Coventry Bs new over 50 a/c

roddydogs

cancel please

Bernard_Coleslaw

Are you sure?

The only restriction I can see on their site is for people who already have their 60+ E-save, but that already pays 6.40% anyway. The only account I can see that pays 6.25% is their 60+ saver, and there doesn't appear to be any restriction in transferring that one over.

Old_Slaphead

Presumably you can transfer out to your nominated account then transfer back in to the 50+ esaver ??

barak

Bernard_Coleslaw wrote: »

The only restriction I can see on their site is for people who already have their 60+ E-save, but that already pays 6.40% anyway.

Yes, but only until 30th June 2008, whereas the new Over50 account is fixed for 12 months....

roddydogs

Bernard_Coleslaw wrote: »

Are you sure?

The only restriction I can see on their site is for people who already have their 60+ E-save, but that already pays 6.40% anyway. The only account I can see that pays 6.25% is their 60+ saver, and there doesn't appear to be any restriction in transferring that one over.

Your right, sorry as its not on their current webbsite DOH!

Meltdown_2

Hmm ...
I agree with you, roddydogs, on a literal interpretation of what they clearly say on their website, i.e.
"You may not open a 50 Plus eSave account if you have opened a Sixty-Plus eSave account."

but I wonder whether this is just another example of the poor standard of English exhibited on bank/BS websites.

The above statement is in the section where they are trying to make it clear that you cannot open more than one over-50s account. It seems to me they what they intended to say is that you can't have BOTH an over-50 and an over-60 account at the same time.

The next bit from the Coventry website :
"Apply online and then arrange a transfer from your bank account, another Coventry account or if you prefer post us a cheque." <my italics>

obviously allows for the expectation that monies can be put into the over-50 account from other Coventry accounts (or anywhere else) so it would seem perverse for them not to allow the transfer of ALL funds from an over-60 account to an over-50 account (provided that the over-60 account is then closed.

Perhaps the wording on the website will be modified in the next few days, as the BS realise the position they have placed themselves in. Clearly many existing over-60 account holders will no doubt take the same view as you.

Bernard_Coleslaw

Meltdown wrote: »

Hmm ...
I agree with you, roddydogs, on a literal interpretation of what they clearly say on their website, i.e.
"You may not open a 50 Plus eSave account if you have opened a Sixty-Plus eSave account."

The Sixty-Plus eSave account wasn't the one roddydogs was saying he already had. He has the 6.25% Sixty-Plus saver, which is a different account (and which he can transfer over if he wanted to). I suspect this is why he's now cancelled his original post.

knights

This is from their T&C's:-

You may only ever open one 50 Plus eSave account, either solely or jointly. However many issues of the 50 Plus eSave account there may be, you cannot open more than one. You may not open a 50 Plus eSave account if you have opened a Sixty-Plus eSave account.

I am not sure what the confusion is, have I missed something?

regards

Meltdown_2

Yes, Bernard. The 60-plus eSave account seems to be 'no more' anyway (other than as a closed account). No doubt that means its rates will plummet like a stone once the T&C allow it - like nearly all other 'closed' accounts.

Bernard_Coleslaw

knights wrote: »

This is from their T&C's:-

You may only ever open one 50 Plus eSave account, either solely or jointly. However many issues of the 50 Plus eSave account there may be, you cannot open more than one. You may not open a 50 Plus eSave account if you have opened a Sixty-Plus eSave account.

I am not sure what the confusion is, have I missed something?

regards

The OP started by saying the Cov had launched a 6.40% account - 50+ e-save, and he thought he wasn't allowed to transfer his 6.25% account.

But in fact he could transfer his account if he wanted to - (he has 60+ saver, not 60+ e-save - there's a difference).

knights

Bernard_Coleslaw wrote: »

The OP started by saying the Cov had launched a 6.40% account - 50+ e-save, and he thought he wasn't allowed to transfer his 6.25% account.

Oh ok sorry, for some reason I cannot see the OP's opening comment, guess thats because he editted it afterwards?

regards