Regular Savings Accounts: The Best Currently Available List!

ForumUser7

gele said:

Hi
I have version 1 too. Can I just check with you if its unlimited withdrawals and without notice,
I seem to remember reading that version 2 does require notice to withdraw and its now making me wonder.
Thanks 

Version 1

This is an easy access account. You can take money out whenever you wish.

How to withdraw

• AskforatransfertoanotherCoventryBuildingSocietyaccountortoyourNamedBank Account, online or by phone

• Ifyoutakemoneyout,youcanstillonlypayinupto£1,000percalendarmonth.

For example, if you take out £100, you can only pay in your £1,000 monthly allowance. You can’t replace the £100 as well.

ChewyyBacca

Kazza242 said:

ChewyyBacca said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching First Home Saver (issue 2), paying 4.00%.

You can pay in between £1 - £1,000 per month.  The account runs for 36 months.  

Moneyfacts indicates that unlimited withdrawals are permitted, though withdrawals are subject to 60 day notice or loss of interest is incurred. 

The minimum opening deposit is £1.  The maximum investment is £37,000.  

The account can be opened and managed online, via the branch, post or telephone. 

Please see here: 

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Kazza242 Does the bank demand proof of FTB & purchase of property for this account? or Can anyone open this account?
i have read through 60 d notice for withdrawal on T&C of the account

There are multiple accounts like this
Coventry BS First Home Saver (issue 2),
Principlaity BS First Home Steps Online (Issue 2)

Are there any specific restrictions here or one can invest without any intention of using the proceeds towards house purchase?

Thanks

@ChewyyBacca

Regarding opening the First Home Saver (issue 2):

Coventry Building Society does not request proof of FTB status and they don't require you to prove that you'll be using the funds to purchase a property for yourself or anyone else in order to open the account.

The terms and conditions for the First Home Saver (issue 2) does state:

"1.3 You must be at least 16 to hold this account. It must be opened for your own use or for savings that will be used to help a family member to purchase their first home. This account cannot be used by trustees holding funds on trust for a beneficiary."

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

However, they do not request proof of this to open the account.  

I have issue 1 of this account, paying 5.00%.  I was able to open it online without being asked to provide any proof of FTB status.  

Thanks Kazza242
Perhaps they learnt from Issue 1 & introduced 60d Notice for withdrawal on Issue 2. Anyone buying a house will most likely know2-3 months in advance when they will need access to funds.

A follow up question: 
Who can open this account? I do not hold any accounts with Coventry BS. Can I open this account?

This regular savings account has been designed specifically for members or their families looking to support them, to save for their first home.

So members is defined s existing members who are now eligible to open this account OR

one becomes a member after opening this account, their first banking relationship with Coventry BS?

Chicken or egg situation?

ForumUser7

ChewyyBacca said:

Kazza242 said:

ChewyyBacca said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching First Home Saver (issue 2), paying 4.00%.

You can pay in between £1 - £1,000 per month.  The account runs for 36 months.  

Moneyfacts indicates that unlimited withdrawals are permitted, though withdrawals are subject to 60 day notice or loss of interest is incurred. 

The minimum opening deposit is £1.  The maximum investment is £37,000.  

The account can be opened and managed online, via the branch, post or telephone. 

Please see here: 

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Kazza242 Does the bank demand proof of FTB & purchase of property for this account? or Can anyone open this account?
i have read through 60 d notice for withdrawal on T&C of the account

There are multiple accounts like this
Coventry BS First Home Saver (issue 2),
Principlaity BS First Home Steps Online (Issue 2)

Are there any specific restrictions here or one can invest without any intention of using the proceeds towards house purchase?

Thanks

@ChewyyBacca

Regarding opening the First Home Saver (issue 2):

Coventry Building Society does not request proof of FTB status and they don't require you to prove that you'll be using the funds to purchase a property for yourself or anyone else in order to open the account.

