With 1.50% AER* variable on credit balances up to and including £25,000, our new Business Current Account makes your hard-earned money work even harder.
1.50%
AER* variable paid monthly at 1.49% gross p.a. for balances up to and including £25,000.
Earn 0.25% AER* variable (0.25% gross p.a.) on balances above £25,000.
* AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
Features
- Earn 1.50% AER* variable (1.49% gross p.a.) on all credit balances up to £25,000 and 0.25% AER* variable on balances above £25,000 (0.25% gross p.a.).
- Simple, fixed fee of £25 a month covering standard electronic transactions. **
- Apply in as little as 15 minutes.
- FSCS Covered.
** Excludes cash, CHAPS, SWIFT and SEPA transactions.
Who this product may be suitable for:
- Businesses based in the UK and registered with Companies House, where applicable.
- Sole traders, partnerships, limited liability partnerships and limited companies.
- Up to 10 named individuals including Partners, Directors and shareholders. (Note, shareholders with a shareholding of 10% or more must be added).
Who this product is not suitable for:
- Personal current account holders. If you are looking for a personal current account, click here.
- Charities or Trusts.
- Non-UK businesses.
Apply in as little as 15 minutes
Please read the Business Current Account Terms and Conditions and Summary Box (below) before applying, to ensure you understand the features and conditions of the account.
Keep in mind
- For your security an authentication app or device must be used to access online banking.
- Any individual who is a person of significant control and anyone you appoint as a user for your account must:
- Be aged 18 or over
- Be a UK resident and only a tax resident in the UK
- Not be a US citizen
How to apply
-
Apply online – click the 'Apply Now' button above
How to continue your application
- Click this link: Resume application
Please note that you will need the following when applying:
- 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)
Important product information
More features:
- Make payments using your Visa debit card with contactless technology - the fast, easy and secure way to pay for purchases under £100.
- Pay into your account at UK branches of HSBC.
- Access a range of payment services and Foreign Exchange including Faster Payments, CHAPS, SEPA and SWIFT.
- Most eligible deposits are protected up to £85,000 the UK Financial Services Compensation Scheme.
What is the interest rate?
- 1.50% AER* variable paid monthly at 1.49% 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 in your 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.
Can Cynergy Bank change the interest rate?
Yes, the interest rate 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.
Please see Business Current Account terms and conditions for further details.
How do I open and manage my account
Business Current Account customers who are 18 or over and a UK resident can open an account online.
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 can only use Online Banking to manage your account and make payments.
For added security, when you use Online Banking, you’ll need to download and register our Authenticator App (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. See our Authenticator App guidance page for more information.
You may contact us by Secure Message via Online Banking, by telephone or in writing using the address or other contact details we have given you or which appear on our website. Please note we are unable to take transaction requests through these channels.
Additional Information
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.
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.
We publish all current and historic issue interest rates on our website (https://www.cynergybank.co.uk/rates/) and within Online Banking if you hold one of our existing products.
Please read the important information below before applying:
FSCS Information Sheet / Exclusions List
Apply in as little as 15 minutes
Please read the Business Current Account Terms and Conditions and Summary Box (above) before applying, to ensure you understand the features and conditions of the account.
* AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.
** Excludes cash, CHAPS, SWIFT and SEPA transactions.
Smart onboarding
Apply for the Business Current Account in less than 15 minutes with our unique online application process.
No more monthly fee frights
Take complexity out of charges with a simple, monthly fee of £25 covering standard electronic transactions.**
Earn interest on every penny...
...with 1.50% AER* variable (1.49% gross p.a.) on balances up to and including £25,000, and 0.25% AER* variable (0.25% gross p.a.) on balances above £25,000.
Your money is protected up to £85,000
Cynergy Bank is a member of the Financial Services Compensation Scheme (FSCS). Your eligible deposits with Cynergy Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
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