Regular Savings Accounts: The Best Currently Available List!

fabsaver

The Co-operative seem very confused if they're opening my new regular saver or not 

The email I had from them on Thursday stated:
"Thank you for your recent application for a Regular Saver. We are delighted to tell you that your application has been approved.

In the next few days you'll receive the paperwork and information for your new account."

However the letter in the post today states:
".... we're completing some final checks before opening your account...
do decide to subsequently decline your application, we'll contact you to let you know.
You can now start saving...."

The letter does have a sort code and account number at the top but it seems very much a waste of paper otherwise 

subjecttocontract

I opened the Coop reg saver on Thursday and completed the Coop S/O at the same time. The first S/O payment is to be made on 25th (which will be 26th cos the 25th is a Sunday).  That's it. I don't need to do anything else. Just collect the proceeds in 12 months time. 

HHUK

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Mine doesn't. Received a 'We're looking forward to welcoming you to The Co-operative Bank' letter dated 22 Feb in today's post. Usual blurb about having everything they need for now, completing final checks etc.

It also states that I can now start saving, but am unsure how to do that given I have yet to receive the sort code and account number for the regular saver. I'm sure it will all sort itself out in the next few days.

EDIT - Have just seen @dcs34 's post above. I had missed the sort code and account number at the top right of my latter, but not tested to see whether or not it is active for me yet.

Bazzalona13295

fabsaver said:

The Co-operative seem very confused if they're opening my new regular saver or not 

The email I had from them on Thursday stated:
"Thank you for your recent application for a Regular Saver. We are delighted to tell you that your application has been approved.

In the next few days you'll receive the paperwork and information for your new account."

However the letter in the post today states:
".... we're completing some final checks before opening your account...
do decide to subsequently decline your application, we'll contact you to let you know.
You can now start saving...."

The letter does have a sort code and account number at the top but it seems very much a waste of paper otherwise 

Yep, me too, came this morning 🤷‍♂️

subjecttocontract

HHUK said:

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Mine doesn't. Received a 'We're looking forward to welcoming you to The Co-operative Bank' letter dated 22 Feb in today's post. Usual blurb about having everything they need for now, completing final checks etc.

It also states that I can now start saving, but am unsure how to do that given I have yet to receive the sort code and account number for the regular saver. I'm sure it will all sort itself out in the next few days.

EDIT - Have just seen @dcs34 's post above. I had missed the sort code and account number at the top right of my latter, but not tested to see whether or not it is active for me yet.

I don't understand why you have a problem. Did you not set up a S/O when you opened the regular saver account ?

Section62

subjecttocontract said:

HHUK said:

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Mine doesn't. Received a 'We're looking forward to welcoming you to The Co-operative Bank' letter dated 22 Feb in today's post. Usual blurb about having everything they need for now, completing final checks etc.

It also states that I can now start saving, but am unsure how to do that given I have yet to receive the sort code and account number for the regular saver. I'm sure it will all sort itself out in the next few days.

EDIT - Have just seen @dcs34 's post above. I had missed the sort code and account number at the top right of my latter, but not tested to see whether or not it is active for me yet.

I don't understand why you have a problem. Did you not set up a S/O when you opened the regular saver account ?

Many people won't set up a SO for various reasons including -

a) They prefer to manage their RS portfolio by making manual faster payments

b) They may not be able to fund their RS by a set amount each month

c) They want to avoid being in a situation where the account won't be fully funded from day 1

By opting to manually fund the RS account it is (subject to the bank's competence) usually possible to deposit the first month's funds the same day, thus maximising the interest earning potential.

In this case it seems not only have Co-op not given customers their account details promptly (thus preventing an early manual FP deposit), they (from your post) have also introduced a delay in taking the first SO payment for those who opted for that method.  So it remains to be seen which option is the better one from the point of view of early funding/interest earning (notwithstanding some people prefer/don't prefer one option vs another).

I asked whether others have got their details as we are getting close to month-end... hopefully Co-op won't leave us waiting until March.

surreysaver

subjecttocontract said:

HHUK said:

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Mine doesn't. Received a 'We're looking forward to welcoming you to The Co-operative Bank' letter dated 22 Feb in today's post. Usual blurb about having everything they need for now, completing final checks etc.

It also states that I can now start saving, but am unsure how to do that given I have yet to receive the sort code and account number for the regular saver. I'm sure it will all sort itself out in the next few days.

EDIT - Have just seen @dcs34 's post above. I had missed the sort code and account number at the top right of my latter, but not tested to see whether or not it is active for me yet.

I don't understand why you have a problem. Did you not set up a S/O when you opened the regular saver account ?

How do you set up a Standing Order without the account details?  
I have also received the riddle in the post today as described by others.

10_66

surreysaver said:

subjecttocontract said:

HHUK said:

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Mine doesn't. Received a 'We're looking forward to welcoming you to The Co-operative Bank' letter dated 22 Feb in today's post. Usual blurb about having everything they need for now, completing final checks etc.

It also states that I can now start saving, but am unsure how to do that given I have yet to receive the sort code and account number for the regular saver. I'm sure it will all sort itself out in the next few days.

EDIT - Have just seen @dcs34 's post above. I had missed the sort code and account number at the top right of my latter, but not tested to see whether or not it is active for me yet.

I don't understand why you have a problem. Did you not set up a S/O when you opened the regular saver account ?

How do you set up a Standing Order without the account details?  
I have also received the riddle in the post today as described by others.

If already a current account holder with them, the letter should have an account number and sort code at the top right of the letter, next to "Account Number".

10_66

Re Co-op Regular Saver; I've just spoken to them, and I was advised to err on the safe side and wait until account fully accepted before making initial payment into it.  I was advised that if I made a payment into it at present, it would probably bounce back.  Also advised that account should appear online on Monday or possibly Tuesday.

subjecttocontract

surreysaver said:

subjecttocontract said:

HHUK said:

Section62 said:

Has anyone's Co-op RS account appeared in their online banking "My accounts" list yet?

Mine doesn't. Received a 'We're looking forward to welcoming you to The Co-operative Bank' letter dated 22 Feb in today's post. Usual blurb about having everything they need for now, completing final checks etc.

It also states that I can now start saving, but am unsure how to do that given I have yet to receive the sort code and account number for the regular saver. I'm sure it will all sort itself out in the next few days.

EDIT - Have just seen @dcs34 's post above. I had missed the sort code and account number at the top right of my latter, but not tested to see whether or not it is active for me yet.

I don't understand why you have a problem. Did you not set up a S/O when you opened the regular saver account ?

How do you set up a Standing Order without the account details?  
I have also received the riddle in the post today as described by others.

To open the regular saver you need to have an existing Coop current account. You have the option to set up a standing order from the current account into the regular saver when you open it. Simples.