Coop bank everyday rewards

brettcta

http://www.co-operativebank.co.uk/currentaccounts/everyday-rewards

New rewards scheme for coop bank current account customers, £4/month provided you keep your account within the agreed terms (don't exceed your agreed OD, pay in £800/month and pay out at least 4 direct debits.

Get an additional 5p per debit card transaction up to £1.50/month when you use your debit card.

You need to log into mobile or Internet banking at least once a month too, as well as opting into paperless statements.

You can pocket the cash or donate to one of the selected charities.

Archi_Bald

Lovely spot, thanks. So I can now get the Coop to pay for the fee increase on some of my Santander accounts. I'm loving this competition business

brettcta

I imagine this'll get put into this week's mailing but I thought I'd get it posted up ASAP before the masses see it and the phone lines are battered

Archi_Bald

It's a small palaver to have this added to an existing account as you need to call them and then give them time to read through all those T&Cs....My call lasted 11 minutes but it's done now.

colsten

Sweet. Just registered. Thanks all round

brettcta

I'm sure it'll go online eventually

brettcta

I've posted this on HUKD and its gone down as if I'd recommended euthanising children under 5

Candyapple

Pay out at least four Direct Debits from your nominated account.

That's a bit much. I wonder if we will see the days of banks offering meagre rewards but you would need 10 DD's paying out each month :rotfl:

Archi_Bald

brettcta wrote: »

I've posted this on HUKD and its gone down as if I'd recommended euthanising children under 5

Not everyone can be expected to appreciate these sorts of deals, and that is just fine because the fewer people use it, the longer the deal is likely to last.

Rich2808

This just seems a slightly inferior version of rewards other banks seem to have. And four DDs.

And 5p per debit card transaction - so if you spend 20p or £100 you get the same reward? Why not make it 5 per cent of the payment made?

I can see people buying each item of food at the supermarket separately to get those 5ps!

Archi_Bald

I won't be using the debit card as the incentive doesn't make it worth my while. But I will certainly collect the £4 every month. It's £48 a year, which almost pays for an entire Santander 123. I am sure people can think of other uses for £48, too.