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

Frogletina

Visited my local branch today to try to sort out my error.

Guy on customer service had no idea what would happen, and he said Lloyds would sort it out (they said co-op would sort it) - he spoke to manager, and did take the details and said would watch to see if it bounced back. On the phone, I was told it had gone by bacs, not FP - and that would indicate that it was going to an unknown account. In branch I was told that he couldn't tell what means it had gone by.

I asked if he could delete the incorrect information so that I could not transfer to that account again - he said not possible, would always show in the list of accounts I could transfer to. I said that was ridiculous, he went to his manager again and surprise, surprise, he was then able to delete it.

Then I asked him to amend my standing order - I had tried to do this myself a few days ago, but it had not shown up as done. He then went in to my account as was able to do it immediately, and told me what the date of the standing order was, which was something I still cannot see, although the payment amount has been amended. So far, I am not impressed.

Gromitt

Co-op have now fully transferred (sorry, switched) my SOs and DDs to co-op.

However, I've just had a letter today that seems a little confusing.

"Dear Mr X. You requested a payment to Y. On this occasional we have unable to send your payment using FPS as the Sort Code or Account number are incorrect"

Erm, the payment worked fine before it was transferred to the co-op, so I fail to see how the information is now suddenly incorrect. Secondly, I've looked and the sort code and account number match the ones on my previous banks debit card.

"The payment will be sent using BACS"

Hold on, I thought you said the information was incorrect? If the sort code or account number is incorrect for FPS, then I assume it would also be incorrect for BACS?

I'm confused!

Dr_Cuckoo3

Frogletina wrote: »

On the phone, I was told it had gone by bacs, not FP - and that would indicate that it was going to an unknown account. In branch I was told that he couldn't tell what means it had gone by.

The payment status codes can be found here

http://www.co-operativebank.co.uk/helppages/cbibs/paymentEnquiry/paymentEnquiry2.htm

and via the internet banking customer service menu on the left which shows payments within the last 7 days

("H" is BACS where the sort code does not accept faster payments and "B" is for sort codes accepting faster payments where the payment is not sent using faster payments (eg doubt about the status of the account))

send a 1p payment to the incorrect Lloyds account from another bank (eg the correct Lloyds account) and see if it is returned within a few minutes or the instruction is refused by the sending bank

Frogletina

Dr_Cuckoo3 wrote: »

The payment status codes can be found here

http://www.co-operativebank.co.uk/helppages/cbibs/paymentEnquiry/paymentEnquiry2.htm

and via the internet banking customer service menu on the left which shows payments within the last 7 days

("H" is BACS where the sort code does not accept faster payments and "B" is for sort codes accepting faster payments where the payment is not sent using faster payments (eg doubt about the status of the account))

Thank you for this, perhaps I should refer your message to the guy at my local branch as he said the system only told him that it had been sent.

I have checked and the payments are showing H, whereas the later payment I sent to the correct account shows A and did reach my bank by faster payments

ukdutypaid

gener8or wrote: »

Ive set it to send 1k FP from Santander to co-op on the last working day of the month. Then send 1K FP co-op to Santander on the first working day.
This meets co-op criteria (£800) for £200 and Santander's (1k) to get 5% interest on the Preferred Current Account.

You've set it to SO on the last day of the month, not necessarily FP. Isn't Santander the bank with the lowest FP anyway. 300 quid. It is on my Sant account. I do 3 SO's (300x2+1x200) and they all go as FP. Otherwise it's a 3 day BACS...No?

ukdutypaid

gener8or wrote: »

Ive set it to send 1k FP from Santander to co-op on the last working day of the month. Then send 1K FP co-op to Santander on the first working day.
This meets co-op criteria (£800) for £200 and Santander's (1k) to get 5% interest on the Preferred Current Account.

You've set it to SO on the last day of the month, not necessarily FP. Isn't Santander the bank with the lowest FP anyway. 300 quid. It is on my Sant account. I do 3 SO's (300x2+1x200) and they all go as FP. Otherwise it's a 3 day BACS...No?

