Co-op £100 switch incentive is back

bsms1147

As predicted by people on the forum, Co-Op are from today offering a £100 switch incentive to switch current accounts to them (plus an additional £25 to charity) when you switch 2 direct debits/standing orders and pay in £800 in 31 days.

http://www.co-operativebank.co.uk/currentaccounts/125switch?cid=125switchhomepage

I'm sure many people have an account (cough, FlexDirect) which may be suitable for use.

Edit: Apply from tomorrow (4th feb) to be safe

veryintrigued

How do people read this:

7.2 switch a minimum of two active Direct Debits or Standing Orders; and

Do they read it that the DDs/ SOs have to switched as part of the switch service - or that they can be set up manually afterwards?

Cheers in advance

bsms1147

Switched. The bonus is they can be standing orders which take seconds to set up.

Archi_Bald

Do not apply for the switch before tomorrow

This offer is available for applications to switch your main current account to a qualifying current account using the current account switching service received after 3 February 2014

Though those who do not have an account there yet can apply for the account today. It will take some time for them to open the account, anyway. Once open, you have to call them to apply for the switch (and presumably to get a grilling as to why you want to switch).

Archi_Bald

Chor, this feels like applying for a YB account all over again.

You get this after you filled in an online application.

Thank you for your application for a Current Account Plus.

Where no extra information is required a decision will be sent to you by post or email within 5 working days.

Anyone got any experience with phone applications?

bsms1147

Yeah I clocked that. No experience of phone (or post applications) in the past, seems a bit of an archaic way of doing things, but gotta love a bit of hoop-jumping...

Archi_Bald

Best also to prime yourself with the T&Cs before you call with your switch request. http://www.co-operativebank.co.uk/assets/pdf/bank/currentaccounts/common/banking-terms-and-conditions.pdf?int_cmp=CA_CAP_s-tandc_banking-terms-and-conditions_termsandconditions

There is quite a bit of room for not qualifying, such as they seem to insist that "wage, salary, pension" gets paid into the account. Unless, of course, they don't know the difference between "i.e." and "e.g.", which is a distinct possibility.

1.1 To open an account you must be a UK resident 16 or over and to have an account; you must receive a regular payment (i.e. wage, salary, pension) which you must pay into your account.

Chjaka

The last time I switched an account to the co-op for an introductory bonus it took almost twelve months and a dozen phone calls to get the payout.

Fingers crossed that they've improved.

apt

A lot of Nationwide Flexdirect accounts with 2 standing orders on them will be coming the Co-op's way. I can't see them getting many main/active accounts.

wakeupalarm

Do you think you can qualify for this if you took advantage of this offer a couple of years ago? It says this in the t&c

You can only benefit from this offer once, and joint accounts will only qualify for one payment of £100

innovate

Applied & "approved subject to a few formalities" for a Coop account.