The New Top Easy Access Savings Discussion Area

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.

fabsaver

With the Ulster rate dropping to 4.25% in a few days I am looking for an alternative easy access account.

I am considering the Tembo HomeSaver at 4.55% (including the bonus for the first year). However I see from their product summary box that withdrawals typically take two working days to process. That seems a big downside, especially if there is a loss of interest for those days.

Does anyone have any experience of the account and can confirm if this is how long withdrawals actually take?

moi

https://forums.moneysavingexpert.com/discussion/comment/81906153#Comment_81906153

I never got as far as withdrawing from Tembo, but something annoying I did experience…

I was going to withdraw, & I got the message below. Odd, it's a Homesaver Account with a maximum balance of £25K, not an ISA with an allowance. I don't even have an ISA with them.

I went to chat, only to find it's an AI bot, who confidently told me 'you're actually withdrawing from an ISA not a HomeSaver.' I repeated it, I don't have an ISA, and the AI bot acknowledges I was "absolutely right," quoting the facts I originally gave it back to me. 🙄

Tells me I need to type "talk to a person," so I did… it asked for more details, I told them to just read the chat, and left. 24 hours later, I see there's no reply from a person, but a message from the bot asking "what should we call you?" 🙄🙄 I'm signed into an app FGS, you know my name.

simonpies234

Coventry have a triple access 4.25%(Mentioned already). They bought out new issues before the last BoE cut. Then oversized the cut to all old issues and only cut the new issue by .15%. That seems to be their model,

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

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/81906935#Comment_81906935

Coventry 3 access saver

How do you get to 6 charge free withdrawals?

simonpies234

https://forums.moneysavingexpert.com/discussion/comment/81906963#Comment_81906963

You don't, this a triple access, which is 3 withdrawals. They do 4 and sometimes 6 accounts, but they are currently NLA, I thnk.

moi

https://forums.moneysavingexpert.com/discussion/comment/81906793#Comment_81906793

An update from a Tembo human about the misleading message when withdrawing from the HomeSaver. They copied and pasted rules & entirely miss my point that an ISA warning is wrongly being displayed for a different non-ISA account. It's a bit disconcerting the staff can't recognise that's an issue (IMO anyway). 🫤