Anyone with the Co-Operative Bank?

iereboy

Quiet life, (or other Smile Customers)

What do you do to get those vouches at the co op? What criteria do they use to send them out to you?

pmduk

iereboy wrote: »

What do you do to get those vouches at the co op? What criteria do they use to send them out to you?

You have to become a co-op member the value is based on your usage of co-op services across the board (ie banking shopping etc)

iereboy

Am sure they have great online service and great call centres and all that but when it comes down to their savings and isa rates, they are shockingly low!

But I guess not all people are into it for the rates.

realaledrinker

As their mortgages, overdrafts & loans are more than 100% covered by savings and current account balances, they have no pressing need to offer unsustainable savings interest rates (which are nearly all inflated by first year bonuses anyway).

Co-op have some very competitive mortgage offers & fixed term deposits & their Britannia arm has a reasonable savings offer.

I have a smile account with an accessible co-op branch for cheque deposits which for me is all I need. Would prefer a higher FPS limit though.

pmduk

I'm with the co-op and have never had any major problems. Some people find their small branch network a problem, but most normal transactions can be undertaken at a Post Office Counter.

Person_one

I've been with the co-op since I was 11!

I have the current account plus and the linked savings plus account that comes with it. I also have a credit card with them. Oh and a second current and saving account and a mortgage in joint names with my ex.

Customer service is brilliant, the staff both at the call centre in Skelmersdale and in branch are great. I know some people say their online banking isn't the best but I can't understand that. I log on a couple of times a day usually and am able to do pretty much everything I need. Its a very simple, easy to use system. You do have to use the annoying card reader sometimes but I think that's the case with most banks.

I also have a membership card, which means that I receive points for the money I put into their financial products (and money spent in their shops) and I get a bit of cash back twice a year.

Their interest rates on savings aren't amazing, but you can get a decent rate on a fixed term if you haggle, I just haven't yet because I need instant access.

Basically, in more years than I care to admit to I haven't had a single problem, have found the staff to be more than helpful, got a wonderful mortgage deal, and hope to stay with them for all my financial dealings in the future if possible!

(The ethical policy is a big thing for me too, its nice to know that my money isn't being invested in things that cause harm, and as a member you take part in regular surveys to keep the policy updated.)

jack_spratt_2

I think you just have to put your savings in at the right time !! they had some very good fixed bond rates earlier in the year but they lower the rates when they have taken enough money into that account as most banks and building societies do!!

Always found the Co-op pretty straight forward to deal with !!

7sefton

Person_one wrote: »

Their interest rates on savings aren't amazing, but you can get a decent rate on a fixed term if you haggle, I just haven't yet because I need instant access.

Erm, 'haggle'? What do you mean... they sometimes have fixed rates which you can take or leave. They certainly don't enter into negotiations over the rate!

slopemaster

I've been with smile nearly 3 years and find them pretty good.
(Unlike RBS)
Call centre people usually chatty, helpful, reasonably knowledgable.
Website stuff works fine.
I'm happy enough

Person_one

7sefton wrote: »

Erm, 'haggle'? What do you mean... they sometimes have fixed rates which you can take or leave. They certainly don't enter into negotiations over the rate!

Its second hand info so may not be true, (like I said, I've always needed instant access) but a family member told me that some staff can offer special rates to customers planning on taking their savings elsewhere. I haven't checked it myself.