Bank rate Coventry BS

MikeJXE

Don't you think Coventry will increase the rates now NSI is offering something decent ? 

happybagger

It's simply an email to say "don't email us about this". Heading off the many customers messaging "what are you doing about rates?"

One thing I think most here will agree on - they're unlikely to increase their First Home Saver rate!

db3745

Johnjdc said:

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.

I appreciate that. I took out 2 year ISAs for us both in early November at good rates, but as it took me so long with Coventry to get signed up for the now 3.25% limited access in Dec/Jan I thought if they did happen to throw in say a 2 year at 4.25% I'd put something in that instead of having to sign up with someone new.

I just don't really see the point of the Fixed Bond I mentioned in OP but don't know when it was first offered.

RobinhoodSavings

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?

There will be a payment at the end of 30 April 2023 as well, which will be the 2023/2024 tax year. 

db3745

RobinhoodSavings said:

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?

There will be a payment at the end of 30 April 2023 as well, which will be the 2023/2024 tax year. 

Yes, I should have clarified - like most people, with tax considerations I haven't had to think tax while rates were very low, and rises happened too late to worry me for this tax year, but 2023/2024 is a different matter.

4justice2

ANGLICANPAT said:

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. 

Hi, that's strange I've got the option to make an immediate internal transfer between Coventry accounts. In fact I've just moved money from Easy Access to Limited Access!
I go into "payments" which shows my nominated external account at the top, then scroll down and it lists my other Coventry accounts underneath.

SJMALBA

4justice2 said:

ANGLICANPAT said:

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. 

Hi, that's strange I've got the option to make an immediate internal transfer between Coventry accounts. In fact I've just moved money from Easy Access to Limited Access!
I go into "payments" which shows my nominated external account at the top, then scroll down and it lists my other Coventry accounts underneath.

Yes, I've moved money 'internally' between CBS accounts, without difficulty, too.

SJMALBA

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Bobblehat

That tumbleweed is still rolling on many Coventry savings accounts, even after today's announcements 

Middle_of_the_Road

Bobblehat said:

That tumbleweed is still rolling on many Coventry savings accounts, even after today's announcements 

  too true