Cynergy Bank

UncleK

It takes tiny effort to open a new account with the higher rate but you close the old one and the closing interest goes into the new one so that's fine. Unlike Tesco, where you end up with a trail of accounts with dobs of interest in..........which is mainly why we gave up on them.

Andy7856

SpanishBlue said:

Once again, for anyone who might not have seen it on another thread, Cynergy are currently offering their online easy access account with a rate of 3.25% which includes a 0.15% bonus for the first year.

Thanks! just another closed account to feature on my accounts screen and reopened a new one with them. 

SpanishBlue

Here we go again!

For those of you who play Cynergy's frequent game of closing your existing account and opening a new one to get a better rate of interest, their latest account (issue number 60) offers 3.55% of which 0.34% is a 12 month bonus.

SpanishBlue

Another interest raise from Cynergy Bank.

They now pay (issue number 61) 3.71% of which 0.50% is a 12 month.bonus.

WhoisDannie

SpanishBlue said:

Another interest raise from Cynergy Bank.

They now pay (issue number 61) 3.71% of which 0.50% is a 12 month.bonus.

Just noticed this so off to open another account

Snowflake

I’m on about account number 5 now, in as many months,which does seem daft, and I just hope that I’m not losing interest by keeping switching. 

mebu60

Snowflake said:

I’m on about account number 5 now, in as many months,which does seem daft, and I just hope that I’m not losing interest by keeping switching. 

If you use the 'close & transfer' process you can only be gaining interest by switching into the higher rate accounts. In fact you gain even more by the previous interest being added to the opening capital of the latest account.

SpanishBlue

Cynergy now offering 4.30% including bonus.

My old account was closed, new account opened and fully funded in about a minute.

I'm definitely getting quicker at playing their game, but I do get a lot of practice!

mebu60

SpanishBlue said:

Cynergy now offering 4.30% including bonus.

My old account was closed, new account opened and fully funded in about a minute.

I'm definitely getting quicker at playing their game, but I do get a lot of practice!

Ditto. And tidy amount of interest to be compounded in given the short time interval since Issue 62. 

PixelPound

How do you use the close and transfer?
Do first open the new account and then transfer?