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

adindas

Oopps just have a look. Based on the wording it should be like that.
Whether this is what they actually mean or ithis is just a glitch but they will honour it, we need to hear from people experience. Other Bank will normally require switching to be at least 2DDs AND 2SOs.

Last year I opened one of their privilage a/c to get free insurance but I just managed to close this a/c a few weeks ago. I fully hope they will not be able to trace this and hoping to get another £200.00 as additional pocket money for my next holiday.

stuzhunter wrote: »

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

horngkai

For accounts such as this that requires one to bank in a certain amount of money per month, does that means you will need to have a salary enough to do so or would they be happy for you to apply if your money is not coming solely from salary only?

CharlieBilly

So in order to switch you need a bank account that has at least 2 direct debts or standing orders

From pdf from there web site


Complete the ‘Switching Form’ opposite, sign it and return it to us. Once we receive your
switching form we will contact your previous bank and ask them for a full list of your Direct
Debits and standing orders. Keep the 'Credit Redirection Notification form' safe as you'll need
this later in the process.

Gromitt

"Minimum £800 a month deposit". Thats it. So as long as you can deposit that much a month (from anywhere, savings account if you wish), you should be OK. However, they do ask for your salary, so they may refuse to open the Plus account if your salary is less than the requirement.

noh

horngkai wrote: »

For accounts such as this that requires one to bank in a certain amount of money per month, does that means you will need to have a salary enough to do so or would they be happy for you to apply if your money is not coming solely from salary only?

Doesn't need to be salary. You can transfer money in from other external sources.

watcher1

I believe that it is clear:

Use the Co-operative Switching service to move all your DDs and SOs from your account with another bank, credit the account with at least £800 for the following 3 months... and voila... £200 cashback.

This means that you need to have 2 DDs OR SOs in the account that you are switching from, as all the DDs and SOs will be moved.

You do not need to close your existing account and you do not need to pay the £800 just from your salary, just so long as it is £800 or over.

sjgore

Well I applied for this at about 10am this morning, and got an "application accepted" e-mail about 1pm. I applied through NHS Discounts to get £225 in total.

E-mail said paperwork will be received in "the next few days".

I do not intend to close my existing bank account, so we'll see how it goes. Experience of switching previously is that you get a pre-written pre-printed form to send to your old bank, but the new bank have no way of knowing whether you use it or not.

sugarcube84

Ive just applied for this im going to transfer all my d/d's and s/o's and transfer a lump sum each month to cover all my bills. It should hopefuly help me budget a little bit better and help deal with my overdraft.

I will let everyone know how i get on with the switching process.

adindas

You defenitely do not need to close your old a/c. Switching have been going on for ages and there is not any case that you have to close your old account.

sjgore wrote: »

Well I applied for this at about 10am this morning, and got an "application accepted" e-mail about 1pm. I applied through NHS Discounts to get £225 in total.

E-mail said paperwork will be received in "the next few days".

I do not intend to close my existing bank account, so we'll see how it goes. Experience of switching previously is that you get a pre-written pre-printed form to send to your old bank, but the new bank have no way of knowing whether you use it or not.

hethmar

Id like to take advantage but Im a bit wary of closing a long standing bank account - which is what Id be doing if I switch isnt it? I still have 3 Lloyds vantage accounts on the go, one of which is a main account. Not sure if it would get a bit messy