Smile or Coop

Couchwarrior

simple question, was going to open a coop privilege account and noticed Smile do the same account.... So are there any differences or benefits between the 2 ?

grumbler

beansy wrote: »

Smile charge £13 pm but you get 1 additional extra to choose from, ie 2 x free airport lounge passes pp for jt account holders, or gadget insurance. But you don't get a very good interest rate on your money in the bank!

I think their sister company, Coop bank is cheaper but you don't get the same package.

..............

Couchwarrior

Both accounts are the same price £13 and benefits from what I can see are the same

SammenForLivet2

I would wait until the Nationwide FlexPlus account - if you are wanting the insurances - if you are wanting the free overdraft - then Smile or CO-Operative Bank.

Smile and the CO-Op have basically integrated everything - bar you can secure message Smile but can't (yet) with CO-OP, yet I find the CO-OP's banking fresher (ever so slightly) although they are very, very primitive/ outdated.

Other than that, you get Paper Statements with CO-Operative, which is good for proving ID.

Couchwarrior

insurances and RAC is what I wanted, but if smilemore isn't available any more my decision is made for me, still on the website though I assumed you just got a smile account then upgraded
Only other difference I could see unless I missed it, is there doesn't seem to be an insistence on a minimum monthly wage into the smile account.

Anthorn

The smilemore current account is only available as an upgrade to existing current account holders. The main difference is that smile are more generous with their fee free for 12 months overdraft limit. The other difference is that smile is all online so you get online statements but you can get a paper statement for 2.50p each up to 12 months old and £10 each over 12 months old.

I found opening the smile current account easy: All online, initial decision 2 minutes, final decision with sort code and account number next working day, account open for login and deposits two working days, VISA debit card, cheque book / paying-in slips, PIN spaced out over 8 working days. No minimum funding limit but salary or pension has to be directly paid in regularly.

btw if you're opening a co-op or smile account it pays to also get co-op membership to get points for bank accounts and funding with at least £800 a month. It all adds up.

BugsyBrowne

Remember though Co Op's online banking is fine if you're just wanting a balance or move payments but if you're wanting online banking offers or wanting to increase your overdraft or get loan quotes etc's then this is not for you.
CoOp's online banking is like they are the first ones to give online banking a trial run and we live in the 80's

Couchwarrior

Yeah lol I have used coop before, my wife has a basic account with them and the online banking is like windows 95 It does what I need though. I think I will have to call Smile to double check if smilemore is for existing account holders only. Don't want to open a smile account and find out I cant upgrade it
But for now I will wait to see what the Nationwide offer is.

Anthorn

Couchwarrior wrote: »

Yeah lol I have used coop before, my wife has a basic account with them and the online banking is like windows 95 It does what I need though. I think I will have to call Smile to double check if smilemore is for existing account holders only. Don't want to open a smile account and find out I cant upgrade it
But for now I will wait to see what the Nationwide offer is.

"smilemore is available as an upgrade for existing smile current account holders only. If you would like to upgrade your account please contact us on 0845 789 6809^ to arrange a callback."
http://www.smile.co.uk/currentaccounts/smilemore-current-account

thenudeone

If all the other terms are the same I'd recommend the co-op one, because you can still get printed bank statements, which might be necessary if you ever want a mortgage or re-mortgage. If you want printed bank statements from smile, they will charge for each one.