Regular Savings Accounts: The Best Currently Available List!

Emily_Joy

soulsaver said:

pecunianonolet said:

soulsaver said:

soulsaver said:

Co Op:
My OH's unactioned application is a month old tomorrow!

They are 'looking into it'... again!

With the possibility her 1st had 'evaporated', she made a 2nd application. It is also unactioned after c.2 weeks - Both applications were acknowledged by email.

Just checked - last accessed 24/03 - nothing showing.

Accessed just now intending to make a complaint... and it's there!

AFAICS There's no way to tell if that's the first or 2nd application... but if she get's 2 I'll let you all know.

You probably make more in compensation by raising a complaint compared to the interest the account would yield.

Too long and boring with the Co Op - they'll let it go to the FOS on cases they're pretty well bound to lose... never mind one that isn't clear cut - no regulated standards to measure against regarding time to open an account.

Perhaps I am missing something, but wouldn't you lose more if they chose to close your account and ban you for life? There is no obligation on them to offer you an account.

Section62

soulsaver said:

pecunianonolet said:

soulsaver said:

soulsaver said:

Co Op:
My OH's unactioned application is a month old tomorrow!

They are 'looking into it'... again!

With the possibility her 1st had 'evaporated', she made a 2nd application. It is also unactioned after c.2 weeks - Both applications were acknowledged by email.

Just checked - last accessed 24/03 - nothing showing.

Accessed just now intending to make a complaint... and it's there!

AFAICS There's no way to tell if that's the first or 2nd application... but if she get's 2 I'll let you all know.

You probably make more in compensation by raising a complaint compared to the interest the account would yield.

Too long and boring with the Co Op - they'll let it go to the FOS on cases they're pretty well bound to lose... never mind one that isn't clear cut - no regulated standards to measure against regarding time to open an account.

BCOBS 5.1.1 (Post sale requirements) says -

"A firm must provide a service in relation to a retail banking service which is prompt, efficient and fair to a banking customer and which has regard to any communications or financial promotion made by the firm to the banking customer from time to time."

https://www.handbook.fca.org.uk/handbook/BCOBS/5/

Not entirely clear when the "post sale" period starts. But arguably for an existing customer the application for an additional product may be considered to be a "...financial promotion made by the firm to the banking customer from time to time", which is occurring 'post sale'.

You're right though that "prompt" and "efficient" provide plenty of room for interpretation.

friolento

The COOP are certainly not fast with account opening, and 4+ weeks to process an application is quite ridiculous. With their recent switch offer, and with a really attractive 7% RS, they were no doubt swamped with applications. Add to this the news that they will be laying of 400 people (25%? of their staff), I can imagine that it's a dire working atmosphere at the COOP, with nobody going out of their way to do more than work to order and as slowly as possible. Staff will have job applications on their mind, and fear of getting laid off. I know it is frustrating to wait for your application to be processed, I have been there myself, and they messed about with my RS deposit without telling me. But please spare a thought for their staff.

Emily_Joy

Re: Co-Op: submitted current account application on 27th of February, then submitted RS application on 12th of March, it was open by 18th of March (probably earlier, but I didn't care to check). I can see many people could be frustrated by so slow service, but somehow it didn't bother me at all.

soulsaver

Emily_Joy said:

soulsaver said:

pecunianonolet said:

soulsaver said:

soulsaver said:

Co Op:
My OH's unactioned application is a month old tomorrow!

They are 'looking into it'... again!

With the possibility her 1st had 'evaporated', she made a 2nd application. It is also unactioned after c.2 weeks - Both applications were acknowledged by email.

Just checked - last accessed 24/03 - nothing showing.

Accessed just now intending to make a complaint... and it's there!

AFAICS There's no way to tell if that's the first or 2nd application... but if she get's 2 I'll let you all know.

You probably make more in compensation by raising a complaint compared to the interest the account would yield.

Too long and boring with the Co Op - they'll let it go to the FOS on cases they're pretty well bound to lose... never mind one that isn't clear cut - no regulated standards to measure against regarding time to open an account.

Perhaps I am missing something, but wouldn't you lose more if they chose to close your account and ban you for life? There is no obligation on them to offer you an account.

Perhaps you're missing what you should have quoted - I'm saying I (she) will not be making a complaint.

eta spolling

jameseonline

I've got a poopy Leeds EISA account with £1 in which I can use to transfer money out of Leeds, hopefully others might want to do the same.

Bridlington1

jameseonline said:

I've got a poopy Leeds EISA account with £1 in which I can use to transfer money out of Leeds, hopefully others might want to do the same.

Though just bear in mind the Leeds EISA isn't flexible so doing this could make a fairly big dent in your ISA allowance if you're not careful.

jameseonline

Bridlington1 said:

jameseonline said:

I've got a poopy Leeds EISA account with £1 in which I can use to transfer money out of Leeds, hopefully others might want to do the same.

Though just bear in mind the Leeds EISA isn't flexible so doing this could make a fairly big dent in your ISA allowance if you're not careful.

I think I only set it up to get money out of a regular saver on that I closed down &/or possibly just to protect my Leeds Building Society profile.

I also have a NatWest ISA I've done nothing with, had it for years.

Might need some ISA advice.

allegro120

Emily_Joy said:

Re: Co-Op: submitted current account application on 27th of February, then submitted RS application on 12th of March, it was open by 18th of March (probably earlier, but I didn't care to check). I can see many people could be frustrated by so slow service, but somehow it didn't bother me at all.

I was lucky too. Applied for RS on 22nd Feb, received confirmation that account is opened on 26th, funded on 27th.  5 days gap between application and deposit was quicker than I expected.  I can't recall any problems with opening current account either and bonus arrived on time as promised.

surreysaver

jameseonline said:

Bridlington1 said:

jameseonline said:

I've got a poopy Leeds EISA account with £1 in which I can use to transfer money out of Leeds, hopefully others might want to do the same.

Though just bear in mind the Leeds EISA isn't flexible so doing this could make a fairly big dent in your ISA allowance if you're not careful.

I think I only set it up to get money out of a regular saver on that I closed down &/or possibly just to protect my Leeds Building Society profile.

I also have a NatWest ISA I've done nothing with, had it for years.

Might need some ISA advice.

Don't use an ISA to move money around. Unless its a flexible ISA.
Just use a bog standard easy access account for that