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Have you received Cynergy's notification of rate reductions

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  • dosh37
    dosh37 Posts: 530 Forumite
    Part of the Furniture 100 Posts Photogenic Name Dropper
    edited 24 September at 10:48AM
    SnowMan said:
    I've received a written response from Cynergy (in relation to the issue 90 appearing to drop from 4.45%AER to 4.19% AER and then returning to 4.45%AER) 
    After apologising they say 
    'Due to a technical issue, the interest rate on your account was incorrectly reduced. I'm pleased to confirm that this has now been fully resolved. The correct interest rate of 4.45% has been reinstated, and you can view this by logging into your online banking or mobile app.
    Importantly no interest has been lost - the corrected rate has been applied retroactively to the date the error occurred, ensuring your account has not been financially impacted. We take matters like this very seriously. The Bank is currently conducting a thorough internal review of its systems and processes to prevent this from happening again in the future'
    I'm happy with that response. 


    In my case I have lost interest since I withdrew all but £1 from the account as a result of the error.
    What would have been the response if I had closed the account altogether?
    In that case I would have lost out even more because the current Cynergy easy access rate is now only 4.0%.
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