Old fashioned girl

SINDYGIRL

Hey I would value opinions...I want to open a savings account with £20000... I looked on MSE and Cynergie was mentioned...I've never heard of it?...I'm stuck in a thing about just puting money into a 'normal' bank...Nationwide...Halifax...Santander etc...also and apologies if I sound mad...is it easier for my children to deal with ISA's and savings when I've died if I have them in accounts with passbooks so amounts are obvious as opposed to them having to deal with online accounts passcodes pin numbers etc...am I just being silly as rates seem better with online accounts...
Thanks for listening 

jimjames

High street bank rates are pitiful so you need to decide if you want a good rate or well known name. If covered by FSCS it shouldn't matter for £20k if you've not heard of them

Iain_For

For the amount you're discussing, Virigin Money's 1.56% M Plus Saver would be a name more familiar. As has been said, your money is safe up to 85k thanks to FSCS. It makes no difference in terms of inheritance whether the account is at a branch or online (ensure they're recorded), they will need grant of probate (England and Wales), Confirmation (Scotland) to access the funds.

LHW99

And I suspect if your children are anything like mine, they will be more than capable of dealing with online accounts - and may not even realise that a passbook actually relates to "money in the bank" initially

SINDYGIRL

...and Cynergie is ok?

SINDYGIRL

LHW99 said:

And I suspect if your children are anything like mine, they will be more than capable of dealing with online accounts - and may not even realise that a passbook actually relates to "money in the bank" initially

Certainly true...thank you

Albermarle

SINDYGIRL said:

...and Cynergie is ok?

CynergY is OK .

Reaper

Yes, provided you mean Cynergy Bank (note the different spelling, always beware similar sounding fake web sites)
For any company you want to check see https://www.fscs.org.uk/check/check-your-money-is-protected/

MX5huggy

SINDYGIRL said:

...and Cynergie is ok?

No …… but Cynergy is fine. 

SINDYGIRL

Thank you 

Albermarle

Cynergy Bank — MoneySavingExpert Forum

You might want to read this thread about some issues opening an account with them .

To be fair all financial institutions have their issues from time to time, and banks in particular have increased their security checking of new customers, which can sometimes cause issues.
If you do have a problem, you can always stop the process and go to another bank . Better to go to another one you have never heard of to get a decent rate.
Anyone on this comparison site is OK 

Compare The Best UK Savings Accounts | moneyfacts.co.uk