We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Top Easy Access Savings Discussion Area

Options
1100010011003100510062004

Comments

  • EssexHebridean
    EssexHebridean Posts: 24,424 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ashby6567 said:
    I've just checked my Coventry BS account and my Limited Access Saver 6  has increased to 3.20%, I also have a Limited Access Saver in which I withdrew all savings but £1 in March 2022, that account's rate has also been increased to 3.20% so if I split my savings between both accounts I'm entitled to 6+ withdrawals if need be. Am I correct on that point? I'm not sure how many withdrawals I'm entitled to with the older account though. I can't remember the T&C's.
    Coventry have a number of Limited Access accounts, mostly discontinued and at a lower rate.
    The best way to tell is to look in your online account at your particular account(s)
    Limited Access Saver (Online) issues (2) - (5)   (21.09.2020 - 25.10.2021) were also raised to 3.25%, so your extra one is presumably one of those, but afraid I don't know earlier T&Cs.
    I’ve got what I believe is an issue 3 - an old “Triple Access” and that still shows at 2.42% currently. 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • soulsaver
    soulsaver Posts: 6,607 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 7 January 2023 at 12:50AM
    ashby6567 said:
    I've just checked my Coventry BS account and my Limited Access Saver 6  has increased to 3.20%, I also have a Limited Access Saver in which I withdrew all savings but £1 in March 2022, that account's rate has also been increased to 3.20% so if I split my savings between both accounts I'm entitled to 6+ withdrawals if need be. Am I correct on that point? I'm not sure how many withdrawals I'm entitled to with the older account though. I can't remember the T&C's.
    Coventry have a number of Limited Access accounts, mostly discontinued and at a lower rate.
    The best way to tell is to look in your online account at your particular account(s)
    Limited Access Saver (Online) issues (2) - (5)   (21.09.2020 - 25.10.2021) were also raised to 3.25%, so your extra one is presumably one of those, but afraid I don't know earlier T&Cs.
    I’ve got what I believe is an issue 3 - an old “Triple Access” and that still shows at 2.42% currently. 
    Look in the closed accounts list, near the end, it's one of the 'homogenised' accounts: Closed Accounts | Savings (coventrybuildingsociety.co.uk)

    Triple Access Saver is now called Limited Access Saver (3) and allows 6 charge-free withdrawals per year (a year starts on the date or anniversary of account opening). 2.45% aer from 2.35%.

  • alternate
    alternate Posts: 715 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    The latest issue of Coventry Limited Access was listed as two separate accounts for Monthly or Annual interest.
  • ashby6567 said:
    I've just checked my Coventry BS account and my Limited Access Saver 6  has increased to 3.20%, I also have a Limited Access Saver in which I withdrew all savings but £1 in March 2022, that account's rate has also been increased to 3.20% so if I split my savings between both accounts I'm entitled to 6+ withdrawals if need be. Am I correct on that point? I'm not sure how many withdrawals I'm entitled to with the older account though. I can't remember the T&C's.
    Coventry have a number of Limited Access accounts, mostly discontinued and at a lower rate.
    The best way to tell is to look in your online account at your particular account(s)
    Limited Access Saver (Online) issues (2) - (5)   (21.09.2020 - 25.10.2021) were also raised to 3.25%, so your extra one is presumably one of those, but afraid I don't know earlier T&Cs.
    I’ve got what I believe is an issue 3 - an old “Triple Access” and that still shows at 2.42% currently. 
    Different account. Confusing but Limited Access Saver (3) is not the same as a Limited Access Saver (Online) issues (3)   
    https://www.coventrybuildingsociety.co.uk/member/savings/closed-accounts.html

  • hoc
    hoc Posts: 586 Forumite
    Ninth Anniversary 500 Posts Name Dropper Photogenic
    hoc said:
    soulsaver said:
    Just maybe worth repeating an observation on the YBS Rainy Day Saver, which is a limited (double) access account, open to 'all' and has been featured in the 'small(er) balances' section in the ToTP for a while. 

    From 17/01 - 3.35% to £5k then 2.85% on the bal above that.

    Currently it's lower rate doesn't make the ToTP main list, but it may do from 17/01.

    ATBE then, the 2.85% alone will put it equal/above Al Rayan in the ToTP; the aggregated rate would put it even higher.

    For example/comparison, £40k would earn 2.91%; or £30k would get 2.93%;
    £85k would get 2.87% and I'm planning to treat it as that for ranking purposes whilst it qualifies.

