Regular Savings Accounts: The Best Currently Available List!

SFindlay

When you click the apply online button it brings you to a page which contains the specific regular saver (4) terms and conditions.
Para 1.5 states "You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."

So seems you cannot open this new regular saver if you already have an exisiting open Coventry regular saver.

What is it with the Coventry Regular Savers that people have to make an fuss about it EVERY time there's a new issue released. People bend the T&C on many other regular saver accounts but there is never the same amount of debate over them, unfortunately the Coventry ones always seem to end up with numerous posts  back and forward with people saying you can't have more than one issue at a time!! Numerous people have said they operate more than one issue without any problem so why can't people just believe  and accept what they're told and leave it at that??? 
If, despite what people say, you don't wish to open the new issue because already have a previous issue then thats your choice but just leave it at that and let others decide what they're going to do!!! 

Bobblehat

SFindlay said:

When you click the apply online button it brings you to a page which contains the specific regular saver (4) terms and conditions.
Para 1.5 states "You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."

So seems you cannot open this new regular saver if you already have an exisiting open Coventry regular saver.

What is it with the Coventry Regular Savers that people have to make an fuss about it EVERY time there's a new issue released. People bend the T&C on many other regular saver accounts but there is never the same amount of debate over them, unfortunately the Coventry ones always seem to end up with numerous posts  back and forward with people saying you can't have more than one issue at a time!! Numerous people have said they operate more than one issue without any problem so why can't people just believe  and accept what they're told and leave it at that??? 
If, despite what people say, you don't wish to open the new issue because already have a previous issue then thats your choice but just leave it at that and let others decide what they're going to do!!! 

The problem could be (not saying it will be) that Coventry may be within their rights to cancel one of your RS's or only pay out a low interest rate on one when it matures. The debate is really in the conflict between what several people have been told verbally by their CS and what has been published (which appears ambiguous at the very least). OK, the application system lets you open them, but do you get the full interest when they mature on all RS's held simultaneously?

Have "numerous" people stated that they have been paid out in full on all RS's that have matured when they have had more than one running at a time with the Coventry?

SFindlay

Have "numerous" people stated that they have been paid out in full on all RS's that have matured when they have had more than one running at a time with the Coventry?

Considering issue 2 hasn't been out long enough to mature thats not possible let alone issue 3 or 4 but numerous people stated they HAVE had full interest paid out upon issue 1 maturing whilst still holding issues 2 and 3. 
But as I said before if you're not wanting to take the "risk" you are worried about fair enough dont open another issue but we don't need the same regurgitation of T&C we've all read time and time again. 

Wheres_My_Cashback

Bobblehat said:

SFindlay said:

When you click the apply online button it brings you to a page which contains the specific regular saver (4) terms and conditions.
Para 1.5 states "You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."

So seems you cannot open this new regular saver if you already have an exisiting open Coventry regular saver.

What is it with the Coventry Regular Savers that people have to make an fuss about it EVERY time there's a new issue released. People bend the T&C on many other regular saver accounts but there is never the same amount of debate over them, unfortunately the Coventry ones always seem to end up with numerous posts  back and forward with people saying you can't have more than one issue at a time!! Numerous people have said they operate more than one issue without any problem so why can't people just believe  and accept what they're told and leave it at that??? 
If, despite what people say, you don't wish to open the new issue because already have a previous issue then thats your choice but just leave it at that and let others decide what they're going to do!!! 

The problem could be (not saying it will be) that Coventry may be within their rights to cancel one of your RS's or only pay out a low interest rate on one when it matures. The debate is really in the conflict between what several people have been told verbally by their CS and what has been published (which appears ambiguous at the very least). OK, the application system lets you open them, but do you get the full interest when they mature on all RS's held simultaneously?

Have "numerous" people stated that they have been paid out in full on all RS's that have matured when they have had more than one running at a time with the Coventry?

I think it's safe to say that those opening multiple issues wouldn't be doing so if they weren't getting paid the expected rates/interest on maturity. It's not as if it's something new so it doesn't need to be stated that the correct amount was paid. It would soon be known if otherwise.

Bobblehat

SFindlay said: ...........but we don't need the same regurgitation of T&C we've all read time and time again. 

