Cheques your mate at Coventry
www.moneynews.co.uk > General finance > Cheques your mate at Coventry
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Money News |
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Cheques your mate at Coventry
Thu 16th Nov 2006
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The key outcome of the report is that from November 2007, customers will be able to accrue interest on cheques paid into their bank or building society accounts sooner than at present.
Interest must be paid no later than two working days following the day the cheque was paid into an account, according to the Payments System Task Force.
David Stewart, chief executive of the Coventry Building Society, remarked: "The reforms will be a step in the right direction for consumers when they come into effect next year, but our Members are already getting a better deal. If customers want to earn interest from day one, I'd recommend they came to the Coventry."
Any cheque that is paid into a Coventry account earns interest from the day it is paid in, incorporating accounts such as Sixty-Plus 60 Day Notice Account and Fixed-Rate E-Bond, which offers an interest rate of 5.80 per cent and is fixed until January 31st 2008.
Related News : General finance |
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