Coop Bank New switch offer: £150

YorkshireBoy

sharpharp wrote: »

I have them setup in my old account (as one off DDs, but don't have them paying out monthly. So when I switch, yes all 4 will come over, but once switched to Co-op, will the 4x DDs have to pay out each month or not?

Are you reading all the replies? I've already answered this question for you in post #85 above. If you just wanted a one word answer it's no.

Candyapple

Candyapple wrote: »

Thanks for this - rang them half an hour ago and switch date all sorted.

When I called through it said 10 mins waiting time (turned out to be 5) then the whole process took 8 minutes which including setting up Internet banking details and the operator reading all the T&Cs gumph and whatnot and providing them with the old account and card details to be switched. Hopefully in 45 days time I shall be the recipient of £150.

To update: the £150 incentive was paid on day 37 after switching.

Still waiting on the cashback from TCB however, which is currently showing as pending at £0.00 and payable in 29 weeks time. I'm hoping that it changes from £0.00 to the £50 closer to pay out time, we shall see.

Rags_to_Riches_2

I am tempted to join the Co-op but i currently bank with LLoyds (worst bank ever). I have a hefty overdraft with them and i'm fearful that they will want the full amount paying in full if i leave. Any advice on what to do?

YorkshireBoy

Blue_Max wrote: »

First Direct for example give switching bonus only to new customers.
No bonus given if the account is closed and a new application made after few months.
Is this the same with Co-op ?

Yes.........

Westie983

Rags_to_Riches wrote: »

I am tempted to join the Co-op but i currently bank with LLoyds (worst bank ever). I have a hefty overdraft with them and i'm fearful that they will want the full amount paying in full if i leave. Any advice on what to do?

If you switch you will need to repay the overdraft, Lloyds are notorious for stopping switches if in debt, so I would say open a new account and treat the overdraft as a debt, but not sure you will be eligible for any switching incentives, unless the new account comes with a overdraft to match, then you could use it to repay lloyds then switch.

Biggles

I've just opened an account for the reward payments; I will qualify but I read that I need to actually opt in. I may have done this as part of the application process but can't recall - is there any way I can tell from online banking whether I am opted in?

YorkshireBoy

Biggles wrote: »

I've just opened an account for the reward payments; I will qualify but I read that I need to actually opt in. I may have done this as part of the application process but can't recall

I seem to remember you had to call them to register after the account was opened.

is there any way I can tell from online banking whether I am opted in?

I've just had a look around my online area and the only mention of Everyday Rewards I can see is on my list of recent transactions and the statements, ie when they were paid.

colin32

YorkshireBoy wrote: »

I seem to remember you had to call them to register after the account was opened. I've just had a look around my online area and the only mention of Everyday Rewards I can see is on my list of recent transactions and the statements, ie when they were paid.

I received a letter "Welcome to Everyday Rewards"
Thank you for opting to join our Everyday Rewards scheme.
I seem to recall just ticking a box when applying. When you ring them to sort the switch, they will ask if you want to opt in.

bluehydrangeas

Can anyone confirm that the four active DDs need to have paid out at least once before switching, to get the bonus after switching? I currently have 4 DDs set up on the account I want to switch to Co-Op, but the DDs haven't paid out yet. They are due to pay out over the course of the next 2 weeks. Should I wait until they have all paid out before I try to switch?

Westie983

I dont know, but I would wait just incase, if you switch early and you dont get the incentive you will kick yourself, if you wait and this is correct you will get the incentive, if you wait and you didn't need to, you still get the incentive, so best case scenario is to wait IMHO.