The terms and conditions for the First Home Saver (issue 2) does state:

"1.3 You must be at least 16 to hold this account. It must be opened for your own use or for savings that will be used to help a family member to purchase their first home. This account cannot be used by trustees holding funds on trust for a beneficiary."

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

However, they do not request proof of this to open the account.  

I have issue 1 of this account, paying 5.00%.  I was able to open it online without being asked to provide any proof of FTB status.  

Thanks Kazza242
Perhaps they learnt from Issue 1 & introduced 60d Notice for withdrawal on Issue 2. Anyone buying a house will most likely know2-3 months in advance when they will need access to funds.

A follow up question: 
Who can open this account? I do not hold any accounts with Coventry BS. Can I open this account?

This regular savings account has been designed specifically for members or their families looking to support them, to save for their first home.

So members is defined s existing members who are now eligible to open this account OR

one becomes a member after opening this account, their first banking relationship with Coventry BS?

Chicken or egg situation?

You can open the account as a new member

allegro120

ChewyyBacca said:

Kazza242 said:

ChewyyBacca said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching First Home Saver (issue 2), paying 4.00%.

You can pay in between £1 - £1,000 per month.  The account runs for 36 months.  

Moneyfacts indicates that unlimited withdrawals are permitted, though withdrawals are subject to 60 day notice or loss of interest is incurred. 

The minimum opening deposit is £1.  The maximum investment is £37,000.  

The account can be opened and managed online, via the branch, post or telephone. 

Please see here: 

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Kazza242 Does the bank demand proof of FTB & purchase of property for this account? or Can anyone open this account?
i have read through 60 d notice for withdrawal on T&C of the account

There are multiple accounts like this
Coventry BS First Home Saver (issue 2),
Principlaity BS First Home Steps Online (Issue 2)

Are there any specific restrictions here or one can invest without any intention of using the proceeds towards house purchase?

Thanks

@ChewyyBacca

Regarding opening the First Home Saver (issue 2):

Coventry Building Society does not request proof of FTB status and they don't require you to prove that you'll be using the funds to purchase a property for yourself or anyone else in order to open the account.

The terms and conditions for the First Home Saver (issue 2) does state:

"1.3 You must be at least 16 to hold this account. It must be opened for your own use or for savings that will be used to help a family member to purchase their first home. This account cannot be used by trustees holding funds on trust for a beneficiary."

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

However, they do not request proof of this to open the account.  

I have issue 1 of this account, paying 5.00%.  I was able to open it online without being asked to provide any proof of FTB status.  

Thanks Kazza242
Perhaps they learnt from Issue 1 & introduced 60d Notice for withdrawal on Issue 2. Anyone buying a house will most likely know2-3 months in advance when they will need access to funds.

A follow up question: 
Who can open this account? I do not hold any accounts with Coventry BS. Can I open this account?

This regular savings account has been designed specifically for members or their families looking to support them, to save for their first home.

So members is defined s existing members who are now eligible to open this account OR

one becomes a member after opening this account, their first banking relationship with Coventry BS?

Chicken or egg situation?

As with any Building Society,  "When you open your first savings account or mortgage with us you automatically become a member of Coventry Building Society."  https://www.coventrybuildingsociety.co.uk/member/help/member-support/member-rights.html#:~:text=When you open your first,Annual General Meeting (AGM).

ForumUser7

allegro120 said:

ChewyyBacca said:

Kazza242 said:

ChewyyBacca said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching First Home Saver (issue 2), paying 4.00%.

You can pay in between £1 - £1,000 per month.  The account runs for 36 months.  

Moneyfacts indicates that unlimited withdrawals are permitted, though withdrawals are subject to 60 day notice or loss of interest is incurred. 

The minimum opening deposit is £1.  The maximum investment is £37,000.  

The account can be opened and managed online, via the branch, post or telephone. 

Please see here: 

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Kazza242 Does the bank demand proof of FTB & purchase of property for this account? or Can anyone open this account?
i have read through 60 d notice for withdrawal on T&C of the account

There are multiple accounts like this
Coventry BS First Home Saver (issue 2),
Principlaity BS First Home Steps Online (Issue 2)

Are there any specific restrictions here or one can invest without any intention of using the proceeds towards house purchase?

