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

fordmanchester

berbastrike wrote: »

Can you do this without really switching, or do you have to close your current, current account.

I wanted to ask this same question, as the Co-Op terms and conditions mention a "full switch" from another provider. Does this imply that your existing current account must be closed? I'd prefer to keep my existing account open for a while if possible, at least for long enough to make certain that there have been no problems with the switch.

noh

fordmanchester wrote: »

I wanted to ask this same question, as the Co-Op terms and conditions mention a "full switch" from another provider. Does this imply that your existing current account must be closed? I'd prefer to keep my existing account open for a while if possible, at least for long enough to make certain that there have been no problems with the switch.

No you don't need to close your existing account.
Your existing account can only be closed by you. The bank you are switching to have no way of knowing whether or not you have done so.

BargainGalore

But it says this on another site

request a full switch from another provider using our dedicated switching service before the incentive is withdrawn

pqrdef

As I read it, the offer also applies to the Standard account as well as the Plus account. With this, you don't get the £200 fee-free overdraft, but you don't have to keep paying in £800 after the first 3 months.

As usual, got surprised by the questions and caught by the timeout and had to start again.

They want to know gross annual income and net monthly income, and monthly council tax. And your main current account (thought this had better be the one I'm switching).

Then they want a password to save your application. Then they say "your email address has already got a different password, Use the same password as before, or a different email address." I haven't got a different email address. And if they know it, it's because I had a credit card a zillion years ago, so like of course I remember my password. At this point I start wondering if this is a good idea. Does nobody check these things for stupidity?

noh

BargainGalore wrote: »

But it says this on another site

request a full switch from another provider using our dedicated switching service before the incentive is withdrawn

A "full switch" as far as I am concerned means you need to switch all the DDs and SO on the accont. It does not mean you have to close your existing accont.

alanq

pqrdef wrote: »

Then they want a password to save your application. Then they say "your email address has already got a different password, Use the same password as before, or a different email address." I haven't got a different email address. And if they know it, it's because I had a credit card a zillion years ago, so like of course I remember my password.

I know that Co-op is rated as one of the better banks for customer service but that has not been my experience. I have had several issues during my very limited dealings with them.

On one occasion I received a phone call saying that my bond was about to mature. a) I had opted not to receive marketing phone calls b) my bond had several months to run. Suspicious I hung up and rang customer support. They asked my for security information that I don't believe I gave them setting up the bond and I had no other accounts. I can only assume that this information was from when I had a Co-op credit card several years earlier. Unsurprisingly I had no recollection of the information and I said so. Nevertheless I had to make a number of unsuccessful guesses at answers. I knew it was pointless as I don't reuse passwords and they are never obvious. I made clear that I was making random guesses which irritated the agent. By the time we got through setting up new security information it was too late for them to contact the local branch to establish whether the call was genuine and I was told to contact the branch myself. The call ended with "Is there any other way I can help you today?" which riled me as the response had been most unhelpful.

michele-p

Thanks OP, I have just applied online. I switched to Santander earlier int he year and got £150, but I'm not impressed with their internet banking, and the slowness of the transfers when I make payments. Both myself and OH will switch to this account, and that will be £400 towards next years holiday, yay!!

adindas

You are very smart my dear ..

michele-p wrote: »

Thanks OP, I have just applied online. I switched to Santander earlier int he year and got £150, but I'm not impressed with their internet banking, and the slowness of the transfers when I make payments. Both myself and OH will switch to this account, and that will be £400 towards next years holiday, yay!!

stuzhunter

noh wrote: »

"5. To qualify you must switch a minimum of 2 Direct Debits and/or standing orders from your current bank account.

."

Its a minimum of 2 Direct Debits and/or standing orders NOT BOTH

so if you have an account with 2 no. dummy standing orders, say £10 every month to 2no. of your savings account..you should still qualify:A

adindas

I think here we need to be careful with "Plus account" if we want to avoid monthly payment of £800. It does say :

"Minimum £800 a month deposit" it does not say after three month this requirement could be avoided.

We still need confirmation from people who went into the process to be 100% sure.

Standard current account does not require a continuous "Minimum £800 a month deposit".

We just need to pay the first three months to get Incentives, if the incentives is paid and we could stop it. So it is defenitely a better way to go if the intention is just to get £200.00.

"All customers - to qualify you must switch a minimum of 2 Direct Debits and/or standing orders from another provider and pay in a minimum of £800 per month for the first 3 months from the date of your completed switch. "



AdINDAS

pqrdef wrote: »

As I read it, the offer also applies to the Standard account as well as the Plus account. With this, you don't get the £200 fee-free overdraft, but you don't have to keep paying in £800 after the first 3 months.

As usual, got surprised by the questions and caught by the timeout and had to start again.

They want to know gross annual income and net monthly income, and monthly council tax. And your main current account (thought this had better be the one I'm switching).

Then they want a password to save your application. Then they say "your email address has already got a different password, Use the same password as before, or a different email address." I haven't got a different email address. And if they know it, it's because I had a credit card a zillion years ago, so like of course I remember my password. At this point I start wondering if this is a good idea. Does nobody check these things for stupidity?