The Top Easy Access Savings Discussion Area

dekkard

jaypers said:

saverbynature said:

Freedommm said:

"Applied" for Coventry 6 access account. Well, site says they insist on sending you a paper form, anyway. Not received any email whatsoever to acknowledge the "start of application". 
Is that normal for them? 

I initially started an online application for this account last week but got interrupted before I could complete it and just came out of the website as there wasn't an option to save what I'd already done. When I started the application again after completing only a fraction of the questions I'd been asked before I was advised:
"To complete opening this account, you'll need to return the application form. Before we can open your account, you'll need to sign and return this application to us. Your account won't be opened until we have received this back and we have processed your application.Please print the PDF application form that has downloaded onto your computer and return it with

identification (if required) by:

Post

To FREEPOST CBS CUSTOMER SERVICES

OR

Email

Send your application (application details and signature page) and/or ID in by email to

savingsdocs@thecoventry.co.uk

.

We will need a full, clear photo of your ID and a clear photo of yourself holding your original photo-ID (Passport and/or Driving Licence). Please add your application number into the subject line.

Once we've opened your account, we'll confirm your new account details, including your sort code and account number, by post." 

I found this response rather strange as I've opened quite a few savings and banking accounts this year with a number of different banks/building societies without out any issues and wondered if the original application which was not completed had screwed things up. As there wasn't going to be any post collected until today I decided to leave it and query it with Coventry. When I called them this morning they checked their systems and found no trace of me or any of my applications at all, and advised there was no reason I would have been told to post my application in and suggested I tried again which I did, and the application went through online without a hitch taking me about 10-15 minutes in total. I also transferred funds into the account from my main bank account via faster payments about 5.30pm which showed on the Coventry account within about an hour. So if you've also been advised to send your Coventry application by post and not had issues opening accounts with other financial institutions it may be worth trying a new application. 
  

I would clear out your cache and cookies and try again in case something has been cached in your browser. 

Or try in Incognito mode, which amounts to the same thing.

Rudyson

saverbynature said:

Freedommm said:

"Applied" for Coventry 6 access account. Well, site says they insist on sending you a paper form, anyway. Not received any email whatsoever to acknowledge the "start of application". 
Is that normal for them? 

I initially started an online application for this account last week but got interrupted before I could complete it and just came out of the website as there wasn't an option to save what I'd already done. When I started the application again after completing only a fraction of the questions I'd been asked before I was advised:
"To complete opening this account, you'll need to return the application form. Before we can open your account, you'll need to sign and return this application to us. Your account won't be opened until we have received this back and we have processed your application.Please print the PDF application form that has downloaded onto your computer and return it with

identification (if required) by:

Post

To FREEPOST CBS CUSTOMER SERVICES

OR

Email

Send your application (application details and signature page) and/or ID in by email to

savingsdocs@thecoventry.co.uk

.

We will need a full, clear photo of your ID and a clear photo of yourself holding your original photo-ID (Passport and/or Driving Licence). Please add your application number into the subject line.

Once we've opened your account, we'll confirm your new account details, including your sort code and account number, by post." 

I found this response rather strange as I've opened quite a few savings and banking accounts this year with a number of different banks/building societies without out any issues and wondered if the original application which was not completed had screwed things up. As there wasn't going to be any post collected until today I decided to leave it and query it with Coventry. When I called them this morning they checked their systems and found no trace of me or any of my applications at all, and advised there was no reason I would have been told to post my application in and suggested I tried again which I did, and the application went through online without a hitch taking me about 10-15 minutes in total. I also transferred funds into the account from my main bank account via faster payments about 5.30pm which showed on the Coventry account within about an hour. So if you've also been advised to send your Coventry application by post and not had issues opening accounts with other financial institutions it may be worth trying a new application. 
  

