Regular Saver Thread **New and Restarted**

glider3560

polymaff wrote: »

Those grid cards are an elegant, lo-tech solution. No battery (yes, I know it is not a battery!) to go flat; no hi-tech display to go dodgy (HSBC-style). Easily recyclable, too. Nice!

And very insecure. Someone with access to the grid card (e.g. a building society employee, postal worker, housemate, whatever) could make a copy of the card and you would never know.

There are also only a certain number of combinations. If someone sees you login often enough (e.g. with a keylogger) then they could recreate the grid card in full.

Proper 2FA methods (like a time based token, or one sent by SMS/email) don't have these insecurities.

polymaff

glider3560 wrote: »

And very insecure. Someone with access to the grid card (e.g. a building society employee, postal worker, housemate, whatever) could make a copy of the card and you would never know.

There are also only a certain number of combinations. If someone sees you login often enough (e.g. with a keylogger) then they could recreate the grid card in full.

Proper 2FA methods (like a time based token, or one sent by SMS/email) don't have these insecurities.

Oh, I know all the ifs but I still regard it as elegant...:)

Fingerbobs

glider3560 wrote: »

And very insecure. Someone with access to the grid card (e.g. a building society employee, postal worker, housemate, whatever) could make a copy of the card and you would never know.

There are also only a certain number of combinations. If someone sees you login often enough (e.g. with a keylogger) then they could recreate the grid card in full.

Proper 2FA methods (like a time based token, or one sent by SMS/email) don't have these insecurities.

I've made a copy of my Grid Card inside my money spreadsheet so I don't have to faff about in my paperwork every time I want to log into the Coventry. It's still a pain in the botty to log into the Coventry though.

eskbanker

Fingerbobs wrote: »

I've made a copy of my Grid Card inside my money spreadsheet so I don't have to faff about in my paperwork every time I want to log into the Coventry. It's still a pain in the botty to log into the Coventry though.

Don't forget to include copious explanatory links and notes for all backside-related idioms used in posts on here

https://forums.moneysavingexpert.com/discussion/6056819/barclays-seen-it-s-a-e-with-post-office-cash-withdrawals

DragonQ

Fingerbobs wrote: »

I've made a copy of my Grid Card inside my money spreadsheet so I don't have to faff about in my paperwork every time I want to log into the Coventry. It's still a pain in the botty to log into the Coventry though.

Yeah Coventry's login system is unnecessarily complicated. I opened a Cynergy Bank savings account at 1.45% and it's much easier to use - username and password, that's it. It also transfers money out using faster payments, unlike Coventry's 1.5% ISA which takes at least a day. I can deal with a missing 0.05% for the convenience.

arsenalboy

Buckinghamshire B S is the latest to reduce reg saver rates.

Received letter this morning, that with effect 24 Oct, the Reg Sav reduces from 1.75% to 1.55% and the Reg Sav Locals goes down from 2.00% to 1.80%.

youngretired

I've just received my account number so can set up my SO. Can I set the SO up on a different account to my nominated account?

Reason I'm asking is some banks state that the funds have to come from a nominated account otherwise will be returned, but Coventry doesn't say anything except that the nominated account is for withdrawals.

glider3560

youngretired wrote: »

I've just received my account number so can set up my SO. Can I set the SO up on a different account to my nominated account?

Reason I'm asking is some banks state that the funds have to come from a nominated account otherwise will be returned, but Coventry doesn't say anything except that the nominated account is for withdrawals.

Yes, the money can come from anywhere.

soulsaver

youngretired wrote: »

I've just received my account number so can set up my SO. Can I set the SO up on a different account to my nominated account?

Reason I'm asking is some banks state that the funds have to come from a nominated account otherwise will be returned, but Coventry doesn't say anything except that the nominated account is for withdrawals.

Yep linked ac is just for withdrawals.

They accepted initial funding from a bank other than my linked and, although it doesn't kick in until November, my SO is from the same.

progressive_uk

Re: Coventry BS new Regular Saver


Speculator stated in Post 2816 that he holds a historic Regular Saver from the Stroud & Swindon days (I opened in 2010). I also am in this position - a very good account with no end date and no max balance as long as you keep funding it each month (up to 250) with a 2.55% interest rate now. I imagine that many savers with this account, like me, have well over £20K in the account.


https://www.coventrybuildingsociety.co.uk/consumer/product/savings/regular_saver/regular-saver.html
The T&Cs state under Additional Information: "This is a limited issue account and you can only have one Regular Saver at a time."

Has anybody with the old RS account successfully opened this new RS account (or been told definitively that you can't)? Speculator seems to imply he has, but I want to know for sure