The Top Easy Access Savings Discussion Area

dgpur

I-LOV-MONEY said:

Cynergy, I see the interest is paid annually.  Would an account that pays monthly be better?    I presume they pay the interest if you close the account earlier than a year?

Yes. If you close the account before the interest payment date, they will give you the interest earned up to that point (which is generally calculated daily).

mebu60

I-LOV-MONEY said:

Cynergy, I see the interest is paid annually.  Would an account that pays monthly be better?    I presume they pay the interest if you close the account earlier than a year?

They will pay interest earned to date upon closure. 

Cynergy also show you interest earned to date (in current period) and projected interest at next scheduled payment date. 

k_man

And applying for the new account issue and then Internal transfer and close (old one) takes only a couple of minutes.

BooJewels

Thanks for the various comments about transactions resulting in account issues - I'm glad it isn't just me who has concerns.  I wasn't sure if fewer large transactions was more of a risk, or more lower value ones.  My sister had some money for a house sale and put some into PBs until she needed it, as it wasn't going to be long and preferred to buy them in smaller batches to separate out the bond numbers - didn't want them all in one big consecutive lump.  That got her account frozen - easily sorted with ID and a print of her bond record with corresponding batches and dates.  But it's still an inconvenience.

I do have redundancy built in with accessible funds in a number of organisations, so I'm not going to find myself hungry if one transaction falters.

SeriousHoax

k_man said:

And applying for the new account issue and then Internal transfer and close (old one) takes only a couple of minutes.

Yes very easy.😀 well done Cynergy.

UncleK

Thank you for the advice on Cynergy, people. New account opened. I'm prepared to do their closing and opening as it's straightforward - not like the Tesco malarkey which leaves dribbles of old accounts with dribbles of interest in their wake.

jak22

Now that Coventry hasnt increased their top rate on limited access after a BoE rise - for maybe the first time in a year suggesting variable rates might be levelling off - and some seem unwilling to move between EA accounts anyway - maybe it's time to look again at fixed rates while they're still available over 4% rather than worrying about 0.1% EA increments.

dgpur

Can someone remind me - how fast are Cynergy at transferring money in and out, and do they allow transfers on weekends?

Wheres_My_Cashback

dgpur said:

Can someone remind me - how fast are Cynergy at transferring money in and out, and do they allow transfers on weekends?

Anything between 2-20 mins usually 24/7.

Bridlington1

According to moneyfacts Principality's online double access issue 2 account will pay 2.95%.