Score of 83.6/100 qualifies for PaymentCheck Certification
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2025 - 30 Jun 2025 | 29 Jul 2025 | 21 | 82% | 12% | 6% | 31% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Cynergy Bank Plc agrees payment terms with suppliers for transactions and aims to promptly settle invoices in accordance with these terms. If an existing agreement is not in place, payments are made within 30 days of receiving a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
We have a dedicated Accounts Payable team who oversee invoice payments. Payment queries can be emailed directly to accountspayable@cynergybank.co.uk. Where necessary, queries are escalated to the business contact responsible for managing the supplier in question.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
CYNERGY BANK LIMITED is a UK-based bank that offers a range of financial services to individuals and businesses. The bank is committed to sustainability and has implemented various initiatives to reduce its environmental impact.
Under its sustainability program, CYNERGY BANK LIMITED has set targets to reduce its carbon emissions, increase recycling, and use renewable energy sources. The bank also offers sustainable lending options for customers, such as green mortgages and loans for eco-friendly projects.
In terms of products and services, CYNERGY BANK LIMITED offers current and savings accounts, mortgages, personal loans, and business banking services. The bank also has a mobile banking app for convenient access to accounts and transactions.
The key people at CYNERGY BANK LIMITED include the Chief Executive Officer, Nick Fahy, and the Chairman, James Birrell. The bank's registered office address is 27-31 Charlotte Street, London, W1T 1RW, and its website is www.cynergybank.co.uk.
In summary, CYNERGY BANK LIMITED is a sustainable bank that offers a range of financial services to its customers. With its commitment to reducing its environmental impact and providing sustainable lending options, the bank is a responsible and forward-thinking institution.