Co-op £100 switch incentive is back

chris9393

How easy is it to switch? I'm currently with Halifax & FlexDirect. Could I just open a new account, move all my Halifax funds into the co-op account.
Send £800 in from my FlexDirect account then set-up 2 standing orders from the co-op account to the FlexDirect then Halifax account?

That way I meet the t&c's with the 2 standing orders and funding the account with £800.

Once I recieve the £100 just close the account or stop using it?

YorkshireBoy

chris9393 wrote: »

How easy is it to switch? I'm currently with Halifax & FlexDirect. Could I just open a new account, move all my Halifax funds into the co-op account.
Send £800 in from my FlexDirect account then set-up 2 standing orders from the co-op account to the FlexDirect then Halifax account?

That way I meet the t&c's with the 2 standing orders and funding the account with £800.

Once I recieve the £100 just close the account or stop using it?

There seems to be some misunderstanding on your part regarding this offer.

Firstly, you have to switch an account that has at least 2 standing orders already set up on it.

And secondly, the account being switched will be closed when the switch completes.

Clearer?

tightfisteddave

quick question and sorry if its been answered elsewhere. bit of a newbie to MSE but these forums have some great info and have really got me thinking.

I've just set up a Halifax reward a/c for the £5/month. It seems like it might be possible to claim a £100 switch offer from both Halifax and Co-op/smile if only I had another bank account to switch to them.

I've read terms and conditions and don't see anything which mentions how long the account you are switching from has to be open for. So my question is Could I just open a Natwest basic account, set up a couple of direct debits or standing orders then apply to Co-op asking them to switch Natwest account. Wait till I get the £100 from co-op then apply to switch Co-op account to Halifax reward?

YorkshireBoy

tightfisteddave wrote: »

So my question is Could I just open a Natwest basic account, set up a couple of direct debits or standing orders then apply to Co-op asking them to switch Natwest account. Wait till I get the £100 from co-op then apply to switch Co-op account to Halifax reward?

Yes, providing both offers are around long enough!

tightfisteddave

Thanks YB. I suppose even if they withdraw either offer I would still have a 'spare' account that I could keep ticking over for the next time any switching offer became available.

cheers

Sponge

How long did it take people to get confimation (or rejection) for the new account?

I applied last Monday and haven't heard from them. (I got one email immediately after applying, acknowledging application.)

Nicki_Sue

Does anyone already bank with Co-op? If so what is the online banking like? My main bank is with Yorkshire Bank but they are closing our branch so it's a good time to look around. I don't use the branch often but it's the icing on the cake as far as YB are concerned so off I go (and if I'm right I can use the Post Office for paying in / withdrawing if absolutely necessary?).
The £100 would be a bonus but I don't want to do a big switch again not long afterward if they are aren't user friendly.

YorkshireBoy

Nicki_Sue wrote: »

Does anyone already bank with Co-op? If so what is the online banking like?

It's nowhere near as good as others I use (and I have a few current accounts!).


You would perhaps be better going with Halifax instead? The same £100 incentive...and £5/month ongoing if you go for their Reward account.

Nicki_Sue

YorkshireBoy wrote: »

It's nowhere near as good as others I use (and I have a few current accounts!).


You would perhaps be better going with Halifax instead? The same £100 incentive...and £5/month ongoing if you go for their Reward account.

We had Halifax here too years ago.... and it left leaving me branchless and no way to pay in physical cash. Banking system seems determined to make me travel ten miles to pay in

Archi_Bald

Nicki_Sue wrote: »

We had Halifax here too years ago.... and it left leaving me branchless and no way to pay in physical cash. Banking system seems determined to make me travel ten miles to pay in

Lots of Banks, Halifax included, allow deposits (and withdrawals) to be made in Post Offices.

http://www.postoffice.co.uk/branch-banking-services#withdrawals_&_deposits