Coventry Building Society

coventrybuildingsociety.co.uk ↗

UK savings with named-bank withdrawals and online payment controls

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80/100
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Ask SI about Coventry Building Society

Answers use saved listing facts and recorded sources.
Homepage screenshot
Screenshot of the Coventry Building Society homepage

What it does

Coventry Building Society provides app and browser access to savings accounts, transaction records and documents. The app can fund savings through Easy Bank Transfer and send money to your Named Bank Account. Other external payees and new-payee setup use Online Services.

Move money between savings and your bank

Use the app to send money to your Named Bank Account or another Coventry account. Easy Bank Transfer brings funds in from another UK bank. The app also shows savings transactions, documents and supported mortgage details.

For an external payee other than your Named Bank Account, or to add a new payee, use Online Services. A Named Bank payment made before 5pm on a business banking day is processed that day and cannot be cancelled. Other payments can be cancelled until 7pm on the business banking day before processing. The app's published Named Bank transfer limit is £50,000 per transaction, subject to the account's own conditions.

Registering the app

Download the iOS or Android app and sign in with your Online Services username and password. Enter the text-message verification code, then create a six-digit PIN; Face ID or Touch ID can replace PIN entry on compatible devices. Only one device can be registered at a time.

Opening a new account inside the app is available on iOS. Android users can use the website for account opening.

An easy-access account

Easy Access Saver (8) opens from £1 and allows withdrawals without notice or a withdrawal charge. Statement-based accounts are available from age 16; younger applicants and passbook accounts use branch or phone opening. Joint applications started online or by phone require a form to be returned by post.

The society's standard charges include a 2% fee for cash-card withdrawals abroad. This is separate from the easy-access account's withdrawal conditions.

Strengths

  • Named Bank transfers and Easy Bank Transfer funding
  • Clear payment cancellation deadlines and app transfer limit
  • Easy Access Saver allows withdrawals without notice

Watch out for

  • Only one app device can be registered
  • New-payee setup and other external payments require Online Services
  • New-account opening in the app is limited to iOS

Best for

  • UK savers moving money between Coventry savings and their usual bank

Sources