Regular Savings Accounts: The Best Currently Available List!

colsten

schiff said:

Do they give you an option which one to leave open?

The letter specifies exactly which ones to close and which ones to keep. Strangely, they still allow me to keep more than one.....

what7 said:

What's with the 23 may 2020 cut off date? Is that when you opened your 2nd account?

I have absolutely no idea. I never opened any account with them on 23 May 2020. 

I should add that I think their advised actions are more than fair. Their T&Cs are pretty clear and they could have been a lot harsher.

 

Ed-1

colsten said:

schiff said:

Do they give you an option which one to leave open?

The letter specifies exactly which ones to close and which ones to keep. Strangely, they still allow me to keep more than one.....

what7 said:

What's with the 23 may 2020 cut off date? Is that when you opened your 2nd account?

I have absolutely no idea. I never opened any account with them on 23 May 2020. 

I should add that I think their advised actions are more than fair. Their T&Cs are pretty clear and they could have been a lot harsher.

I think the rationale behind this cut-off is that accounts opened before then would be maturing anyway after the 2 month notice period.

what7

I opened issue1 on Sep 2019

Issue 2 1.85% was available around 16 May 2020, this thread page 83

Issue 3 1.55% was available 10 September 2020, this thread page 140

Issue 4 1.3% was available 27 November 2020, this thread page 207

Issue 5 1.05% is availble now

RG2015

colsten said:

This settles the question about multiple Coventry Regular Savers 😄. 

It was brilliant whilst it lasted! Many thanks again to busybodies who kept ringing Coventry about it. 

Special_Saver2 said:

Coventry BS Regular Saver (Issue 5)

You cannot transfer in money from another Coventry BS account. You can only have one version of a regular saver account at a time. (Some members of this forum have reported that they have been able to open this account in addition to having a previous version of this regular saver account, even though this is against the terms and conditions.)

I wonder if this thread is to blame for the busybodies?

cricidmuslibale

pafpcg said:

colsten said:

This settles the question about multiple Coventry Regular Savers 😄.

It was brilliant whilst it lasted! Many thanks again to busybodies who kept ringing Coventry about it.

Thanks for that.  I entirely share your sentiments.  So do I.

I note the paragraph: "You'll be able to keep any account opened before 23rd May 2020 (where applicable) and the first account opened after 23 May 2020 only."  So any account opened before 23-May-2020 is ignored and only the first account opened since 23-May will be allowed; any subsequent regular saver will be closed. 

That means for me that my Issue 3 account (opened in September) will be allowed but the Issue 4 account opened in December is in danger.  I didn't try to open any later accounts.  I'm hoping that Coventry will be generous with those who failed to read the small print buried in the "Specific Terms for Regular Saver (4)" when the Summary document makes no mention of the restriction...  I'm in exactly the same boat as you here! And I especially agree with the final sentence just above this one!

veryintrigued said:

pafpcg said:

colsten said:

This settles the question about multiple Coventry Regular Savers 😄.

It was brilliant whilst it lasted! Many thanks again to busybodies who kept ringing Coventry about it.

Thanks for that.  I entirely share your sentiments.

I note the paragraph: "You'll be able to keep any account opened before 23rd May 2020 (where applicable) and the first account opened after 23 May 2020 only."  So any account opened before 23-May-2020 is ignored and only the first account opened since 23-May will be allowed; any subsequent regular saver will be closed. 

That means for me that my Issue 3 account (opened in September) will be allowed but the Issue 4 account opened in December is in danger.  I didn't try to open any later accounts.  I'm hoping that Coventry will be generous with those who failed to read the small print buried in the "Specific Terms for Regular Saver (4)" when the Summary document makes no mention of the restriction...

Definitely a salient lesson here to a new type of poster who like to shout about 'Ive got x type of these' in some sort of testosterone filled 'look at me'....until it goes horribly wrong.

Same for 'Ive got y type of current accounts' and same for 'Ive got z closed high interest rate, variable, account'.

By shouting off you give ammunition to those who are either jealous or have upset before to contact the said institution.

By all means highlight the products in the first instance but don't then peacock around when these are variable rates.

Probably the 'look at me' generation we're now in.  I couldn't agree more with everything you've written here! Very well put!

someone said:

Coventry BS

It would seem by the wording of the letter they would (if sent to me) be closing my RS(4) 6 months early ... which is interesting as saved copy of the webpage when I applied for it said

> This is a limited issue account and you can only have one Regular Saver (4) at a time.  Yes this is absolutely true! - I and probably many others too wouldn't have opened an RS(4) if it had said instead ''you can only have one Regular Saver at a time."

colsten said:

schiff said:

Do they give you an option which one to leave open?

The letter specifies exactly which ones to close and which ones to keep. Strangely, they still allow me to keep more than one.....

what7 said:

What's with the 23 may 2020 cut off date? Is that when you opened your 2nd account?

I have absolutely no idea. I never opened any account with them on 23 May 2020. 

I should add that I think their advised actions are more than fair. Their T&Cs are pretty clear and they could have been a lot harsher.  I agree with your sentence in bold just above this one and I also agree that they could have been a lot harsher. However I must respectfully disagree that their T's & C's are, or at least were, pretty clear; this especially wasn't the case for Regular Saver Issue 4 as highlighted in the quotation section above! 

 

Ed-1 said:

colsten said:

schiff said:

Do they give you an option which one to leave open?

The letter specifies exactly which ones to close and which ones to keep. Strangely, they still allow me to keep more than one.....

what7 said:

What's with the 23 may 2020 cut off date? Is that when you opened your 2nd account?

I have absolutely no idea. I never opened any account with them on 23 May 2020. 

I should add that I think their advised actions are more than fair. Their T&Cs are pretty clear and they could have been a lot harsher.

I think the rationale behind this cut-off is that accounts opened before then would be maturing anyway after the 2 month notice period.

I think you're spot on there!

Free1234

what7 said:

I opened issue1 on Sep 2019

Issue 2 1.85% was available around 16 May 2020, this thread page 83

Issue 3 1.55% was available 10 September 2020, this thread page 140

Issue 4 1.3% was available 27 November 2020, this thread page 207

Issue 5 1.05% is availble now

Maybe I won't get a letter since I didn't open issue 5. :P

Even on my issue 4, I didn't put much money in as at the time I had Skipton easy access 1.2%, obviously this is now 0.65%. 

I refuse to believe Coventry BS didn't know all these people opening extra issue. I think we should be thankful they are giving us 2 month's notice, and potentially allow us to have 2 accounts (if issue 2 was opened before 23 may 2020)

Free1234

Infact looking at Coventry closed account rate, issue 2 was available way before May 2020, it look like it was first available Jan 2020.

Regular Saver (2) 1.85% AER*

(Variable) 07.01.2020

to

07.09.2020 £1 - £6,000 

Regular Saver (3) 1.55% AER*

(Variable) 08.09.2020

to

26.11.2020 £1 - £6,000 

Regular Saver (4) 1.30% AER*

(Variable) 27.11.2020

to

09.02.2021

what7

Yes you are correct, it's just I opened mine coincidencely in May 2020.

So it would appear the 23 May was very likely to do with the 2 months notice from 23 March.

The letter was sent 16th March, so they are giving the letter a week to arrive at people doorstep.

It could have been worse. They could have only allow us Issue 2, closed all other, pay us their lowest account interest rate because we broke t&c. 

By closing people issue 4 and beyond isn't going to save them that much interest 1.3% (4months) and 1.05% (1 month) 

creditavenger

So .......Has anyone else received the letter?

castle96

nope - have 3