Cynergy Bank Deposits

explorerm

Hello, 
I have opened a Fixed Rate Bond with Cynergy and have sent a test payment of £10 today, but it’s still not showing as having been received.
How long does it usually take for payments to show? I transferred the money from my current account with Lloyds. 

Are Cynergy usually OK with small test deposits? The minimum balance is £1000 for the bond and a bit worried as the funding window closes at 5pm tomorrow. 

Thank you in advance for all replies. 

elsien

I've sent a test deposit of £1 before and it wasn't a problem. I can't remember how long it took to show up but I have a feeling it may have been the next day. 

wmb194

explorerm said:

Hello, 
I have opened a Fixed Rate Bond with Cynergy and have sent a test payment of £10 today, but it’s still not showing as having been received.
How long does it usually take for payments to show? I transferred the money from my current account with Lloyds. 

Are Cynergy usually OK with small test deposits? The minimum balance is £1000 for the bond and a bit worried as the funding window closes at 5pm tomorrow. 

Thank you in advance for all replies. 

It is Sunday...

35har1old

explorerm said:

Hello, 
I have opened a Fixed Rate Bond with Cynergy and have sent a test payment of £10 today, but it’s still not showing as having been received.
How long does it usually take for payments to show? I transferred the money from my current account with Lloyds. 

Are Cynergy usually OK with small test deposits? The minimum balance is £1000 for the bond and a bit worried as the funding window closes at 5pm tomorrow. 

Thank you in advance for all replies. 

Amounts less than the minimum are usually returned.
It's better if you setup a instant excess account fund it with your test payment once satisfied transfer what you want to fund the fixed account and then do a internal tranfer

Richard1212

I don't understand these token payments to "test" savings banks. I transferred a large sum to Cynergy when they became one of the best % banks and had no problem at all. It really doesn't matter how long a transfer takes, within reason---it'll get there in hours or a few days at most. No problem envisaged at all. And, as somebody said, today is Sunday !

eskbanker

Richard1212 said:

I don't understand these token payments to "test" savings banks. I transferred a large sum to Cynergy when they became one of the best % banks and had no problem at all. It really doesn't matter how long a transfer takes, within reason---it'll get there in hours or a few days at most. No problem envisaged at all. And, as somebody said, today is Sunday !

The test is to validate that the money is reaching the correct account, not to see how long it takes!  The fact that some are confident enough to proceed without such verification doesn't in any way invalidate the more cautious approach adopted by others - I did the same myself recently with a new account, not just to validate that a payment would arrive but also to test the withdrawal process, prior to committing the full balance.

Bigwheels1111

eskbanker said:

Richard1212 said:

I don't understand these token payments to "test" savings banks. I transferred a large sum to Cynergy when they became one of the best % banks and had no problem at all. It really doesn't matter how long a transfer takes, within reason---it'll get there in hours or a few days at most. No problem envisaged at all. And, as somebody said, today is Sunday !

The test is to validate that the money is reaching the correct account, not to see how long it takes!  The fact that some are confident enough to proceed without such verification doesn't in any way invalidate the more cautious approach adopted by others - I did the same myself recently with a new account, not just to validate that a payment would arrive but also to test the withdrawal process, prior to committing the full balance.

I’m with you, I like to dot the eyes and cross the Tees.
If the next payment is 5k or 50k you want to know it will arrive in the right account.
I see post on here where people have transposed a number or two and well the 💩 has hit the fan.
With all saving and banks I like to call and ask questions. To see how long they take to answer, how knowledgeable they are about the product etc, can I make a test payment.
If they take forever to answer, or don’t know the answers to simple questions I would avoid.
Mainly because if they can’t do the simple things what happens when something goes wrong.

mebu60

Richard1212 said:

I don't understand these token payments to "test" savings banks. I transferred a large sum to Cynergy when they became one of the best % banks and had no problem at all. It really doesn't matter how long a transfer takes, within reason---it'll get there in hours or a few days at most. No problem envisaged at all. And, as somebody said, today is Sunday !

I'm not testing the bank / building society, I'm checking that I've set up the payment details correctly before I send a large amount. Mitigates 'fat finger' risk. 

ua8

Richard1212 said:

I don't understand these token payments to "test" savings banks. I transferred a large sum to Cynergy when they became one of the best % banks and had no problem at all. It really doesn't matter how long a transfer takes, within reason---it'll get there in hours or a few days at most. No problem envisaged at all. And, as somebody said, today is Sunday !

for me I have to keep double checking to make sure only takes slight slip and my eye sight isnt improving , so would prefer to send small amount so next time I transfer larger amount I dont need re enter the details and I know the details are correct 

explorerm

Received a SMS and email an hour ago to confirm the test £10 payment has been received.
Now just transferred the main payment - hoping it will reach Cynergy before the 5pm cut off time for funding today. 

Update - additional funds safely received in time, email and SMS received to confirm. 

Deposits took around 2 hours to reach Cynergy - not too bad, just don’t send on a Sunday. 

Thank you for everyone’s reply

I prefer to send a test deposit too, just in case of a typo or fat fingers too