The Co-op bank account opening process

Alex9384

Hi forumites.

Anyone who has recently opened a new Co-operative current account?

Is the account normally opened on the day of the application? Does it involve any paperwork, sending back something by post, etc.?

I might also apply for their credit card. Do they run a hard search for credit limit increases? Has anyone tried that?

Judging by the absence of eligibility checker and frequent complaints on social media about their accounts not working properly, I assume they are technologically a bit behind.

blue.peter

I opened a Co-op current account in October. Is that recent enough for you?

Online application: 21/10/2021

No paperwork, nothing had to be sent in.

Account open confirmation (e-mail): 24/10/2021

Online banking set up: 24/10/2021

I don't recall exactly when I received my debit card and PIN, but think that it was about 1/11/2021 or so.

The earliest date offered for my CASS switch from the TSB account that I was closing was commencing on 10/11/2021, completed on 17/11/2021. In other words, they wouldn't rush to start it.

I'm not sure what you mean about "accounts not working properly": I've not had any problems. Having said that, their online banking offering isn't the best I've ever seen. Some behaviour is rather odd - e.g., no OTP needed to log in, but one is then required to access certain pages once you're already logged in. (One is required to access Planned Payments, but not Move Money!) And some things are in less-than-intuitive places. For example, the list of DD payees is on the Planned Payments page, not under Manage Recipients. OTOH, for all that it's a bit odd, it does seem more reliable than, say, TSB's.

I can't help with regard to Co-op credit cards: I didn't bother to apply for one (I have enough credit cards already).

Alex9384

blue.peter said:

I opened a Co-op current account in October. Is that recent enough for you?

Online application: 21/10/2021

No paperwork, nothing had to be sent in.

Account open confirmation (e-mail): 24/10/2021

Online banking set up: 24/10/2021

I don't recall exactly when I received my debit card and PIN, but think that it was about 1/11/2021 or so.

The earliest date offered for my CASS switch from the TSB account that I was closing was commencing on 10/11/2021, completed on 17/11/2021. In other words, they wouldn't rush to start it.

I'm not sure what you mean about "accounts not working properly": I've not had any problems. Having said that, their online banking offering isn't the best I've ever seen. Some behaviour is rather odd - e.g., no OTP needed to log in, but one is then required to access certain pages once you're already logged in. (One is required to access Planned Payments, but not Move Money!) And some things are in less-than-intuitive places. For example, the list of DD payees is on the Planned Payments page, not under Manage Recipients. OTOH, for all that it's a bit odd, it does seem more reliable than, say, TSB's.

I can't help with regard to Co-op credit cards: I didn't bother to apply for one (I have enough credit cards already).

Thank you! So you applied on Thursday but the account was set up on Sunday. That's interesting.

I don't know what exactly is not working properly, it was just some people complaining on their FB. And I remember several posts from Co-op about their online banking being fixed. Maybe it was Smile, I'm not sure, but I assume it's the same system as Co-op.

Btw, just out of curiosity, the account shows on your credit files as opened on 21st or 24th?

blue.peter

Alex9384 said:

Btw, just out of curiosity, the account shows on your credit files as opened on 21st or 24th?

I've just looked at my Experian record, and that says 22nd.

My statements from both Nationwide and Co-operative say that I made my first payment in to the Co-op account on 25 October, but with an effective date of 24th. That's a good indication that I didn't know the sort code and account number until 24 October and therefore couldn't do anything with the new account until then.

Now that you mention it, I do recall that there was a big problem with Smile online banking a while back. Like you, I assume that Smile and Co-op use the same system, and therefore that Co-op was also affected, but I don't know. I think that it lasted a day or two. There was a thread about it on here, but I can't now find it. It didn't affect me: I think that it was before I opened my account.

badger09

I’ve had my ‘main’ current account with Co-operative bank since 1971. I’ve also had dozens of current accounts with most of the other providers & still operate 12 of them. 

In all that time, I honestly can’t remember having any major problems & certainly no ‘outages’ lasting more than a few hours. Which is more than can be said for several of the others! On the rare occasion I’ve needed to speak to their CS in the past, I haven’t had to wait for ages to do so. 

The online offering & app have never been ‘cutting edge’, and I don’t expect they ever will be, but they are perfectly functional.

In short, no bells & whistles, but it does what it says on the tin😉 

blue.peter

blue.peter said:

Now that you mention it, I do recall that there was a big problem with Smile online banking a while back. Like you, I assume that Smile and Co-op use the same system, and therefore that Co-op was also affected, but I don't know. I think that it lasted a day or two. There was a thread about it on here, but I can't now find it. It didn't affect me: I think that it was before I opened my account.

Cracked it! See this thread. It was nearly two years ago - long before I opened my account.

middlingditch

FWIW I left Smile (Co-op) in 2019 after banking with them for 18 years and I just got sick of the online banking falling over. The app was also very flakey. 
They started off with great customer service but that also badly degraded over the years. I only stayed with them because of their "ethical" policies but have now moved to Triodos for my main current account. But your experience may be fine.

Polarpenguin

I've been with Co-op for about 12years now. I've never had any issues with the online or app access.
As Badger says it doesn't have all the Bells & Whistles of some, but it does what it needs to do.
It's still my main account despite opening and closing others.

blue.peter said:

Alex9384 said:

Btw, just out of curiosity, the account shows on your credit files as opened on 21st or 24th?

I've just looked at my Experian record, and that says 22nd.

My statements from both Nationwide and Co-operative say that I made my first payment in to the Co-op account on 25 October, but with an effective date of 24th. That's a good indication that I didn't know the sort code and account number until 24 October and therefore couldn't do anything with the new account until then.

Now that you mention it, I do recall that there was a big problem with Smile online banking a while back. Like you, I assume that Smile and Co-op use the same system, and therefore that Co-op was also affected, but I don't know. I think that it lasted a day or two. There was a thread about it on here, but I can't now find it. It didn't affect me: I think that it was before I opened my account.

Bit in Bold only Smile was affected by that issue, Co-op wasn't

Alex9384

Thanks for your replies guys!

blueberrypie

I recently tried to help family members open an account with Co-op - mainly for the travel insurance benefit. These family members are a couple in their 70s, both UK residents since birth, have been married since the 1980s, have lived in the same property (now mortgage-free) since the 1980s, both on electoral register at that address for all that time. No issues with their credit records, both have decades-old UK bank accounts in their own names and jointly. The initial application went through, then they were asked to send photo ID and proof of address for one of them (but not the other). That was sent as requested. Then they received a phone call asking for further proof of identity (again for the same partner). That ID was photocopied and posted to them as requested. Three days after that they received a letter asking for the same proof of identity again. They assumed this had crossed in the post with what they'd sent - until a further phone-call several days later when they were told the photocopies needed to be certified. This was mentioned in small type on page 2 or 3 of the letter they'd received, but had never been mentioned on the phone. After several more phone-calls in which they were given conflicting information regarding what was needed and why, and during which the customer service person gave them erroneous information (conflicting with what was on their website, and including inaccurate details on how to make a formal complaint), they gave up and told Co-op not to bother with the account. Several weeks later, a letter was received stating that as they hadn't completed the application by sending the required documents, the application had been cancelled.

So overall, not really a positive experience (and one that has put this couple off ever dealing with any bank if they can't walk into a branch and do everything face-to-face).