Co-operative Refer a Friend Switching Offer £125 (Nov 2022)

Alex9384

I'm just switching away from The Co-op and this popped up in the app:

https://www.co-operativebank.co.uk/products/bank-accounts/refer-a-friend/#T-and-Cs

In their T&Cs I can't really see anything about previous switch offers or having accounts with them in the past that would prevent me from getting the bonus again.

I received £50 bonus for switching to them this summer (recommended by a friend) so I'm wondering if I'd be eligible for this offer.

The account I currently hold with The Co-op should be closed down today (it's still working at the time of writing this).

Zanderman

I think you're correct in saying there's nothing in the terms to disqualify previous account holders, or even previous beneficiaries of similar incentives. Which seems a little unusual.

There is, of course, the last sentence in the terms saying 

We reserve the right to decline your application. Where we decline your application, we will not make a payment to either the Recommender or Friend.

Which, if you only just switched away from them, might apply, if they have any joined-up thinking.

Edited to add: referrals aren't allowed on the forum, so anyone soliciting/offering may get their posts deleted, indeed I wouldn't be surprised if the whole thread gets deleted as it will, inevitably, keep attracting referral requests.

soulsaver

Well a sedate start... bet it doesn't stay like that when the penny drops...
Referrals not allowed on here, now?

dcs34

It's not clear but I assume the referrer can only receive the £125 once, but can refer multiple "friends" who will each receive £125.

Also doesn't seem to be a cut-off date for being an "existing" customer for referring a friend?

If not, I am happy to become an existing customer again...

masonic

Zanderman said:

I think you're correct in saying there's nothing in the terms to disqualify previous account holders, or even previous beneficiaries of similar incentives. Which seems a little unusual.

There is, of course, the last sentence in the terms saying 

We reserve the right to decline your application. Where we decline your application, we will not make a payment to either the Recommender or Friend.

Which, if you only just switched away from them, might apply, if they have any joined-up thinking.

If they decline your application, that means they are not letting you open the current account you have applied for. It sits immediately under "5.1 Our accounts are subject to eligibility criteria, status and our lending policy". I would be very surprised if they wouldn't let someone open a new current account just because they are a previous account holder or benefited from a previous incentive.

MSE_Stephen

Hi everyone 

A quick reminder that exchanging referral codes on the forum is not permitted, whether publicly on a thread or by private message.

If you see a post that you think might break our rules, please use the 'report' button to bring it to our attention. 


Thanks

tryin

dcs34 said:

It's not clear but I assume the referrer can only receive the £125 once, but can refer multiple "friends" who will each receive £125.

Also doesn't seem to be a cut-off date for being an "existing" customer for referring a friend?

If not, I am happy to become an existing customer again...

Where do you see in the terms and conditions that the referer can only receive one payment?

RetSol

"Are there any limits to the offer?

There’s no limit to how many friends you can refer, so every eligible friend you refer will receive a £125 reward.

When will we receive our £125?

Once your friend has switched to their new Co-operative Bank account, and all the terms and conditions of the offer have been met, we’ll pay you both £125.".

Each new customer will cost the bank £250.

The bank will pull it when they've doled out enough £250s.

That's my reading of the ts and cs. 

grizzlegrizzle

I've referred a few friends so hoping this holds true 🤞

RetSol

I don't see a requirement to switch dds or to set them up subsequently. 

Am I missing anything? 

bristolleedsfan

RetSol said:

I don't see a requirement to switch dds or to set them up subsequently. 

Am I missing anything? 

No DD requirement.