Thanks

@ChewyyBacca

Regarding opening the First Home Saver (issue 2):

Coventry Building Society does not request proof of FTB status and they don't require you to prove that you'll be using the funds to purchase a property for yourself or anyone else in order to open the account.

The terms and conditions for the First Home Saver (issue 2) does state:

"1.3 You must be at least 16 to hold this account. It must be opened for your own use or for savings that will be used to help a family member to purchase their first home. This account cannot be used by trustees holding funds on trust for a beneficiary."

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

However, they do not request proof of this to open the account.  

I have issue 1 of this account, paying 5.00%.  I was able to open it online without being asked to provide any proof of FTB status.  

Thanks Kazza242
Perhaps they learnt from Issue 1 & introduced 60d Notice for withdrawal on Issue 2. Anyone buying a house will most likely know2-3 months in advance when they will need access to funds.

A follow up question: 
Who can open this account? I do not hold any accounts with Coventry BS. Can I open this account?

This regular savings account has been designed specifically for members or their families looking to support them, to save for their first home.

So members is defined s existing members who are now eligible to open this account OR

one becomes a member after opening this account, their first banking relationship with Coventry BS?

Chicken or egg situation?

As with any Building Society,  "When you open your first savings account or mortgage with us you automatically become a member of Coventry Building Society."  https://www.coventrybuildingsociety.co.uk/member/help/member-support/member-rights.html#:~:text=When you open your first,Annual General Meeting (AGM).

Has anyone got their Coventry AGM email yet please? I've had a few from other places, but not Coventry yet, and I will fit the criteria around the likely AGM date

OceanSound

ForumUser7 said:

allegro120 said:

ChewyyBacca said:

Kazza242 said:

ChewyyBacca said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching First Home Saver (issue 2), paying 4.00%.

You can pay in between £1 - £1,000 per month.  The account runs for 36 months.  

Moneyfacts indicates that unlimited withdrawals are permitted, though withdrawals are subject to 60 day notice or loss of interest is incurred. 

The minimum opening deposit is £1.  The maximum investment is £37,000.  

The account can be opened and managed online, via the branch, post or telephone. 

Please see here: 

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Kazza242 Does the bank demand proof of FTB & purchase of property for this account? or Can anyone open this account?
i have read through 60 d notice for withdrawal on T&C of the account

There are multiple accounts like this
Coventry BS First Home Saver (issue 2),
Principlaity BS First Home Steps Online (Issue 2)

Are there any specific restrictions here or one can invest without any intention of using the proceeds towards house purchase?

Thanks

@ChewyyBacca

Regarding opening the First Home Saver (issue 2):

Coventry Building Society does not request proof of FTB status and they don't require you to prove that you'll be using the funds to purchase a property for yourself or anyone else in order to open the account.

The terms and conditions for the First Home Saver (issue 2) does state:

"1.3 You must be at least 16 to hold this account. It must be opened for your own use or for savings that will be used to help a family member to purchase their first home. This account cannot be used by trustees holding funds on trust for a beneficiary."

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

However, they do not request proof of this to open the account.  

I have issue 1 of this account, paying 5.00%.  I was able to open it online without being asked to provide any proof of FTB status.  

Thanks Kazza242
Perhaps they learnt from Issue 1 & introduced 60d Notice for withdrawal on Issue 2. Anyone buying a house will most likely know2-3 months in advance when they will need access to funds.

A follow up question: 
Who can open this account? I do not hold any accounts with Coventry BS. Can I open this account?

This regular savings account has been designed specifically for members or their families looking to support them, to save for their first home.

So members is defined s existing members who are now eligible to open this account OR

one becomes a member after opening this account, their first banking relationship with Coventry BS?

Chicken or egg situation?

