Coventry BS 5/6/8 Access Saver

flaneurs_lobster

SaveTheEuro said:

Does anyone know of a building society bettering this (apart from on small balances) now that Furness are reducing the rate on their Double Access Saver to 4.65% (and allowing only two, not five withdrawals)?

Not a BS and only if you have >£5k and can endure the pain of opening the account then Ulster Bank is paying 4.75% (and access really is easy & quick).

allegro120

janusdesign said:

I have three of the Triple Access accounts now converted to the 5 Access Saver (though only received 2 emails from CBS).
out of curiosity, were "Four Access (Online)" accounts, that were paying 4.50%, also converted to 5 Access now paying 4.75% ? I previously had two of them, but closed them last year.

No "Four Access" is still showing as "Four Access" paying the same 4.41% (4.50% AER).

janusd

flaneurs_lobster said:

SaveTheEuro said:

Does anyone know of a building society bettering this (apart from on small balances) now that Furness are reducing the rate on their Double Access Saver to 4.65% (and allowing only two, not five withdrawals)?

Not a BS and only if you have >£5k and can endure the pain of opening the account then Ulster Bank is paying 4.75% (and access really is easy & quick).

sadly, you need to open a current account now to get it, and the interest rate is dropping to 4.5% on the 20th Jan if I recall.

happybagger

SaveTheEuro said:

cricidmuslibale said:

mebu60 said:

allegro120 said:

I have two of them, but never had chance to use them, both have £1 balance since opening.  Might become useful at some point soon if they don't reduce the rate.

Was reduced to 4.75% from 4.95% on 03:12:24 so hopefully it'll stay at that level for a while longer. At least until 06:02:25! 

Having saved with Coventry BS for several years now, I'm somewhat familiar with how they tend to respond to Bank of England Base Rate changes. If the B of E does reduce the Base Rate from 4.75% to 4.50% on 6th February then it is highly likely that Coventry will reduce this particular interest rate, probably down to 4.50%. However the date of the reduction is usually around 3 to 4 weeks after the B of E makes its move so it will probably happen between c. 27th February and 6th March. When interest rates are rising, Coventry usually also reacts to any B of E Base Rate increase similarly, thus increasing the interest rates on its variable rate savings accounts c. 3 to 4 weeks afterwards.

Coventry BS very rarely, in my experience, changes the interest rates on its variable rate accounts for any other reason than in response to a recent Bank of England Base Rate change!

Does anyone know of a building society bettering this (apart from on small balances) now that Furness are reducing the rate on their Double Access Saver to 4.65% (and allowing only two, not five withdrawals)?

Not a BS but with having a £1 minimum balance and unlimited withdrawals, Secure Trust Bank's Easy Access account may be worth a speculative punt, at 4.65%

Middle_of_the_Road

Gatehouse Easy access 4.75%

https://gatehousebank.com/personal/savings/easy-access/easy-access

wrangler21

Bobblehat said:

jameseonline said:

Just opened the Coventry BS app up and it lists a 5 Access Saver Online Monthly, I'm trying to work out what the account was before, any ideas?🤔

Could it be a Triple Access account? 🤔, that's the only thing I can think of, website doesn't seem to help on closed accounts page just says simplifying savings programme, account was created and several products transferred into it.

Looked in my emails and can't find anything saying an account had changed name, been transferred etc.

I have the same online. I left a low amount in my 3 Access Saver of £1.88 ... it now shows 5 Access Saver (Online) Monthly with the same £1.88 in it! Looks like either they have added a couple of extra accesses .... or it's another "glitch in the matrix" 

I received an email from Coventry to advise that my triple access account was being upgraded to allow five withdrawals, no further changes to the conditions 

35har1old

jameseonline said:

Just opened the Coventry BS app up and it lists a 5 Access Saver Online Monthly, I'm trying to work out what the account was before, any ideas?🤔

Could it be a Triple Access account? 🤔, that's the only thing I can think of, website doesn't seem to help on closed accounts page just says simplifying savings programme, account was created and several products transferred into it.

Looked in my emails and can't find anything saying an account had changed name, been transferred etc.

Received a letter this morning detailing the change to the triple access to a five access.
Perhaps it depends on you contact preferences 

gt94sss2

I recognise these changes benefit customers and so notifying us after the event will be in line with the T&C.

However, this is the first time I can recall that a financial institution has done this without providing advance notice that they were going to be consolidating accounts/issues.

jameseonline

This thread appeared on my Google news notifications yesterday, obviously it's a very important thread😏😁

friolento

jameseonline said:

This thread appeared on my Google news notifications yesterday, obviously it's a very important thread😏😁

Google notifications are based on your personal surfing activity, so they generally will show you more of what your activity suggests you have an interest in