Regular Savings Accounts: The Best Currently Available List!

Bridlington1

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Bob2000

ThePirates said:

t1redmonkey said:

I've been able to open the new Coventry Loyalty RS even though I haven't been a member since 1st January 2024.

Yeah me too! 🤫

You both jammy so so!
I tried but wouldn't  let me.

Section62

Bridlington1 said:

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Been a while since I closed a Coventry account - is the process fully automated, or does it involve some manual input at Coventry's end?  Wondering whether closure and reopening on 01/01/2025 will be possible if the latter case applies....

Bridlington1

Section62 said:

Bridlington1 said:

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Been a while since I closed a Coventry account - is the process fully automated, or does it involve some manual input at Coventry's end?  Wondering whether closure and reopening on 01/01/2025 will be possible if the latter case applies....

I refreshed their Loyalty RS Issue 2 online earlier this year.

I was able to close the old one and reopen the new one in one sitting without having to log out of online banking, this was at around 10 or 11pm IIRC.

roked

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

chris_the_bee

roked said:

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

HMRC will class it as income which is taxable. The Winners will be responsible for any individual tax liabilities

WillPS

chris_the_bee said:

roked said:

HHUK said:

Coventry Building Society Sunny Day Saver

Surprised and very happy to receive this email today. Only 20 prizes each month: 1 x £500, 5 x £200 and 14 x £50. Good return on my monthly £10 subscription.

You're one of our Sunny Day winners!

Dear Mr XXXX

Congratulations, you’ve won £200 in our Sunny Day Saver prize draw for December!

Congrats to a fellow winner! I only got a lowly £50 today but I am happy with that.

Anyone know if it counts for PSA? I assumed not, as its a prize, just dont understand why they added the bit about tax liabilities in the T&Cs :

The Prize is a cash prize, paid in pounds sterling (£) and is paid tax-free. The Winners will be responsible for any individual tax liabilities

HMRC will class it as income which is taxable. The Winners will be responsible for any individual tax liabilities

It's a competition prize. It's not taxable in the UK.

The warning is just boilerplate stuff to disclaim them in case you are subject to other jurisdictions where prizes are treated as income (such as the US).

gt94sss2

t1redmonkey said:

I've been able to open the new Coventry Loyalty RS even though I haven't been a member since 1st January 2024.

I believe Coventry have form in subsequently closing accounts opened to which people are not entitled too.

fonesaver

charlie12525 said:

ThePirates said:

Coventry Loyalty Saver
Opened via the app and funded in 2mins!
Thanks @Bridlington1

Tried to open on the app. I try to enter my UK nationality but it does not let me progress. Will try tomorrow.

Same here...applied online with no problem 

masonic

Bridlington1 said:

masonic said:

Coventry Seasonal RS

Might take a punt and wait until New Years Day to open this one, so I can include it in my list to fund on the 1st of each month.

I've taken the half and half approach. I've opened the account today but not funded it, if it goes NLA before 1/1/25 I can fund it when it goes NLA, if it's still available I retain the right to close the account subject to a penalty of 30 days interest on my nil balance and reopen it the same day.

Great idea. I think I'll follow in your footsteps.