The Top Easy Access Savings Discussion Area

Bridlington1

phillw said:

Freedommm said:
This company lives in 1752 or something.

Before the invention of the telephone in 1876?

A lot of banks have weird "know your customer" rules.

Also some 132 years before it was even founded.

Middle_of_the_Road

Freedommm said:
This company lives in 1752 or something.

It's not entirely their fault. The postal strikes have had an effect too. Not everyone needs things to happen instantly anyway. Once opened and funded it offered the best rate for such an account.

For those that need constant App access to their money, there are plenty of options to choose from.
Not sure they will be around as long as CBS though.

jaypers

Charter have updated their interest rate document confirming that Easy Access up to and including Issue 29 increase to 3% from 23/1. No increase for Issue 30 and 31.
https://s3-eu-west-1.amazonaws.com/pdf.chartersavingsbank.co.uk/01502_savings_interest_summary.pdf

Bridlington1

Freedommm said:

EssexHebridean said:

yes, I'd echo the positive comments about Coventry. We've had accounts with them a while now, and been pleased overall. This has been the first tie we've had this issue since originally joining them as customers, and in any event, this isn't their fault, it's down to Royal Fail and their complete lack of any sort of postal service in our area! 

Thirdly, using a "grid card" posted - is technology from hundreds of years ago. 

The grid card is only used when using telephone banking. For logging into online accounts they use a OTP sent to your phone.

uptdale

Bridlington1 said:

Freedommm said:

EssexHebridean said:

yes, I'd echo the positive comments about Coventry. We've had accounts with them a while now, and been pleased overall. This has been the first tie we've had this issue since originally joining them as customers, and in any event, this isn't their fault, it's down to Royal Fail and their complete lack of any sort of postal service in our area! 

Thirdly, using a "grid card" posted - is technology from hundreds of years ago. 

The grid card is only used when using telephone banking. For logging into online accounts they use a OTP sent to your phone.

True, but they send an OTP not only to login, but also for each transaction.  The OTP to login can be by text, but the OTP to transact is only by voice call.  That makes it impractical to use if you are outside the UK (and possibly outside the EU) - it usually costs £1 a time to receive a voicecall abroad.

Coventry's customer service is very good, but because of this issue I have stopped using my Coventry account for receiving regular income.

TiVo_Lad

uptdale said:

True, but they send an OTP not only to login, but also for each transaction.  The OTP to login can be by text, but the OTP to transact is only by voice call.  That makes it impractical to use if you are outside the UK (and possibly outside the EU) - it usually costs £1 a time to receive a voicecall abroad.

If you're abroad you may also fall foul of the Terms and Conditions of the account:

https://www.coventrybuildingsociety.co.uk/member/help/savings/opening-an-account.html

From 1 January 2021, we're not able to service accounts for some customers who are outside the UK.

This means we might not open an account in the first place if you live outside the UK. If where you live changes, we may need to ask you to close the account or do it for you.

You need to tell us you’re moving or have moved abroad - call us on 0800 121 8899 (from abroad: +44 24 7655 5255) or write to us at:

Coventry Building Society

Economic House, High Street

Coventry, CV1 5QN

We’ll ask you to tell us your Tax Identification Number (TIN) for any countries where you’re tax resident, or if you’re a US citizen. This is an important part of the information we need to give HM Revenue & Customs (HMRC) in line with international tax law.

flobbalobbalob

EssexHebridean said:

yes, I'd echo the positive comments about Coventry. This isn't their fault, it's down to Royal Fail and their complete lack of any sort of postal service in our area! 

31 days and still no mail from Coventry. Difficult to blame royal mail in my case.

Bridlington1

flobbalobbalob said:

EssexHebridean said:

yes, I'd echo the positive comments about Coventry. This isn't their fault, it's down to Royal Fail and their complete lack of any sort of postal service in our area! 

31 days and still no mail from Coventry. Difficult to blame royal mail in my case.

It took about that length of time for a Christmas card I received to get through the postal system so I could still blame Royal Mail for that one. 

uptdale

TiVo_Lad said:

uptdale said:

True, but they send an OTP not only to login, but also for each transaction.  The OTP to login can be by text, but the OTP to transact is only by voice call.  That makes it impractical to use if you are outside the UK (and possibly outside the EU) - it usually costs £1 a time to receive a voicecall abroad.

If you're abroad you may also fall foul of the Terms and Conditions of the account:

https://www.coventrybuildingsociety.co.uk/member/help/savings/opening-an-account.html

From 1 January 2021, we're not able to service accounts for some customers who are outside the UK.

This means we might not open an account in the first place if you live outside the UK. If where you live changes, we may need to ask you to close the account or do it for you.

You need to tell us you’re moving or have moved abroad - call us on 0800 121 8899 (from abroad: +44 24 7655 5255) or write to us at:

Coventry Building Society

Economic House, High Street

Coventry, CV1 5QN

We’ll ask you to tell us your Tax Identification Number (TIN) for any countries where you’re tax resident, or if you’re a US citizen. This is an important part of the information we need to give HM Revenue & Customs (HMRC) in line with international tax law.

I don't live outside the UK.  But I go on holiday outside the UK, sometimes for a month or more (I'm retired).  I need to manage my finances when I am outside the UK.  That is when the problem arises.

km1500

uptdale said:

Bridlington1 said:

Freedommm said:

EssexHebridean said:

yes, I'd echo the positive comments about Coventry. We've had accounts with them a while now, and been pleased overall. This has been the first tie we've had this issue since originally joining them as customers, and in any event, this isn't their fault, it's down to Royal Fail and their complete lack of any sort of postal service in our area! 

Thirdly, using a "grid card" posted - is technology from hundreds of years ago. 

The grid card is only used when using telephone banking. For logging into online accounts they use a OTP sent to your phone.

True, but they send an OTP not only to login, but also for each transaction.  The OTP to login can be by text, but the OTP to transact is only by voice call.  That makes it impractical to use if you are outside the UK (and possibly outside the EU) - it usually costs £1 a time to receive a voicecall abroad.

Coventry's customer service is very good, but because of this issue I have stopped using my Coventry account for receiving regular income.

Since I have a substantial amount saved with Coventry, I am pleased they use grid cards which is something no fraudster can get hold of easily. I want them to use grid cards, voice ID, £1 calls from abroad and anything else they can think of - OTP for each keystroke would be great. I want them to make ID requirements for an account as stringent as possible so fraudsters cannot open scam accounts.