Regular Savings Accounts: The Best Currently Available List!

someone

Coventry
This was discussed back in November I’ve gone back and found this post in my history, you may need to look forward/back a few pages for the full discussion https://forums.moneysavingexpert.com/discussion/comment/77818721#Comment_77818721
As it’s something already discussed it might be worth the poster finance4all raising as a new thread in the forum. 

where_are_we

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

When you start the application for a Coventry RS, on the first page at the bottom, click on "Regular Saver (5) terms and conditions" link, where you will find the above. Previous posts wording might have applied in the past but this is unequivocal. When I log on and click on accounts to apply for, one of the options is to apply for a RS5 which does give the "green light" impression. Despite this I have decided not to apply for RS5. 

finance4all

I called them this morning and was told you can only have one. The lady was really surprised when she saw I have 2 already but was not able to open the 3rd one. 
On Twitter they told me: "You can only hold one Regular Saver (past or current issue) at any one time."
Coventry website is crashing every single time I am trying to open a new one

SFindlay

where_are_we said:

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

When you start the application for a Coventry RS, on the first page at the bottom, click on "Regular Saver (5) terms and conditions" link, where you will find the above. Previous posts wording might have applied in the past but this is unequivocal. When I log on and click on accounts to apply for, one of the options is to apply for a RS5 which does give the "green light" impression. Despite this I have decided not to apply for RS5. 

Wording may be unequivocal however that doesn't mean it is enforce or should put people off.

Point of this thread is not to discuss wording of accounts it is to help people with personal experiences and as has been said several times (always when a new issue is released) people can open and operate multiple Coventry accounts as long as different issues and those personal experiences are all that really matters. 

where_are_we

SFindlay - I already have 2 Coventry RS`s, the second of which was opened when the T&C`s wording was ambiguous. I would be a hypocrite to tell others not to open multiple accounts and I "sail close to the wind" on occasions. Finding the relevant T&C`s is sometimes not easy. Has anyone been rejected for a Coventry RS5?

RG2015

Coventry
I have issue 3 and today opened issue 5 after reading a post at 8:43 this morning (but before reading any subsequent posts)

I then noticed the following on my issue 3 Ts&Cs

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

I had not seen this on the Issue 5 Ts&Cs, so I phoned Coventry to see if this had been changed, and they told me that this was correct, and any payments into the account will be rejected. He was able to close the new account immediately. I have now subsequently found this restriction stated on the Issue 5 Ts&Cs.

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

typistretired

One advisor will say one thing and another say something different. If they can’t understand the terms and conditions how do they  expect customers to understand. 

RG2015

typistretired said:

One advisor will say one thing and another say something different. If they can’t understand the terms and conditions how do they  expect customers to understand. 

re: Coventry.

To be fair, the terms are pretty unequivocal. I just got caught out because I did not fully read the Summary Box

You can only be named on one Regular Saver (including any previous or subse/quent issues) at any one time.

SFindlay

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Shame there are all these people phoning up to provide feedback resulting in them talking about updating software (I'll believe it when I see it!!) rather than just making their own decision if they'll follow these unequivocal T&Cs or the personal experiences of people on forums they follow. Sounds like some people don't know a good thing when they see it and instead attempt to place further obstacles in front of people that don't need to be placed there!! 

colsten

RG2015 said:

He also said that they have had a lot of feedback, and that their IT people were attempting to update the software to decline any applications breaching this rule.

Well done all who helped achieve this 🤬🤬🤬