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

dave76

my 3rd 800 will be going in tomorrow. Now its up and running and all my DDs have been sorted I will keep this account open just for the DDs. I dont like the online interface and wouldnt like to use it for day to day stuff but for a bunch of DDs it is good enough (and I dont really want to go through transferring those 8 payments again )

Ricardo3

My third £800 has been through - waiting on the £200 now!

The Co-op current account seems ok really. I've not been to fussed about the online banking interface, it does the job.

Goonie

Who's everyone going to after Co-op? First Direct have £125 at the moment for switching through Moneysupermarket so may give that a whirl

Anyone had any dealings with them?

Gromitt

Been with FD since 1993, never had a problem, no plans to change. Although I do have 5 or so other current accounts

Goonie

5? Haha, so what do you do, just take up each offer that comes along?

Gromitt

Not really.

First Direct is my main account
Nationwide - I have savings with them (and did have a CC too) so the current account was/is handy
Barclays - Wanted them for something years ago, never got round to closing it (think it was an ISA)
Halifax - Have an online saver with them, may as well get free fivers too
Co-op - this offer
HSBC - The plan was to take out a mortgage with them, and a current account was needed to be able to use internet banking. Deal fell through, mortgage got cancelled.

So, make that 6

stuzhunter

Beware Coop charges interest per minute!!. I made a fast payment transfer for £800 to my Coop account and instantly the money was there. The same day I took the £800 payment out. Coop swapped the payment and made sure that the withdrawal went into my account first & charged me interest for few hours.. who said Coop was among the best bank?

notts_phil

stuzhunter wrote: »

Beware Coop charges interest per minute!!. I made a fast payment transfer for £800 to my Coop account and instantly the money was there. The same day I took the £800 payment out. Coop swapped the payment and made sure that the withdrawal went into my account first & charged me interest for few hours.. who said Coop was among the best bank?

Hmmm i am not sure about that.....

How can a bank charge interest by the minute!

Gromitt

stuzhunter wrote: »

I made a fast payment transfer for £800 to my Coop account and instantly the money was there. The same day I took the £800 payment out. Coop swapped the payment and made sure that the withdrawal went into my account first & charged me interest for few hours.. who said Coop was among the best bank?

I've done exactly that a few times and even when my account was overdrawn for 3 days before I noticed, I didn't get charged anything, as expected.

The official line is:
"We will not charge you any informal overdraft service charges or unpaid item charges for informal overdrafts that last six consecutive working days or less (or for any informal overdraft requests that we do not agree) providing that you had not requested an informal overdraft in the previous 366 days."

thegoodman

stuzhunter wrote: »

Beware Coop charges interest per minute!!. I made a fast payment transfer for £800 to my Coop account and instantly the money was there. The same day I took the £800 payment out. Coop swapped the payment and made sure that the withdrawal went into my account first & charged me interest for few hours.. who said Coop was among the best bank?

CoOp is one of the best bank.
It seem you have made a mistake somewhere with the transfer
No bank is charging by the minute. Are you keep going overdrawn with them?
It is possible to make the withdrawal before payment reach your account.