Bank rate Coventry BS

SJMALBA

Fatherjacob said:

SJMALBA said:

Nath4n said:

You'd expect them to at least slightly uplift the limited (6 withdrawal) access account now paying 3.25% (closed to new applicants). I imagine most people using this account are relatively fickle with seeking out the highest rates, and it's likely this rate will soon be surpassed by other providers in the coming days and you'd assume they'd want to avoid mass withdrawals... fingers crossed!

Last time, with a 0.5% Base Rate rise, it went up 0.4%, so I hoped for similar this time, but not so hopeful now, having seen their statement...
As others, delighted to be wrong.

what part of thier statement puts you off , i opened an account with them on the 8th december , and only piled money into the account on the 7th jan once i found out there was a rate rise. 
fickle saver here , but will only move if the competion is close to 3.75%

IIRC, previous statements seemed more definite about forthcoming increases; however, this one doesn't actually rule them out, so, still have my fingers crossed.

TBF, it's still more encouraging than YBS's statement...

FWIW, I had the previous Four Access Saver, which proved good/competitive over time, and the 6 Access has been good too; just hoping even better to come, off the back of another significant Base Rate rise?

LeafGreen

For the November base rate increase (which was +0.75% announced on Thurs 3/11/2022) I got an email on Tues 8th saying the rate on my easy access cash ISA was increasing by 0.60% effective 1/12.  Can't seem to find the e-mails from the subsequent change in December but I think the timescales were similar.

I think they always send out an e-mail on the day to try and reduce the number of people phoning up when the base rate changes to ask of their savings rate will increase.  I wouldn't take it as a sign one way or the other with regards to savings rate changes.

strawb_shortcake

I've had the same worded email previously and later updated with the increase emails. I just see it as a holding response 

MikeJXE

Nath4n said:

You'd expect them to at least slightly uplift the limited (6 withdrawal) access account now paying 3.25% (closed to new applicants). I imagine most people using this account are relatively fickle with seeking out the highest rates, and it's likely this rate will soon be surpassed by other providers in the coming days and you'd assume they'd want to avoid mass withdrawals... fingers crossed!

Thats the one I grabbed on release 

If they don't up it I will be looking around 

db3745

I'd like to see something on the fixed multi-year interest front. Their Fixed Bond (300) @ 4.1% maturing 30/4/2024 has me puzzled, as in how did they arrive at the date? It's a 15-month account now; don't know when they launched it, but for tax purposes if I opted for annual interest it would all drop into 2024/2025 tax year. That's no use so I'd have to go for monthly - or am I wrong?

mebu60

Charter have sent out a similar email. I see these as holding responses whilst they wait and see what others do or don't do. Don't have an issue with institutions announcing a rise to take effect in a week or two's time, helps to know what is coming. Several times recently I have shifted funds only for the emptied account (aka £1) to increase. 
At least we know Skipton BR Tracker will be 3.1% in two weeks. 

Johnjdc

db3745 said:

I'd like to see something on the fixed multi-year interest front. Their Fixed Bond (300) @ 4.1% maturing 30/4/2024 has me puzzled, as in how did they arrive at the date? It's a 15-month account now; don't know when they launched it, but for tax purposes if I opted for annual interest it would all drop into 2024/2025 tax year. That's no use so I'd have to go for monthly - or am I wrong?

The benchmark 2-year fixed rate (UK gilt) fell by more than 0.2% following the Bank of England announcement, and is now down 1.4% since the autumn peak. So you might be waiting a long time for fixed rates to get better than they were late last year.

[Deleted User]

Not expecting much if any increase.

The markets are already pricing in 2 rate cuts from the FED this year and the BoE will surely follow or front run that move.

diystarter7

Hi
We've been with the CBS for 25 years on and off and on for the last 7 years at least - we get a little bonus as we have an old account ie no longer available - CBS always emails on the day then alerts you to the increase and from memory, I think the increase s about a month down the road.


Thnaks

ANGLICANPAT

Unless Im missing a shortcut , my beef with Coventry is   when they wont always allow you to just move across within the system from one particular acc to another ,  eg I found my Cov easy access  was paying less than the  limited access saver online 7 ( which is paying  2.85%)  and Ive had to transfer the easy access to my nom bank HSBC  yesterday , and then send it back out to new Cove online 7 one today , but HSBC can only transfer  £25k a day, so it will take 2 days to complete it . Must be simple for them to just move between accounts internally , so I dont know why they wont with some of them.