The Top Easy Access Savings Discussion Area

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. 

Kazza242

According to Moneyfacts, Sainsbury's Bank are launching Defined Access Saver (issue 37), which will pay 2.87%.

It pays tiered interest rates on balances totalling:
2.87% on £1,000 - £500,000
1.05% on £1 - £999
0.90% on £500,001

The account is opened and managed online and the minimum opening amount is £1.  It allows 3 penalty-free withdrawals per year.  

Interest is paid yearly (on the anniversary of account opening).

https://www.sainsburysbank.co.uk/savings/sav_definedsaver_skip

@soulsaver FYI.

soulsaver

Kazza242 said:

According to Moneyfacts, Sainsbury's Bank are launching Defined Access Saver (issue 37), which will pay 2.87%.

It pays tiered interest rates on balances totalling:
2.87% on £1,000 - £500,000
1.05% on £1 - £999
0.90% on £500,001

The account is opened and managed online and the minimum opening amount is £1.  It allows 3 penalty-free withdrawals per year.  

Interest is paid yearly (on the anniversary of account opening).

https://www.sainsburysbank.co.uk/savings/sav_savings_zone

@soulsaver FYI.

Thanks, Kazza. Posted i n the ToTP trail atm until we get a Sainsbury's link