Coventry Poppy Account to 3.15% From Today

planemad

Thought the worthy of a dedicated thread:

Seems like the top of the table is hotting up with Coventry now offering 3.15% AER with the poppy account.
A direct responce to Barnsley BS 3.11 product.

It not on their website as of yet but I imagine that it will be updated soon.

MoneySavingNovice

planemad wrote: »

.........A direct responce to Barnsley BS 3.11 product.

I can't find a similar Barnsley BS product paying 3.11% - Could you post a link? Could it be the Derbyshire Netsaver your refering to?

VT82

I'm sure it's the Derbyshire Netsaver 3.11% he is referring to.

Good on the Coventry for upping the rate for all existing customers rather than relaunching it as 'Poppy Account 2'!

edda

It's there now:

http://www.coventrybuildingsociety.co.uk/savings-and-investments/Easy-Access/Poppy/Poppy.aspx?WT.ac=poppyhp

jcb208

Had an email today saying they are increasing the rate on my account. It’s good the new rate applies to existing customers as well so no need to go through all the hassle of closing and opening a new account, just wished all the banks would be as loyal to existing customers

King_Of_Bling

Only four withdrawals allowed with the Cov., unlimited with Derby.

typistretired

I got the email too today stating
I'm delighted to tell you that we're increasing the interest rate on your Poppy Online Saver. From 29 July 2011, you'll automatically earn the higher variable rate of 3.15% AER/gross p.a. (3.15% AER, 3.11% gross p.a., monthly). This rate includes a bonus of 1.15% AER for the remainder of your first year.
I don't know anything about Derbyshire BS as a customer but have with Coventry BS for over 5 years and their customer service is great and no problem with payments in and out. Receive faster payments but out payments go by Bacs

Old_Slaphead

King_Of_Bling wrote: »

Only four withdrawals allowed with the Cov., unlimited with Derby.

Make last one from Cov a transfer to DBS

typistretired

Took your advice and opened a Derbyshire account today. Bit irritating that you have to send a cheque for opening deposit and no freepost for sending application and cheque. States could take up to 15 days before I receive opening of account details. I have been a Nationwide customer for over 30 years so would have expected quicker opening. I bet they don't do faster payments for payments out!!!
:j:j:j

premierfella

typistretired wrote: »

Took your advice and opened a Derbyshire account today. Bit irritating that you have to send a cheque for opening deposit and no freepost for sending application and cheque. :j:j:j

For that reason I chose the option at Derbyshire to have them post the completed application form to me for signing. I received it yesterday with a 1st class Business Reply Plus envelope to post it back to them with the opening cheque.

premierfella

jcb208 wrote: »

Had an email today saying they are increasing the rate on my account. It’s good the new rate applies to existing customers as well so no need to go through all the hassle of closing and opening a new account, just wished all the banks would be as loyal to existing customers

...alternatively Coventry realised that their policy of allowing only one Poppy Online Saver EVER would mean that those who opened Issue 1 might vote with their feet if they released an Issue 2 so soon with a higher rate, simply transferring their Poppy savings to Derbyshire. Still good news for existing savers who opened the account before today, so kudos to Coventry for that.