Frequently Asked Questions

To be eligible to open a Cynergy Bank Online Notice Saver you must fulfil the following:

• You must be at least 18 years of age.

• You must be ordinarily resident in the UK for tax purposes

• You must provide a UK mobile number and an up-to-date email address.

• You must register a nominated account for the purpose of making external withdrawals (outside of Cynergy Bank). Your nominated account must be a personal UK bank/building society account in your name and linked to the same address provided in your application. Your nominated account must accept Faster Payments and CHAPS.

A Fast track application is available for existing customers. To apply, log into Online Banking and select ‘Fast Track apply’ from the menu.

When you have completed the online application and if we have been able to electronically confirm your identity, we will open your account instantly and provide you with your new account number and sort code.

If we have not been able to electronically confirm your identity, we will contact you to let you know what information we need. Once we have received the additional information required, we will process your application and confirm to you by email when your account has been opened.

You can find your account number and sort code on your Online Banking once your account is open. You can view these in the ‘Account details’ section of Online Banking.

The minimum initial deposit is £500.

Please ensure your account is funded to the minimum balance within 14 days of opening your account. If we have not received the minimum balance, we will return any funds to your nominated account and close your account.

Yes, you can. You can use the Fast Track Apply page to apply for a new Online Notice Saver within minutes. You can hold up to 10 Online Notice Saver accounts.

Yes. A maximum of 2 account holders are able to operate an Online Notice Saver. Both parties to a joint account will need to complete the online application, instructions are provided during the application.

Once your account is opened, we will provide you with your account number and sort code. You can use these details to make your initial deposit. Log into or contact your bank or building society where you want to move your money from and transfer your savings using your new Online Notice Saver account details.

If you want to transfer your savings over from an existing Cynergy Bank account that allows withdrawals simply log into Online Banking and complete the transfer. Once requested this will be implemented almost immediately.

If you need a reminder of your account details, your account number and sort code, you can view these in the ‘Account details’ section of Online Banking.

We accept most forms of electronic payments including Faster Payments, BACS and CHAPS.

The Online Notice Saver does not accept payments by debit card, direct debit, cheque or cash.

After you have opened an account and deposited at least £500, you can make unlimited additional deposits subject to the maximum Online Notice Saver balance of £1m. It is important we receive your initial deposit within 14 days from account opening, or the account will be closed.

You will receive a SMS and email notification to let you know your funds were received within one hour of receiving the funds. You can also check the funds in your account on your Online Banking at any time.

Yes, you are free to withdraw your funds and close your account within your cancellation period. You can do this through your Online Banking.

Yes, subject to providing the specified number of calendar days’ notice for withdrawal. You can log a notice withdrawal request through Online Banking. You can only have one pending notice withdrawal request at a time.

You are free to request a withdrawal from your account, subject to providing the specified number of calendar days’ notice. The same applies should you wish to close the account and withdraw the entire balance.

Once your account is open, you will be able to log into Cynergy Bank’s Online Banking. To do this you need your Online Banking passcode, which will be sent to you via SMS, and your User ID, which was in your Welcome email.

To log in please visit our website at www.cynergybank.co.uk and click the ‘Online Banking Log in’ button near the top of the page.

You can log in to Online Banking by visiting our website at www.cynergybank.co.uk and clicking the ‘Online Banking Log in’ button near the top of the page. This will take you to our secure log in page. You will need your User ID and passcode.

It is recommended you only access Online Banking via the Cynergy Bank website and never use any other links. This applies to any computer that you use.

Ensure that your connection to Online Banking is secure by checking that you have a padlock or unbroken key in the bottom right of your browser window or alongside the address bar - this indicates that you are accessing a valid and secure site. All secure website addresses start with 'https' rather than 'http'.

Online Banking passcode: You can request a new passcode for Online Banking by using the 'Forgotten passcode' link on the Online Banking log in page.

Online Banking User ID: Your Online Banking User ID is contained in the Welcome email we sent you at account opening. If you don’t have a copy of this, you can request a reminder of your Online Banking User ID by contacting us.

