Anybody got a Cynergy savings account? Any issues?

What_time_is_it

Hi there.
I'm thinking of getting a Cynergy savings account - the one at 5.1%. 
What are people's experience of this bank? I've never heard of them before! Are they "safe"? Any good? Any issues I need to be aware of?
Thanks!

mebu60

FSCS = safe up to £85k.

The main issue (pun intended) some people have with them (and other institutions that operate in the same manner) is that rate increases are usually done via a new issue. However, unlike some, Cynergy has a slick online process for doing this which is pretty quick. 

Millyonare

It's got an irritating login process, with an authenticator app, which can get pretty annoying, especially if connectivity is weak.

friolento

They used to be called Bank Of Cyprus and have been operating in the UK for many years. They have the full FSCS cover of £85k. They are ok-ish, albeit a bit slow and have an old fashioned web interface with a smartphone-based login authenticator which some people find cumbersome to use. Also, when they issue new versions / better rates, you have to move your money manually. On the other hand, if the rate of a new version drops, you might be able to keep your old rate.Perfectly good bank .

Kerreh

I've had a Cynergy fixed bond and a few easy access savers - they're tweaking the logon process recently (auto logon after the authenticator has scanned the image rather than having to put the annoying pin no in) - no problems here, I like how you can see the predicted interest of an account for the maturity date.

SeriousHoax

I joined them when they were called the Bank of Cyprus and never had a problem with them and always found that they have a good customer service team.

Bobblehat

Mebu60 sums it up well .... otherwise, I'm happy with Cynergy! They have offered some very good rates in the past.