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

insurgente

did people get a text when the DD switching had been completed?

I got a letter saying it would all be done by December 5th, but I haven't had a text yet (I signed up for the texting service). Not sure if should start sending £800 over yet.... So I can take the £800 out the next day? Good as I need to pay my rent!

Jealous of those with a £500 overdraft, but £200 will work for me I guess

skaterboy

Hi,

I have my account all set up, but I feel their online banking and other facilities are a little behind the times. It lack the details and features that I took for granted with my previus banks online service

As with all banks Faster Payments with the Co-op its a little hit and miss.

It seems that the first payment you make to a person, goes over the three days BACS service, and then once one payment has been made, all other payments go via faster Payments, very strange.

Also when someone pays me, or I transfer money, the balance on the Co-op account takes virtually a full day to update. Both Nationalwide and Santander (previous banks) updated within minutes.

Also I not able to cancel some now unused Direct Debits that have been moved across, says there is an error.

But as they are paying me £200 to move to them I guess I can cope with it short term, and time will tell if I really needed the clarity and details I was used to.

Cheers

Millionaire

skaterboy wrote: »

Hi,

As with all banks Faster Payments with the Co-op its a little hit and miss.

It seems that the first payment you make to a person, goes over the three days BACS service, and then once one payment has been made, all other payments go via faster Payments, very strange.


Cheers

Mine went through straight away. Looks like it is hit and miss.

Frogletina

skaterboy wrote: »

As with all banks Faster Payments with the Co-op its a little hit and miss.

It seems that the first payment you make to a person, goes over the three days BACS service, and then once one payment has been made, all other payments go via faster Payments, very strange.

Also when someone pays me, or I transfer money, the balance on the Co-op account takes virtually a full day to update.

I have had some payments go out by faster payments, and two went as next day (code E)

One payment showed as arriving at my other bank almost immediately, but took two days to be taken off my co-op balance

As for payments coming in - last night I transferred £55 into the co-op, and it showed after a few minutes, and then it disappeared again. Later is showed up again on the account.

If this was my main account, I think I would have to keep very careful records.

Doc_N

Frogletina wrote: »

I have had some payments go out by faster payments, and two went as next day (code E)

One payment showed as arriving at my other bank almost immediately, but took two days to be taken off my co-op balance

As for payments coming in - last night I transferred £55 into the co-op, and it showed after a few minutes, and then it disappeared again. Later is showed up again on the account.

If this was my main account, I think I would have to keep very careful records.

Same sort of issues. I was prepared to give them a chance, but too unreliable for me. So it's pocket the £200 in due course, and stick with First Direct - boring, but totally reliable.

Gromitt

Same here, I switched a dormant Barclays account and I'm glad I did. I'll be sticking with First Direct for my main account.

ses6jwg

I arranged for 2 standing orders to be transferred from Nationwide for 1p and 2p respectively going to my Santander account. I set them up for different days and they still have not been transferred 4 weeks later.

I'll be closing my account I think. Can;t be bothered now.

Shark

Does anyone know if the £800 in each month is per calender month or for each 30 day period since account was opened?

My main frustration with this account so far is having to use the post office to deposit cash, which usually involves a 20 minute queue in my town.

YorkshireBoy

Shark wrote: »

Does anyone know if the £800 in each month is per calender month or for each 30 day period since account was opened?

Neither! It's from the date they tell you the switch was completed until the day before this date the following month. For example, my switch was completed on 28th November, so my 'funding month' runs from the 28th to the 27th of the following month.

My main frustration with this account so far is having to use the post office to deposit cash, which usually involves a 20 minute queue in my town.

There's no queue with online banking. You should try it.

samwsmith1

YorkshireBoy wrote: »

Neither! It's from the date they tell you the switch was completed until the day before this date the following month. For example, my switch was completed on 28th November, so my 'funding month' runs from the 28th to the 27th of the following month.There's no queue with online banking. You should try it.

Apart from you can't push £20 notes into online banking and deposit them!