Co-operative bank student account 2012/2013: We want your feedback

24

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  • ridetherhythm
    ridetherhythm Posts: 11 Forumite
    edited 28 August 2012 at 3:09PM
    Applied for a student account online.
    Got accepted and received UnWelcome Pack in the post..

    UnWelcome pack informs you to telephone customer service to register for telephone banking.:eek:
    But i don't want telephone banking..just want internet banking. But no, have to register for telephone banking first before even thinking about registering for online banking. You have to call a 08457 number, which is outside of most landline/mobile inclusive call allowance packages. :mad:

    Expect to waste half a lifetime being ping-ponged between their Pillar and Post departments in trying to setup your account. (see Laurel & Hardy - furniture payment sketch at youtube):p

    If you manage to get through to someone at lo-op customer service, who can cope with setting-up your new student bank account; without first thinking is it in their job description/capability to assist you..expect your online account application form to be cloaked in total secrecy until you state the memorable word you gave on your application form.:cool:

    If you fail to give the correct memorable word to lo-op after three desperate attempts; whether through forgetfulness, oversight, it being a new experience for you, not having it tattood/carved onto your body so as to remind yourself of it, not having realised the inSIGNIFICANCE of it on your online application form but of the utmost SIGNIFICANCE thereafter & forevermore,....don't expect any sympathy from them.:beer:

    Instead expect the Spainish Inquistion over the phone and a journey across counties to reach one of their branches with passport/proof of address/signed avadavit in tow to prove your identity to them in person. They can't verify you from any of the information you gave them on your online application form(as it won't be on their system despite having been completed on their website): details such as your date of birth, uni, uni course, years at home address, email address, any existing bank, or income details. None of this information would appear in their unWelcome Pack sent to you, even if it had been misdelivered into the wrong hands, but they cannot ask for any of this personal information to prove your identity to them, as an alternative to to stating your memorable word. Remembering you memorable word on the forth attempt is no good either. You may as well just end life with lo-op here and now.:T

    All this hassle and there isn't even half a penny in the account, nor will there be.:D

    Best bet is to avoid opening an account with these clowns, as they wasted too much of my time and effort being unhelpful towards getting my account up and running. They clearly don't want this student's business now or in the future.:money:

    I now have spend more time and effort cancelling/closing the stillborn lo-op account, before i can open a student bank account with a bank that wants my business and makes an attempt at decent customer service.

    Yes, online bank security is good and i want it, but i never reached the goal to set-up internet banking with these ming-mongs. They just put impenetrable barriers in the way, to prevent account setup from happening. A simple setup process, which other banks manage to achieve WITHOUT human intervention, is a day's mission at lo-op.:(
  • fishybusiness
    fishybusiness Posts: 1,263 Forumite
    Don't know what the problem is really...

    All banks have a security process to get your phone and online banking setup.

    I for one am very happy they take the care they do.
    If you fail to give the correct memorable word to lo-op after three desperate attempts

    Maybe you don't know the meaning of 'memorable'??
    I now have spend more time and effort cancelling/closing the stillborn lo-op account, before i can open a student bank account with a bank that wants my business and makes an attempt at decent customer service.

    Actually that is incorrect, you can just move on, leave the old account, just be aware it will show up with the credit reference agencies.
  • ridetherhythm
    ridetherhythm Posts: 11 Forumite
    edited 29 August 2012 at 2:32PM
    Don't know what the problem is really...

    All banks have a security process to get your phone and online banking setup.

    I for one am very happy they take the care they do.

    Maybe you don't know the meaning of 'memorable'??

    Yes, as stated in my earlier post, i too want my bank to have good security. I also know the definition of memorable...:(

    However, a helpful customer service representative would know what other personal questions to ask a caller, should they perhaps have forgotten the memorable word?:A

    So what about remembering the memorable word half-way through the call and having another attempt at it? This time getting it right. :j
    Their response: Still failed security and now the only option is to traipse across town to reach one of their branches so as to confirm your identity in person.:T

    Funny how when calling the same contact number to cancel/close the account; the CS representative was able to verify my ID, both with the memorable word as well as additional checks....so why couldn't the ming-mong i spoke earlier when trying to setup internet banking do likewise? In fact, the account closure CS rep wondered why their colleague, the ming-mong, had been so rigid and unhelpful...:o

    Overall, I may have been put thru to a clown initially (pass the parcel), while my second excruciating call (setup internet banking) must have been with their resident village idiot, but my last call (to close the account) was with the lone(?) professional at their CS centre. Shame about that order, since by that time, i had already decided to "ditch and switch":money:

    I don 't want to flip a coin before calling/visiting them as to what kind to service i will receive. Their customer service needs to be more consistent, more understanding, and their systems between account application and setup more integrated and maybe more automated?:beer:

    Now off to join HSBC
  • unlocated
    unlocated Posts: 85
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    edited 30 August 2012 at 2:17PM
    Hi there!

    thinking about opening an account with them but have a doubt about one of the points in their terms and conditions.

    that's it:
    Total charge for credit

    An indication of the total charge for credit for this formal overdraft is £0.00. This figure is illustrative only and calculated upon the assumption that you draw down the entire overdraft only once at the start of the facility and repay it in one amount on the expiry date with no use of the account affecting the calculation.
    The total amount payable by you for your overdraft will be any amount by which your account goes overdrawn together with applicable interest and charges. Other taxes and costs may exist which are not paid via, or applied by, us.

