Coop Bank New switch offer: £150

Westie983

adindas wrote: »

I just wonder, if you already have a coop current account, it is possible to take advantage of this switching incentive ??

If not Coop account, what about smile account ??

Thanks

Found this on coop's website....

Existing Customers

4. You will be considered an existing customer if you already have a Co-operative Bank or smile current account of any type as at 3 May 2016.

5. You will be eligible for this offer if you are an existing customer unless:

5.1 you are an existing customer and an average of £800 or more per month has been credited to your Co-operative Bank or smile current account between 3 February 2016 and 3 May 2016, or between your account opening and 3 May 2016 if that is a shorter period of time; or

5.2 you have previously received any other incentive, offer or benefits for switching to a Co-operative Bank or smile current account at any point since January 2014.'

So it depends if you have already had an incentive before or how you have been funding your account, and looks like you can't get an incentive from Smile as well, as they are the same company.

bristolleedsfan

LankyMoneySaver wrote: »

However when clicking through to co-op site from it there's no mention of the £150 switching bonus.


I'm know wondering if I'll actually get the Co-op £150 if I use TCB. Has anyone tried getting both yet or queried with TCB/Co-op?

Did you complete form that is on landing page and go onto next page.

Yorkshire_Pud

I got both £44 TCB and £100 from Co op from one application last year, it is possible because they aren't directly connected.

I wouldn't ask Co op or TCB for advice! Worst that can happen is one or both don't payout but you can't be disqualified for doing both;)

[Deleted User]

Gosh, that was quick.


Applied online for new Co-op current account last night. Received email this afternoon saying that I have been accepted, subject to a "few formalities" and that I will receive paperwork in the post "in the next few days".


Then it's a case of visiting a Co-op branch, or phoning, to arrange the switch.


That gives me time to arrange 4 DD's on the Tesco account which I plan to switch. No DD's on this account at the moment.


I've arranged to switch a DD for Santander cashback credit card from Santander 123 current account to the sacrificial Tesco account. I've done that online, just waiting for it to show on the Tesco account.


I'm also arranging to move an existing DD for an Aldermore Bank savings account from Santander to the Tesco account. Unfortunately this requires a form to be printed and posted to Aldermore (freepost address, though).


I remembered that I have an annual DD for a charity sitting on my HSBC account (I'd forgotten about this, because it pays out annually in November). I will telephone the charity and have this transferred to the Tesco account (and changed to monthly payment).


Finally, I will move my mobile phone DD from Santander 123 to Tesco. Unfortunately this will mean losing out on Santander 123 cashback but a small amount only.


For the Co-op switching incentive, the 4 DD's only need to be active on the switch date. Note, though, that for the ongoing £4 monthly reward from Co-op needs 4 DD's to have paid out during the calendar month.

adindas

Thanks for this info. I already have a Co-op standard current account have qualified for everyday rewards. I got incentive from coop but that was before January 2014. I think it was 2013.

My understanding from this info is that if I can get a smile account, I am eligible for an incentive?? Any comment on this???

But this will depend on whether they allow people to have both Coop and Smile account.. I read somewhere else that they allow this ?? Any other people could confirm this please ??.

Westie983 wrote: »

Found this on coop's website....

Existing Customers

4. You will be considered an existing customer if you already have a Co-operative Bank or smile current account of any type as at 3 May 2016.

5. You will be eligible for this offer if you are an existing customer unless:

5.1 you are an existing customer and an average of £800 or more per month has been credited to your Co-operative Bank or smile current account between 3 February 2016 and 3 May 2016, or between your account opening and 3 May 2016 if that is a shorter period of time; or

5.2 you have previously received any other incentive, offer or benefits for switching to a Co-operative Bank or smile current account at any point since January 2014.'

So it depends if you have already had an incentive before or how you have been funding your account, and looks like you can't get an incentive from Smile as well, as they are the same company.

YorkshireBoy

adindas wrote: »

Thanks for this info. I already have a Co-op standard current account have qualified for everyday rewards. I got incentive from coop but that was before January 2014. I think it was 2013.

My understanding from this info is that if I can get a smile account, I am eligible for an incentive?? Any comment on this???

But this will depend on whether they allow people to have both Coop and Smile account.. I read somewhere else that they allow this ?? Any other people could confirm this please ??.

So if you have qualified for Everyday Rewards you must have been paying in £800 a month to your Co-op account? If you've been doing this for 3 months or more you're ineligible aren't you?

YorkshireBoy

adindas wrote: »

I know Coop, no chance. But I am looking into possibility to open Smile account just to bag switching incentive if they allow people to have both coop and smile ...

Then why not pop along to the Smile website and read the incentive T&Cs, specifically condition 5.1

You'll find they're exactly the same as those for Co-op reproduced above.

This is like a reading lesson!

Dan83

YorkshireBoy wrote: »

Then why not pop along to the Smile website and read the incentive T&Cs, specifically condition 5.1

You'll find they're exactly the same as those for Co-op reproduced above.

This is like a reading lesson!

You have to read for it to be a reading lesson, from what I can gather here, some are reading (the T&Cs) and some are asking questions with out reading (the T&Cs) them selves.

Westie983

I have posted the section about existing customers where it clearly states that you cant get the incentive if you have already had it from COOP or Smile, Checking the Smile website it says the following

must complete a full switch to The Co‑operative Bank using the Current Account Switch Service and switch at least 4 active Direct Debits. Offer can be withdrawn at any time. Excludes recipients of previous switching incentives.

So I would say that as they are the part of the same bank you are unable to get the incentive from Smile or Coop if you have had it from either before, Why not give them a call and ask...

Hattie625, From the COOP website its says
8.3. switch in a minimum of four active Direct Debits to your new current account, which must remain active until the incentive payment is made.

Not sure what COOP definition of active is but I would say they would have to pay out to get the incentive.

YorkshireBoy

Westie983 wrote: »

I have posted the section about existing customers where it clearly states that you cant get the incentive if you have already had it from COOP or Smile, Checking the Smile website it says the following

must complete a full switch to The Co‑operative Bank using the Current Account Switch Service and switch at least 4 active Direct Debits. Offer can be withdrawn at any time. Excludes recipients of previous switching incentives.

So I would say that as they are the part of the same bank you are unable to get the incentive from Smile or Coop if you have had it from either before.

If that's in response to Adindas' posts, then that's not in dispute. They've already said they had the Co-op incentive before the cut-off. What's the issue with Adindas is the fact they quite clearly fall foul due to the funding issue over the last 3 months.

Hattie625, Worth reading the T&C's again as its not only 4 DD switched as part of the switch but they have to pay out until the incentive is paid, so they cant just be set up.

The T&Cs say...

switch in a minimum of four active Direct Debits to your new current account, which must remain active until the incentive payment is made.

Seems to be a particularly bad day for reading T&Cs today!


EDIT: Seems you've now realised and edited your post.