switching from Barclays to Coop advice and tips

DrSyn

1.There is no problem about branch access. If there is no Co-op branch nearby, you can withdraw and deposit money, as well as check the balance in your account at your local Post Office.If you time it right as I do you can walk in & out very quickly as there is no que. I do every week.


2. The Co-op bank normally comes second to First Direct in the "Which" customer satisfaction surveys. Have a look at the "Which Money" web site. Also on this site the Co-op is well regarded.


3. If you become a memeber of the "Co-op" as well as openening an account, you can get a " Co-op members credit card" which gives you cash back on the spend.

4. I find their faster payments work OK. I understand that all banks in the UK have an "upper limit" above which they will not use faster payments ( this level depends on the bank used).

geography_rules

InsideInsurance wrote: »

How are you defining ethical? Are you just talking about how they operate on a day to day basis or also what types of companies they'll invest in etc?

I recently choose Coop over Barclays after hating&still banking with Barclays over some years. The reason was ethics. But I am disappointed that Coop's new Head Guy is the former HSBC who are not famous for their good politics. It is additionally irritating that the new chairman Pym stated that "the group's ethical stance towards banking would remain a key marketing element." Marketing element? One agrees with Bankhater 1965.

InsideInsurance wrote: »

As to how to switch.... open new account, complete switching form. Switching is managed by the BACS company for all banks so it doesnt matter who your new or old bank is the same service applies.

My switch is not going well either, I don't know which end to blame. I got in touch with Coop in mid March to open an account and to switch. This is mid June and my money is still left in Barclays although all my DDs are with Coop now! Who to blame, Barclays, Coop or BACS? Can you advice?

Many thanks.

innovate

geography_rules wrote: »

Who to blame, Barclays, Coop or BACS? Can you advice?

I think you need to blame yourself, for not informing yourself properly about the switching service. The switching doesn't include moving your money, or closing down your old account. They just move your DDs and SOs.

http://www.co-operativebank.co.uk/currentaccounts/switch-to-us

It's down to you to get any incoming money (salary, benefits, pension etc) re-directed to your new account. It's also up to you to transfer any remaining balance.

Sparx

geography_rules wrote: »

My switch is not going well either, I don't know which end to blame. I got in touch with Coop in mid March to open an account and to switch. This is mid June and my money is still left in Barclays although all my DDs are with Coop now! Who to blame, Barclays, Coop or BACS? Can you advice?

Many thanks.

Blame yourself! The switching process does not include funds currently in the account. You need to move them yourself.. :T

geography_rules

innovate wrote: »

I think you need to blame yourself, for not informing yourself properly about the switching service. The switching doesn't include moving your money, or closing down your old account. They just move your DDs and SOs.


It's down to you to get any incoming money (salary, benefits, pension etc) re-directed to your new account. It's also up to you to transfer any remaining balance.

Thanks Sparx and Innovate. I don't think I have misinformed myself. I was aware of the link you have sent:
a) It does not mention anywhere that the customer should move the remaining balance. Did I miss it?
b) I had contacted my employer and transferred my salary alright.
c) I had sent the relevant closure form to Barclays ages ago.
b) I rang the Coop Customer Service yesterday, explained the situation, they apologised and said they will contact Barclays once again, and Barclays is at fault. I was not told I omitted anything.

So my question remains.

mgdavid

geography_rules wrote: »

........they apologised and said they will contact Barclays once again, and Barclays is at fault. I was not told I omitted anything.

So my question remains.

no it doesn't, you've given the answer above.
But IMO it is still your reponsibility to move balances.

mgdavid

martley wrote: »

.......
I went into the local high street Co Op bank and was offered a review of my banking needs there and then. ........ I was given:

1. A switch to a co-op account with a 2,500 overdraft facility.
2. The co-op members credit card offering cashback with a £6,000 limit.
3. Advice on all accounts and opted for the Privilege account at £9.50 a month, ........

wow, and you still think they are doing you a favour? Clever old bank staff! Hardly MSE is it though!

UnderPressure

OP 3 words:

DON'T DO IT!!!

Lansdowne

geography_rules wrote: »

Thanks Sparx and Innovate. I don't think I have misinformed myself. I was aware of the link you have sent:
a) It does not mention anywhere that the customer should move the remaining balance. Did I miss it?
b) I had contacted my employer and transferred my salary alright.
c) I had sent the relevant closure form to Barclays ages ago.
b) I rang the Coop Customer Service yesterday, explained the situation, they apologised and said they will contact Barclays once again, and Barclays is at fault. I was not told I omitted anything.
So my question remains.

"The relevant closure form" sounds like a form to close the Barclays account which presumably includes telling them where to send the remaining balance. So it does seem that Barclays is at fault (or maybe there is a timescale for this to be implemented that has not yet expired.)