The New Top Easy Access Savings Discussion Area

soulsaver

@dosh37

Was working earlier, although ac didn't appear immediately as it usually does - mine is open, funded and listed. And is, as I post this… MS Edge

elkiedee

I noticed that the website was a bit glitchy but have just opened the account for two reasons. One is that the rate is slightly above the other Coventry saver accounts I have at the moment, and I can move things in a few minutes - checking I still have some withdrawals. If all are cut again, once or more, by another .25% I will still get a few extra pence in the 3 x saver than in the previous accounts. I'm not moving the ISA money, most of my savings, but did so in the autumn from an account paying slightly less than the one it's in now.

Also, the money I've moved is from one year saver accounts opened in September/October, so although the difference is only 0.1%, and it's quite likely that all the rates will get cut slightly, and it may be that in the autumn, the rates available on a new account are lower than on any of the ones I have open at the moment (even after across the board cuts if base rate falls), and that I can get a few pence more for an extra 4/5 months.

intalex

The Coventry 3-access, what happens after 1 year? Does the account close, convert, "mature"? Can't see a bonus portion on the rate that would be taken away, so just wondering what happens.

Edit: Got the answer on the FAQs:

What happens at the end of 12 months?

At the end of 12 months, on the anniversary of account opening, your account will transfer to an Easy Access Saver (Maturity) – an account which allows unlimited withdrawals without charge. Easy Access Saver (Maturity) will pay a lower rate than 3 Access Saver - 1 Year.

The interest rate on our Easy Access Saver (Maturity) is variable – this means we can change it and it can go up or down. We’ll write to you closer to the time to confirm your new rate. If you would like to see what rate Easy Access Saver (Maturity) pays now, you can:

Call us on 0800 121 8899
Ask us in any branch.

You’ll be able to keep saving and your account number won’t change. You’ll also have the option to take some or all of your money out or close your new account. We’ll send you a reminder and full details of the options available to you at least 14 days before the account transfers. If you take no action your account will become an Easy Access Saver (Maturity).

SnowMan

https://forums.moneysavingexpert.com/discussion/comment/81903113#Comment_81903113

https://www.coventrybuildingsociety.co.uk/member/product/savings/limited_access/3-access-saver-1-year.html

It turns into an easy access saver (maturity) account paying a lower rate after 1 year. The maturity date (labelled as 'your account will have matured by') is shown in the account details section of the account when you are logged in

BreakingGlass

Coventry 3-Access account

I opened Coventry 3-Access yesterday for both myself and my wife with no problems. We were already Coventry BS customers, and funded the new accounts with funds from our old Coventry 4-Access (an easy instant transfer online), hence moved from 4.15% to 4.25%. We left £1 each in the old account to keep it open as we don't want the interest until the next tax year.

nomorekids

https://forums.moneysavingexpert.com/discussion/comment/81902949#Comment_81902949

its working for me online and in the app, I can't help with your issue other than to say, it must be your account or login which is the issue.

dosh37

https://forums.moneysavingexpert.com/discussion/comment/81903257#Comment_81903257

It's working today.

My guess is that there is a timing issue such that access to the login service or the underlying database is blocked while a new account is opened. I don't have a problem with that. What does annoy me is that the system doesn't warn the user or provide a more useful message. Instead you just get a generic 'Page not available' error. That kind of error can happen for all sorts of reasons.

elkiedee

If you had problems earlier, worth trying again. Perhaps when you've read about the new account and read the linked documents, and if you've looked up existing accounts that you want to move money from, close down any open Coventry tabs (these are things that I would think other existing Coventry savers would want to do) and open a new one to start your application. That worked for me when it was glitching.

At the end of a one year account, your money should go into an easy access account, probably paying a much lower rate. I haven't actually got to the end of a one year Coventry account yet, I don't think, because I've opened different one year accounts chasing rates and moved money.

I have had Nationwide accounts mature, and I've opened new similar accounts ready to just move money across to a new similar account. Plus one of them was an ISA - it matured at the weekend - I moved some of my money into a new one year Nationwide ISA, and then transferred the whole of the remainder from the maturity account to my Coventry ISA, paying a better rate and also paying monthly. I don't have very much new money to add to my savings each month, so I find monthly interest more motivating.

So I would suggest that if you open one year limited withdrawal accounts, keep an eye out for new better offers from Coventry, know when your accounts are about to mature and have a plan for where you're going to move the money so you can do it on the same day, whether that's a new one year account with Coventry or something else.

Xenon

https://forums.moneysavingexpert.com/discussion/comment/81903243#Comment_81903243

I had that account before closing and moving to Kent Reliance last week - should have done the same as you and kept £1…oh well best laid plans have to re-register.

On the plus side i think the Coventry website is excellent - the best laid out concise easy to use banking site i have used.

Bridlington1

I thought I'd throw this into the open for anyone who happens to be interested, these are lists of top EA accounts that I occasionally compile when deciding whether to change the thresholds for the Top Regular Savers Discussion thread and what to set them as.

They're not as good as the ones compiled by @soulsaver or @ircE but are a slightly different take on them.

• Accounts in red are accounts that are restricted to new customers only so not everyone on here shall be eligible for them.
• Accounts in green have a low (£10 or less) minimum deposit and allow unlimited penalty free withdrawals.
• Accounts in blue have a low (£10 or less) minimum deposit but restrict the number of penalty free withdrawals you can make.
• Accounts in purple have a high (greater than £10) minimum deposit and allow unlimited penalty free withdrawals.
• Accounts in orange have a high (greater than £10) minimum deposit and restrict the number of penalty free withdrawals you can make.

The ``Top 10 Avg" is the average of the top 10 accounts, the ``Top 10 OA Avg" is the average of the top 10 accounts that aren't red.

These lists don't take how long withdrawals take or withdrawal cut off times into account simply because neither do the lists on p1 of the regular savers thread. Accounts with a low maximum balance (e.g. Santander Edge Saver) aren't included in these lists as for threshold purposes I assume everyone is rather well off so shall still have money leftover after filling them up.

Interest rates shown go off projected interest rates, i.e. rates after any announced upcoming interest rate changes come into effect.

Usual applies, if you wish to discuss regular savers, please use Top Regular Savers Discussion thread. These tables are provided here for the easy access account side of things only.