Paphos People

A couple of days ago I received from Cynergy Bank UK that the interest on my deposit account with them is now zero percent. I replied asking if their account fees for my current account would also now be zero, only fair I suggested. I also asked which of their other Fixed Term Deposit accounts were open to me. Their reply this morning was as follows:

"Unfortunately, the terms & conditions remain the same on your account the fees still apply.
We are not offering any further accounts at this time to international customers. We apologise for the inconvenience caused" Unquote.

Looks like another Barclays etc. situation arriving very soon.

Anybody suggest where good honest pension money can be deposited in the UK. I fear depositing in Cyprus or indeed some other EU countries for they may well be due for a haircut to pay for the Coronavirus and disobeying EU rules such as closing their own territorial borders.

Any idea most welcome for their must be others on here in the same boat.

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Clive of Payia

That is the question most of the expat community is asking!

I am, like you appear Clive, becoming increasingly disenchanted with Cynergy Bank.
They are IMHO at the other end of the spectrum to the previous Bank of Cyprus operation in terms of their so-called 'customer services' - which patently are really cynically poor (very similar I recall to Barclays Bank as they moved toward closing expat accounts).
Like most UK banks, they are flouting the law by "not offerring accounts to international customers at this time", yet this is patently ignored by the Bank of England, or the officers of the law. It would seem banking institutions rule the UK, even after the self-engrandising/vastly over remunerated Carney moved off to further his wealth-for-little-effort personal franchise - a chancer of the highest order!

In answer to your question; find an offshore bank, you will have little success on the mainland, trust me we've tried.

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I'll be back!

That is what I feared when BoCUK was taken over.

I was concerned then to see that it had been bought by people whose experience appeared to be running cash and carry's!

I haven't heard anything from them, so let's wait and see, I guess.

Of any interest?

https://moneyfacts.co.uk/savings-accoun ... -accounts/

Of any interest?

https://moneyfacts.co.uk/savings-accoun ... -accounts/

For me no, as all my money went to HSBC. I had a quick glance at the link though and it seems to be a link to UK savings accounts and I cannot see any reference to offshore investors, but it may be useful to any forum members resident in the UK.

Effsie, This is reference offshore accounts! For people abroad.