CYNERGY

dec9

Has anyone used a Cynergy cash isa?
The reviews for this bank are not to clever on the internet.

Aidanmc

dec9 said:

Has anyone used a Cynergy cash isa?
The reviews for this bank are not to clever on the internet.

Used Cynergy for ISA and non-isa savings in the past. i found them very good, no issues at all.

There are better paying cash isa's around though

dec9

They are now showing 4.55% for a 1yr fixed. They were 4.65% yesterday but they've gone down overnight.
Whose better than 4.55% I cant see anyone?

dec9

Cancel that the 4.55% has now closed on Cynergy!!!

Aidanmc

dec9 said:

They are now showing 4.55% for a 1yr fixed. They were 4.65% yesterday but they've gone down overnight.
Whose better than 4.55% I cant see anyone?

I didn't realise you were referring to Fixed Cash Isa's.

4.55% would have been a good rate....but as you say seems to have disappeared

rallycurve

Bear in mind that for fixed cash ISAs, Cynergy has a high penalty for early closure: 180 days for the 1 year fix, when most providers charge 90 days

35har1old

Aidanmc said:

dec9 said:

They are now showing 4.55% for a 1yr fixed. They were 4.65% yesterday but they've gone down overnight.
Whose better than 4.55% I cant see anyone?

I didn't realise you were referring to Fixed Cash Isa's.

4.55% would have been a good rate....but as you say seems to have disappeared

Still visible tonight
Fixed rates have automatic renewal

jimjames

dec9 said:

Has anyone used a Cynergy cash isa?
The reviews for this bank are not to clever on the internet.

I found them very frustrating. Opened account but was unable to use it so it got closed a couple of weeks later. Their security system was a pain to use.

Aidanmc

jimjames said:

dec9 said:

Has anyone used a Cynergy cash isa?
The reviews for this bank are not to clever on the internet.

I found them very frustrating. Opened account but was unable to use it so it got closed a couple of weeks later. Their security system was a pain to use.

Why were you unable to use it? Unable to log in.

I use the little qr code scanning device they sent as i dont use smartfoneapps.

Always worked a treat.

Don't currently use Cynergy atm though, but still have acc ther with min balance.

soulsaver

Cynergy have a known bug in their ac opening process: It creates an account... but occasionally it doesn't appear in the list of your accounts.

If it happens you just apply again, which only takes seconds if using the 'fast' process. I've never had two on the trot fail.

You then get several emails over the next few weeks saying you need to fund the ghost one. 

Reporting it doesn't get a correction, so I just ignore the emails.  

They seem unable to fix it because it's been happening for years.

davet30

dec9 said:

Has anyone used a Cynergy cash isa?
The reviews for this bank are not to clever on the internet.

I tried to use them on 31st March but ... I wouldn't recommend for the reason below ... here is my story (if you can keep awake long enough)

I checked out the website MSE Martin Lewis back in March for suitable fixed rate ISA

First of all I know his info isn’t necessarily a recommendation but to spare us the internet trawl to find the best deals. So I went and chose the best.

It was the fixed 4.5% and so followed the link to their website (Cynergy)

The form wasn’t great to negotiate and I stumbled on the very first option which was to chose which type I wanted.

The options were:

New investment;

New transfer

or New investment and transfer

Normally, ambiguous types of options have a ‘i’ or ‘?’ along side them where a mouse over action reveals more detail but no.

So I thought, I don’t have an account with these people so maybe it’s a latter option for me??

I set off down that route and quickly realised it was best to choose just the transfer option.

Form completed I then got an automated email informing me that it was accepted. The email however was a bit confusing as it was a generic email covering all 3 of the optional accounts but it didn’t make that obvious so I wasn’t sure if I had to physically transfer the amount to the account No. Shown in the email or what?? Anyway, after reading through the email it became clearer and it stated more or less to wait the 5 – 15 working days for the transfer to happen and that I would be kept updated via email.

On the 16th working day, 24th April, I phoned them up asking why I hadn’t heard and why the money had not yet been transferred.

Just as an aside, their call centre sounds like 6 or 8 people crammed into a small room all sat at the same table because the acoustics, background chatter and their cheap microphones made speaking with the operative extremely difficult.

The answer I got was my transfer request was rejected – nothing else, nothing more. I asked about the 4.5% rate and he told me that it would be honoured and that he would escalate my case.

I received an email 6 days latter on 30th April which said “We have recently received instructions regarding your account. In order for us to action the request, we would be grateful if you could contact us…” so, yet another phone call on 1st May. The call centre was just as bad as before but this time exacerbated due to the operative having a Scottish accent and was softly spoken.

From what I could gather from the conversation she said the rejection may have been because “Virgin go under 3 different names and it may have been this that caused it to be rejected”??

She also said that I should have received an email on the 1st April telling me of the rejection. I had never received such an email.

After considerable verbal communication issues, what I got from the conversation was that I would have to re-apply loosing out on the 4.5% rate. When I argued the point she then said that the 4.5% would be honoured. When I asked how they would tie up my new application with the old 4.5% offer she said I would be receiving an email giving me instructions on what I should do.

Now, the only thing I haven’t bottomed is my £20k deposit allowance for the year 2025-2026 and, having the new ISA technically created in that financial year??

So, it’s now 5th May and I’m still waiting for that email.

BTW, my advice? Don’t use Cynergy!