Co-op cashminder account statements

ylesia

Hi

Does anyone know how ofter the co-op are supposed to issue statements for their cashminder accounts?

My mum has one and I just checked and it seems to be anything between 3 weeks and 10 weeks between statements. I can't face phoning as getting my mum through security is torture (we are in the process of getting POA sorted out).

I have checked the terms and conditions and all it says is "regular statements" - can anyone shed any light on the seemingly random nature of when they are sent?

Thanks for any help

The_pc_tech

Is there much regular activity on the account?

in_my_bumble_opinion

If you don't do anything, they don't send statements.

Their online banking works fast and well though, so you can check things there in a flash.

Googleplex

When I opened a Current A/C with the Co Op, I remember them saying a statement would be issued every 25 transactions (I think), instead of at fixed time intervals. I assume that this also applies to the CashMinder.

ylesia

Thanks for the replies.

There is regular activity but mainly direct debits and standing orders rather than card transactions so maybe that's what the issue is.

pqrdef

All my Co-op statements show 25 transactions. This means that transactions on the same day can be split between one statement and the next.

And if you pay money in and take it out on the same day, they will rearrange the order to put debits before credits. Then if the 25 count falls at the wrong point, they will mail out a statement where the bottom line is an alarming-looking "overdraft" that you never had.

pmduk

in_my_bumble_opinion wrote: »

Their online banking works fast and well though, so you can check things there in a flash.

Note that card transaction only appear when fully cleared, unlike many banks, so ensure you make an allowance for these.

ylesia

Thanks again for the replies, I have got to the bottom of what looked at first to be a bit random!:

A statement is being generated once every 3 months but an interim statement is also produced is there are more than 25 transaction within each 3 months! Not sure if my mum elected at some point to receive quarterly statements.

Thanks again