Regular Savings Accounts: The Best Currently Available List!

trickydicky14

typistretired said:

Owing to the virus they are allowing you to copy your passport or driving licence and email to them.  Only an original recent household bill needs to go with application.

Just to update for anyone interested in the Furness regular saver,

I spoke to customer service and was told due to covid, I could just photo copy my driving licence or passport and utility bill and post it back with my application form and cheque.

So currently no branch face to face needed or original documents needed so fill your boots.

cricidmuslibale

schiff said:

They won't, because it would be nightmare for them to put any correction into effect, and it would damage the relationship between them and their customers. 

I understand how it wouldn't be easy for Coventry to put any correction into effect but a nightmare? Perhaps that's overstating it just a tad. And maybe I'm being thick but I simply don't see how would it damage the relationship between them and their customers to clarify once and for all whether only one of their Regular Savers could be held at any one time or whether it is perfectly ok to hold more than one, provided each Regular Saver is from a different issue?

someone

Furness BS

trickydicky14 said:

Just to update for anyone interested in the Furness regular saver,

I spoke to customer service and was told due to covid, I could just photo copy my driving licence or passport and utility bill and post it back with my application form and cheque.

So currently no branch face to face needed or original documents needed so fill your boots.

FYI for anyone opening with the intention of accessing one of their Agency locations in the future. Had a letter from Furness today that they are closing their Agency network.

https://www.furnessbs.co.uk/contact-us/closure-of-the-agency-network/

It's a great shame as my experience had been very positive of the Horwich agency when I opened my regular saver. I hope some of the agency businesses will be able to limit any job losses but I suspect this will be inevitable at some locations. The fact these locations may be able to redeploy staff may have factored into why it's the agency network affected.

lhsecons

cricidmuslibale said:

schiff said:

They won't, because it would be nightmare for them to put any correction into effect, and it would damage the relationship between them and their customers. 

I understand how it wouldn't be easy for Coventry to put any correction into effect but a nightmare? Perhaps that's overstating it just a tad. And maybe I'm being thick but I simply don't see how would it damage the relationship between them and their customers to clarify once and for all whether only one of their Regular Savers could be held at any one time or whether it is perfectly ok to hold more than one, provided each Regular Saver is from a different issue?

Maybe you could take it up with them rather than filling the thread with page after page of  the same point

Wheres_My_Cashback

lhsecons said:

cricidmuslibale said:

schiff said:

They won't, because it would be nightmare for them to put any correction into effect, and it would damage the relationship between them and their customers. 

I understand how it wouldn't be easy for Coventry to put any correction into effect but a nightmare? Perhaps that's overstating it just a tad. And maybe I'm being thick but I simply don't see how would it damage the relationship between them and their customers to clarify once and for all whether only one of their Regular Savers could be held at any one time or whether it is perfectly ok to hold more than one, provided each Regular Saver is from a different issue?

Maybe you could take it up with them rather than filling the thread with page after page of  the same point

Unfortunately It's typical of the type of postings you expect to see on MSE during Lockdowns and school/college/uni holidays !

cricidmuslibale

"Maybe you could take it up with them rather than filling the thread with page after page of  the same point". I'm very likely to take it up with them. This thread has mostly been filled up recently with posts about Virgin and how to apply for their 1.75% Regular Saver which you've conveniently overlooked. And the many contributions about the lack of clarity re. Coventry's Regular Savers as to how many one can hold at the same time have come from a good number of other posters besides me and on other threads besides this one!

"Unfortunately It's typical of the type of postings you expect to see on MSE during Lockdowns and school/college/uni holidays !"
Being 'superior' and arrogant is not an appealing trait in any human being!

cricidmuslibale

surreysaver said:

cricidmuslibale said:

kaMelo said:

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.

"1.5 You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."
This condition could easily be interpreted as meaning (a) 'You can't open more than one Regular Saver' with the Coventry at the same time i.e. in practice this would be two or more Regular Savers of the same issue (4 at the moment) being opened simultaneously and (b) you can only have one Regular Saver newly opened in your name (whether opened by you or someone else on your behalf) at any one time. Both (a) and (b) would obviously preclude more than one Regular Saver Issue 4 being opened by you (or someone else on your behalf) at the same time but neither (a) nor (b) would prevent anyone who has previously opened any of Issues 1, 2 and 3 whilst they were available from opening an Issue 4 from now until it is now longer available.

Thus, to me at least, the true meaning of paragraph 1.5 is not at all clear and unambiguous, and therefore seems perfectly reasonable to me (on careful consideration) to consider it entirely within the 'Coventry rules' to open an Issue 4 Regular Saver whilst still holding a previous issue Regular Saver with them.

What is absolutely clear and unambiguous is that with the Coventry you can only hold one Regular Saver of each issue; that is very clearly stated on the summary page for Issue 4 as it has been for all three previous issues!
 

I've actually struggled to find the product specific terms, as there's no link to them in the summary 

When you begin the application process for a Coventry Regular Saver Issue 4 there is a direct link to the product specific terms on the starting page I think. 

kaMelo

surreysaver said:

cricidmuslibale said:

kaMelo said:

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.

"1.5 You can only open and be named on one Regular Saver (including any previous or subsequent issues) at any one time."
This condition could easily be interpreted as meaning (a) 'You can't open more than one Regular Saver' with the Coventry at the same time i.e. in practice this would be two or more Regular Savers of the same issue (4 at the moment) being opened simultaneously and (b) you can only have one Regular Saver newly opened in your name (whether opened by you or someone else on your behalf) at any one time. Both (a) and (b) would obviously preclude more than one Regular Saver Issue 4 being opened by you (or someone else on your behalf) at the same time but neither (a) nor (b) would prevent anyone who has previously opened any of Issues 1, 2 and 3 whilst they were available from opening an Issue 4 from now until it is now longer available.

Thus, to me at least, the true meaning of paragraph 1.5 is not at all clear and unambiguous, and therefore seems perfectly reasonable to me (on careful consideration) to consider it entirely within the 'Coventry rules' to open an Issue 4 Regular Saver whilst still holding a previous issue Regular Saver with them.

What is absolutely clear and unambiguous is that with the Coventry you can only hold one Regular Saver of each issue; that is very clearly stated on the summary page for Issue 4 as it has been for all three previous issues!
 

I've actually struggled to find the product specific terms, as there's no link to them in the summary 

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=RSD4

(The link is actually in the post you quoted)

schiff

Saffron BS have announced the 12 Months Fixed Rate Members' RS (Issue 8). £50 to £500 per month - 1.5%. Available to account holders during the last 12 months. I only discovered this checking if I could make 13 payments into my Issue 4 which matures on Jan 19th. I can't, tried it before but it was sent back.

veryintrigued

schiff said:

Saffron BS have announced the 12 Months Fixed Rate Members' RS (Issue 8). £50 to £500 per month - 1.5%. Available to account holders during the last 12 months. I only discovered this checking if I could make 13 payments into my Issue 4 which matures on Jan 19th. I can't, tried it before but it was sent back.

Saffron 12 Month Fixed Rate Members Regular Saver (Issue 8)

Great spot - thank you for this.

This product must be very recent as they still had the postcode restriction in for their only RS only a day or so ago.

It's a great product in that it's fixed and also allows penalty free withdrawals.

Note that if you apply online whilst signed in you weirdly get asked what initial deposit is up to a maximum of £6500!

PS:

If you are using internet banking to send funds to an account you hold with the Saffron Building Society for the first time you should use the new Sort Code 20-74-21, Account Number 00775991 and quote your Saffron Building Society Account number as the reference.