Coop bank everyday rewards

Peterknows

Archi_Bald wrote: »

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.

Its new as of Monday 11th January so the initial calls will be longer than in a few weeks time.

Peterknows

Candyapple wrote: »

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:

The average bank account has more than 4 direct debits so no real issue there.

Peterknows

7_week_wonder wrote: »

Absolutely definitely Direct Debits. Tescos savings accounts are about the only ones (AFAIK) which let you set up Direct Debits, which is why they are so popular around these forums. I already use these saving accounts to provide direct debits for my Halifax and Lloyds accounts and it works fine

Under the Making Deposits tab it states: "You can set up a regular Direct Debit or Standing Order, if you like seeing your savings stacking up neatly."

As long as they appear in the Direct Debit tab on your account then they should qualify be sure to check.

ceredigion

Peterknows :
You are obviously co op, care to comment on this thread.
https://forums.moneysavingexpert.com/discussion/5387309

colsten

arrrrgh

Leave them alone

ceredigion

Peterknows wrote: »

The system will be able to tell if they are the same item and will not payout and if they are Standing orders they do not qualify either.

Peterknows wrote: »

As long as they appear in the Direct Debit tab on your account then they should qualify be sure to check.

Explain "same item" ?

sparkiemalarkie

I registered for this today and was told that the funding of £800 and the 4 direct debits had to happen after joining, to get the reward for January.
The funding is easy enough but I have had to manipulate 2 of my DD's to pay out again this month.


HTH


sparkie

Jakg

Peterknows wrote: »

The average bank account has more than 4 direct debits so no real issue there.

I'm replying to your comment, but really this is more aimed at Co-op themselves.

I have 6 direct debits on my current account.

2 of those are infrequent (one is to PayPal for eCheque payments, the other annual car tax) so wouldn't qualify.

Of those 4, one is to a charity, and the other three are for credit cards. I doubt the average person has three credit cards!

My phone bill comes out via a CPA, and all my household bills come out of a joint account.

4 direct debits is just too high I think.



Having said all that - I'd be interested to see how people have set up their funding. Normally I'd use two Tesco direct debits for this, but it's clear that's not going to cut it!

Can you have multiple Tesco Instant Savers / Instant Access Savings Accounts?

hgt

I also called up today to register... quite impressed as call got answered very quickly (was expecting a long queue), my overall call was less than 5 minutes, and most of that was the lady reading out all the blurb! I already had 7 DDs on the account but only 3 pay out monthly, so I've added a couple of new Tesco ones to make up the numbers.

Perhaps this 'PeterKnows' chap just doesn't understand the difference between DDs and SOs. People never believe me when I tell them they can use Tesco accounts to transfer money via DD. My 2x Tesco accounts are now pulling DDs from 5 different current accounts - been doing that successfully for years! I usually find that Tesco use a different reference for the DD to each account, so far all my other current accounts have treated these as 2x separate DDs and hence meet the criteria, so I don't think the Co-Op will be any different. Money for nothing :-)

hgt

Jakg wrote: »

Can you have multiple Tesco Instant Savers / Instant Access Savings Accounts?

Yes you can have one of each Tesco account, then as many DDs as you like on each. I happen to have 2x Tesco Internet Savers, but that was due to a quirk in the application process, I don't think they normally allow you to have more than one of the same account type.

Once you have 2x Tesco accounts that can give you 2 separate DDs
for your current account. Despite what some people assume, they really will show up as two seperate DDs and the current account providers seem to count them as such. Certainly mine do at Halifax & BOS as they are the only DDs I have on those accounts and I'm getting my bonuses etc.