Have you received Cynergy's notification of rate reductions

SnowMan

Issue 69. No I haven't received an email advising of rate reduction.

I've still not received an email about the reduction to 5% for issue 68. I've assumed I was emailed but it didn't get through my spam filters even into junk.

Interestingly when I log on and go to account details it still says the rate is 5.15% even though 4th July has now passed. The attached screenprint is from a few minutes ago. Is this what it shows for other issue 68 account holders?

 

EthicsGradient

Issue 68. No I haven't received an email advising of rate reduction.

SnowMan said:

I've still not received an email about the reduction to 5% for issue 68. I've assumed I was emailed but it didn't get through my spam filters even into junk.

Interestingly when I log on and go to account details it still says the rate is 5.15% even though 4th July has now passed. The attached screenprint is from a few minutes ago. Is this what it shows for other issue 68 account holders?

 

I did get an email (on 18th June) about the reduction for Issue 68, and my account does show

Next interest payment date 07/10/2024

Underlying rate 3.85 %

Bonus rate 1.15 %

Overall rate 5.00 %

Bonus rate expiry date 06/10/2024

SnowMan

Issue 69. No I haven't received an email advising of rate reduction.

SnowMan said:

I've still not received an email about the reduction to 5% for issue 68. I've assumed I was emailed but it didn't get through my spam filters even into junk.

Interestingly when I log on and go to account details it still says the rate is 5.15% even though 4th July has now passed.

Received an email from Cynergy yesterday to say they didn't send me the notification that the interest rate was dropping from 5.15% to 5% on my issue 68, and so my rate is changing to 5% on 19th August (2 weeks from yesterday) rather than 4th July. I hadn't queried it with them; they had obviously identified it themselves.

Haven't received anything about the recent base rate cut.

UncleK

Issue 68. No I haven't received an email advising of rate reduction.

As I posted in the Easy Access Savings Discussion Area yesterday, I got the same email as SnowMan yesterday. I guess they are doing some kind of mop up exercise,

SnowMan

Issue 69. No I haven't received an email advising of rate reduction.

SnowMan said:

SnowMan said:

I've still not received an email about the reduction to 5% for issue 68. I've assumed I was emailed but it didn't get through my spam filters even into junk.

Interestingly when I log on and go to account details it still says the rate is 5.15% even though 4th July has now passed.

Received an email from Cynergy yesterday to say they didn't send me the notification that the interest rate was dropping from 5.15% to 5% on my issue 68, and so my rate is changing to 5% on 19th August (2 weeks from yesterday) rather than 4th July. I hadn't queried it with them; they had obviously identified it themselves.

Haven't received anything about the recent base rate cut.

When you go into the (issue 68) account it still incorrectly shows the interest rate as 5.15% (even though the change happened 2 days ago), although if you then choose account details from that screen it does show the 5% rate correctly on a different screen.

Are we aware of any further reduction to the 5% issue 68 rate because of the recent base rate cut, I've certainly had no notification?

I've also got an ISA issue 44 and the rate is showing consistently across both screens as 5% which is unchanged from when the account was opened in April 2024, and haven't had any notification of any subsequent cut.

patgarrett

My issue 68 is now showing as 5% but I haven't received any interest since last week. Is this the case for anyone else?

tambourineman88

patgarrett said:

My issue 68 is now showing as 5% but I haven't received any interest since last week. Is this the case for anyone else?

I have the Cynergy's Online ISA (Issue 43) and noticed the 'interest to date' figure had not been updated over the last few days. I did contact them about it this morning, unfortunately the advisor didn't grasp the problem.

masonic

My Issue 69 showing as 5% including bonus.

SnowMan

Issue 69. No I haven't received an email advising of rate reduction.

SnowMan said:

SnowMan said:

SnowMan said:

I've still not received an email about the reduction to 5% for issue 68. I've assumed I was emailed but it didn't get through my spam filters even into junk.

Interestingly when I log on and go to account details it still says the rate is 5.15% even though 4th July has now passed.

Received an email from Cynergy yesterday to say they didn't send me the notification that the interest rate was dropping from 5.15% to 5% on my issue 68, and so my rate is changing to 5% on 19th August (2 weeks from yesterday) rather than 4th July. I hadn't queried it with them; they had obviously identified it themselves.

Haven't received anything about the recent base rate cut.

When you go into the (issue 68) account it still incorrectly shows the interest rate as 5.15% (even though the change happened 2 days ago), although if you then choose account details from that screen it does show the 5% rate correctly on a different screen.

Are we aware of any further reduction to the 5% issue 68 rate because of the recent base rate cut, I've certainly had no notification?

I've also got an ISA issue 44 and the rate is showing consistently across both screens as 5% which is unchanged from when the account was opened in April 2024, and haven't had any notification of any subsequent cut.

Just to update my post, their system seems to have corrected itself this morning.

My issue 68 online easy access account shows as 5% on all screens now. And the 'interest earned to date' is the same on both screens that show it and is correct by my calculations.

My ISA issue 44 shows as 5% interest rate. The 'interest earned to date' on the deposit details screen is identical to the 'accrued credit interest (gross)' on the account details screen (they were different figures yesterday) and shows the correct figure based on 5% interest throughout, and appears to be increasing by exactly 5% x 1/365 of the account balance per day

 

1spiral

Issue 68. No I haven't received an email advising of rate reduction.

On the easy access thread, people are posting that from 27th September, Cynergy are reducing their rates. I again have received no notification (checked spam folder too). Is anyone else in the same boat? I thought it was mentioned before that their T&Cs state 14 days notice.