Sick of Cynergy?

housebuyer143

Anyone else got so sick of them that they have left? They increased their savings rate so apparently I had to open a whole new account. Couldn't just update the one that I had... I did that. I have since transferred money into the new account but it doesn't show up instantly.

I mean it takes hours for payments to make it to their account. All my other accounts payments are instant.

Anyone else having this problem?

patgarrett

My balance just transferred instantly to the new account. 

housebuyer143

patgarrett said:

My balance just transferred instantly to the new account. 

This is paying in new money from another account. 80% of the time it takes hours to go in. All the time losing interest.
The best was when it took 3 days to reach my account 🙄

Shedman

I think it can depend on how late in the day you do the transfer between accounts as to whether it shows immediately/quickly or takes a while/doesn't appear until next day.   Can be a bit frustrating as you are never quite sure if you did actually finish clicking the confirm button and, as I have done at least once, end up making the transfer a second time

housebuyer143

Shedman said:

I think it can depend on how late in the day you do the transfer between accounts as to whether it shows immediately/quickly or takes a while/doesn't appear until next day.   Can be a bit frustrating as you are never quite sure if you did actually finish clicking the confirm button and, as I have done at least once, end up making the transfer a second time

Yeah it's just frustrating. I made a payment this morning into the account and it's still not there. I phone and they just sound dumbfounded 🙄
Might be time I took it out tbh and moved elsewhere.

The_Unready

Yep, I also got fed up of having to open new accounts on a regular basis that I just decided to transfer my ISA to a new supplier towards the end of last year.

qbs

housebuyer143 said:

Anyone else got so sick of them that they have left? They increased their savings rate so apparently I had to open a whole new account. Couldn't just update the one that I had... I did that. I have since transferred money into the new account but it doesn't show up instantly.

I mean it takes hours for payments to make it to their account. All my other accounts payments are instant.

Anyone else having this problem?

Quite common. Annoying, but common.

TiVo_Lad

It is ultimately down to Cynergy to operate their business in the way that they wish. If you don't like it, raise the issue with them, or move your business elsewhere. You're not obliged to remain a customer unless you have some form of fixed product.

I suspect you're worrying unnecessarily about loss of interest. Banks generally calculate interest on the basis of end of day balances, so whether your deposit arrives at 9am or 5pm, the calculation is the same.

My personal experience of Cynergy (and Bank of Cyprus before them) has been very positive.

HHarry

Ingave up on Cynergy when the authenticator stopped working.  It was a good system when it was working, but an update hadn’t helped and I can’t be bothered to sit on the phone to try and sort it.

I’ll write off the £1 that’s in there!

mebu60

As TiVo_Lad said.

Send money in the morning, has always arrived same day so no loss of interest. Don't send at weekends or on BHs. 

After a spate of applying increased interest to existing accounts they have reverted to type and recently brought out a higher paying account. When you open the new account action 'transfer and close' on the old account to the new. It is instantaneous. 

It's less onerous than some I could mention (Tesco, Sainsbury's - looking at you) but if you want Cynergy's 2.9% then that's what you have to do.