£100 To Open A Current Account With The Cooperative Bank

YorkshireBoy

LongTermLurker wrote: »

I wondered about that - so if you use it, do you pay interest?

Yes, at 1.24% per month, 15.9% EAR.

I...was surprised that A&L seem to charge interest on your overdrawn balance and a flat fee for daring to use it! (except in the first year of their current account, it seems).

The A&L overdraft usage fee is 50p per day, max £5 per month, and is waived during the first year.

If you have a large enough overdraft facility it's entirely possible, and profitable, to stooz the lot...even after your first year.

michaels

LongTermLurker wrote: »

Or maybe they have a cunning linguist answering the phone and wait until you speak and emulate your accent?

You get that on top of a £100 quid...the banks really are getting desperate for our custom

angela_stone

I opened an account over the phone was told offer still available, but had to call about some paperwork received and thought would double check the incentive and was told blatenly that it says on the leaflet that the condition is that you transfer salary, standing orders etc, so does anyone have a leaflet please.

Jake'sGran

I have been with them for over 20 years on the Internet i.e. Smile Banking.
You can't beat them for service. I am always getting emails suggesting I change to a "plus" account but assumed it is one with all the extras like holiday insurance and free overdraft so I ignore them. I get interest on my current account but it has just been reduced. If they are offering £100 for new Co-op current accounts it's generous. I have never had any incentives from them:mad:

My son has an ordinary current account with them and can view it on line and send messages. He'll be annoyed when I tell him about this offer.

Their ISA was the best available at one time and then they reduced it and now it is a poor rate but at least with the Smile account you can havings a savings account which is handy for holding any spare cash before it goes to someone like Kaupthing Edge or similar.

lynzpower

I have been with them for over 20 years on the Internet i.e. Smile Banking.
You can't beat them for service. I am always getting emails suggesting I change to a "plus" account but assumed it is one with all the extras like holiday insurance and free overdraft so I ignore them. I get interest on my current account but it has just been reduced. If they are offering £100 for new Co-op current accounts it's generous. I have never had any incentives from them

totally agree with you Jakes gran. the service I recieved from smile & the cooperative is second to none. I bank and have banked pretty much elsewhere, and smile top it for me I cant consider going elsewhere ( shame thier savings rate are so pants I agree, I think its cos the dont invest in guns & stuff )

On the plus side tho, smile customers get a free case of wine when they refer a freind, which isnt a bad little perk I dont think ;D

weezie_2

Anyone with a Smile current account tried to claim the £100? I've got a joint account with Smile plus an inactive current account. They've always been great, but not much credit interest, so I moved my account but left the old one open. My main account is now with FD.

I enquired in the branch yesterday & they said I wouldn't be eligible. Anyone tested this out? Maybe I should let them figure out that I already have an account with them?

YorkshireBoy

YorkshireBoy wrote: »

Was assured I'd get the £100 within a month of my first deposit (doesn't matter to me whether it's one month or three as long as it's paid).

Hmmm...been into branch today to deposit my £800 (actually a bit more so it doesn't look too obvious!) and picked up a leaflet on this offer. They didn't have any last weekend when I opened the account, but the T&C's look a little different to what I was told verbally last weekend. Specifically...

"£100 cash when you switch to us with Current Account Plus", and

"switch to our new Current Account Plus and we'll arrange everything for you..." (my emboldening).

However, deep down in the small print it says...

"Open a Current Account Plus in branch before 21st September 2008 and deposit a minimum of £800 per month and your Savings Plus account will be credited with £100 on or before 22nd December 2008."

Looks like it might be a long wait!

lynzpower

I went to the cooperative bank in walthamstow yesterday, and found a leaflet ( for anyone looking in case they are not "out there" I dont know we hadly have any branches in london )

It seems the code is the sort code of the branch, this is stamped on in the corner.

OH called today after theyd closed and had to give the code to the call centre- they have advised branch to call him back on monday

HTH,

LongTermLurker

YorkshireBoy wrote: »

However, deep down in the small print it says...

"Open a Current Account Plus in branch before 21st September 2008 and deposit a minimum of £800 per month and your Savings Plus account will be credited with £100 on or before 22nd December 2008."

Looks like it might be a long wait!

21 September - 21 December is 3 months, and it says before 22 December, so I'm confident that's consistent with the 3 months previously mentioned.

ie, if you open on 21 July and pay in Jul, Aug & Sept I suspect you'll probably be paid by 22 Sept (ish). I try not to read too many gotchas into offers. I doubt they are trying to catch folk out.

rail.link

YorkshireBoy wrote: »

However, deep down in the small print it says...

"Open a Current Account Plus in branch before 21st September 2008 and deposit a minimum of £800 per month and your Savings Plus account will be credited with £100 on or before 22nd December 2008."

No phone applications, then ?