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Coventry First

Deposit £1,000 each month and our straightforward current account gives you something extra - a competitive rate for the first year, right up to £250,000.
  • Would you like to manage your account, online, in branch or by phone?
  • Would you like a debit card with your account?
  • Would you like to use your account to pay bills?
1.10%
AER* for the first year (variable)
Rate includes 0.85% AER* first year bonus.
Login & apply
Select 'Login & apply' if you already use Online Services, as we'll usually be able to open your account straight away.

At a glance

The current account with a difference

Coventry First is a current account that combines a competitive savings rate with all the main features you'd expect from a current account.

Unlike some other current accounts where you may only receive interest on a small proportion of your balance, with Coventry First, you can earn interest on your money right up to balances of £250,000.

  • Earn 1.09% gross p.a, 1.10% AER* variable for the first year on balances up to £250,000 paid monthly when you deposit £1,000 each month**
  • Rate includes first year bonus of 0.85% AER*. After the first year you'll receive a competitive rate dependant upon the balance of your account (see account summary for more details)
  • Available to those 18 or over and subject to status
  • £250 interest-free overdraft and Visa debit card
    Representative example:
    Up to £250 - 0% interest pa (variable)
  • Account switching service to ensure your monthly payments are moved to your new current account

How it works

Using your account

Coventry First has everything you need to manage your money, whether you prefer to bank online, by telephone or in branch.

Plus, with Coventry First, you'll receive a monthly statement so you can keep an eye on your money.

Paying money in

  • Transfer money online
  • Cash or cheque in branch
  • Arrange an electronic payment from your bank or building society account or set up a standing order to make regular deposits
  • Pop a cheque in the post
  • Transfer money from another Coventry account

Withdrawals

  • Use your Debit card wherever you see the Visa sign worldwide
  • Pay regular bills by Direct Debit
  • Call us to arrange a one-off electronic payment or standing order to your nominated account or another account
  • Transfer money to another Coventry account
  • Request a cheque over the phone or in branch whenever you need one
  • Just in case you go overdrawn, this account comes with a £250 interest-free overdraft
    Representative example: Up to £250 - 0% interest pa (variable)

Interest

  • Interest is paid monthly on the last day of the month

Switching your account

Switching your current account can be a daunting prospect but don't worry, our dedicated account switching team will move your Direct Debits and standing orders over to your new Coventry First Account.

3 simple steps

  1. Apply for your Coventry First account
  2. Look out for your Welcome Pack - when it arrives, complete and return the 'Account Switching' form
  3. Our account switching team will arrange the transfer for you.
Please note: we are not part of the Current Account Switch Service, which guarantees to switch your account in 7 days.

How to apply

You have a choice of ways to apply for this account:


Apply online

Applying for your new account online is quick, easy and secure.

Log in and apply

If you're an Online Services customer, you can log in and apply.

Give us a call

Our friendly team are waiting for your call - simply get in touch on 0845 766 5522.

Pop into branch

We're always happy to see you face-to-face and take you through the application process - simply pop into your nearest branch.

We subscribe to the Lending Code which is monitored and enforced by the Lending Standards Board. Further details can be found at www.lendingstandardsboard.org.uk.

For information and guidance on how to manage your money from the independent Money Advice Service, please visit www.moneyadviceservice.org.uk

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. The gross rate is the interest rate payable before the deduction of tax.

**To earn the advertised rate of interest, you need to deposit at least £1,000 each month, not including transfers from other Coventry accounts. Otherwise, you will earn a nominal variable rate of interest on your entire balance the following month. This nominal rate is currently 0.95% AER in the first year which includes the 0.85% AER first year bonus. From the second year this nominal rate is 0.10% AER.

Coventry Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (firm reference number 150892 www.fca.org.uk). This site is intended for UK residents only. Coventry Building Society. Registered Office: Economic House, PO Box 9, High Street, Coventry CV1 5QN.

Our advisors are available Monday to Friday 8am-8pm, Saturday 9am-5pm, Sunday 10am-4pm, telephone self-service is available 24 hours a day, 365 days a year. Contact your service provider for details of call charges, as costs may vary. Find out why we use an 0845 number. To maintain a quality service, calls made to and from Coventry Building Society may be monitored and recorded.