Didn't somebody else say that the Coop hadn't had their transferring bank SOs stopped.. Why would they? You have to do that, unless you've provided instructions to close yoru account. It's the same with DD's, the Coop don't do anything other than set the sort/acc number and the instruction up, it's for the asking organisation to change their records.....In which case it does stay as a DD on teh old account but funds shouldn't be requested from there. In which case YOU cancel that too, or it 'dies' after a year, or so....

gener8or

ukdutypaid wrote: »

You've set it to SO on the last day of the month, not necessarily FP. Isn't Santander the bank with the lowest FP anyway. 300 quid. It is on my Sant account. I do 3 SO's (300x2+1x200) and they all go as FP. Otherwise it's a 3 day BACS...No?

SO's upto 10K go by faster payments with Santander after the 1st which goes by BACS.

darkvader

Finally the account has been setup, cards and card reader in hand and even checked the SOs which are in place. However, I used SOs in my Natwest account for the move and on checking today, though the SOs are setup in Co-op, they still exist in Natwest, has this happened to anyone on here?

I did select the option of 'dont close my bank account' on the switch form but I thought when the SOs are 'moved' from Natwest to Coop, they are actually moved and should no longer be there on my Natwest account - the sums are just £10 each so not a bother but it is weird.

Also - I am not clear on rule of paying £800 into my account monthly.
1. Account opened on Nov 11th with online access - I transferred £800 that day
2. The SO switch completed on 22nd and I received a letter on 24th stating from this date forward, I need to put in £800 every month to qualify for the £200. So does this mean the transaction on 11th was void? I moved the money out and put it back in today just to avoid confusion.
3. Coming back to paying £800 for 3 months, is this the calendar month? Am I right in assuming I should now move £800 only in Dec (not Nov 30th when I get paid) and Jan to qualify for the £200 in Feb 12?

Thanks
DV

10_66

darkvader wrote: »

Finally the account has been setup, cards and card reader in hand and even checked the SOs which are in place. However, I used SOs in my Natwest account for the move and on checking today, though the SOs are setup in Co-op, they still exist in Natwest, has this happened to anyone on here?

I did select the option of 'dont close my bank account' on the switch form but I thought when the SOs are 'moved' from Natwest to Coop, they are actually moved and should no longer be there on my Natwest account - the sums are just £10 each so not a bother but it is weird.

Yes, my standing orders remained in my N'wide account and I had to cancel them myself. Not a bother really as they were only for £5 to another of my accounts and had only been set up for the "transfer". It doesn't make any difference if you had selected the option to close the account, as OH did this (accidentally) and the so's stayed in that account as well. Fortunately, the N'wide account wasn't closed as co-op only send a form to you which you're supposed to send to your "old" bank for closure, so this just went in the bin.

darkvader wrote: »

Also - I am not clear on rule of paying £800 into my account monthly.
1. Account opened on Nov 11th with online access - I transferred £800 that day
2. The SO switch completed on 22nd and I received a letter on 24th stating from this date forward, I need to put in £800 every month to qualify for the £200. So does this mean the transaction on 11th was void? I moved the money out and put it back in today just to avoid confusion.
3. Coming back to paying £800 for 3 months, is this the calendar month? Am I right in assuming I should now move £800 only in Dec (not Nov 30th when I get paid) and Jan to qualify for the £200 in Feb 12?

You should have had a letter from co-op telling you what the "completion of transfer date" is. For example, if they'd told you that your actual completion of transfer date was the 22 November (which I think is what you say above), then you would have to make sure that you transferred the £800 between the 22 November and the 22 December, then 22 Dec to 22 Jan etc. I don't think the initial £800 paid in prior to the completion of transfer date will count for anything, but it won't have hurt either.

harz99

Having been thinking about going back to the Coop, after years with Cahoot which has gone seriously downhill since Santander took them over, the incentive made up my mind.

The switch has progressed slowly due to Santander's tardy responses to the Coop, but we are nearly done - CQ book, card reader, new account, and most of my DDs transferred. DDs being paid and money transfers working okay.

The remaining DDs that did not go over seem to have been an oversight by the Coop (which they admitted), probably a page 2 list or reverse of page not processed. Now waiting for these to appear.

Since I have already had the switch completion letter and date, funding the account with £800 after the date as required, it will be interesting to see if the Coop send another letter with a revised date!