Unfortunately this basic bank account is no longer available.
This is an easy access savings account from the Coventry Building Society that resembles and can be operated like a basic personal bank account. It is available to individuals who are UK residents and who are aged 16 or over.
It is primarily a telephone based instant access savings account but can also be managed online, in branch to some extent and by using the Coventry Building Society ATM CashLink cash card which is available on request. Even though it is classed as a savings account it does allow Direct Debits and standing orders and also allows regular inward payments such as wages. Consequently, it is ideal for someone who needs a ‘real’ bank account but has trouble obtaining one because of some previous bad credit history. Branches are spread mainly throughout Southern England.
What Coventry Building Society offers:
- An easy access savings account that can be used like a basic personal UK bank account for UK residents.
- CashLink cash card available on request which can be used at any LINK, VISA and PLUS branded ATM in the UK and abroad.
- Minimum investment of just £1 is required (cheque from a nominated bank account or postal order) (maximum investment £250K).
- Adverse credit should not be a problem.
- Apply in person at any branch, by telephone or apply online.
- Telephone and online banking.
- Withdraw up to £500 in cash per day (subject to five transactions max. per day and sufficient funds being available) from any LINK, VISA or PLUS ATM both here in the UK and abroad (the Coventry Building Society must be informed before using the CashLink card abroad).
- Transfer funds (minimum of £250) to a nominated bank account. This cannot be requested at a branch.
- Deposit cash or cheques at any branch or by using the CashLink cash card at an ATM based at a Coventry Building Society branch. Cheques can also be deposited by post.
- Pay in funds electronically from a bank or Building Society account.
- Standing orders (inward and outward) and Direct Debits (outward).
- Paper statement provided each quarter.
- Joint accounts allowed.
- Interest paid annually or monthly.
- The account is free to operate when run responsibly.
- No cheque book is issued.
- No overdraft is available.
- No debit card is issued just a cash card.
- No cash withdrawals at a branch counter.
- An administration charge of £20 is payable if there are insufficient funds available to pay a Direct Debit or standing order. This applies to one-off and regular standing orders and electronic payments.
Proof of ID and address is required.
Some of the fees for this Coventry Building Society easy access savings/basic account include:
Withdrawals from VISA and PLUS cash machines abroad 2%.
Unpaid Direct Debit fee £20.
Unpaid standing order fee £20.