Co-op bank frequency of statements

Thea

Im currently getting a statement every 20 transactions.

Called up 4 times now, first they told me they couldnt reduce the frequency to once a month, then it was by next month it was sorted. Getting tired now and difficult to work out what i have and dont have since i will often put small amounts on my card

Any one else had this problem. Do i have to make a formal complaint?

JuicyJesus

Thea wrote: »

Im currently getting a statement every 20 transactions.

Called up 4 times now, first they told me they couldnt reduce the frequency to once a month, then it was by next month it was sorted. Getting tired now and difficult to work out what i have and dont have since i will often put small amounts on my card

Any one else had this problem. Do i have to make a formal complaint?

Do you use online banking? If you're having trouble keeping track of things on your account, that may be a good first step, as you'll be able to see transactions regularly and without having to wait for the Co-op to send you a statement.

To be honest, it's probably their systems being stupid, as these are universally acknowledged as being crap (a statement every 20 transactions? Seriously?) A complaint won't really get you anywhere.

Stuart_W

As far as I know, co-operative bank statements are automatically produced every 25 transactions, unless requested to be more frequent. 25 transactions is a full page.

There is some major IT upgrade in the pipeline, so it may change in the near future. They are fulfilling their commitment to sending regular statements, so I don't think there will be any grounds for a successful complaint. You can try, though.

PasturesNew

I am with the CoOp, I seem to always get two separate sheets, in separate envelopes, on the same day. It's annoying.

Dr_Cuckoo3

"reduce" or "increase"


COOP Bank send statements every month or after every 25 transactions whichever is sooner , if your statement is due on the last day of the month and you reach 25 transactions a the day before your statement is produced you will receive two statements in that calendar month

I receive two or three statements per month , they never put more than one statement page in an envelope

In accordance with its ethical policy no doubt http://www.goodwithmoney.co.uk/your-environment/

COOP_BANK wrote:

Indeed, environmental issues have been a part of our Ethical Policy for the last 17 years

If you meant "increase" statements to every month , then accounts that are not used much will generate less frequent statements

active accounts = every 25 transactions (interim statement) followed by a final statement on the statement date

inactive accounts = after 25 transactions less than monthly

Careful_ly

Co-op offer 24 hour automated telephone banking on 01695 53760, it lets you listen to current balance, last 5 debits and credits. Would this help keep track?

Thea

Thanks for the replies.

Rang them today, apparently there company policy is to send a statement every 25 transactions (not the 20 they told me!). When questioned the manager could not give me one single decent reason why this was. All she could say was that because of there charging periods they have to inform you that a charge is added due to unpaid direct debit etc

What a load of rubbish! One statement once a month is all anyone really needs. That way you know when you get paid where you shopped and all the bills you pay. In the month of December alone i got 4 statements!? Ive been with Natwest, Barclays and Abbey. All 3 send one statement out. If you get a charge for any reason you get a letter stating why you got the charge and when they will be taking the money out.

Also the less you use an account the less statements you get- i agree- use to be every 3 months for me. But now i use my card for small transactions like £3 odd because i was wasting money taking out and breaking a £10 note then the change quickly disappeared and i take more money out and so on.

Ethical banking- got to laugh really. 4 statements (only 1 with 25 transactions), 4 envelopes, 4 trips my poor post man had to make. Rather then 1 statement 2 pieces of paper (printed on both sides) and 1 envelope.

Wonder what co-op carbon foot print is on statements alone. Think il be taking mine into my local branch, they can store them for me.

Stuart_W

I think you make a fair point. I believe their major IT upgrade has been slightly delayed due to the further requirements of integrating the whole Britannia system but is desperately needed, especially as Co-op will very soon be releasing contactless payment cards as standard - so the number of people performing 25 transactions within a week or two will surely massively increase.

As co-op is one of the banks that has definitely committed to contactless, and will begin issuing in the next few months, the 25 transactions issue needs sorting quick!

Tubbss

Hi,

I know for a fact that it is quite easy to ammend statement frequency with the co-op from 25 transactions to monthly, quarterly, half yearly or anually - pop intp your local branch and any of the staff can do this for you.

[Deleted User]

branch staff should be able to help
had opened a account and had made 25 transactions over 4 days and statement is there next day :O