Regular Savings Accounts: The Best Currently Available List!

SoozyJ22

I've just received an email from Coventry BS regarding the maturity of my regular saver later this month but it keeps referring to a letter which I haven't received: "If you've chosen option 1 ..."If you've already given us your instructions ..." otherwise "Please read the letter".

I've logged into my online account in case any options show there but can't see anything. 

I just want to transfer the money out when the account matures. Can someone who's recently received the maturity letter let me know if I need to do something up front for that to happen? I was just expecting it to mature and then go in to my online account to transfer out. 

colsten

SoozyJ22 said:

I've just received an email from Coventry BS regarding the maturity of my regular saver later this month but it keeps referring to a letter which I haven't received: "If you've chosen option 1 ..."If you've already given us your instructions ..." otherwise "Please read the letter".

I've logged into my online account in case any options show there but can't see anything. 

I just want to transfer the money out when the account matures. Can someone who's recently received the maturity letter let me know if I need to do something up front for that to happen? I was just expecting it to mature and then go in to my online account to transfer out. 

You don't need to do anything now. Your matured funds will be transferred automatically to their Easy Access Saver (0.3% AER), from which you can then withdraw them in online banking. You can do exactly what you would like to do, and you don't have to give any prior notice or instructions.

The email they sent this morning seems to be a boilerplate email which refers to a letter you are supposed to have got. I received mine on Saturday, so yours might still be in the post. The letter is lengthy but in essence just says what I said above.

ctdctd

SoozyJ22 said:

I've just received an email from Coventry BS regarding the maturity of my regular saver later this month but it keeps referring to a letter which I haven't received: "If you've chosen option 1 ..."If you've already given us your instructions ..." otherwise "Please read the letter".

I just want to transfer the money out when the account matures. Can someone who's recently received the maturity letter let me know if I need to do something up front for that to happen? I was just expecting it to mature and then go in to my online account to transfer out.

I've had the email and also the letter - it just says "We'll automatically move your savings to an Easy Access Saver (6) and close your regular saver"

No mention of Option 1 and it says "You don't need to do anything" to get the above.

It does warn not to move anything before it turns up in the Easy Access saver or you might get a 30 day interest penalty.

Methinks Email department not communicating with the Letter department!

quirkydeptless

I received the letter dated 03-SEP and the email Today, as described above.

You can send a secure message online to follow up on your missing letter, although just doing nothing will mean is just goes into an Easy Access Saver (6) according to the letter.

SoozyJ22

Thanks everyone. Good to hear that I don't actually need to do anything 

1882

Thanks for allaying my fears as I too got the email but not the letter, so far at least.

polymaff

SoozyJ22 said:

Thanks everyone. Good to hear that I don't actually need to do anything 

Other than open a new RS. ...

SoozyJ22

polymaff said:

SoozyJ22 said:

Thanks everyone. Good to hear that I don't actually need to do anything 

Other than open a new RS. ...

That goes without saying  

1882

I presume I shall be unable to open a new RS with Coventry as I already have an issue 2 account running and previous,posts on here suggest I shouldn't even have been allowed it as I had the original issue on the go.

cosh25

Cov BS have replaced the Regular Saver (Issue 2) with an Issue 3 paying a lower 1.55% (everything else looks the same), but I presume the timing is to coincide with a large number of Issue 1’s maturing and people looking to open a new one soon upon said maturity.