Coop Bank New switch offer: £150

badger09

sharpharp wrote: »

It says Active DD, but most banks have a different take on what is classed as Active.


So with the Co-op, do you have to pay out EACH month, or will a ONE-off DD do? - This won't be in the T&Cs

Have you actually read the T&C in the link I posted?

Particularly the text next to the 5th big green tick?

In the spirit of MSE, I'll resist the urge to address you as not-so-sharpsharp

sharpharp

badger09 wrote: »

Have you actually read the T&C in the link I posted?

Particularly the text next to the 5th big green tick?

In the spirit of MSE, I'll resist the urge to address you as not-so-sharpsharp

Yes I did, did you read my question?


"offer requires a full switch with 4+ active Direct Debits to a qualifying current account."


I'll say this slowly so you understand.... Does the Active DD work as a one-off so they are registered as DDs, or do you have to pay out the DDs EACH month

ceredigion

badger09 wrote: »

T&Cs are very clear:cool:

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

In fairness to sharpharp.

"at least four Direct Debits must be paid from the Nominated Account during that Calendar Month "

Isn't entirely clear

YorkshireBoy

There is no current switching offer (and as far as I know never has been) that requires DDs to pay out before they'll release the switching incentive payment. Any provider making such a condition does so for ongoing rewards/interest.

badger09

sharpharp wrote: »

Yes I did, did you read my question?


"offer requires a full switch with 4+ active Direct Debits to a qualifying current account."


I'll say this slowly so you understand.... Does the Active DD work as a one-off so they are registered as DDs, or do you have to pay out the DDs EACH month

From the link I posted my bold

"Everyday Rewards

What is Everyday Rewards?

This is a scheme you can opt into at no extra cost, which rewards you for Everyday Banking each month.

Rewarding you up to £5.50 each month

To be rewarded £4 every month, you need to do the following in a calendar month:

Pay in a minimum of £800 to the nominated account.
Transfers from other Co-operative Bank, Britannia and smile accounts do not count.

Stay in credit, or within your agreed formal overdraft limit on the nominated account.

Log in to Online Banking or the Mobile Banking app at least once during the month.

Remain opted in for Paperless Statements.

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

If you do not meet all of the qualifying criteria above in any month - for example, if you pay less than £800 into your nominated account in July - you won't earn Rewards for that month.

You can only earn Everyday Rewards on one account at a time."

Clear now?

sharpharp

badger09 wrote: »

From the link I posted my bold

"Everyday Rewards

What is Everyday Rewards?

This is a scheme you can opt into at no extra cost, which rewards you for Everyday Banking each month.

Rewarding you up to £5.50 each month

To be rewarded £4 every month, you need to do the following in a calendar month:

Pay in a minimum of £800 to the nominated account.
Transfers from other Co-operative Bank, Britannia and smile accounts do not count.

Stay in credit, or within your agreed formal overdraft limit on the nominated account.

Log in to Online Banking or the Mobile Banking app at least once during the month.

Remain opted in for Paperless Statements.

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

If you do not meet all of the qualifying criteria above in any month - for example, if you pay less than £800 into your nominated account in July - you won't earn Rewards for that month.

You can only earn Everyday Rewards on one account at a time."


Clear now?

I'm on about a Current Account switch incentive, not their Rewards programme.

sharpharp

Blue_Max wrote: »

Must be active in the old account before switching.
Have a look at
http://www.co-operativebank.co.uk/currentaccounts/currentaccount

Before switching I set up DDs for small amounts to charities and to Tesco Bank. Easy to do online.
To be on the safe side, I also made sure that these DD payments were made from the old account before switching.

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?


Badger doesn't seem to be able to grasp this concept with his cut and pastes.

ceredigion

sharpharp wrote: »

I'm on about a Current Account switch incentive, not their Rewards programme.

You first quoted a statement referring to the Rewards programme. So I and probably others assumed it was the rewards you needed 4 DD's for.

badger09

ceredigion wrote: »

You first quoted a statement referring to the Rewards programme. So I and probably others assumed it was the rewards you needed 4 DD's for.

Yup.

Mind reading is not my strong point, but neither is insulting fellow posters:)

ceredigion

badger09 wrote: »

Yup.

Mind reading is not my strong point, but neither is insulting fellow posters:)

I am adapt at the latter