As with any Building Society,  "When you open your first savings account or mortgage with us you automatically become a member of Coventry Building Society."  https://www.coventrybuildingsociety.co.uk/member/help/member-support/member-rights.html#:~:text=When you open your first,Annual General Meeting (AGM).

Has anyone got their Coventry AGM email yet please? I've had a few from other places, but not Coventry yet, and I will fit the criteria around the likely AGM date

Not yet. Last year I received the AGM email on 25 April. The year before that, received it  on 19 April.

OceanSound

ChewyyBacca said:

Kazza242 said:

ChewyyBacca said:

Kazza242 said:

According to Moneyfacts, Coventry Building Society are launching First Home Saver (issue 2), paying 4.00%.

You can pay in between £1 - £1,000 per month.  The account runs for 36 months.  

Moneyfacts indicates that unlimited withdrawals are permitted, though withdrawals are subject to 60 day notice or loss of interest is incurred. 

The minimum opening deposit is £1.  The maximum investment is £37,000.  

The account can be opened and managed online, via the branch, post or telephone. 

Please see here: 

https://www.coventrybuildingsociety.co.uk/member/product/savings/regular_saver/first-home-saver-2.html

Kazza242 Does the bank demand proof of FTB & purchase of property for this account? or Can anyone open this account?
i have read through 60 d notice for withdrawal on T&C of the account

There are multiple accounts like this
Coventry BS First Home Saver (issue 2),
Principlaity BS First Home Steps Online (Issue 2)

Are there any specific restrictions here or one can invest without any intention of using the proceeds towards house purchase?

Thanks

@ChewyyBacca

Regarding opening the First Home Saver (issue 2):

Coventry Building Society does not request proof of FTB status and they don't require you to prove that you'll be using the funds to purchase a property for yourself or anyone else in order to open the account.

The terms and conditions for the First Home Saver (issue 2) does state:

"1.3 You must be at least 16 to hold this account. It must be opened for your own use or for savings that will be used to help a family member to purchase their first home. This account cannot be used by trustees holding funds on trust for a beneficiary."

https://secure.coventrybuildingsociety.co.uk/savings-and-investments/application/SpecificTermsAndConds.aspx?prodCode=FH2

However, they do not request proof of this to open the account.  

I have issue 1 of this account, paying 5.00%.  I was able to open it online without being asked to provide any proof of FTB status.  

Thanks Kazza242
Perhaps they learnt from Issue 1 & introduced 60d Notice for withdrawal on Issue 2. Anyone buying a house will most likely know2-3 months in advance when they will need access to funds.

A follow up question: 
Who can open this account? I do not hold any accounts with Coventry BS. Can I open this account?

This regular savings account has been designed specifically for members or their families looking to support them, to save for their first home.

So members is defined s existing members who are now eligible to open this account OR

one becomes a member after opening this account, their first banking relationship with Coventry BS?

Chicken or egg situation?

LOL. Membership strictly reserved for existing members only. 

Thank you for your custom.

LMAO 😂

tg99

Can someone remind me re TSB monthly saver, is it ok to transfer in first £250 from external account and then set up SO from external account for following 11 monthly payments? Or do I need to set up and pay first £250 from TSB current account via a SO then I can cancel this and change to my external account for following 11 monthly SO? Thks 

aaj123

tg99 said:

Can someone remind me re TSB monthly saver, is it ok to transfer in first £250 from external account and then set up SO from external account for following 11 monthly payments? Or do I need to set up and pay first £250 from TSB current account via a SO then I can cancel this and change to my external account for following 11 monthly SO? Thks 

Mine is funded from external accounts - both first payment and subsequent SOs.

Rich2808

tg99 said:

Can someone remind me re TSB monthly saver, is it ok to transfer in first £250 from external account and then set up SO from external account for following 11 monthly payments? Or do I need to set up and pay first £250 from TSB current account via a SO then I can cancel this and change to my external account for following 11 monthly SO? Thks 

The terms and conditions are clear on this - whether the provider enforces them is not always consistent.

https://www.tsb.co.uk/savings/monthly-saver/