Coventry Building Society: Fixed Rate Bond

mike22

I opened a Coventry one year Fixed Rate Bond account on 17 Feb 2009.

The terms to put the money in:
Paying money in

• Once your account is open you can make payments into it by cheque or internal transfer but only while the account is still open to new investors.

While the this bond is closed for new customers, however, I am still able to put the money in.

I have called them and they said I have up to 14 days to put money in, but even today (day 15), I tried to put one pound, and the system accepted it.


Does that mean I can put money whenever I want, or the money I put will not get interest?

Mike

savetilibleed

I applied online for a bond on 13th Feb and it was opened the next day, appearing online then. I was told it would need to be funded by the 24th I was just able to do that in time. I haven't tried to pay more in, but I'd have thought that if the system accepts your money, they will pay interest. After all they have allowed your money into their account, even if in error - unless they are givinng people a little more grace to get their money in - maybe to allow for cheque funding.

mike22

Who told you that you should put money in before 24 Feb?

savetilibleed

mike22 wrote: »

Who told you that you should put money in before 24 Feb?

I phoned them (Coventry) a couple times about faster payments. I also told them I'd just opened a CS bond. They told me it would need to be funded by 24 Feb. A second phone call returned an earlier date for bank transfers and 24 Feb for cheque deposits. Having earlier been told 24 Feb I was told that date was OK for transfers. The bond was actually replaced by a lower interest one by 18 Feb.