Co-Op Bank switching incentive not received

nervous_switcher

I opened a Co-op current account in September. I initiated my switch request a month later in October and the switch was completed on the 1st of November. I switched an account with 4 direct debits as per the terms of the offer. It has now been 29 days and I haven't received the £150 incentive. I understand the switching incentive is no longer being offered but as the promotion was active when I was switched, would I not still be eligible to receive it? I have already paid out £4 on the DDs that I switched and they are scheduled to pay out again within the next few days. Has anyone who switched recently while the offer was still active received the incentive? How long did it take after switching for the incentive to be paid? At the moment it appears I'll be making a net loss from switching instead of a gain.

YorkshireBoy

Was there a time limit to initiate the switch (from account opening)?

Wasn't there also an £800 funding requirement?

It hasn't been 45 days yet has it?

How will you have made a loss?

okydoky

YorkshireBoy wrote: »

Was there a time limit to initiate the switch (from account opening)?

Wasn't there also an £800 funding requirement?

It hasn't been 45 days yet has it?

How will you have made a loss?

Thought the £800 funding requirement was just for the Everyday Reward of £4pm, not for the switch?

If the incentive was in place when the switch was initiated, surely you would qualify for it, all other things being equal?

Yorkshire_Pud

Now, right now, might be a good time to deposit £800 into the account, if its a requirement, as it's 30th November!

OP do you have a copy of the offer T&C to refer to? I like to think outside the box!;):)

YorkshireBoy

okydoky wrote: »

Thought the £800 funding requirement was just for the Everyday Reward of £4pm, not for the switch?

You may be right. I couldn't locate the T&Cs when I posted, but the weekly email from early November suggests it is only for the Everyday Reward payments.

Still a couple of weeks to go though if they eek it out to the full 45 days.

There's still the issue of switch request timing. Been a while since I had a Co-op incentive, but I seem to remember a 'within 14 days' requirement? Maybe this offer didn't have one? OP will have to refer to the T&Cs they hopefully kept a copy of. If they didn't, then lesson learned for the next offer.

LesU

There was no requirement to deposit £800 to get the cash incentive. That, as was pointed out, was to qualify for the Everyday award payment of £4 a month. That was also dependent on all 4 of the DDs paying out in that month. I've gone for the incentive but couldn't find 4 monthly DDs, so I've given up on that.

The time limit stated in all of the paperwork was 45 days from the completion of the switch. The DDs all have to be active over that time period. That is to say set up, not necessarily paying out.

ceredigion

9. If you meet these terms and conditions and qualify for this offer we will credit £150 to the Co-operative Bank current account that you have switched to within 45 calendar days of the date your switch completes.

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