Coventry First Home Saver (1st Edition)

BarGin

I want to start making withdrawals from my account. The terms are:

6. Withdrawals/closure

6.1 You can make withdrawals or close this account without notice, charge or loss of interest.

6.2 Withdrawals or closure can be made by:

(a) internal transfer to an account with us; or

(b) one-off electronic payment to your Named Bank Account.

As it is supposed to be an easy access account, I would like to make monthly withdrawals to a current account. My questions are: 

How easy is it to change my named bank account?

What do they mean by one-off electronic payment?

Would I have to transfer the payment to another Coventry account each month and then move it to my current account held elsewhere?

soulsaver

BarGin said:

I want to start making withdrawals from my account. The terms are:

How easy is it to change my named bank account? 

Easy IIRC. Why don't you just try the process and see?

What do they mean by one-off electronic payment? 

Assume 'one off' means you can't set up automatic recurring payments like standing orders or several future dated payments.

Would I have to transfer the payment to another Coventry account each month and then move it to my current account held elsewhere? 

No, but you could if you wanted to.

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BarGin

That's helpful. Thank you.