Coventry BS New 3.25% Instant Access Savings - was it meant to come out today?

db3745

Yes, I'm learning the hard way not to close accounts. I did say after the last episode never again, but the extra interest over Santander swayed me. Also I'd stopped thinking about tax implications in recent years, but really slipped up in choosing annual interest with Santander, so pushing all interest into next tax year, with very little in this. I'd advise anyone to think now about when you want your interest to be paid, to minimise tax obligations. I've gone monthly with Coventry.

Bigwheels1111

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.

I applied and got to what I thought was the end and around 8 pages to print out and return.
With ID, I called only to find out that they had not run the ID check.
It was run and I passed, They told me to sign and scan the top 2 pages.
I then emailed it and got nothing, called again and emailed again and still nothing.
Gave up.
Came home after 5 day break and found acceptance letter and code for online access.
Very poor communication and knowledge on customer service.

Band7

ashby6567 said:

Band7 said:

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.

It doesn't sound as if you've practiced what you're  preaching since you're unaware of older Limited Access accounts and their rates.

eh? What has an instant access account got to do with limited access accounts?

Band7

ashby6567 said:

Band7 said:

ashby6567 said:

Band7 said:

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.

It doesn't sound as if you've practiced what you're  preaching since you're unaware of older Limited Access accounts and their rates.

eh? What has an instant access account got to do with limited access accounts?

Account type isn't relevant, the principles are the same.

The issue was about being considered a customer when applying for a new account. Setting up a dormant or semi-dormant instant access account, or indeed any account that doesn't expire/mature, now will make sure you are considered an existing customer in future. It's absolutely nothing to do with preaching, or with my awareness or otherwise of older Coventry limited access accounts that nobody can apply for any longer now, in any case.

lindos90

Wow, they closed it to new applications? Phew, thank goodness I opened one last week then! ( And encouraged my eldest to do the same) we both got in by a whisker by the sounds of it. I guess with the interest rate rise being public knowledge they have had a fair few applications in the last couple of weeks!

captnoglos

Bigwheels1111 said:

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.

I applied and got to what I thought was the end and around 8 pages to print out and return.
With ID, I called only to find out that they had not run the ID check.
It was run and I passed, They told me to sign and scan the top 2 pages.
I then emailed it and got nothing, called again and emailed again and still nothing.
Gave up.
Came home after 5 day break and found acceptance letter and code for online access.
Very poor communication and knowledge on customer service.

Banks and other institutions have for many years used Profiles for Account Holders.  Within your profile are your accounts.  So it is quite possible for you to log in, without an active account.  

[Deleted User]

Hi,

I opened mine on Wednesday to avoid any rush on Friday, all done on line and sent a test £100 which arrived ok.

Logged in on Friday and new interest rate had been applied, now have it fully funded, all done on line, no problems.

db3745

captnoglos said:

Bigwheels1111 said:

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.

I applied and got to what I thought was the end and around 8 pages to print out and return.
With ID, I called only to find out that they had not run the ID check.
It was run and I passed, They told me to sign and scan the top 2 pages.
I then emailed it and got nothing, called again and emailed again and still nothing.
Gave up.
Came home after 5 day break and found acceptance letter and code for online access.
Very poor communication and knowledge on customer service.

Banks and other institutions have for many years used Profiles for Account Holders.  Within your profile are your accounts.  So it is quite possible for you to log in, without an active account.  

BigWheels1111,

"Came home after 5 day break and found acceptance letter and code for online access."

Pleased you got it sorted at last. I'm afraid I'm still waiting for my letter!

Captnoglos,

Their only excuse for not accepting my online application while logged in was that they had to carry out an ID check. They were sending their letter to the same address that has been on my profile for over 30 years, so what could they be checking?

Tunstallstoven

Thanks for all the replies and info.  It was my mistake.  I somehow got it into my head that I had to wait until the Friday the new rate started before I could apply (in order to get that interest rate).  Never mind, I'm sure there will be other similar savings accounts soon...

Cheers