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Coventry Building Society: Savings reviews

Name: Savings
Rating: 4.19 (109 reviews)

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4.32

Based on 109 reviews, last reviewed 23rd Nov 2024

200% increase in 5 star reviews

in the past 90 days

100% decrease in 1 star reviews

in the past 90 days

65%

17%

13%

Latest highest rating:

5

Competitive Cash ISA The four access cash ISA pays a competitive interest rate. Coventry Building Society are good at communicating any changes to the interest rate. They ... Read more Reviewed on: 23rd November 2024

Latest lowest rating:

1

Coventry building society used a forged mortgage. Coventry building society used a forged mortgage to seize an oaps home. The court case caused him to stop eating and taking his medications. He died d... Read more Reviewed on: 19th July 2024

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About this product

Coventry Building Society savings reviews can help you to find out more about life at Coventry Building Society. How easy is it to contact Coventry Building Society? And how friendly are they? Our Coventry Building Society savings reviews can help you to find out information like this. Smart Money People is an independent source of honest reviews.

Coventry Building Society Savings reviews (109)

Review of the Coventry Building Society, Savings:

Regular Saver

We opened our joint account online in April. The whole process took one week, and we were set up with easy to view and manage internet banking. I transfer money regularly to this account from another bank, via internet banking. Coventry BS takes account security seriously, though it is straightforward to access your account. So far I have only needed to contact the Cov by telephone, and that was a query while the account was initially being set up; the lady I spoke with was professional, friendly and helpful. Since opening our account Cov BS have honoured the inflation rises by raising the interest rate some 3 times now (not all banks/building societies do this, and they're not obliged to). I also joined their separate site which sends out invites now and again (via email) to answer the odd survey or question. For one short survey I won £200 in M&S vouchers! I get the impression the Cov genuinely listens to feedback. Cov BS moderators regularly converse with customers on the blog section, and anyone can start a thread - most of the stuff on there is interesting with very few gripes! Sure, it's not the best rate out there, yet I like their set up and their features. They have a lot of accounts on offer - something for everyone, no matter what age. Wish we'd got involved with them sooner. Reviewed on: 5th August 2022

refusing to close my account

2 weeks and CBS still refusing to close my account. This establishment think its THEIR money and not the customers money. Ignore them at all costs Reviewed on: 5th November 2021

You're a criminal

Bad experience at the Highworth branch. Got treated like a money laundering criminal. Was asked to provide proof of a private sale of a motorcycle. I was explicit concerning the sale and when asked how I could provide further evidence the manager said I could've (and I quote) taken a screenshot of the eBay advert. I was astonished. The end result was that they just wouldn't believe the money was from an honest transaction and refused to deposit less than £3000. So I closed my account and went to the Post Office and paid it in there. What makes me laugh is that the manager had no idea about motorcycles and I could've shown him a photo of a pram and he wouldn't have known the difference. Reviewed on: 11th August 2021

Sharp practice over interest rates and no communication

I opened a Double Access Saver (online) account with the Coventry paying 1.2% interest on 22 September 2020. While preparing my tax return for the 20/21 year, I noticed from the end of year statement issued by the Coventry in April that the account was listed as a Limited Access Saver (online) account paying 0.55% interest. I queried this by phone & was told that the Society had supposedly sent me an email on 10 February telling me of this change. No such e-mail was received. I complained about this, and was told that as far as the Coventry was concerned, it had met its obligations. And so, on the back of a single email, of which I have seen no evidence whatsoever, the Society believes it can unilaterally close a customer’s account and open another one on considerably reduced terms – in this instance a c. 70% interest rate reduction - without first seeking consent. Unlike other financial organisations, the CBS feels no need to ensure that a customer has received an email on such matters by inviting a response. It doesn't believe it's necessary to issue a follow-up confirmation either electronically or via the post. I see that it subsequently ‘reissued’ the Double Access several times in Autumn at a continuously lower interest rate. This in itself doesn't inspire confidence. My extended family & I have been customers of the Coventry for 20 years. It's a shame that, having once traded on its ethical reputation, the Coventry now freely resorts to sharp practices & treats its loyal customers with such contempt. My family will be taking its custom elsewhere. Not that its managers will care, of course. Reviewed on: 6th July 2021

Good rate

Easy to open a saving account on line and manage it on line. best rate in town at the time of opening. Reviewed on: 4th April 2021

Good interest rate in comparison

Opened as best savings interest of the day. Been reduced regularly since but still slightly better than the rest. Only gripe would be to add a SMS authentication option as well as automated call - not.everone can take a call! Reviewed on: 11th March 2021

Successful Investment

I invested lump sum in an ISA after seeing the rate at the time- content investor . Reviewed on: 18th January 2021

Coventry b soc Online not recommended

A year ago Internet Banking was easy until I was locked out! Trying to access a new Internet Account proved very long winded and in the end I gave up and withdrew funds except for bonds. Not recommended! M King Reviewed on: 11th August 2020

Still living in the 20th century

tried to open an account online - the normal way to do it nowadays. All that happens is that they send you an envelope of paper which took so long to arrive I had forgotten that I had made the application. not sure I can be bothered frankly Reviewed on: 29th May 2020

Excellent service

Always kept informed - good rates - no harrassing!! Reviewed on: 24th May 2020

Good savings product

Receive a decent interest rate for saving a set amount each month to be held for a fixed period of time. Easy to set up online. Staff available to talk with on the phone for help and guidance if required. Reviewed on: 9th February 2020

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