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

stuzhunter

I switched aroud mid november..3no. £800 payments have already gone and have been told this week £200 should be paid in February.. unless Coop bank goes burst!

hillendale

Hi All
I've been paying the £800 pm required each month via faster payment method leaving it my coop account and normally transferring back to my Halifax account the same day. Having just completed my 3rd £800
payment and hoping to receive the £200 next month.
Wanted to ask if others are -
1.transferring in & out the £800 topup required in the same day.
2.Closing the coop account as soon as the £200 is bagged.
Also do COOP apply a charge if you don't use the account but keep it open say with a £1 balance, would there be any benefit to keeping the account active after bonus has been received other than for a future ' mule switch ' account maybe.

YorkshireBoy

hillendale wrote: »

Wanted to ask if others are -
1.transferring in & out the £800 topup required in the same day.
2.Closing the coop account as soon as the £200 is bagged.

1. I shift mine back the next day (ever cautious!).

2. Yes (with 13 current accounts I already have enough donor accounts ready for when the next offer comes along!).

Also do COOP apply a charge if you don't use the account but keep it open say with a £1 balance

No.

would there be any benefit to keeping the account active after bonus has been received other than for a future ' mule switch ' account maybe.

Not that I'm aware of.

10_66

hillendale wrote: »

1.transferring in & out the £800 topup required in the same day.

Yes

hillendale wrote: »

2.Closing the coop account as soon as the £200 is bagged.

Yes

hillendale wrote: »

Also do COOP apply a charge if you don't use the account but keep it open say with a £1 balance, would there be any benefit to keeping the account active after bonus has been received other than for a future ' mule switch ' account maybe.

I don't think there's a charge, but not sure. I'm definitely closing so that if they offer the £200 switch in the future (or similar, which they've done in the past), I'll go for it again.

jellyhead

I agreed to a small overdraft (don't know why?!) so there is a £20 annual fee for that. I'll have to remember to cancel it.

I hate the co-op online banking

hillendale

Has anyone received the £200 coop bonus yet ?
Just recently transferred my 3rd £800 payment and would be interested to know bonus payment time lines from others.
Thanks

10_66

hillendale wrote: »

Has anyone received the £200 coop bonus yet ?...

Not yet. I made my 3rd payment just over a week ago. Post #784 said they were told to expect it around February.

Doc_N

10_66 wrote: »

I don't think there's a charge, but not sure. I'm definitely closing so that if they offer the £200 switch in the future (or similar, which they've done in the past), I'll go for it again.

If you don't carry on with the £800 pm payments all that happens is that the account gets converted to a standard Current Account - no monthly charge:

Current Account Plus
1. To open and have a Current Account Plus you must be 18 or over, a UK resident and pay a minimum monthly credit of £800 into your account
(if you do not your account may be converted to a standard
Current Account).
2. The Current Account Plus has additional overdraft services, please refer to the account charges leaflet for details.
3. The additional overdraft services are subject to variation in accordance with condition 21 of the Current Account terms and conditions above.
4. You can at any time ask us to convert your Current Account Plus.
We can convert your Current Account Plus to a standard Current Account, a Privilege current account or a Privilege Premier current account in which case these terms and conditions 1 to 4 and the additional overdraft services will no longer apply and the terms and conditions which will apply will be sent to you on conversion.

harz99

Third payment done so soon be time for my £200, for something I was going to do anyway to get away from Santander!:beer:

Keith

As above, I just did my third payment, can't wait to escape now. The online service is horrible.

Back to Nationwide for me