We’ll automatically transfer your savings into an Easy Access Saver (7). But before this happens, we’ll send you everything you need to know about how the new account works and what the interest rate is.
No, there’s nothing you need to do. Around a month before your Regular Saver comes to an end, we’ll write to let you know that we’ll be transferring your money to an Easy Access Saver (7).
Easy Access Saver (7) has a variable rate so it could go up or down at any time. You might want to consider an account with a fixed interest rate, so if you’re happy to tie your money away for a period of time, you could consider a fixed rate account.
Easy Access Saver (7) is a straightforward easy access account that you can manage online or by phone. It’s designed to help you save and you can add as much money as you like, as often as you like up to a total of £250,000. You can also take money out whenever you like, or close the account without a charge.
You may have opened an Easy Access Saver (7) in the past. This is ok, as you are able to have more than one of this type of account. Your Regular Saver will transfer into another Easy Access Saver (7). If you would like to combine your savings in your Easy Access Saver (7) accounts, just give us a call, we’ll be happy to help.
You can move some or all of your money to another savings account from the Easy Access Saver (7), either with us or with a different provider without charge. You can also close the account without charge if you want to.
Until your savings have been moved to Easy Access Saver (7), the Regular Saver Terms and Conditions will still apply, so if you take money out sooner you’ll be charged an amount equal to 30 days’ interest.
If you want to carry on saving regularly, you can open another Regular Saver for 12 months. Just remember that you can only transfer money into it from an account you hold with another bank or building society, not from another Coventry Building Society account. You can also only have one Regular Saver at a time so if you want to open another one you have to wait until your account has come to the end of its 12 month term.
You can apply online, or call us and we can set it up for you.
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