The New Top Easy Access Savings Discussion Area

friolento

I had missed that Cynergy now have a ‘proper’ app - thanks to @EthicsGradient for the heads up. They didn’t call me or send me an email about it but I installed it, which was easy and quick to do. It’s now a lot easier to check your accounts, though you still need online banking for some activities.

My issue 68 account is down to 5%. I never got notified about the reduction, and I won’t complain about this because I have only a token balance in the account. I haven’t verified it with the T&Cs but IIRC, they only notify reductions if you have a certain minimum balance, and/or if the reduction is greater than x%.

BestSeagull

allegro120 said:

stoneman said:

allegro120 said:

BestSeagull said:

I have an Ulster Bank Loyalty Saver but no current account. Did this used to be possible or have I slipped through the cracks? In which case, should I apply for a current account now to avoid any possible future issues? 

No, you haven't slipped through the cracks.  It was possible at the beginning, the requirement of current account was introduced later.  I don't have Ulster current account and not planing to open one unless it becomes necessary.

I think the problem might arise when you try to pull your money out.You will only get the interest once a year or when you close the account and transfer the savings to your Ulster current account. That’s te way I understand it anywa.

Good thought, if you want to close the account and get the accrued interest you will probably need another Ulster account to transfer the balance into.  I've got a very old dormant easy access account with Ulster, this should do the job in the event of Loyalty Saver closure.  Otherwise it would make sense to open Ulster current account.    

I have an external current account set up for transfers out. That wouldn't work in this scenario? 

flaneurs_lobster

BestSeagull said:

allegro120 said:

stoneman said:

allegro120 said:

BestSeagull said:

I have an Ulster Bank Loyalty Saver but no current account. Did this used to be possible or have I slipped through the cracks? In which case, should I apply for a current account now to avoid any possible future issues? 

No, you haven't slipped through the cracks.  It was possible at the beginning, the requirement of current account was introduced later.  I don't have Ulster current account and not planing to open one unless it becomes necessary.

I think the problem might arise when you try to pull your money out.You will only get the interest once a year or when you close the account and transfer the savings to your Ulster current account. That’s te way I understand it anywa.

Good thought, if you want to close the account and get the accrued interest you will probably need another Ulster account to transfer the balance into.  I've got a very old dormant easy access account with Ulster, this should do the job in the event of Loyalty Saver closure.  Otherwise it would make sense to open Ulster current account.    

I have an external current account set up for transfers out. That wouldn't work in this scenario? 

Works for me. Why not try transferring a quid to make sure it works? Best to be sure before you really need that money somewhere else.

BestSeagull

flaneurs_lobster said:

BestSeagull said:

allegro120 said:

stoneman said:

allegro120 said:

BestSeagull said:

I have an Ulster Bank Loyalty Saver but no current account. Did this used to be possible or have I slipped through the cracks? In which case, should I apply for a current account now to avoid any possible future issues? 

No, you haven't slipped through the cracks.  It was possible at the beginning, the requirement of current account was introduced later.  I don't have Ulster current account and not planing to open one unless it becomes necessary.

I think the problem might arise when you try to pull your money out.You will only get the interest once a year or when you close the account and transfer the savings to your Ulster current account. That’s te way I understand it anywa.

Good thought, if you want to close the account and get the accrued interest you will probably need another Ulster account to transfer the balance into.  I've got a very old dormant easy access account with Ulster, this should do the job in the event of Loyalty Saver closure.  Otherwise it would make sense to open Ulster current account.    

I have an external current account set up for transfers out. That wouldn't work in this scenario? 

Works for me. Why not try transferring a quid to make sure it works? Best to be sure before you really need that money somewhere else.

Thanks. I tend to do that as part of my account opening process, to check the speed and that it works. I've just looked and I have already done a transfer out so it does work for routine transfers.  It was the suggestion that a current account might be needed in the event of early closure that I was questioning.

But what I hadn't considered when I replied earlier was that in the event I were to close the account to get the interest early, that would leave me without an account there at all. So I'd would likely have to open the current account at that time (to maintain the relationship) unless I can reopen this one, as they don't have another suitable account at the moment.

flaneurs_lobster

BestSeagull said:

flaneurs_lobster said:

BestSeagull said:

allegro120 said:

stoneman said:

allegro120 said:

BestSeagull said:

I have an Ulster Bank Loyalty Saver but no current account. Did this used to be possible or have I slipped through the cracks? In which case, should I apply for a current account now to avoid any possible future issues? 

No, you haven't slipped through the cracks.  It was possible at the beginning, the requirement of current account was introduced later.  I don't have Ulster current account and not planing to open one unless it becomes necessary.

I think the problem might arise when you try to pull your money out.You will only get the interest once a year or when you close the account and transfer the savings to your Ulster current account. That’s te way I understand it anywa.

Good thought, if you want to close the account and get the accrued interest you will probably need another Ulster account to transfer the balance into.  I've got a very old dormant easy access account with Ulster, this should do the job in the event of Loyalty Saver closure.  Otherwise it would make sense to open Ulster current account.    

I have an external current account set up for transfers out. That wouldn't work in this scenario? 

Works for me. Why not try transferring a quid to make sure it works? Best to be sure before you really need that money somewhere else.

Thanks. I tend to do that as part of my account opening process, to check the speed and that it works. I've just looked and I have already done a transfer out so it does work for routine transfers.  It was the suggestion that a current account might be needed in the event of early closure that I was questioning.

