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

noh

ejv wrote: »

How could you shift the DDs to the spare account? Is it easy?(sorry...a novice).Don't we have to contact the beneficiary(eg:Vodafone) for that, which I suppose would take few days and by then this offer could be withdrawn.That's why I thought of setting 2 SO to mine and spouse's main accounts and grab the offer.

I made the requests to shift the DDs on Monday, the same day as I applied for the Co-Op account.
One has already appeared on my "spare account" I expect the other two to appear in the next couple of days.
You can't complete the switching form (unless you apply by telephone) until you know the details of your new account. I have had the acceptance email, when I receive account details I will complete the switching form online, by then there should be 3 DDs set up on my spare account. Just in case I have set up a couple of SO too.

stutakesphotos

Applied Monday evening and only had the acknowledgement email. mmm

chambta

I personally amended the d/ds for my TV licence and home insurance on Monday.

They'll be set up in good time on my 'spare' account to be transferred to the new account.

jakesuk

I wonder what happens if you try to switch from an account which only has 2 DD's and Co-op request that both get switched over but one fails to switch successfully.

Does this jeopardise the incentive offer?

Seems harsh if it does as you instructed them to transfer your main account which has 2 DDs

Stantheman

I applied online but didnt click the "I have a current account" button so subsequently didnt get to put my bank account details in. Do you think it will matter? Will I still get a chance to switch? I suppose its just a case of a phone call right?

adindas

I think so. They are there to get the customer as many as possible.
But when you call them I believe you will still need to have an old account to switch to Co-op in the hope to get incentive.

Stantheman wrote: »

I applied online but didnt click the "I have a current account" button so subsequently didnt get to put my bank account details in. Do you think it will matter? Will I still get a chance to switch? I suppose its just a case of a phone call right?

mrchagle

Stantheman wrote: »

I applied online but didnt click the "I have a current account" button so subsequently didnt get to put my bank account details in. Do you think it will matter? Will I still get a chance to switch? I suppose its just a case of a phone call right?

I did that too! I called them and they had to put my switch details into their switch database and also had to manually enter their promotional code for the £200 - dead easy and they can do it over the phone.

sms_sms

I am living abroad for a few months, is there any paperwork that needs doing or is it all online?

princessfufu

I applied on Monday and got an acceptance email on Tuesday. Today I got a call from the local HQ of the co-op bank offering to do all the leg work for the 'switch' for me. I was delighted to hear that I now have a local landline number to contact a bank!! The man was very helpful. I confirmed that I did not need to close my current 'current account' and that he would transfer my DD over for me to my new co-op account. He asked me if I intended to pay in £800 a month as there was an incentive deal around (really say me!!). I am delighted to transfer all my DD as I hate my current bank. By the way I do not work or have an income and have still been accepted. HTH x

deutsch

athcnv wrote: »

I see on the Co-Op bank site there are 4 options. The top 2 have a monthly subscription cost, so they are out.

This leaves the "Current Account Plus" and the "Standard Current Account".

As far as I can tell, although the "pay £800 per month for 3 months and get the £200 cashback" applies to both of these, the details for "Current Account Plus" seem to state "Minimum £800 a month deposit", which seems to imply that after you get the cashback, YOU STILL NEED to put in £800 a month! I tried phoning Co-Op bank on 08000 287 287, and the guy seemed to confirm the above (actually, he said it need to be funded for a whole year).

This would be ok if in a job, but I'm not. So, my plan is to open the "Standard Current Account", shift over my standard orders/direct debits, fund it £800 per month for 3 months, get the cashback and then stop funding it, since the "Standard Current Account" doesn't seem to have its own monthly funding requirement.

Which current account did everyone else do? One thing is that Martin's newsletter actually links straight to the "Current Account Plus" page, not the "pick which of the 4 current accounts you want" page.

For the Current Plus account there is no need to fund £800 for the rest of the months (after you get the £200)
The account will just get converted from current plus to standard.

Below are from the T&Cs

---

Current Account Plus
1. To open and have a Current Account Plus you must be 18 or over, 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).
2. The Current Account Plus has additional overdraft services, please refer to
the account charges leaflet for details.
3. The additional overdraft services are subject to variation in accordance with
condition 21 of the Current Account terms and conditions above.
4. You can at any time ask us to convert your Current Account Plus.
We can convert your Current Account Plus to a standard Current Account,
a Privilege current account or a Privilege Premier current account in
which case these terms and conditions 1 to 4 and the additional overdraft
services will no longer apply and the terms and conditions which will apply
will be sent to you on conversion.

So I wouldn't worry whether it's Current Plus or Standard or whether you went through it Martin's MSE link. Just beware of the overdraft and differences that might benefit or not benefit you if you do decide to choose between the two.