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  • FIRST POST
    • bristolleedsfan
    • By bristolleedsfan 28th Nov 07, 1:44 PM
    • 7,494Posts
    • 9,627Thanks
    bristolleedsfan
    Regular Savings Accounts: The Best Currently Available List!
    • #1
    • 28th Nov 07, 1:44 PM
    Regular Savings Accounts: The Best Currently Available List! 28th Nov 07 at 1:44 PM
    Watch out on this account. Tho' it's promoted as £1000pm its actually £1000 during the 6 weeks prior to your statement date!

    Depending on your statement date this means that, theoretically you could pay in £1000 in 2 consecutive calendar months and get a penal interest rate (approx 0.5%) OR you could pay in £0 in a calendar month and still get the full 6.35% for that month!!

    The "£1000 in 6 weeks prior to statement date" is hidden away in the T&Cs.
    Originally posted by Old Slaphead


    this is how the post on the subject was made on r-points on 17th november.


    funtimefrankie
    Gifted



    Joined: 11 Apr 2006
    Posts: 437

    Posted: 17 Nov 2007 15:55 Post subject: BEWARE THE COVENTRY FIRST ACCOUNT

    If you're looking for good catches - try the Coventry First.

    You think you're supposed to pay in £1000pm to get 6.35% interest ? - Well no, actually you have to pay in £1000 during the 6 weeks before statement date. My statement is 19th of month - therefore, using October as example I have to pay in £1000 between 7th Sept and 19th Oct to qualify for 6.35%.

    I actually paid in money on 6th Sept and 20th Oct and qualified for 0.5% interest in October !!!!!

    Using the Coventry method, it's both pssible to pay in £1000 in 2 consecutive calendar months (as I did) and only get 0.5% interest, conversley, it's possible to pay in nothing in a calendar month and still get 6.35%.

    Is THAT weird or what !
Page 346
    • Marvo5
    • By Marvo5 14th Jan 18, 1:56 PM
    • 133 Posts
    • 97 Thanks
    Marvo5
    Well I did say its "better than nothing" but hardly worth wetting your pants about. I'd exhausted everything but then B-Bank came along, quickly followed by NatWest. Who's to say how long before the next one comes along.

    The point is, none of this is life changing but if you enjoy farting about to end up with, taking inflation into account the same amount you started with then go for it, knock yourself out.

    I'm subscribed to this thread, I'm sure one day someone will post something that will get me all excited.
    • Steve_xx
    • By Steve_xx 14th Jan 18, 2:02 PM
    • 6,475 Posts
    • 2,705 Thanks
    Steve_xx

    I'm subscribed to this thread, I'm sure one day someone will post something that will get me all excited.
    Originally posted by Marvo5
    That "someone" could be you.... if you're not careful!
    • EachPenny
    • By EachPenny 14th Jan 18, 2:10 PM
    • 4,607 Posts
    • 9,418 Thanks
    EachPenny
    The point is, none of this is life changing but if you enjoy farting about to end up with, taking inflation into account the same amount you started with then go for it, knock yourself out.

    I'm subscribed to this thread, I'm sure one day someone will post something that will get me all excited.
    Originally posted by Marvo5
    If you know anywhere to put emergency cash that generates more than inflation then please let us know.
    "In the future, everyone will be rich for 15 minutes"
    • Marvo5
    • By Marvo5 14th Jan 18, 2:31 PM
    • 133 Posts
    • 97 Thanks
    Marvo5
    If you know anywhere to put emergency cash that generates more than inflation then please let us know.
    Originally posted by EachPenny
    I don't. That's why I'm on here.

    £12000 with Tesco and £1500 with TSB @ 3%, £2000 with Ford @ 4% and seven regular savers all paying 5%, currently £17,900 balance but obviously that fluctuates. The rest of my money is in ISA's with crap rates between 1.8% -2.5%. Oh and several grand with ATOM. That's it. Sadly I've not any more money to worry about but undoubtedly I've enough to see me through comfortably until the grim reaper calls so its not all bad.