    Yorkshire BS Online Rainy Day Iss2  (Double access) currently 3.0% to £5k, then 2.5% (09/12)  ->3.35% to £5k then 2.85% wef 17/01.  
    YBM1607RC.pdf (ybs.co.uk)

    Is the account closed after the second withdrawal? Product Terms don't make it clear.
    "The Online Rainy Day Account Issue 2 allows unlimited instant withdrawals from your account without loss of any interest, on two days per account year, based on anniversary of account opening. You may also close your account at any time even if you have used all of your withdrawal days."

    I interpret this to mean that on any two days of each account year, you can do unlimited withdrawal requests. If you needed to make a withdrawal on a third day of the same account year, this is not possible, unless you close the account and access your full balance - hence 'You may also close your account at any time even if you have used all of your withdrawal days.'

    My interpretation was different but I was hoping someone who had the account could say for certain and it wouldn't be about different interpretations.

    The first 2 are not just allowed but allowed "without loss of any interest". Usually this means interest is lost on further withdrawals but YBS doesn't quantify.It says you may close any time even after the 2 withdrawals. It doesn't use language like we will close, you must close. If the customer can choose and this choice exists even after using up all withdrawals it should mean the account never gets automatically closed. It may mean it has to be closed to access the balance, it may just mean it becomes a lower or no interest account and this may be until allowance year is reset.

  • intalex
    intalex Posts: 985 Forumite
    Part of the Furniture 500 Posts Name Dropper Photogenic
    Limited Access Saver (Online) issues (2) - (5)   (21.09.2020 - 25.10.2021) were also raised to 3.25%, so your extra one is presumably one of those, but afraid I don't know earlier T&Cs.
    There was also the account titled Four Access Saver, which has also increased to 3.20% Gross / 3.25% AER.
  • EssexHebridean
    EssexHebridean Posts: 24,424 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ashby6567 said:
    I've just checked my Coventry BS account and my Limited Access Saver 6  has increased to 3.20%, I also have a Limited Access Saver in which I withdrew all savings but £1 in March 2022, that account's rate has also been increased to 3.20% so if I split my savings between both accounts I'm entitled to 6+ withdrawals if need be. Am I correct on that point? I'm not sure how many withdrawals I'm entitled to with the older account though. I can't remember the T&C's.
    Coventry have a number of Limited Access accounts, mostly discontinued and at a lower rate.
    The best way to tell is to look in your online account at your particular account(s)
    Limited Access Saver (Online) issues (2) - (5)   (21.09.2020 - 25.10.2021) were also raised to 3.25%, so your extra one is presumably one of those, but afraid I don't know earlier T&Cs.
    I’ve got what I believe is an issue 3 - an old “Triple Access” and that still shows at 2.42% currently. 
    Different account. Confusing but Limited Access Saver (3) is not the same as a Limited Access Saver (Online) issues (3)   
    https://www.coventrybuildingsociety.co.uk/member/savings/closed-accounts.html

    Thanks, but I’m not in the least confused and know exactly what the account is. I was simply posting to give an example of another variant on the interest that the different issues of accounts offer - also feeling it might remind others that they weren’t all the same and you need to check what you have! 😉
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • phillw
    phillw Posts: 5,665 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    where_are_we said:
    "Ride the crest of the wave" is the MSE mantra!

    I think you overestimate the importance of MSE regulars who will move on every rate change. We are statistically insignificant and not who they are trying to reach.

    It took me a week or so to get round to moving from al rayan to chip. If in the mean time all rayan had announced an increase coming in a week then I probably wouldn't have bothered. Not everyone is time rich

  • Rudyson
    Rudyson Posts: 347 Forumite
    Part of the Furniture 100 Posts Name Dropper
    intalex said:
    Limited Access Saver (Online) issues (2) - (5)   (21.09.2020 - 25.10.2021) were also raised to 3.25%, so your extra one is presumably one of those, but afraid I don't know earlier T&Cs.
    There was also the account titled Four Access Saver, which has also increased to 3.20% Gross / 3.25% AER.
    Correct. I have this as well as the new Six access account, both paying 3.20% Gross / 3.25% AER. and effectively giving me a ten access account


  • Rudyson
    Rudyson Posts: 347 Forumite
    Part of the Furniture 100 Posts Name Dropper
    edited 7 January 2023 at 12:50PM
    I just deposited some funds into the Cov 6 access account, is this likely to not show up now until Monday? 
    Mover some cash over at 16.30pm today.
    Was in my account 15 minutes later, not sure about after 17.00pm.
    Opened a Coventry account yesterday (Friday), deposited money about 7.30pm, showing in the account this morning, and dated yesterday

This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.