Cynergy Bank

Who they are

Cynergy Bank was established in December 2018 following the acquisition of Bank of Cyprus UK, which had been operating in the United Kingdom since 1955. So while the Cynergy name is relatively new, the banking infrastructure it sits on has decades of UK history behind it.

It describes itself as a "human-digital" bank, providing tailored banking solutions to SMEs - from start-ups to scale-ups - family-run businesses, and savers. In practice, that means it sits somewhere between a traditional relationship bank and a modern digital one. It was named MoneyAge Bank of the Year 2025, recognised for excellence in business banking and customer service. And for day-to-day reassurance, it holds an 'Excellent' rating on Trustpilot from over 5,000 reviews.

FSCS protection

Cynergy Bank is a member of the Financial Services Compensation Scheme (FSCS), with eligible deposits protected up to a total of £120,000. That is higher than the standard £85,000 limit that applies to most banks, which is worth noting if you are holding a larger balance. The maximum compensation limit applies per depositor, not per account, so for joint accounts each account holder would be entitled to compensation up to the maximum limit. Cynergy holds its own banking licence, so your protection here is not shared with another brand.

Savings accounts

Cynergy Bank is one of the names that turns up regularly in the easy access savings market. At the time of writing, their headline easy access rate sits at 4.27% - but it is important to know that this figure includes a 2% bonus that reverts after 12 months, dropping the rate to 2.27%. That is a meaningful cliff edge, so if you go down this route, put a reminder in your calendar at around the 11-month mark and be ready to move.

Beyond easy access, Cynergy also offers notice savers, fixed rate bonds, and a cash ISA. The range is reasonably broad for a specialist bank of this size.

Is it right for you?

Cynergy Bank is worth a serious look if you want a solid easy access rate from a properly licensed, FSCS-protected UK bank and are comfortable managing a move when the bonus expires. It will not suit you if you want to set something up and forget about it for several years - the bonus structure means you need to stay engaged.

There is no current account switch offer from Cynergy, so this is purely a savings play. For savers who want simplicity and no bonus to track, there are alternatives on the market with genuine rates and no expiry pressure.

As always, the live rates shown on this page are the most accurate reflection of what Cynergy Bank is currently offering - check them before you apply, as rates can and do change.