    Listen, I get it, this is a game like any other game, the winner is he/she who makes the most with the smallest effort. It's just that the top prize is more kudos than cash.
    • YorkshireBoy
    • By YorkshireBoy 14th Jan 18, 2:53 PM
    • 29,906 Posts
    • 17,780 Thanks
    YorkshireBoy
    The thing is, all these rates are pretty crap. I know they're better than nothing but I'm going to get £750 in under six months from switching two accounts to B-Bank and then on to NatWest. Compared to that sort of "profit" the stuff on this thread is just peanuts.
    Originally posted by Marvo5
    Did you mean to say "we"? Or did you find a way to get 2 YB/CB/B incentives and 2 NatWest incentives?
    • schiff
    • By schiff 14th Jan 18, 2:54 PM
    • 17,839 Posts
    • 9,187 Thanks
    schiff
    Rates are poor principally because of bank rate. Better rates would follow inflation. We wouldn't want too much of that.

    Even with your legendary magical skills you can't change that
    • badger09
    • By badger09 14th Jan 18, 3:50 PM
    • 5,896 Posts
    • 5,233 Thanks
    badger09
    ............

    Listen, I get it, this is a game like any other game, the winner is he/she who makes the most with the smallest effort. It's just that the top prize is more kudos than cash.
    Originally posted by Marvo5
    Ta dah

    .............
    Originally posted by YorkshireBoy
    • ColdIron
    • By ColdIron 14th Jan 18, 4:41 PM
    • 3,895 Posts
    • 4,751 Thanks
    ColdIron
    the winner is he/she who makes the most with the smallest effort
    Originally posted by Marvo5
    Would you characterise someone who made more money by applying moderate or more effort as a loser? This isn't a competition
    • Marvo5
    • By Marvo5 14th Jan 18, 4:45 PM
    • 133 Posts
    • 97 Thanks
    Marvo5
    Did you mean to say "we"? Or did you find a way to get 2 YB/CB/B incentives and 2 NatWest incentives?
    Originally posted by YorkshireBoy
    Me & the wife in name only, shes not interested in "the game", took me a couple of years to convince her to change her account to First Direct to get the switch bonus. She'd drive you lot nuts, she has two accounts (she knows about), one giving no interest, the other 5% on £2500. She has a few grand in the one paying nothing and just a few hundred in the one where she gets interest. I tell her to move some over but she steadfastly refuses. Thing is, she's not that unusual. The daughter in-law also refuses to switch, she's had the same bank account for years which gives her nothing but she says "she's likes it and is used to it". In truth I reckon us lot on here are in the minority, the majority just can't be bothered.
    • Marvo5
    • By Marvo5 14th Jan 18, 4:47 PM
    • 133 Posts
    • 97 Thanks
    Marvo5
    Would you characterise someone who made more money by applying moderate or more effort as a loser? This isn't a competition
    Originally posted by ColdIron
    No but it is a game or maybe a hobby?

    If a man works one hour to earn £10 whilst another works 3 to earn £15, the latter has the most money but the former has the best pay rate.
    • xylophone
    • By xylophone 14th Jan 18, 5:16 PM
    • 24,536 Posts
    • 14,384 Thanks
    xylophone
    Me & the wife in name only,
    Too much information?
    • schiff
    • By schiff 14th Jan 18, 7:00 PM
    • 17,839 Posts
    • 9,187 Thanks
    schiff
    No but it is a game or maybe a hobby?
    Originally posted by Marvo5
    For people of a certain age it can be a very enjoyable hobby in fact. It beats going down the day centre
    • MSE Andrea
    • By MSE Andrea 20th Feb 18, 12:37 PM
    • 8,937 Posts
    • 21,532 Thanks
    MSE Andrea
    Bump - if you still need it
    Could you do with a Money Makeover?


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    • Eco Miser
    • By Eco Miser 20th Feb 18, 2:55 PM
    • 3,423 Posts
    • 3,183 Thanks
    Eco Miser
    Ooh, it's back - but missing the first day's posts, so all the post numbers are different..
    Perhaps it could be merged into the new thread?
    Eco Miser
    Saving money for well over half a century
    • schiff
    • By schiff 20th Feb 18, 3:48 PM
    • 17,839 Posts
    • 9,187 Thanks
    schiff
    Bump - if you still need it
    Originally posted by MSE Andrea
    If? If? We've been needing it for weeks!
    • Hattie625
    • By Hattie625 20th Feb 18, 5:08 PM
    • 651 Posts
    • 509 Thanks
    Hattie625
    Can we agree to converse on the new thread, so that we don't have to keep an eye on two threads?
    • kazwookie
    • By kazwookie 20th Feb 18, 5:33 PM
    • 9,487 Posts
    • 120,216 Thanks
    kazwookie
    first posts are still missing.
    Sun, Sea
    Slinky start date 29.01.18 28 to go / -10 so far and counting!!
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