SME customers of Cynergy Bank can now earn over £2,000 in first-year value from its enhanced Business Current Account, combining market-leading interest, a new bonus rate and an account opening incentive worth up to £800. The account now pays 3.50% AER variable (3.44% gross p.a.) on balances up to £35,000, more than triple the previous £10,000 threshold, while customers who maintain an average balance of £35,000 or more can also qualify for a 0.50% bonus rate for up to three months, as well as fee-free banking for as long as this balance is maintained.
The increased interest threshold reinforces Cynergy Bank’s commitment to helping UK SMEs make the most of their working capital, rewarding larger balances at the top rate and giving businesses a practical financial benefit at a time when every advantage counts.
Cynergy Bank has also launched a new incentive worth up to £800 for customers opening a Business Current Account. Customers can earn £200 when maintaining a balance of £10,000+, £400 with £35,000+ or £800 with £100,000+ for six months. Combined with interest and the bonus rate, qualifying customers could receive more than £2,000 of value in their first year, making it one of the most rewarding business current accounts available to UK SMEs.
The enhanced Business Current Account also supports bulk payment processing for payroll and supplier payments and integrates with Xero, Sage and FreeAgent accounting software, helping businesses manage their finances quickly and efficiently. It also offers international banking capabilities, including payments in up to seven major currencies and dedicated GBP, EUR and USD accounts for seamless international businesses trading.
Customers can apply for the Business Current Account via a simple digital application process, and manage their accounts using Cynergy Bank’s App and online banking platform.
The Business Current Account is available to eligible UK businesses, including partnerships, limited liability partnerships and limited companies, with up to 10 named individuals including Partners, Directors, and shareholders.
The Business Current Account is designed for businesses that need more than everyday banking – combining competitive returns with the payroll, international payment and accounting tools growing SMEs rely on. Cynergy Bank’s Human Digital approach combines the latest digital technology with dedicated relationship managers to assist mid-market SMEs with their banking and borrowing needs.
Sharon Maguire, Chief Operating Officer, Cynergy Bank, said:
“UK SMEs continue to navigate a challenging and fast-moving environment, making it more important than ever that their banking partner helps them make the most of their working capital.
“By increasing the balance threshold on our Business Current Account from £10,000 to £35,000, alongside a new incentive of up to £800 for eligible customers opening an account, we’re excited to be providing businesses with greater value from their everyday banking.
“These enhancements reflect our ongoing commitment to supporting SMEs with a human-digital proposition that combines competitive returns and meaningful rewards with the digital banking capabilities they need to operate efficiently and grow with confidence.”
