Coventry BS New 3.25% Instant Access Savings - was it meant to come out today? 6 January at 5:40PM in Savings & investments 19 replies 3.3K views

Tunstallstoven

Hi all

I might have read it wrong, and apologies in advance if that's the case.  But when checking the MSE article for best instant access savings accounts yesterday, I thought I saw Coventry at 2.75% or thereabouts, but with a note below saying it was rising on 06/01 (today) to 3.25%.  It's not listed today on MSE.  And there's no sign of it on the Coventry BS website. 

Can anyone confirm if I misread it, and if not what's happened to it? 

Many thanks  

MikeJXE

It comes out today and it is shown on my account 

flaneurs_lobster

The rate increased and it was closed to new applicants pretty much simultaneously this morning.

happybagger

Not a new account, a limited access account which had been available for quite a while, no longer available to new customers from last night.. Sorry, you missed the boat!

SaveTheEuro

Coventry Building Society pulled the product just as they increased the rate. It's no longer available but existing customers will benefit from the rise. 

Tunstallstoven

Aha - that makes sense then.  Many thanks for the explanations.  

Hopefully others will follow their lead )

Bigwheels1111

Got my letters today and funded the accounts.

Speculator

was still available at around 2am this morning.

Speedbird676

Luckily I opened mine a couple of days ago in readiness.

db3745

It's been known since 15th December that today the rate would rise to 3.25%, so we've all had 3 weeks to take advantage. I did really think that they'd have opened my account by now, even though I remember their mysterious ways of working.

Bigwheels1111 said:

Got my letters today and funded the accounts.

I'm assuming like me they made you fill in a paper app. and post it back to them. If so, wonder when you returned it, as my letters should have been back by now.

Seems crazy that though I'm registered for online services, closed my last account in 2021, yet was able to log in OK and apply online, they insisted on sending me a paper app. asking for same info. while saying on that form that I didn't need an ID check. Today, 9 days after posting, and knowing I was now losing money I successfully logged on, but was hit with just a pop-up, telling me maybe my account wasn't set up yet, and offering no alternative other than to click "log-off", so I couldn't send a secure message. Live chatting, but obviously not talking personal details I was told the system should not have allowed me to log on in the first place without having a live open account. Unfortunately I know from experience that there's quite a few things at Coventry  that the system shouldn't allow, but does.

Band7

db3745 said:

It's been known since 15th December that today the rate would rise to 3.25%, so we've all had 3 weeks to take advantage. I did really think that they'd have opened my account by now, even though I remember their mysterious ways of working.

Bigwheels1111 said:

Got my letters today and funded the accounts.

I'm assuming like me they made you fill in a paper app. and post it back to them. If so, wonder when you returned it, as my letters should have been back by now.

Seems crazy that though I'm registered for online services, closed my last account in 2021, yet was able to log in OK and apply online, they insisted on sending me a paper app. asking for same info. while saying on that form that I didn't need an ID check. Today, 9 days after posting, and knowing I was now losing money I successfully logged on, but was hit with just a pop-up, telling me maybe my account wasn't set up yet, and offering no alternative other than to click "log-off", so I couldn't send a secure message. Live chatting, but obviously not talking personal details I was told the system should not have allowed me to log on in the first place without having a live open account. Unfortunately I know from experience that there's quite a few things at Coventry  that the system shouldn't allow, but does.

sounds nearly a nightmarish experience and all you can do for now is wait until you get access. As and when you do, open their instant access account and put £1 in it. Keep that account forever, to preserve you customer status.