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

insurgente

hmmm, a look at this thread and it seems this deal won't go as smoothly as i'd hoped

I signed up online, sent my documents off but got a text to say they werent good enough. So I went in to a branch on saturday and handed them over (place was very busy, seemed like a lot of people had the same idea)

The lady asked me if I wanted to switch my DDs there and then...for some reason I bottled it and said I didnt have my account number on me , as I wanted to read more about the deal online and what I had to do. (Now it seems I only need to transfer 2 DDs, not close my other account ,and not transfer my salary...not bad). The lady told me I could do that over the phone

Just rang them and apparently the switching can only be done in branch now ...shame, I shouldnt have wussed out. Hope this £200 is still doable if I can find time on my lunch break

YorkshireBoy

insurgente wrote: »

(Now it seems I only need to transfer 2 DDs...)

You need to transfer all DDs and SOs (minimum 2, any combination) from your other account to qualify for the £200 incentive.

If you only have two DDs on the other account, and no SOs, then please ignore the above.

Gromitt

But those DDs can take 7 - 10 days to setup, so unlikely to be in place by the time the DD list is requested by co-op.

adindas

Is it a good advice to allow the gambling site to set up the DDs. ??
The problem with the DD is that the a/c hodler is not in full control such as those with SO ?

cathrinkate963 wrote: »

If your into gambling that can be placed rattling apace and easily. Sites same NationalLottery and HealthLottery both reckon you to romp via DD. Once the DD is falsehood you can shift it to screw advantage of the handle, and then when you've got your £200, equilibrate the DDs.

Gromitt

You still have the DD guarantee, so if they take without your permission, you can always request it back.

insurgente

YorkshireBoy wrote: »

You need to transfer all DDs and SOs (minimum 2, any combination) from your other account to qualify for the £200 incentive.

If you only have two DDs on the other account, and no SOs, then please ignore the above.

oh really? i didnt realise this... I thought it was just at least 2... hmm, becoming more and more hassle... I'm tempted to leave it

chexum

adindas wrote: »

Is it a good advice to allow the gambling site to set up the DDs. ??

Hmm.. Of all the gambling sites, I would have thought national lottery would be legit :cool:

Actually all originators using direct debit should be under strict control, and must adhere to the direct debit guarantee at all times. Although it seems the minimum frequency you need to play is one a week, which is £4 or £5 a month for the direct debit (depending on the number of draws in that particular month). It's certainly not moneysaving! But if a single direct debit is what prevents you from getting £200, then you could leave it on for 1-2 months, I suppose.

(I'm not sure where the original post disappeared, though it was a bit interestingly worded, like a machine translator? In all fairness, I shouldn't be the first to complain about others' language )

Also, addressing Gromitt's comment - don't confuse the time to actually set up the direct debit(1), from the time when it can be effective(2), and from the time when it's actually used(3).

(1) The last time I used it, I asked national lottery to set up the DD on a Monday night - they sent me an email the morning after at 6AM that it's confirmed.

(2) They should give you about 10 days notice if they want to vary the amount taken, so in theory, it cannot be used within 10 days at all, but it doesn't mean the DD is not yet set up

(3) some (most?) banks don't show a direct debit unless it's used already, so it could look like the process is very slow, which is quite far from the truth

And finally, completing the switching form does not mean they are going to start the procedure the same instant, so it's entirely possible that setting up a new DD and completing the form the same day you can get even the new DD switched...

YorkshireBoy

chexum wrote: »

(3) some (most?) banks don't show a direct debit unless it's used already...

Really? Of all my current account providers over the last few years, the only one I remember operating as you say was HSBC (and so possibly FD(?), who I also had an account with but had no DDs set up).

DragonQ

Well it's been a week and a half and still heard nothing. The Co-Op apparently sent out my welcome stuff again last Thursday and said to call again if it doesn't arrive by Wednesday. Hopefully it'll turn up cos I have no branches anywhere near me.

adindas

Another possibilities, e.g.

- to take Monthly contract with Talk Direct, they do £1 a month for 25 Minutes + 40 text (?)
- Also Vectone Mobile do similar thing for £1 a month for 30 Minutes + 40 text (?)

I have both sort of these contracts in which I recently moved it from my other a/c.s This contract is on monthly rolling basis, which you could teminate anytime with one month notice. Some poeple mention about DDs with Newpaper subscription, etc.

But again people who want to do this have to be aware whether there is still enough time to do this before the offer is withdrawn or until they actually ask to transfer the DDs and SOs.

Just hope people will be in a better position to argue, nad have a stonger case as people will now have 2DDs and 2SOs set up on the a/c. Indeed, the website say at least 2DDs AND/OR 2SOs, so in the theory 2SOs shall be sufficient. In addition, co-op also has a good customer rservice and try to maintain a good relationship with customers. But we will never know what they might do in three months time if there are so many incentives that need to be paid. Are they going to find an excuse ? Hopefully not, let wait and see ....

chexum wrote: »

Hmm.. Of all the gambling sites, I would have thought national lottery would be legit :cool:

Actually all originators using direct debit should be under strict control, and must adhere to the direct debit guarantee at all times. Although it seems the minimum frequency you need to play is one a week, which is £4 or £5 a month for the direct debit (depending on the number of draws in that particular month). It's certainly not moneysaving! But if a single direct debit is what prevents you from getting £200, then you could leave it on for 1-2 months, I suppose.

(I'm not sure where the original post disappeared, though it was a bit interestingly worded, like a machine translator? In all fairness, I shouldn't be the first to complain about others' language )

Also, addressing Gromitt's comment - don't confuse the time to actually set up the direct debit(1), from the time when it can be effective(2), and from the time when it's actually used(3).

(1) The last time I used it, I asked national lottery to set up the DD on a Monday night - they sent me an email the morning after at 6AM that it's confirmed.

(2) They should give you about 10 days notice if they want to vary the amount taken, so in theory, it cannot be used within 10 days at all, but it doesn't mean the DD is not yet set up

(3) some (most?) banks don't show a direct debit unless it's used already, so it could look like the process is very slow, which is quite far from the truth

And finally, completing the switching form does not mean they are going to start the procedure the same instant, so it's entirely possible that setting up a new DD and completing the form the same day you can get even the new DD switched...