Cynergy Bank - Caution

Andrew_Chippenham

Looking for the best interest rates on Easy Access Savings I had a look at opening an account with the currently recommended Cynergy Bank.  All was going well until I read the Terms and Conditions document which contains cross-references to itself by numbered clauses - except that the document does not have numbered clauses.  The T&C's also refer to their charges but these are also not shown in the document.
I raised these issues through their contact form and after a almost a week without reply decided to use a different bank.
I later received a phone call from Cynergy with some airy-fairy dialogue attempting to tell me what some of the numbered clauses say, but it was not possible to provide me with a full version in writing by email.
When I choose a bank with which to place a considerable amount of savings, I expect them  to be a fully professional 'up-together' organisation.  One which has it's T&C's fully sorted, self-consistent and preferably checked by a legal team.
So if you want to place your cash with this 'off the cuff' outfit then please go ahead - but they are not for me.

masonic

The current ISA conditions can be found here: https://www.cynergybank.co.uk/media/gynh14tp/online-isa-conditions-120821.pdf

Could you give an example of a cross-reference to a numbered clause? I didn't spot any on a brief perusal. The only reference to charges was in relation to them refunding them in the instance of unauthorised use of your account.

As such a details man, I'm sure you wouldn't be posting in the ISAs section about any other type of account However, if you were referring to a taxable savings account, you'd find the charges in their aptly named Fee Information Document for Savings Accounts: https://www.cynergybank.co.uk/media/2538/fsp_001.pdf

In the non-ISA savings T&C, there are references to clauses in three numbered sections, the first is redundant and could be removed or replaced with "this agreement", the other two are the within same section as the cross reference appears and could be replaced with "the above clause" and "the below clauses" respectively. I don't really understand their desire to remove numbering from their conditions (numbered clauses are good), but it isn't something I would sweat.