees for using the card domestically. Fees might apply when paying with the card overseas.

For more information about applicable fees, please refer to the Fee Information Document here.

Yes, the business account offers a bulk payment feature.

Bulk payment processing allows businesses to make payments to multiple beneficiaries simultaneously in one transaction, which is particularly useful for managing payroll, supplier payments, or other recurring transactions.

With the business bank account, you can upload a file containing payment details for up to 100 beneficiaries per batch. The bank processes these payments as standard Faster Payments (FPS) transactions, ensuring they are completed quickly and efficiently.

There are no additional fees for bulk payments, making it a cost-effective solution for SMEs to streamline their payment processes.

The business bank account offers arranged overdrafts with fees based on the overdraft limit and renewal frequency. Fee breakdown can be found in the Fee Information Document here.

Interest will be paid without deduction of tax. You will need to deduct tax yourself by declaring it as part of your annual tax return for your business bank account.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross interest is the contractual rate of interest.

All are published on our website and Online Banking (available to customers with an existing product).

The choice depends on your business's financial goals and business banking needs:

• The Business Current Account is designed for managing day-to-day transactions, offering features like interest on balances, secure account management tools, and international payment options.

• The Business Saver Account is ideal for earning higher interest on surplus funds while maintaining flexible access to your savings without monthly fees.

• The Business Notice Account is best if you want to earn even higher interest rates on funds that you can set aside for a specific period, as it requires a notice period for withdrawals.

By understanding how each account aligns with your priorities—be it daily operations, flexible savings, or long-term returns—you can choose the one that suits your business best.