Co-Op bank - £200 if you switch to them

Bimster

I received the letter a couple of days ago.
I rang the switching team and they explained each month means 30days from your first payment.
So my switch completed 14/11
I paid in over £800 on:
14/11
13/12
25/01
28/02
The 13/12 payment is seen to be another payment between 30 days from 14/11.
They have raised a case on it and a team will be looking into it. The switching team advisor said it shouldnt be a problem as I paid in one day early.

Even the letter states "pay at least £800 each month for the three months after switch complete"
each month to me is nov, dec, jan etc
not 14th Nov to 13th Dec, and 14th Dec to 13th Jan.....etc

Does anyone have the T&C for this offer?

harz99

Bimster wrote: »

I rang the switching team and they explained each month means 30days from your first payment.....................



Even the letter states "pay at least £800 each month for the three months after switch complete"
each month to me is nov, dec, jan etc
not 14th Nov to 13th Dec, and 14th Dec to 13th Jan.....etc

And each month to me means calender month as in red above. Has to be that way or anyone whose switch date was towards the end of the month, could well not have enough days left to make a payment before that month finished.

I don't have a copy of the T&Cs but from memory I don't think they are any more precise than the wording on your letter, which of course is open to several interpretations!

When I rang the switching team yesterday, I initially got told I didn't qualify because I had not made a payment in January - the lady was using your logic - after pointing out that I had complied with the terms by making the payments under the calender month system, a chat with her manager confirmed that to be the case.

There is an obvious staff training issue, but really any blame for the confusion should be laid at the door of whomsoever came up with such a woolly set of offer conditions in the first place.

princessfufu

amsterdamgroove wrote: »

Thanks for sharing. Good luck!

Just to up-date for anyone who was in my situation that I have now been paid. Phew...

4905

I haven't received the £200 yet.
I opened and switched my bank at around 07/11. My salary is paid to the new co-op account at the last working day of each minth since then. The fourth > £800 was paid on 29/02. I guess I will get the bonus in two weeks.
By the way I have £200 interest free overdraft until Easter. The bank once made mistake but refunded me the interest charge after a call. I also applied co-op credit card in jan and get cash back for purchase. Not too bad at all.
I will keep the account for at least another 6 months

Bimster

just been paid..:-)

bigstevex

Just received a letter saying I won't recieve my £200 as i'm not eligible, went to check the dates I paid to ring them and guess what, there was £200 in the account! Rather weird!

JBMontgomery

Has this deal expired? It looks like all the sign-up bonus deals are finished - Halifax Reward, Santander Preferred, etc.

ejv

harz99 wrote: »

When I rang the switching team yesterday, I initially got told I didn't qualify because I had not made a payment in January - the lady was using your logic - after pointing out that I had complied with the terms by making the payments under the calender month system, a chat with her manager confirmed that to be the case.

Could someone enlighten me regarding this monthly remittance, as I've been told by the switching team that I'm not eligible.

9/11/11 account started with £800
15/11/11 switching complete
2/12/11 £800
2/1/12 £800
27/2/12 £800

Though I felt that I've remitted in 4 calendar months since November, they say, in my case it runs from 15th-15th as its my switch date, and the last remittance falls outside "my month"

I'm really cross and is there any place to complain?

amsterdamgroove

They just credited the £200 in my account.
Completion date: 15/11

Payed in at least £800:

10/11 (prior to completion date)
01/12
10/12
20/12
26/01
15/02
26/02

I had some doubts whether I would get the cash, as the first payment was earlier than completion date and no further payments were made in November.

I will keep the account. No problems so far, apart from the medieval system of passwords (name of last school, name of first school...)

good luck to everyone who's eligible and did not get the bonus yet.

amsterdamgroove

ejv wrote: »

Could someone enlighten me regarding this monthly remittance, as I've been told by the switching team that I'm not eligible.

9/11/11 account started with £800
15/11/11 switching complete
2/12/11 £800
2/1/12 £800
27/2/12 £800

Though I felt that I've remitted in 4 calendar months since November, they say, in my case it runs from 15th-15th as its my switch date, and the last remittance falls outside "my month"

I'm really cross and is there any place to complain?

I am sorry to hear this!
As I mentioned before, the legal definition of month is as you quoted. if the completion date is on the 15th of a given month, then the month (legal "month") ends on the 15th (same day) of the following month.
however, I believe that you should ask them to reconsider as you have effectively payed in all "months" following November.

For a legal definiton of month please see:

http://www.betterregulation.gov.uk/ideas/viewidea.cfm?proposalid=5774c8b2910a4f5caf4899fe81b4276f

Good luck