The Top Easy Access Savings Discussion Area

dlevene

Just moved my savings from the Coventry 6 access to the new 4 access - suspiciously easy!

Makes me feel better about taking a pass on the post-only Hanley 4.5% saver.

jak22

The Coventry 4 access is a good rate - but caution in moving major funds in just yet is understandable. Until a few months ago their limited kept up with BoE rises and there was a reasonable gap above unlimited EA accounts so there wasn't much need to shuffle funds for quite a time. Then the gap disappeared and eventually fell behind leading rates, and even this issue doesn't have that much of a gap for having only 4 withdrawals. 

georged123

Zaul22 said:

Opening a Coventry account has now become as massive faff involving mailing in an application form with photos of yourself holding your ID. No mention of just taking it into a branch. Last year I had an easy access account and it just opened online, there was none of this faff. Must be new KYC rules that have come in since then. 

I had the same, it was a right faff and haven’t been given anything, not even an email.

Has everyone else managed to sign up straightaway no issues?

where_are_we

allegro120 said:

TiVo_Lad said:

I couldn't see a way to do an "Internal Transfer and Close"? I have £1 in the old Six Access and just wanted to move it over. Is this possible?

I don't think so. I've tried the same yesterday - can only withdraw from 6-access to the nominated bank account.  So I closed the account, had only £4 there and I couldn't see any point keeping it (this closure won't break my membership).

I've opened 4-access with £1, but not sure if I want funding it any further at this stage.  4% might soon be not very competitive, I'll probably wait and see how Coventry will react on the next BoE raise.  I'm quite happy with combination of Gatehouse and Chip for EA at the moment. 

In your 6 access account choose "payments" - then you have 2 options - one is to your nominated account - the other is to something like "another account" - choose the second option and the you will be presented with the option to transfer internally to another Coventry account - choose your new 4 access account and complete the amount. I left £1 in my 6 access account paying 3.6% in case they increase the interest rate on that account. The whole process of opening the new 4-access and transferring the 6 access money took 10 or 15 minutes.

Bridlington1

georged123 said:

Zaul22 said:

Opening a Coventry account has now become as massive faff involving mailing in an application form with photos of yourself holding your ID. No mention of just taking it into a branch. Last year I had an easy access account and it just opened online, there was none of this faff. Must be new KYC rules that have come in since then. 

I had the same, it was a right faff and haven’t been given anything, not even an email.

Has everyone else managed to sign up straightaway no issues?

I've opened a fair few Coventry accounts over the last year and have never had any issues with opening new accounts, the four access saver included. I've actually found it to be one of the easiest banks/building societies to open new accounts with.

georged123

Bridlington1 said:

georged123 said:

Zaul22 said:

Opening a Coventry account has now become as massive faff involving mailing in an application form with photos of yourself holding your ID. No mention of just taking it into a branch. Last year I had an easy access account and it just opened online, there was none of this faff. Must be new KYC rules that have come in since then. 

I had the same, it was a right faff and haven’t been given anything, not even an email.

Has everyone else managed to sign up straightaway no issues?

I've opened a fair few Coventry accounts over the last year and have never had any issues with opening new accounts, the four access saver included. I've actually found it to be one of the easiest banks/building societies to open new accounts with.

I’ve never banked there before so I can only presume it’s because I’m new to their system but I haven’t had this sort of hassle with other companies.

Zaul22

georged123 said:

Zaul22 said:

Opening a Coventry account has now become as massive faff involving mailing in an application form with photos of yourself holding your ID. No mention of just taking it into a branch. Last year I had an easy access account and it just opened online, there was none of this faff. Must be new KYC rules that have come in since then. 

I had the same, it was a right faff and haven’t been given anything, not even an email.

Has everyone else managed to sign up straightaway no issues?

Just ignore the previous application and start again. It could be a check on a random % of applications. 2nd attempt was very quick and easy like Brid said. It could be easier for previous customers though. 

UncleK

Took five minutes to open new account, close old account and move money plus accrued interest to new account

CooperSF

Chip clearly taking the ….

Bobblehat

where_are_we said:

In your 6 access account choose "payments" - then you have 2 options - one is to your nominated account - the other is to something like "another account" - choose the second option and the you will be presented with the option to transfer internally to another Coventry account - choose your new 4 access account and complete the amount. I left £1 in my 6 access account paying 3.6% in case they increase the interest rate on that account. The whole process of opening the new 4-access and transferring the 6 access money took 10 or 15 minutes.

ECHO .... Echo .... echo  ...... see page 1374 1:19pm..... ?