£100 To Open A Current Account With The Cooperative Bank

YorkshireBoy

TehJumpingJawa wrote: »

I learned today that if you are currently unemployed, they don't bother doing the credit check, as apparently it will always fail for unemployed people - regardless of their credit rating, or volume of savings :mad:

Are you saying you were told they'll refuse to give unemployed people the account, or that they can have the account without a credit search?

If the latter, you were told incorrectly.

LongTermLurker

jeepjunkie wrote: »

I'm interested in this offer too but...

On this thread it says you have to pay in £800pm for three months.

On the website is says...

To open and maintain a Current Account Plus you must pay in a minimum of £800 per month.

T&Cs state...

Current Account Plus
[FONT=Helvetica Neue LT,Helvetica Neue LT][FONT=Helvetica Neue LT,Helvetica Neue LT]1. To open and have a Current Account Plus you must be over 18, a UK resident and pay a minimum monthly credit of £800 into your account (if you do not your account may be converted to a standard Current Account). [/FONT]
[/FONT]
It looks like the standard current account carries no monthly fees or funding requirement so all looks good to go?

After 3 months, they pay you £100 - at that point, you withdraw your money, stop paying in £800pm and either close it, or allow it to drop to the basic CA - but why would you do that?

LongTermLurker

jeepjunkie wrote: »

Thanks LongTermLurker!

Account applied for successfully so £100 will be winging it's way in a few months. I plan on keeping this account for utility bills as i'm fed up with RBS.

:j

jeepjunkie wrote: »

Thanks LongTermLurker!

Account applied for successfully so £100 will be winging it's way in a few months. I plan on keeping this account for utility bills as i'm fed up with RBS.

:j

I heard you the first time

JimmyTheWig

YorkshireBoy wrote: »

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.

Surely even £1000 overdraft is enough to make money on this, if you don't pay tax on savings?
That's my plan...

Jake'sGran wrote: »

I have been with them for over 20 years on the Internet i.e. Smile Banking.

You were doing internet banking in 1988? I'm impressed.

LongTermLurker wrote: »

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

LongTermLurker

JimmyTheWig wrote: »

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

Someone who can cleverly impersonate a number of different regional accents to make them sound more "local"

Anon

Given the A&L and other offers about at the moment, is there a risk when applying for this account as well within the same week? I understand that there will be a credit search (3 credit cards and a current account this month, may be pushing it a bit ...) but what basis do they judge whether you are eligible? Still worth a punt?

Anon

Milarky

The following branches of Co-op bank (in the range '08-90-XX') accept Faster Payments according to the sort code checker at http://www.apacs.org.uk/sortcodechecker/

Preston 08-90-15
Bolton (?) 08-90-18
Stockport (?) 08-90-24
Manchester 08-90-28
Blackburn 08-90-50
Warrington 08-90-53
Rochdale 08-90-52
Wigan 08-90-58
Sheffield 08-90-75
Liverpool 08-90-86
Barnsley 08-90-88

Others branches accepting FP (no Google - can anyone add the names?)

08-90-35
08-90-47
08-90-51
08-90-55
08-90-56
08-90-92

Also, post office counters everywhere accept cash (but is that instantly paid into the account asper A&L accounts anyone?) which could be used to pay in the £800+ too...

YorkshireBoy

Anon wrote: »

Still worth a punt?

Definitely! Remember, it's not like a credit card where they're considering whether to give you £3K or £5K as a limit and wondering if you'll be able to find £150 a month in minimum payments.

This is a current account, has only a £200 overdraft facility, increases their customer base, and gives then cross-selling opportunities galore.

Although I hadn't had a search for a while when I applied for mine, I did have substantial stoozing debt (and 6 other current accounts on my CRA file). Didn't stop them giving me an instant accept.

YorkshireBoy

Milarky wrote: »

The following branches of Co-op bank (in the range '08-90-XX') accept Faster Payments according to the sort code checker at http://www.apacs.org.uk/sortcodechecker/

Despite applying in my local branch, they assigned me a 'central' (Manchester Head Office?) based sort code of 08-93-XX, which doesn't yet accept faster payments. :rolleyes:

Also, post office counters everywhere accept cash (but is that instantly paid into the account asper A&L accounts anyone?) which could be used to pay in the £800+ too...

Yes, according to the T&C's...

http://www.co-operativebank.co.uk/cfscombi/pdf/66115_CFS_MKT2255B_WEB.pdf
(see condition 4.5)

...and providing you've made the deposit by 4:30pm.

Essenchill

Am I right in thinking that there is no credit-interest with this account?