I agree ... that's why I didn't do it!

happybagger

I've not gone through all the last week or so posts on this thread as I'm being a bit lazy and it's quite unwieldy now, but Bath BS legacy closed issue Reg Saver is reducing from 1.25% to 1% on 5 Jan. However, it has now been re-opened as a live account, max now raised from 15k to 100k now shows on their website.

Open ended, 20 to 250 each month, no missed payments, one w/d p/a. Variable rate. 

Rich2808

SFindlay said:

When you click the apply online button it brings you to a page which contains the specific regular saver (4) terms and conditions.
Para 1.5 states "You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."

So seems you cannot open this new regular saver if you already have an exisiting open Coventry regular saver.

What is it with the Coventry Regular Savers that people have to make an fuss about it EVERY time there's a new issue released. People bend the T&C on many other regular saver accounts but there is never the same amount of debate over them, unfortunately the Coventry ones always seem to end up with numerous posts  back and forward with people saying you can't have more than one issue at a time!! Numerous people have said they operate more than one issue without any problem so why can't people just believe  and accept what they're told and leave it at that??? 
If, despite what people say, you don't wish to open the new issue because already have a previous issue then thats your choice but just leave it at that and let others decide what they're going to do!!! 

Hardly making a fuss - merely pointing out the terms for the regular saver 4 do not permit you to have another regular saver of that or another issue unlike what an earlier poster suggested was the case for issue 4. 

If you don't comply with the terms and conditions of the account - well you can't complain if Coventry turn round later and say sorry you haven't complied so we are going to pay you no interest!  So at your risk be it. Maybe the Coventry will not notice - maybe they will when it comes to maturity. They do enforce some terms such as not being able to fund the RS from another Coventry account!
Its a bit like you arguing its ok to break the law and exceed the speed limit in your car because you have never been caught in a sense  - well not yet but maybe you will one day!  But terms and conditions also represent the legal position - your contract in a sense with the Coventry when you open the account.
As the saying goes - calm down dear!

[Deleted User]

Just putting in my thoughts on the Coventry BS Regular Saver discussion.....
I had Issue 1 (matured in October with expected interest) running along with Issue 2 (and possibly overlapping in time with Issue 3, haven't checked the dates).
I now have Issue 4 running along with Issues 2 and 3.
I think Coventry would have difficulty in enforcing any penalty action in respect of holding more than one RS issue at a time in light of the facts that:-
(a) They accept applications for new RS accounts from holders of live RS accounts of previous issue(s);
(b) At least with regard to Issue 4, their terms and conditions are ambiguous.

[Deleted User]

Just as a PS to my previous post.
The only institution which has ever closed one of my Regular Savers for breach of their rules on number of accounts was Nationwide BS. Having allowed me to open a second RS (of a different type) while holding an existing one (of a more advantageous type) they closed the second one after about a month of opening but paid me full interest on the money deposited up to the date of closing. 

kaMelo

Deleted_User said:

Just putting in my thoughts on the Coventry BS Regular Saver discussion.....
I had Issue 1 (matured in October with expected interest) running along with Issue 2 (and possibly overlapping in time with Issue 3, haven't checked the dates).
I now have Issue 4 running along with Issues 2 and 3.
I think Coventry would have difficulty in enforcing any penalty action in respect of holding more than one RS issue at a time in light of the facts that:-
(a) They accept applications for new RS accounts from holders of live RS accounts of previous issue(s);
(b) At least with regard to Issue 4, their terms and conditions are ambiguous.

The original regular saver terms "you can only hold one regular saver" This makes sense as issue one was the only one there was and you couldn't hold two of them. Issue two had the same terms yet some people opened an issue two whilst holding issue one. In fact as an existing customer you could log in to open one. To my knowledge no one has had an account downgraded because of holding versions one and two of their regular saver at the same time.  
Issue three and four I think tries to clarify by stating "you can only hold one version of a regular saver".
I.E. you can hold multiple regular savers but only one of each version. 
It would have been clearer though if they'd used the word "issue" rather than "version"

I take all that back after reading the full terms which are quite clear, specifically paragraph 1.5
https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=RSD4

1.5 You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time.