Co-operative Bank statements

SnowTiger

Is it normal for Co-operative Bank to produce statements on seemingly random dates?:



The only change I made was to switch from paper to paperless statements about a month after I opened the account.

Two statements in May, no statements in or July, August, October and November; and the days of the month are all over the place.

I guess they switched the account to quarterly statements in June, but they've spoiled the pattern by firing off a statement in January 2016.

There's been transactions going through the account every month.

SuperAllyB

Mine are certainly random. Haven't actually checked but I wondered if it was triggered by a certain number of transactions?

luvchocolate

It would seem you get a statement when the page is full.

dr_adidas01

Yes they seem to produce statements very randomly indeed... I received a paper statement yesterday despite having it set to online only.

As others have pointed out it maybe related to how many transactions have taken place on the account.

badger09

Very odd.

I've been with Co-operative for decades - its my 'main' account:p

My online banking shows I've received a statement dated between 2nd and 6th, every month since April 2012. Occasionally there have been 2 statements in the same month but both between 2nd and 6th.

anamenottaken

luvchocolate wrote: »

It would seem you get a statement when the page is full.

This is what I found - could be really annoying because they could show the current account being over-drawn as the final item on the statement when in fact it was in credit before the end of that day (credit made earlier in the day but credits are recorded after debits)

It may be a combination of two methods - one being after the specified number of transactions or otherwise at a certain period from the previous one if the trigger number of transactions have not been made.

Stuart_W

I've been with Co-op since before the dawn of time, and also smile since 1999.

Co-op current accounts were previously defaulted to monthly statements at the same time every month OR after 25 transactions (that's a full page) if that happens sooner.

The new T&Cs here seem to show at 16.1 that monthly statements are now available on request rather than standard, and if you therefore don't request them you'll probably get one every 25 transactions, or whenever they feel like it. In the past, they have sometimes pushed out a statement as a way of advising of changes of interest rates as this is written on the statement.

Having always been with Co-op/smile, and having moved my main account from co-op to smile in 1999 I find myself doing the exact reverse now, over 16 years later, as the everyday rewards option does not cover smile accounts. Co-op now has better online servicing than smile with the 7 year paperless vault business. They look like they are determined to quietly kill off smile.

JuicyJesus

Stuart_W wrote: »

Having always been with Co-op/smile, and having moved my main account from co-op to smile in 1999 I find myself doing the exact reverse now, over 16 years later, as the everyday rewards option does not cover smile accounts. Co-op now has better online servicing than smile with the 7 year paperless vault business. They look like they are determined to quietly kill off smile.

I didn't even realise that Smile are still a going concern.

Always struck me as a bit like First Direct with less of a budget.

boo_star

SnowTiger wrote: »

Is it normal for Co-operative Bank to produce statements on seemingly random dates?:



The only change I made was to switch from paper to paperless statements about a month after I opened the account.

Two statements in May, no statements in or July, August, October and November; and the days of the month are all over the place.

I guess they switched the account to quarterly statements in June, but they've spoiled the pattern by firing off a statement in January 2016.

There's been transactions going through the account every month.

Having worked for them, they produced statements after a certain number of transactions OR once a month.

I forget the exact number, either 20 or 25.

Edit: Stuart_W beat me