But what I hadn't considered when I replied earlier was that in the event I were to close the account to get the interest early, that would leave me without an account there at all. So I'd would likely have to open the current account at that time (to maintain the relationship) unless I can reopen this one, as they don't have another suitable account at the moment.

Ah, good point, well made. Opening a current account should be a little less fraught since you already have an account with them. Or maybe wait in case there's a future chance to open/swap in for a bonus?

savethepandas

EthicsGradient said:

I got a strange call on my mobile from Cynergy (apparently) today, asking if I'd got their email about their new app (I had), and if I needed any help with it. Since I took all bar £1 out yesterday due to the rate decrease, I hadn't bothered installing the app, and told them so (I'd be suspicious of this unsolicited call, but knowing my mobile nunmber and that I have a Cynergy account seems too much of a coincidence for it to be random phishing, and anyway I didn't give them any info).

But it's strange that they think they have enough employee/contractor time to phone random customers and ask if we've installed their app. If they do that, I think any customer should expect their phone calls to them to be answered by a person at once.

They called me, last week, whilst I was in the supermarket, so asked them to call me back in an hour.

In the meantime, checked out the number and found it to be a genuine one. Installed app and found I couldn't log in, got error 400.

They phoned back promptly, but I failed their security check, as I couldn't give them the balance of my bond. My bond had matured in July 23, which I told them, so the balance was zero. But they disagreed with this. Logged into online account and definitely only have an easy access account and the amount for that was what I told them. 

She told me to phone back, when I remember my bond balance. She asked if I would do that, I said no, as I knew the bond had matured, that I was taking my money out next week, when the rate went down and she had phoned me in the first place. At which point she put the phone down on me. Very bizarre.

OH had just received his email, so will see if he gets a call.

SeriousHoax

mebu60 said:

moi said:

mebu60 said:

tg99 said:

re Cynergy  My issue 68 which I didn’t get an email notification for is still showing 5.15% ie no rate reduction.

No rate reduction . . . . yet! Check again on 4 July. 

Re Cynergy Issue 68, I didn't ever get an email about the rate reduction. 4 July has come & gone, and my account still shows 5.15% overall rate 🤷‍♂️

As with @SeriousHoax mine is now showing 5.0% overall. 

If and when yours reduces I would be raising a formal complaint about the absence of any notification, should be able to achieve a few £s tax-free compensation. 

Most of the emails I get from cynergy are in my junk folder and that's how I found out that issue 68 was dropping to 5%

Strange thing is my emails from other banks are always in my inbox but cynergy always goes into junk.

AndyTh_2

SeriousHoax said:

mebu60 said:

moi said:

mebu60 said:

tg99 said:

re Cynergy  My issue 68 which I didn’t get an email notification for is still showing 5.15% ie no rate reduction.

No rate reduction . . . . yet! Check again on 4 July. 

Re Cynergy Issue 68, I didn't ever get an email about the rate reduction. 4 July has come & gone, and my account still shows 5.15% overall rate 🤷‍♂️

As with @SeriousHoax mine is now showing 5.0% overall. 

If and when yours reduces I would be raising a formal complaint about the absence of any notification, should be able to achieve a few £s tax-free compensation. 

Most of the emails I get from cynergy are in my junk folder and that's how I found out that issue 68 was dropping to 5%

Strange thing is my emails from other banks are always in my inbox but cynergy always goes into junk.

Cynergy's not got their mail delivery set up correctly, some of their emails don't have a DKIM signature yet have a they have a DMARC policy set to quarantine making it force go to junk folder

friolento

SeriousHoax said:

mebu60 said:

moi said:

mebu60 said:

tg99 said:

re Cynergy  My issue 68 which I didn’t get an email notification for is still showing 5.15% ie no rate reduction.

No rate reduction . . . . yet! Check again on 4 July. 

Re Cynergy Issue 68, I didn't ever get an email about the rate reduction. 4 July has come & gone, and my account still shows 5.15% overall rate 🤷‍♂️

As with @SeriousHoax mine is now showing 5.0% overall. 

If and when yours reduces I would be raising a formal complaint about the absence of any notification, should be able to achieve a few £s tax-free compensation. 

Most of the emails I get from cynergy are in my junk folder and that's how I found out that issue 68 was dropping to 5%

Strange thing is my emails from other banks are always in my inbox but cynergy always goes into junk.

Have just checked my spam folder - and yes, there are indeed emails from Cynergy advising the rate drop, and the new app. I also found some recent, genuine, emails from Principality BS in spam.

allegro120

BestSeagull said:

allegro120 said:

stoneman said:

allegro120 said:

BestSeagull said:

I have an Ulster Bank Loyalty Saver but no current account. Did this used to be possible or have I slipped through the cracks? In which case, should I apply for a current account now to avoid any possible future issues? 

No, you haven't slipped through the cracks.  It was possible at the beginning, the requirement of current account was introduced later.  I don't have Ulster current account and not planing to open one unless it becomes necessary.

I think the problem might arise when you try to pull your money out.You will only get the interest once a year or when you close the account and transfer the savings to your Ulster current account. That’s te way I understand it anywa.

Good thought, if you want to close the account and get the accrued interest you will probably need another Ulster account to transfer the balance into.  I've got a very old dormant easy access account with Ulster, this should do the job in the event of Loyalty Saver closure.  Otherwise it would make sense to open Ulster current account.    

I have an external current account set up for transfers out. That wouldn't work in this scenario? 

I have plenty of external accounts set up, I'm using Ulster Loyalty Saver for feeding RSs and transferring money to several current accounts when needed. It perfectly works for withdrawals, but I'm not sure if any of these will work for getting the interest if you want to close the account.