If you need a reminder of your account details, log into Online Banking to view these in the ‘Account details’ section.

The Faster Payments Service is a payment system used between banks and building societies to speed up the way electronic payments in Sterling are made and received in the UK. Payments usually complete within hours. We will process most withdrawal requests by Faster Payments, depending on the amount and time of withdrawal request.

Not all Banks and Building Societies offer this service though, so please check with the Bank or Building Society you are sending money to/from to ensure they support Faster Payments, alternatively use the Sort Code Checker on the public website of BACS.

We will normally use Faster Payments for payments however, in some cases we use CHAPS. CHAPS (Clearing House Automated Payments System) is the system used for the electronic processing of financial transactions where guaranteed payments are transferred between UK banks on the same day. We may use CHAPS to process higher value withdrawals depending on the withdrawal amount and time of withdrawal request. CHAPS payments usually clear on the same day if advised by 3.30pm on a Working Day.

If you request a CHAPS payment after 3.30pm on a working day or on a non-working day we will treat your instruction as having been received at the beginning of the next working day and this is when we will start processing it.

A nominated account is an account that you must provide us with at application that we link to your Online Notice Saver. Any external withdrawals will be made to this nominated account. It must be an account you are a named beneficiary on with a UK bank or building society and must be able to receive Faster Payments.

You can request to amend your Online Notice Saver nominated account via Online Banking. You will be required to enter a One Time Passcode to confirm your request. We will electronically validate that you are named on the new nominated account. If the account passes electronic validation it will immediately be activated, and you can pay funds to it (subject to your funds being available for withdrawal)

If it does not pass electronic validation it will normally be ready to use after five working days. During these five working days you will not be able to pay funds away to the new nominated account however the existing nominated account will remain active until the new nominated account is activated. In some cases, we may request documentation from you and it may take longer to activate your new nominated account.

Yes. You can use a sole or joint account as your nominated account however, you must be a named beneficiary on the account.

If you’re unable to complete a transaction online or you can’t find the account information you need, we will be happy to assist you. Please note however that ordinarily no transactions can be completed by phone.

You can update your personal details by contacting Customer Service.

If you wish to close your Online Notice Saver in the 14-day cancellation window, you can close your account via Online Banking. Simply select your account and select the withdraw and closure option from the dropdown list and follow the on-screen instructions. If you wish to withdraw your funds to another Cynergy Bank account, you can select to internal transfer and close.

Interest is calculated daily on the cleared balance in your account and paid annually on the anniversary of the account opening and on account closure. If the anniversary falls on a weekend or bank holiday your interest will be credited on the next working day.

Yes, the interest rate is variable and may be altered in accordance with Section 10 of our Terms and Conditions for the Online Notice Saver.

Cynergy Bank is a member of the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Eligible deposits with Cynergy Bank are protected up to a total of £85,000 per depositor.

Further information is available on our website or visit www.fscs.org.uk .

Cynergy Bank takes pride in offering a high standard of customer service. We take all customer complaints seriously and if you have a complaint, we want to know. To make a complaint about your Fixed Rate Bond please contact our Customer Service Department on 0345 850 5555 (or if calling from outside the UK +44 (0)20 3375 6422). This call will cost you no more than calls to fixed line phones (landlines). Calls may be recorded for monitoring and training and to help us manage your account.

Alternatively, you can contact our Complaint Resolution Team by emailing us  at complaints@cynergybank.co.uk  or by writing to us at the following address:

   Complaint Resolution Team
Cynergy Bank Limited
PO Box 80030
London EC4P 4NG

We are dedicated to resolving any complaint you have. To help us do this, please provide:

• Your name and address

• Details of what happened and when it happened

• How you have been affected by this

• A contact number and a convenient time to call you

We are committed to resolving your complaint as quickly as possible whilst being transparent, fair and thorough with our investigations.

If you can’t find the answer to your question here please Contact us.