    What that means? I have 0% interests and no fees only if I go overdraft for the agreed amount once only and I repay everything in one go?
    I'm confused...

    also does one have to have a student loan in order to take on this account?
  • Does anyone know how long it takes for them to send you an email or post about being accepted? I have received an email about it being processed, but that was the day I applied for it online (which was on the 25th)...So, any ideas?
  • Yaman wrote: »
    Does anyone know how long it takes for them to send you an email or post about being accepted? I have received an email about it being processed, but that was the day I applied for it online (which was on the 25th)...So, any ideas?

    The e-mail I received on the 23rd after applying insists that they will contact me within 5 working days. They have not. I am awaiting contact until end of the week, otherwise I will contact them to enquire about my application. I was really hoping this would be a simple process, where I could have the account up and running by now to be honest.
  • ridetherhythm
    ridetherhythm Posts: 11 Forumite
    edited 6 September 2012 at 12:16AM
    Update to my earlier post.....from 29/08/12

    Am still waiting for a letter from co-op, confirming that my student account with them is closed. Thought i may need this in writing, should HSBC ask (after having conducted their own credit history checks)?

    So phoned co-op yesterday, to chase up this "account closure" letter. Co-op stated they had sent it out on 29/08/12. I replied that i had not received that letter. I then politely asked if they could email a copy of this missing "account closure" letter to the account holder's email address on their files. Co-op response was that they do not send emails. :P

    Am a first year student, hoping to open a student bank account (now) with HSBC, and hopefully sometime before graduation in three years time:P
    That is, if co-op can get their act together.

    May just go into HSBC, explain the ineptitude with co-op and why they appear on my credit history file, and hope HSBC will accept my business...
  • I shouldn't think HSBC care where you have bank accounts, or even if you closed an account recently.

    They may question you if your credit history shows a credit search and identity search recently, which it will regardless of the status of any new account.

    I'd just go in and apply, you have nothing to lose, if they say come back with confirmation of account closed and we will open your HSBC account, it is sorted. If they say no, you can move on.
  • amiehall
    amiehall Posts: 1,363 Forumite
    Just a quick alert for anyone with this account from last year, your overdraft will probably be expiring soon and will be removed without notice unless you call to renew it.

    If you're opening a new account, you need to write down the opening date in your diary next year as you will need to call just before then to renew your overdraft!
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  • alex99
    alex99 Posts: 58 Forumite
    edited 13 November 2012 at 4:06PM
    MSE_Alana wrote: »
    Hi all,

    In our newly published Student Accounts 2012/13 guide, the Co-operative Student Account is one of our new top picks.

    It offers a guaranteed 0% overdrafts of £1,400 in year one (as long as you're accepted). Then £1,700 in year two and £2,000 in year three.

    We're after feedback from people who have applied this year and want to know your experience and if you had any trouble getting the overdraft.

    Thanks for all help in advance :)

    We choose the Coop for our daughter since my wife and I both bank with the coop. They have the best deals, no shareholders, an ethical stance, and an excellent online service ......

    but ...........


    It took weeks to actually set up the account and even longer for the debit card to arrive. She had already started at university by the time it did arrive and was forced to go to the branch in person with other forms of ID to withdraw cash over the counter for the first three weeks.

    The Coop never offered any real explanation for this, but they did apologize and gave my daughter £50 compensation.

    All then went well until half way through her second year when they suddenly withdrew her overdraft facility (which she had never really used so there was no question of mis-use). When she complained they immediately gave her an overdraft facility (for a generous but completely different amount) and charged her £20.

    One year on (and the best part of four months since I got involved and despite lots of letters back and forth threatening to take - and then taking - this to the financial ombudsman) we are still waiting for any kind of coherent response or explanation from the Coop.

    None of this is the end of the world I suppose. My daughter has an adequate overdraft facility and will (I trust) eventually get her £20 back and her promised £2000 free student overdraft facility restored, but the sluggishness of coop customer services in this matter is quite mind boggling.

    So a mixed experience.

    We are currently deciding on a student account for my son - off to university in a few months' time. We may (just) opt again for the coop (keeping our fingers crossed) but we are seriously considering all our other options this time round.
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