The Top Easy Access Savings Discussion Area

littlemissbossy

Molehusband said:

Bobblehat said:

Cynergy emailed just now confirming Issue 53 increasing to 1.85%, wef 16th Aug, no action needed by account holder. I opened mine on 5th Aug, so I reckon the SB&KPI is a little ambiguous!

Thanks, that's very interesting. I recently contacted Cynergy to request they send me email when new products come along and interest rates change. Their response through a secure messages to me said:
"The interest rates offered between issues can vary ? both upwards and downwards. We do not personally notify customers when we offer new issues, nor do we automatically upgrade for the reason that new issue pricing can move both upwards and downwards. This offers benefits in a downward interest rate environment."

Given Cynergy appear to be refusing to send me similar notification emails of the type you have just received, can can you tell me how you persuaded them to put you on that notification list?

I have just received this email from Cynergy….. it’s the only rate notification I’ve ever had from them. 

SpanishBlue

littlemissbossy said:

Molehusband said:

Bobblehat said:

Cynergy emailed just now confirming Issue 53 increasing to 1.85%, wef 16th Aug, no action needed by account holder. I opened mine on 5th Aug, so I reckon the SB&KPI is a little ambiguous!

Thanks, that's very interesting. I recently contacted Cynergy to request they send me email when new products come along and interest rates change. Their response through a secure messages to me said:
"The interest rates offered between issues can vary ? both upwards and downwards. We do not personally notify customers when we offer new issues, nor do we automatically upgrade for the reason that new issue pricing can move both upwards and downwards. This offers benefits in a downward interest rate environment."

Given Cynergy appear to be refusing to send me similar notification emails of the type you have just received, can can you tell me how you persuaded them to put you on that notification list?

I have just received this email from Cynergy….. it’s the only rate notification I’ve ever had from them. 

Same here!

roked

Just opened a Cynergy account and it says it will take 7 days to get a passcode to access the account, which is annoying. Guess there is no way to get at your account before you get that. Is it typically taking that long or are people getting them in a couple of days?

Bobblehat

Molehusband said:

........

Given Cynergy appear to be refusing to send me similar notification emails of the type you have just received, can can you tell me how you persuaded them to put you on that notification list?

I'm not aware that I have ever taken any positive action to receive email notifications from Cynergy! Like others above, I think this is the first such email I have had from them ... maybe you'll get the same email in due course?

Fingers crossed that future rate increases will automatically apply to older savings accounts without the need to continuously apply for the new rate! Saves us and Cynergy from going through the motions over and over again! Good timing this, as I have a 1 year fix maturing very shortly (elsewhere) and some of it can sit in Cynergy for a wee while.

Molehusband

Bobblehat said:

Molehusband said:

........

Given Cynergy appear to be refusing to send me similar notification emails of the type you have just received, can can you tell me how you persuaded them to put you on that notification list?

I'm not aware that I have ever taken any positive action to receive email notifications from Cynergy! Like others above, I think this is the first such email I have had from them ... maybe you'll get the same email in due course?

Fingers crossed that future rate increases will automatically apply to older savings accounts without the need to continuously apply for the new rate! Saves us and Cynergy from going through the motions over and over again! Good timing this, as I have a 1 year fix maturing very shortly (elsewhere) and some of it can sit in Cynergy for a wee while.

Thanks, I confirm I too have just received the interest rate increase email from them. Like you, this is the very first of its kind I've ever had from them.

whatleytom87 said:

Must be taking into account customer feedback! 

I hope that from now Cynergy will continue to do automatic rate increases without all this bureaucracy of customers repeatedly having to Fastrack to new accounts.

janusdesign

roked said:

Just opened a Cynergy account and it says it will take 7 days to get a passcode to access the account, which is annoying. Guess there is no way to get at your account before you get that. Is it typically taking that long or are people getting them in a couple of days?

in the same boat... Yorkshire BS are similar in sending out passcodes in the snail mail - PITA.

on the plus side, the email confirming the initial £1 deposit came through quite quickly.

soulsaver

I've had loads of Cynergy interest rate movement email notifications.

You get them for accounts you have, not for ones that you don't have.

So when they have a new issue at a new rate, AFAIK they don't email you, you find out by media: MSE, Savings Champion, Moneyfacts etc.

Bobblehat

soulsaver said:

I've had loads of Cynergy interest rate movement email notifications.

You get them for accounts you have, not for ones that you don't have.

So when they have a new issue at a new rate, AFAIK they don't email you, you find out by media: MSE, Savings Champion, Moneyfacts etc.

So, up to now (Issue 53), given that each Cynergy interest rate rise has been associated with a new issue, rather than an interest rate rise on an existing issue, what emails have you had on your existing accounts? Have I missed something?

AndyTh_2

whatleytom87 said:

Must be taking into account customer feedback! 

It may more likely be that they needed to stave off customer loss for their own supply and demand needs.

Creating new issues was also a means to manage that in a different way, i.e. trying to gain new deposits without increasing existing costs proportionally.

So no doubt they'll do new issues again in the future.

Molehusband

soulsaver said:

I've had loads of Cynergy interest rate movement email notifications.

You get them for accounts you have, not for ones that you don't have.

I've had 12 Cynergy savings accounts of late. Today was the very first time I received an interest rate movement email (reference Easy Access Issue 53). All my other accounts never had even a single rate change. Instead, until now Cynergy always forced me to close & open a new account through Fastrack to get a rate change.

Please give some idea of these "loads of Cynergy interest rate movements" you've had. What accounts were they?