Co-op have incredible offer on EveryDay Extra Account

arthurfowler

Tried to sign up to Halifax last night, but their website didn't allow me to enter my previous international address so gave up.

Checked Co-Op's offer and couldn't see it mentioned on MSE's banking offers - they just talk about the regular account.

This is the Everyday Extra Current Account

You get:

125 for switching
Worldwide travel insurance for you and your family NO EXCESS
Mobile phone insurance NO EXCESS
UK and European breakdown cover
5.50 reward for 4 direct debits, pay in 800 per month and 5p per debit card spend up to 1.50

15 per month or 9.50 if you opt-in and qualify for rewards.

Am I missing something? This sounds like a fantastic package.

eskbanker

arthurfowler wrote: »

Checked Co-Op's offer and couldn't see it mentioned on MSE's banking offers - they just talk about the regular account.

It's listed alongside the packaged offerings from its competitors at http://www.moneysavingexpert.com/banking/best-packaged-bank-accounts

bigadaj

For many it's currently beaten by nationwide flexplus, but less so when the price of that goes up in the near future.

arthurfowler

You have to pay excess with nationwide though dont you? And no joining bonus?

bigadaj

arthurfowler wrote: »

You have to pay excess with nationwide though dont you? And no joining bonus?

There is an excess but how many times are you thinking you'll be claiming?

Refer a friend can net £400 for a couple quite easily.

Currently it also only cost £6.50 allowing for credit interest, I have the basic cool account and cycle money through to get the £4 per month, can't be bothered using the debit card for 5p a go; I'm tight but not that patient.

jamie_02

Who charges 5p to use a debit card?

eskbanker

jamie_02 wrote: »

Who charges 5p to use a debit card?

Nobody!

Co-op Bank pays its Everyday Rewards customers 5p cashback every time they use their debit cards (up to £1.50 cashback per month, subject to Ts & Cs)....

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

Rich2808

bigadaj wrote: »

For many it's currently beaten by nationwide flexplus, but less so when the price of that goes up in the near future.

Its a good account - but the NW flex plus still beats it even allowing for the new £13 monthly fee.

The Nationwide account pays 3% interest on £2500 - more than £5.50 a month and no direct debits/payments in required.

Its also handy for those who go abroad a lot as there are no currency conversion or withdrawal fees for withdrawals abroad. That can save you £3 plus for every £100 you withdraw from a cash machine abroad.

The Nationwide flex plus also covers you for breakdowns for any family member resident at your address driving your car - the Coop account just covers you personally for any car you drive or travel in. So the NW account provides better cover if you have partners/kids as they can use your breakdown cover even if you arent with them..

As for the £50 NW insurance excess - you can pay £5 to turn it into a zero excess pre travel.

bigadaj

Rich2808 wrote: »

Its a good account - but the NW flex plus still beats it even allowing for the new £13 monthly fee.

The Nationwide account pays 3% interest on £2500 - more than £5.50 a month and no direct debits/payments in required.

Its also handy for those who go abroad a lot as there are no currency conversion or withdrawal fees for withdrawals abroad. That can save you £3 plus for every £100 you withdraw from a cash machine abroad.

The Nationwide flex plus also covers you for breakdowns for any family member resident at your address driving your car - the Coop account just covers you personally for any car you drive or travel in. So the NW account provides better cover if you have partners/kids as they can use your breakdown cover even if you arent with them..

As for the £50 NW insurance excess - you can pay £5 to turn it into a zero excess pre travel.

Though you don't have £2.5k permanently tied up with the co op account.

For the record I currently have a flexplus and a no fee co op account for the reward.