My brand new Co-op account - already a blemish!

shirleymarye

I have noticed the Co-op are fairly slow in up-dating transactions.

Maybe they will improve eventually,I just keep my own records of spending and check the account online a couple of times a week.

spidwoman

I have just opened a Cashminder account with the Co-op. I set it up last week, 3 and half weeks after our BR. I have been given an account number over the phone and was told I could set up DD's whenever now. Maybe I should ring them tomorrow to see if I can indeed do this myself?!! I only want this account for DD's really, as it isn't really a card you can use widespread.

Also, I was told by the OR office that they DON'T freeze bank accounts, but they merely inform the banks of your BR and it's the bank's choice as to whether to freeze it or not. That's just what I was told anyway

shirleymarye

You can't set up your own DDs,I had to sign a form so they could transfer them from my previous bank account. You can delete them but not set them up yourself. You can set up a standing order yourself.

shirleymarye

shirleymarye wrote: »

You can't set up your own DDs,I had to sign a form so they could transfer them from my previous bank account. You can delete them but not set them up yourself. You can set up a standing order yourself.

You have to go to the individual companies to set up DDs on your account if you don't want the Co-op to get them transferred for you.

startagain_2

spidwoman wrote: »

I have just opened a Cashminder account with the Co-op. I set it up last week, 3 and half weeks after our BR. I have been given an account number over the phone and was told I could set up DD's whenever now. Maybe I should ring them tomorrow to see if I can indeed do this myself?!! I only want this account for DD's really, as it isn't really a card you can use widespread.

Also, I was told by the OR office that they DON'T freeze bank accounts, but they merely inform the banks of your BR and it's the bank's choice as to whether to freeze it or not. That's just what I was told anyway

Hello spidwoman,
The bank meant that the account is ready to have direct debits set up on it. You need to give your providers the account details and they set it up with the bank. Just take care on when an agreement is made for the first payments otherwise you may get in the situation that I did with the direct debit being drawn a month ahead of the agreed start date.
You are correct, the banks do close or freeze the account, not the OR. However a few of us with Co-op accounts have seen them remain open and don't even get frozen for a short time. Good stuff......
:j Morning everyone!

SA

spidwoman

Thanks SA and good morning

I have no other bank account to transfer DD's from now anyway. I cancelled all my DD's before BR and arranged for them all to be paid by cheque (mum's bank) until I had a new account.

So, do I just give my providers the bank details then, and they will arrange it? No need for forms as no actual transfers? I will be sure to put extra money in for the first couple of months (if I have it) until I see that they are being run properly.

startagain_2

spidwoman wrote: »

Thanks SA and good morning

I have no other bank account to transfer DD's from now anyway. I cancelled all my DD's before BR and arranged for them all to be paid by cheque (mum's bank) until I had a new account.

So, do I just give my providers the bank details then, and they will arrange it? No need for forms as no actual transfers? I will be sure to put extra money in for the first couple of months (if I have it) until I see that they are being run properly.

Hi,
Sorry - just nipped out to Sainsburys! :rolleyes:
There are 2 ways (or more) to transfer your d/ds.
You can either get a form from the Co-op and fill in all the details on there, send it back and they can organise the transfers. I personally would be reluctant to do this because they are a bit slow with some stuff in my experience.
Or, you can ring your providers and just give them the bank details over the phone. Agree on the first payment date and they will send you a written confirmation in the post. It is quite simple, it just depends on whether you have the time and how many of them there are.
HTH
SA

spidwoman

Thanks again SA

There are only 6 I think. Virgin, Eon, 2 life insurances, house insurance and TV license. So, think I will ring them