We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The most we can now get is £2.20 from £5 over halved. Time to change banks?
As you know, we believe in rewarding loyalty. This is why we launched the scheme in 2016, and why we will now continue to offer Everyday Rewards, but at a reduced amount.
We’re pleased to say that since 2016 our customers have enabled us to make a donation of over £1,000,000 to our charity partners.
That really does sound like a lot of work for very little reward - one to keep only if you actually want it as your main bank account for transactions.
Even so, 60 debit card transactions per month? I make one or two max. Although I guess not everyone likes or has access to credit cards.
That really does sound like a lot of work for very little reward - one to keep only if you actually want it as your main bank account for transactions.
Even so, 60 debit card transactions per month? I make one or two max. Although I guess not everyone likes or has access to credit cards.
It might be too tedious (definitely is for me) but if you use Curve, you could transfer your credit card transactions to your COOP debit card once a month. There is also always a way to make debit card transaction without buying something. Still, 60 card transactions a month is a hell of a lot, for such a paltry return.
That really does sound like a lot of work for very little reward - one to keep only if you actually want it as your main bank account for transactions.
Even so, 60 debit card transactions per month? I make one or two max. Although I guess not everyone likes or has access to credit cards.
It might be too tedious (definitely is for me) but if you use Curve, you could transfer your credit card transactions to your COOP debit card once a month. There is also always a way to make debit card transaction without buying something. Still, 60 card transactions a month is a hell of a lot, for such a paltry return.
And there's my benchmark - if it's too much hassle for Colsten, there's no way I'd ever consider it
The DDs I have automated so it doesn't matter how low the reward goes in that respect as it is still free money wither way. I gave up on the card transactions the last time they rejigged the rewards to require 60 transactions instead of 30 though. If I could find a decent way to automate the card transactions then I might do it anyway - the only way I know is the Amazon trick but I don't want to lock several hundred quid a year into my Amazon balance as I barely shop on there anyway. In either case the rewards are hardly worth the effort so I'll probably just keep the account going as is until a decent switch offer comes up.
I gave up on the card transactions the last time they rejigged the rewards to require 60 transactions instead of 30 though.
60 transactions not a requirement merely upper limit, 5p per debit card transaction at current rate paid on any number up to 60 whereas TSB has requirement of minimum 30 debit card transactions in order to get reward
I gave up on the card transactions the last time they rejigged the rewards to require 60 transactions instead of 30 though.
60 transactions not a requirement merely upper limit, 5p per debit card transaction at current rate paid on any number up to 60 whereas TSB has requirement of minimum 30 debit card transactions in order to get reward
Thanks for the clarification - I meant "requirement" in the sense that in order to get the max reward for the Co-Op account then you need to make the full 60 transactions. Making less would net you less reward, but wouldn't exclude you from it completely like the TSB Spend and Save account you mention.
Potential disadvantage of keeping account is if they do another refer a friend or other switching offer which might exclude existing current account holders
That really does sound like a lot of work for very little reward - one to keep only if you actually want it as your main bank account for transactions.
Even so, 60 debit card transactions per month? I make one or two max. Although I guess not everyone likes or has access to credit cards.
I use mine for small spends. If I'm only buying something for £1, then the cashback on the co-op account is 10x what I'd get on a credit card.
Even at 2p, I'll still keep it for sub £4 transactions. It's quite handy for just using for the pub.
If you're an Amazon customer and spend more than £365 with them in a typical year you can set your Amazon account to auto top-up by £1 every day. That's half of the 60 monthly transactions dealt with automatically - just need to put the work in for the other half.
12
