The Top Easy Access Savings Discussion Area

BigBlueSky

How is Coventry in terms of transfers in/out of accounts.  Are they instant or do they have a 24 hour delay where you lose interest like many others ?

Bridlington1

BigBlueSky said:

How is Coventry in terms of transfers in/out of accounts.  Are they instant or do they have a 24 hour delay where you lose interest like many others ?

Payments in are instant, as are transfers between Coventry accounts, but payments out of Coventry are processed the next working day.

BigBlueSky

Bridlington1 said:

BigBlueSky said:

How is Coventry in terms of transfers in/out of accounts.  Are they instant or do they have a 24 hour delay where you lose interest like many others ?

Payments in are instant, as are transfers between Coventry accounts, but payments out of Coventry are processed the next working day.

Thank you.  So transfers out of Coventry will lose one days interest or do they post date the payment to the day it actually leaves so you don't lose ?

Bridlington1

BigBlueSky said:

Bridlington1 said:

BigBlueSky said:

How is Coventry in terms of transfers in/out of accounts.  Are they instant or do they have a 24 hour delay where you lose interest like many others ?

Payments in are instant, as are transfers between Coventry accounts, but payments out of Coventry are processed the next working day.

Thank you.  So transfers out of Coventry will lose one days interest or do they post date the payment to the day it actually leaves so you don't lose ?

The payment is scheduled for the next working day and leaves the next working day so you don't lose out.

BigBlueSky

Bridlington1 said:

The payment is scheduled for the next working day and leaves the next working day so you don't lose out.

Perfect! - Thank you.

db3745

You're right of course, and it's not confined to Coventry. I swore never again, after the hoops I had to jump through to open a small Regular Saver with them in 2020 after having had a 5 year Cash ISA, and being signed up to online services. Felt like I had to swallow pride and dip into current Limited Access offer, but still, after logging in OK and applying, find I have to send them ID info before I can open account. I've lived at same address forever! They know everything about me. On the other hand, many Santander customers have had same experience when trying to apply for the 2.75% offer, while I - not having used them since Abbey days - was accepted without any fuss or question. Also I hope I don't have to go through the telephone call/code rigmarole when I want to move money that I had to today when trying to apply. Santander is so user-friendly in my short experience, though I know others have found differently.

Yellowstone2

Not sure if this has been mentioned? Can't spot it on any recent posts.
Coventry BS limited access saver increasing interest rate from 2.85% to 3.25% on 6th Jan 

Bridlington1

Yellowstone2 said:

Not sure if this has been mentioned? Can't spot it on any recent posts.
Coventry BS limited access saver increasing interest rate from 2.85% to 3.25% on 6th Jan 

Was mentioned a couple of weeks ago but has got lost somewhere among the other posts in this thread.

Yellowstone2

Just set my Coventry BS account up online, took 10 minutes. Was asked to set up telephone password, username and online password and given my new account number and sort code straight away, didn't say anything about having to send anything out for me to sign, they are just sending me a 'phone grid'. Odd that some people have needed to jump through extra hoops, maybe all my details were easily verified automatically. 

ColdIron

A really easy opening process, transferred some money in within 10 minutes

I got my phone grid last week. I also got a letter asking for a signature (not mentioned on opening) which I returned in the supplied envelope, I'd imagine this is standard