Co-op (Britannia Select Access Saver 5) experience

pavane

I'm considering opening an account with Co-op for the Britannia Select Access Saver 5, 1.65% limited access account. The 100 switch bonus is a nice extra. Can you please provide feedback on your experience?

There's very much a negative vibe with Co-op, they're in the news for the wrong reasons. How are they to deal with- both as an institution and as far as their internet service (I don't use phone/post/branch unless can't be done online).

In simple terms, are they the type I should stay away from even if at the cost of a 0.2-0.3%? As an example of what I mean, Post Office offers decent/better rates than most but I closed my account because their website/customer service was just awful. Nothing worked, just excuses.

Before suggesting something else...
This seems to be the highest rate instant access (non-notice) account. The 4 withdrawals/year limit isn't a concern, I don't plan to pull money out frequently, but I'd need ability to do it instantly so... please do not suggest accounts that give higher rates but have notice periods of weeks/months. Please also do not suggest high interest current accounts or ISA, I've got those already. (I know people do this to help, they are just not relevant in my situation). If you do know of a an FSCS protected savings account paying more than 1.5%, by all means, please tell me.

buffman

I have a Britannia Select Access Saver 3 which is also only operated by phone. So far I have no complaints. The opening process went smoothly. Whenever I make a deposit from my external current account, I request by phone and receive a statement as confirmation. Have not yet attempted to withdraw money. Hope this helps.

bunnylou

The problem with the select access saver 5 is that it is opened on the britannia side of the coop, and therefore doesn't have internet access, just telephone and in branch. The 100 pound golden hello you talk about is only for new to bank, current account openings, which have 800 pounds credited in the first 31 i think) days. You also need to close your other current account using their switch service and bring over at least two direct debits, so the savings account you are talking about wouldn't be eligible. As for customer service, the coop have always been rated highly and won awards for it.

Hope that helps

pavane

Thanks. Should have read the fine print, didn't realise only account opening (and not operation) could be done online for the savings account. That's no good for me, will look elsewhere.

I was aware of the switch requirements for Co-op, yes, but no online for the Britania Saver means my money goes elsewhere.

Boltonlass

I also didn't realize that this account was not an online account so phoned their customer services in order to close the account.

Initially they were adamant that I had to go into a branch to close it but luckily I noticed that the T&Cs mention the usual 14 cooling off period (which I was within). It specifically states under the section "Changing your mind about your account" that the account can be closed in writing. Once I mentioned this, and after they had discussed it with their manager, they agreed that I could close it in writing.

I am still a bit miffed because it has taken over a month to open the account, although to be fair they have given me interest from early July.

I found a freephone number for Brittania on 'SayNoTo0870', which is 0800 0134860.
They have given me a freepost address to send the closing account letter, which is Brittania, Freepost 15796, Leek, Staffordshire, Moorlands, ST13 5BA

Hoping the above information may be of help to others like myself, who should have read the small print and didn't, and have opened one of these accounts assuming it to be an online account.