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

lindseyb_2

No bonus yet so I rung Co op. He said month runs from when you first paid in £800 but that didn't seem true.

Pulled out confirmation letter and this is what it says - All payments should be transferred by 15/11/2011. As a thank you for taking up our switching offer and to show our appreciation.......To benefit you must pay in at least £800 into your account every month for three months following the date given above. If you do this, in the fourth month we will be happy to.....

So month 1 16/11/11 - 15/12/11
Month 2 16/12/11 - 15/1/12
Month 3 16/1/12 - 15/2/12
Month 4 16/2/12 - 15/3/12

Reading this do you agree with dates and as long as £800 went in each 'month' I should be paid by 15th March?

starM

lindseyb wrote: »

No bonus yet so I rung Co op. He said month runs from when you first paid in £800 but that didn't seem true.

Pulled out confirmation letter and this is what it says - All payments should be transferred by 15/11/2011. As a thank you for taking up our switching offer and to show our appreciation.......To benefit you must pay in at least £800 into your account every month for three months following the date given above. If you do this, in the fourth month we will be happy to.....

So month 1 16/11/11 - 15/12/11
Month 2 16/12/11 - 15/1/12
Month 3 16/1/12 - 15/2/12
Month 4 16/2/12 - 15/3/12

Reading this do you agree with dates and as long as £800 went in each 'month' I should be paid by 15th March?

That's the way I look at it aswel. I have not paid on a exact date of every month but between date after my switching completion date.

10_66

lindseyb wrote: »

No bonus yet so I rung Co op. He said month runs from when you first paid in £800 but that didn't seem true.

Pulled out confirmation letter and this is what it says - All payments should be transferred by 15/11/2011. As a thank you for taking up our switching offer and to show our appreciation.......To benefit you must pay in at least £800 into your account every month for three months following the date given above. If you do this, in the fourth month we will be happy to.....

So month 1 16/11/11 - 15/12/11
Month 2 16/12/11 - 15/1/12
Month 3 16/1/12 - 15/2/12
Month 4 16/2/12 - 15/3/12

Reading this do you agree with dates and as long as £800 went in each 'month' I should be paid by 15th March?

It's difficult to see how they're deciding to make the payments, because some of the posters who have received their bonus have completion dates later than mine was, and I haven't had the bonus payment yet either.

MrsWassire

I applied on 18th October but switch wasn't complete until about the 5th December (hubby is American so we had to fill out further forms etc after initial application). I'm sure I got a letter saying that the payment would be in April if we paid in the minimum. O/D is set to reduce on 1st March.

Millionaire

Still no payment here, Applied around 19th October but Date given by Coop was 18/11 to pay money in after.

amsterdamgroove

10_66 wrote: »

It's difficult to see how they're deciding to make the payments, because some of the posters who have received their bonus have completion dates later than mine was, and I haven't had the bonus payment yet either.

Same here. Is there any legal difference between "calendar month" or just "month". I interpreted "month" as a period of 30 days from a given starting date.

In any case, I don't think that they will refuse payments on technicalities of this sort. If they believe that incentives are an effective way to attract new customers, surely the opposite is also true.

andrewmp

I called them, they said as my account was set up in October, I will get the payment by the end of this month. Not long to go...

R34GTT

I assume it must be done on calendar months, as otherwise it would prevent people who get paid earlier in December for Christmas from qualifying (say for example they actually got their salary paid in to Co-op directly).

For example my switch completion date was 14/11/11.

I transferred in £800 on the following dates:
23/11/11
16/12/11 (Got paid a week early so made the transfer early too).
23/01/12
23/02/12

If it was months running from your first payment then in my case I missed the month 23/12/11-22/01/12.

I will call and enquire if I don't receive the £200 by the end of Feb.

patchwork_cat

Well I hope it wasn't calendar month as my completion date was 24 november it didn't give much time to get the payment in for each month.

10_66

patchwork_cat wrote: »

Well I hope it wasn't calendar month as my completion date was 24 november it didn't give much time to get the payment in for each month.

I took it to mean anniversary month (ie starting from the "completion switching" date given and the same date the next month).