coop switch is MSE correct?

moneysavinggirl40

Is MSE website correct for COOP current account regarding set up direct debit or standing order? Do I need to switch 2 direct debits or standing orders? Is that the same as need to set up direct debit or standing order? because MSE say No you don't. Am I getting confused? what did others do to get £100 incentive? It could just be that i don't need to set up any more if i have switched 2 d.d or 2 s.o. can any1 clarify for me?


MSE website:

• In-credit interest: None
• Arranged overdraft cost: Set-up cost £20/year (doesn't apply under £200), 18.9% EAR
• Unarranged overdraft fees: £20/month service charge plus £15 unpaid item fee
• Need to set up direct debit or standing order? No.

COOP website


Complete a full switch to us

You'll need to use the full Current Account Switch Service within 14 days of your account opening, which will include the closure of your old account on the day that your switch completes. You'll need to switch at least 2 Direct Debits or standing orders.

meer53

I read it as you don't need to set up any dd's when you open the account but you need to switch 2 dd's or standing orders from you old account ?

moneysavinggirl40

as i don't have any d.d or s.o. set up on external acc., i can set up 2 s.o. now and that should be enough for the switch to be accepted for the incentive..

Archi_Bald

meer53 wrote: »

I read it as you don't need to set up any dd's when you open the account but you need to switch 2 dd's or standing orders from you old account ?

That's how I read it too. But it's a lot safer to refer to the provider's T&Cs than to a third party website / forum.

moneysavinggirl40 wrote: »

as i don't have any d.d or s.o. set up on external acc., i can set up 2 s.o. now and that should be enough for the switch to be accepted for the incentive..

That sounds indeed the case if the Coop T&Cs require 2 DDs or SOs to be switched.

meer53

All my info is taken from the providers T & C's.

Archi_Bald

meer53 wrote: »

All my info is taken from the providers T & C's.

I wasn't meant to criticise you in any way, apologies if it came over like that. I was just making / repeating a general comment because too many people seem to take the MSE main site and/or the MSE forum as gospel. Nobody will knowingly tell people wrong things but the providers can, and do, change their T&Cs without referring to third party websites.

moneysavinggirl40

Archi_Bald wrote: »

That's how I read it too. But it's a lot safer to refer to the provider's T&Cs than to a third party website / forum.



That sounds indeed the case if the Coop T&Cs require 2 DDs or SOs to be switched.

So once switched these SO's don't need to be maintained, I can just set it up with old account in readiness for the switching process and then once switched ditch the SO's. Is that what others have done?

Archi_Bald

moneysavinggirl40 wrote: »

So once switched these SO's don't need to be maintained, I can just set it up with old account in readiness for the switching process and then once switched ditch the SO's. Is that what others have done?

I can't see anything in the switching T&Cs that would prohibit the plan you hatched for SOs. Can you?

YorkshireBoy

moneysavinggirl40 wrote: »

So once switched these SO's don't need to be maintained, I can just set it up with old account in readiness for the switching process and then once switched ditch the SO's. Is that what others have done?

Best not to cancel them until you've got your incentive.

moneysavinggirl40

understood i believe its within 45days, ty every1

meer53

Archi_Bald wrote: »

I wasn't meant to criticise you in any way, apologies if it came over like that. I was just making / repeating a general comment because too many people seem to take the MSE main site and/or the MSE forum as gospel. Nobody will knowingly tell people wrong things but the providers can, and do, change their T&Cs without referring to third party websites.

No offence taken ! I have very thick skin