Cynergy Savings Account

JohnSwift10

I have opened a Cynergy savings account as I need an instant access account for a few months but have not had my online login details yet so unable to access my account online.

I have tried a test payment of £1 using my account number and sort code from my nominated current account and I have had an email from Cynergy stating that 

We have received your initial deposit into your Online Easy Access Account.

Should I go ahead and deposit the £20,000 inheritance I have languishing in my current account or wait until I get my login details?

dosh37

When I tried logging on today @ 14:30, the following message was displayed:-

Important information about processing applications and payment transactionsWe are experiencing some issues with processing applications and payment transactions may be delayed. We are working to resolve this issue as quickly as possible and will update this message when we have more information.
Please contact us if you have any questions.
We apologise for any inconvenience.So if I were you, I would wait.

mebu60

Personally, for the sake of a few days and peace of mind, I would wait.
If you proceed the risk of it not reaching its destination is very low. 
But I would not be comfortable not having online access set up and working. 
On an unrestricted account I also test withdrawals before depositing large sums. 

dosh37

I have another query re: Cynergy online saver accounts.

I held an earlier issue account payng 2.75% inc bonus. When they recently announced a new issue paying 2.9%, I closed the existing account and transferred the balance into a new account. The transfer appears to be successful.

However I am unable to obtain a statement for the closed account. I am unable to determine the amount of interest paid.

The closed account indicates a negative balance that doesn't appear to relate to the amount of interest I was expecting.

I tried sending a secure message a couple of days ago to query this but have received no reply.

mebu60

dosh37 said:

I have another query re: Cynergy online saver accounts.

I held an earlier issue account payng 2.75% inc bonus. When they recently announced a new issue paying 2.9%, I closed the existing account and transferred the balance into a new account. The transfer appears to be successful.

However I am unable to obtain a statement for the closed account. I am unable to determine the amount of interest paid.

The closed account indicates a negative balance that doesn't appear to relate to the amount of interest I was expecting.

I tried sending a secure message a couple of days ago to query this but have received no reply.

On the list of closed accounts there should be an arrow to the far right of the row for the account in question, if you click on that you should be able to get a statement of interest. 

TiVo_Lad

The Cynergy statements are pretty comprehensive so should tell you everything you need to know. In my experience a closed account does show with a negative balance for a while until (presumably) their internal systems credit the interest properly and settle the account, so you may not be able to see the statement immediately. When I have closed a Cynergy account the negative balance has equalled the interest due at closure (not the total interest earned since account opening if you'd had interest paid previously), but maybe today's gremlins are causing an issue.

dosh37

After I closed the account, it showed a balance of -£948.24

Today the closed account shows a balance of -£19.19

The interest statement request at least now comes up with a figure (previously it just displayed a rotating 'busy' circle icon that went on forever). It indicates £929.05

None of these figures make any sense at all. They do not tie up with my own Excel spreadsheet.

I am still unable to obtain a proper statement for the closed account i.e. money in and money out.

How am I expected to submit interest received figures to HMRC in April?

eskbanker

dosh37 said:

How am I expected to submit interest received figures to HMRC in April?

Why would you be expected to submit interest received figures to HMRC in April?

Middle_of_the_Road

eskbanker said:

dosh37 said:

How am I expected to submit interest received figures to HMRC in April?

Why would you be expected to submit interest received figures to HMRC in April?

Maybe that dosh37 completes a self assessment tax return, and needs to enter gross interest figures

eskbanker

Middle_of_the_Road said:

eskbanker said:

dosh37 said:

How am I expected to submit interest received figures to HMRC in April?

Why would you be expected to submit interest received figures to HMRC in April?

Maybe that dosh37 completes a self assessment tax return, and needs to enter gross interest figures

But those figures aren't needed in April....

Middle_of_the_Road

eskbanker said:

Middle_of_the_Road said:

eskbanker said:

dosh37 said:

How am I expected to submit interest received figures to HMRC in April?

Why would you be expected to submit interest received figures to HMRC in April?

Maybe that dosh37 completes a self assessment tax return, and needs to enter gross interest figures

But those figures aren't needed in April....

If the required statement isn't available by April, what are the odds it might be available by 31/01/2024