The Top Easy Access Savings Discussion Area

SJMALBA

What_time_is_it said:

alternate said:

I believe this account is a withdrawn account but many will likely still have it.

Coventry Building Society


Good news - we’re increasing the interest rate on your Limited Access Saver (Online) again.  New rate 2.25% APR.

Is that the Four Access Saver?

It applies to the 'Four Access Saver', too.

https://www.coventrybuildingsociety.co.uk/content/dam/cbs/member/pdfs/savings/rate-change-notice.pdf

janusdesign

with the new Cambridge BS account, does anyone know if they send the User ID in the welcome letter by post? Opened a Newcastle BS account yesterday and they sent the userid by email, but nothing arrived so far from Cambridge... if I have to wait for it by post, then I may not be able to login for another week!

ForumUser7

janusdesign said:

with the new Cambridge BS account, does anyone know if they send the User ID in the welcome letter by post? Opened a Newcastle BS account yesterday and they sent the userid by email, but nothing arrived so far from Cambridge... if I have to wait for it by post, then I may not be able to login for another week!

Unsure what the process is now, but when I opened my account in June I called up to set up online access once I got confirmation my application was accepted, then I got sent a USER ID by email and registered. Might’ve changed now, but that’s what I did a few months ago

soulsaver

Bit of an issue with Cambridge BS:

In the summary it makes no mention of limited access; but in the small print 'special terms & conditions' 

'5.2 Your Saver allows one withdrawal per calendar month'.

your-saver-september-2022.pdf (cambridgebs.co.uk)

IMO it's a big enough issue that it should be in the summary.

eta link
Ignore - was rushing around and missed it... twice lol

janusdesign

it's mentioned on the site and in the summary box of that PDF...

"Can I withdraw money?
After the first 14 days you can withdraw cleared funds from your account once every calendar month without giving notice or paying a fee. More frequent withdrawals are not permitted."

mebu60

What_time_is_it said:

alternate said:

I believe this account is a withdrawn account but many will likely still have it.

Coventry Building Society


Good news - we’re increasing the interest rate on your Limited Access Saver (Online) again.  New rate 2.25% APR.

Is that the Four Access Saver?

I had email saying increasing rate on Four Access Saver statement - again.

Got all excited until realised they weren't increasing rate again, just telling me again about the increase on 07:10 to 2.25%. 

mebu60

soulsaver said:

Bit of an issue with Cambridge BS:

In the summary it makes no mention of limited access; but in the small print 'special terms & conditions' 

'5.2 Your Saver allows one withdrawal per calendar month'.

your-saver-september-2022.pdf (cambridgebs.co.uk)

IMO it's a big enough issue that it should be in the summary.

eta link

It is in the summary box. Manage the account: Can I withdraw money? After the first 14 days you can withdraw cleared funds from your account once every calendar month without giving notice or paying a fee. More frequent withdrawals are not permitted. 

mebu60

Kazza242 said:

According to Moneyfacts, the Sainsbury's Bank Defined Access Saver (issue 32) rate will be increasing to 2.00%.

It is a limited access account, which allows 3 penalty free withdrawals per year.  

The 2.00% rate will be paid on balances between £1,000 - £500,000 (FSCS compensation limit £85K).

See the link below for more details: 

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

The current Defined Access is Issue 31 at 1.55%. Issue 32 is a new account that Issue 31 holders will have to apply for, wait a week or so for it to be linked to your account then call to go through the transfer and close rigmarole. My Issue 31 had been reduced to the minimum £1k anyway. Have set up an Issue 32 2.0% and have applied for Cambridge BS Your Saver 2.1%. 

Thanks to those who provided Al Rayan insights and info the other day. My inertia has paid dividends now I can replicate interest in an old school manner :-) 

Bridlington1

mebu60 said:

Kazza242 said:

According to Moneyfacts, the Sainsbury's Bank Defined Access Saver (issue 32) rate will be increasing to 2.00%.

It is a limited access account, which allows 3 penalty free withdrawals per year.  

The 2.00% rate will be paid on balances between £1,000 - £500,000 (FSCS compensation limit £85K).

See the link below for more details: 

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

The current Defined Access is Issue 31 at 1.55%. Issue 32 is a new account that Issue 31 holders will have to apply for, wait a week or so for it to be linked to your account then call to go through the transfer and close rigmarole. My Issue 31 had been reduced to the minimum £1k anyway. Have set up an Issue 32 2.0% and have applied for Cambridge BS Your Saver 2.1%. 

Thanks to those who provided Al Rayan insights and info the other day. My inertia has paid dividends now I can replicate interest in an old school manner :-) 

You don't have to wait for the account to link with your old account. You can just register for internet banking for Issue 32 separately and close the Issue 31. You will end up with 2 internet banking profiles but it seems to work well. Your old internet banking profile will close after you've closed Issue 31.

mebu60

Bridlington1 said:

You don't have to wait for the account to link with your old account. You can just register for internet banking for Issue 32 separately and close the Issue 31. You will end up with 2 internet banking profiles but it seems to work well. Your old internet banking profile will close after you've closed Issue 31.

Thanks B1, have made a mental note of that, might use your approach in future if my Sainsbury's gets into £80k+ territory again. With just the £1k in there currently I'll wait it out for the simplicity of keeping the same user id.