I've been looking at these posts about Coventry, thinking I wasn't asked for ID, I was verified online as always. Your post has reminded me that I WAS asked for ID by Coventry, but when I phoned up querying it, the lady said, "Hang on, I'll try again for you" and verified me in seconds while i was on the phone. I suspect I must still have been logged in while talking to her, but don't remember for certain.

I now have three accounts with them and am very happy with them.

kidwell25

I currently have around £20k in the Al Rayan savings account earning 2.81% but would like to move this to Zopa in order to make use of the boosted pots. I was thinking I'd prefer not to completely close the Al Rayan, and leave £1 in it in case they increase the rate in future, but I've noted that there was a £5000 minimum deposit when I opened that account. Has anyone in practice reduced their balance to below £5000? Does it just reduce the rate of interest earned (maybe even to zero?) or is the account forcibly closed?

Aidanmc

kidwell25 said:

I currently have around £20k in the Al Rayan savings account earning 2.81% but would like to move this to Zopa in order to make use of the boosted pots. I was thinking I'd prefer not to completely close the Al Rayan, and leave £1 in it in case they increase the rate in future, but I've noted that there was a £5000 minimum deposit when I opened that account. Has anyone in practice reduced their balance to below £5000? Does it just reduce the rate of interest earned (maybe even to zero?) or is the account forcibly closed?

the account will remain open.

AmityNeon

kidwell25 said:

I currently have around £20k in the Al Rayan savings account earning 2.81% but would like to move this to Zopa in order to make use of the boosted pots. I was thinking I'd prefer not to completely close the Al Rayan, and leave £1 in it in case they increase the rate in future, but I've noted that there was a £5000 minimum deposit when I opened that account. Has anyone in practice reduced their balance to below £5000? Does it just reduce the rate of interest earned (maybe even to zero?) or is the account forcibly closed?

Neither. The account will remain open earning the full rate of interest.

[Deleted User]

I took my money out of Al Rayan, looked to close the account but you have to do so in writing which I can't be arsed with so I guess my account will remain open with no balance. Handy if they ever increase their rates again.

Band7

Deleted_User said:

I took my money out of Al Rayan, looked to close the account but you have to do so in writing which I can't be arsed with so I guess my account will remain open with no balance. Handy if they ever increase their rates again.

You can send them a Secure Message to ask for your account to be closed, and instructing them where to pay accrued interest where applicable. They might take a week before actioning it but it works ok.

[Deleted User]

Band7 said:

Deleted_User said:

I took my money out of Al Rayan, looked to close the account but you have to do so in writing which I can't be arsed with so I guess my account will remain open with no balance. Handy if they ever increase their rates again.

You can send them a Secure Message to ask for your account to be closed, and instructing them where to pay accrued interest where applicable. They might take a week before actioning it but it works ok.

Thanks. But wouldn't I be better off just leaving things as they are? Like I said, they may raise their rates again, they were top of the shop for quite a while.

Ifts

ColdIron said:

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

With the Coventry account opening process, it was the same for me, today I received my phone grid card (needed if you ever use telephone banking with them) and also the letter asking for a signature with a prepaid envelope.

Re the signature request - on the letter I received today it said:

If you need to make any changes in the future - for example, if you change your address or want to tell us what to do with your savings when a bond matures - we'll need to check your identity again. One of the ways to do this is by checking your signature...

masonic

Deleted_User said:

Band7 said:

Deleted_User said:

I took my money out of Al Rayan, looked to close the account but you have to do so in writing which I can't be arsed with so I guess my account will remain open with no balance. Handy if they ever increase their rates again.

You can send them a Secure Message to ask for your account to be closed, and instructing them where to pay accrued interest where applicable. They might take a week before actioning it but it works ok.

Thanks. But wouldn't I be better off just leaving things as they are? Like I said, they may raise their rates again, they were top of the shop for quite a while.

I would keep the current issue open as it may increase in rate, but the suggestion is useful for past issues, or if Al Rayan bring out a more competitive alternative.