Co-op bank switching T&Cs

secondtoughest

I just had a call with Co-op asking when I would receive my £100 for switching. He looked at my account and said that although I had paid in £800, I hadn't left it in for 24 hours. Also as I had paid it from and back to another bank I was clearly not using Co-op as my main bank account.

I asked him to tell me where in the terms and conditions it stated that the £800 needed to be in my account for 24 hours. He had a look on the website and conceded that the information wasn't on there and that I would still get the payment within 45 days (it's been around 31 days currently).

Has anyone else had any issues with receiving their switching incentive or heard about this 24 hours clause before?

grumbler

secondtoughest wrote: »

I had paid in £800, I hadn't left it in for 24 hours ... I had paid it from and back to another bank ...

When abusing an offer (yes, this is exactly what you are doing) it's worth doing this less blatantly.

YorkshireBoy

grumbler wrote: »

When abusing an offer (yes, this is exactly what you are doing) it's worth doing this less blatantly.

I agree, but also admit to sometimes doing the same (deposit/withdraw on the same day) grumbler.

However, what I don't do, knowing full well the T&Cs state "within 45 days from the date your switch is completed", is ring them up after only "around 31 days" asking when it will be paid! I wouldn't need to would I?...I already know.

secondtoughest

Got it, I'll abuse these offers more sneakily next time.

The point remains, does it state anywhere in Co-op's T&Cs that the £800 needs to be in there for 24 hours? As if it does, and I've missed that somewhere then it should be a discussion/awareness point for people signing up for this switch offer.

YorkshireBoy

secondtoughest wrote: »

The point remains, does it state anywhere in Co-op's T&Cs that the £800 needs to be in there for 24 hours? As if it does, and I've missed that somewhere then it should be a discussion/awareness point for people signing up for this switch offer.

You're unlikely to have missed it having read the switching T&Cs so many times. After all, you've now read them at least 3 times...

1. Before you applied, and
2. After the phone call, and
3. Just now before posting

But if it helps, I've also checked and it doesn't!

planteria

interesting concept though.. i put the money straight in & out myself too:o

grumbler

I do this too, but at least I use different banks (for 'from' and 'to') and different amounts.

Yorkshire_Pud

Is there a usual time, number of days within the 45 days stated when Co-op actually pays out?

Reason I ask is that Yorkshire Bank stated within 60 days to pay out but it was typically 35 days and after 4pm.

Also because I'm waiting too!:cool:

grumbler

>> Co-op £100 switch incentive is back

Yorkshire_Pud

Thanks, seems its 35 or 40 or 43 or 45+ and late to receive the £100.:)

Anthorn

In addition to paying in £800 within 31 days, two direct debits must also be switched to get the £100 incentive.