Cynergy Bank

alanwsg

Yes, they're quite sneaky with releasing new account and not telling existing customers, you have to check regularly.

I've just noticed (today) there's a new cash ISA - issue 61 which gives 4.1% rather than my existing one on 4.0%.

Not much difference but it's trivial to switch.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81863447#Comment_81863447

that happens with Tesco Bank. You have to close the old one and appply for the new one. I never kept pace as I didn't pay attention, so often would not know of the new rates. they seemed to have stopped doing that now I think.

it was also difficult for the tax return if you keep closing and opening accounts as you lose track of them all and Tesco Bank didn't issue interest paid certificates until you call them and then you would have to ask them to check all the closed accounts and issue the interest paid certificates. it got very messy as I could have 3 internet savers in one year.

jak22

With Tesco Bank it's now possible to close zero balance accounts from the app and request an interest certificate once they become available after the end of the tax year. Having new account issues is not uncommon, the top EA accounts thread here is very useful, and opening a new issue and transferring funds isn't usually difficult - but those with just the one account that remains competitive and with only one certificate needed is easier.

gpman

https://forums.moneysavingexpert.com/discussion/comment/81864872#Comment_81864872

Only 3 accounts in one year?

I see I opened 3 Cynergy savings accounts in a fortnight back in July 2025 because of new releases paying more. That was before they fouled up, possibly as a result of their own generated complexity.

Cynergy don't issue certificates of interest automatically either, but they do keep closed accounts visible online, so you can always check what they paid and/or request a certificate if needed, but its per account, not one covering total holding.

mills112

https://forums.moneysavingexpert.com/discussion/comment/81864951#Comment_81864951

Tesco bank only issued new internet savers every few months. They don't do that anymore these days. They don't keep closed accounts open so you have to remember how many you have! I always struggled with keeping tab.

Their internet savers is actually decent.

dosh37

Used Cynergy for some years now.

No major issues - although they seem to change interest rates frequently.

I have not invested for a while because their interest rates were not competetive.

I found trying to keep track of interest for HMRC Self Assessment very difficult because of the wierd way they handle their accounting online.

elsien

I decided to give them another go, and applied for their fixed rate bond at the end of February. I completed the ID checks that they asked for.

I did get a couple more emails basically saying we need your ID please ignore this email if you’ve already sent it.

So I ignored the emails because I’ve already sent what they asked.

account cancelled because they have no trace of the ID that I shared online. And because it was an online link, I have no proof that it was indeed done.

I am now tending to think they really are more hassle than they are worth

Andy7856

Yes, been with Cynergy about 3 years now. Also recently had a 6 month fixed that recently matured. The whole process including the maturing process ran like clockwork. They have updated their website, and its a bit more slick - before it was very clunky. But with a fixed rate bond I would guess you wont be using their website site much once the account is up and running.

Never had any problems, so never needed to really make contact. When I had log in problems I got through to them quickly.