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

grumbler

I vaguely remember that I needed the card details.

And they do say that you need it - https://www.co-operativebank.co.uk/products/bank-accounts/switch-to-us/

andyhicks88

How long does it take for them to pay out after you are referred and switch?

bristolleedsfan

andyhicks88 said:

How long does it take for them to pay out after you are referred and switch?

Next working day for most referred switches, early - mid afternoon .....

If someone claims referral later in the day pays out on 2nd working day after switch completion.

andyhicks88

What are the current switch waiting times? Do you think if I applied today I'd get the switch done and hopefully bonus paid by the end of the year?  I guess though there might be delays this time of year with xmas and the bank holidays/

Bridlington1

andyhicks88 said:

What are the current switch waiting times? Do you think if I applied today I'd get the switch done and hopefully bonus paid by the end of the year?  I guess though there might be delays this time of year with xmas and the bank holidays/

I think it would be a struggle to get it done by the end of the year. I applied for my Co-op account on 15/11 and the switch completed on 9/12, which was the earliest possible switch date. I reckon if you applied today it would be done by the end of the first week of January at the earliest.

StevenGude

andyhicks88 said:

What are the current switch waiting times? Do you think if I applied today I'd get the switch done and hopefully bonus paid by the end of the year?  I guess though there might be delays this time of year with xmas and the bank holidays/

It takes them a solid 3 weeks
Wife applied a couple of days ago with switch on 3rd Jan 

youngretired

Can anyone that had received the £50 refer a friend previously for switching, confirm that they have received the £125 this time?

I know Masonic had said they'd received the £50 previously and their switch was due to complete beginning of December and also Bridlington1 had received the £50 and new switch completed last Friday (so too early to report).

I told my sister to do this and I originally referred her April 2022 under the £50 (she's closed this acc), but just re-read about only receiving 1 referral (but I'd originally read this as meaning under this new Refer a friend T&C's) so thought I'd doublecheck.

Bridlington1

youngretired said:

Can anyone that had received the £50 refer a friend previously for switching, confirm that they have received the £125 this time?

I know Masonic had said they'd received the £50 previously and their switch was due to complete beginning of December and also Bridlington1 had received the £50 and new switch completed last Friday (so too early to report).

I told my sister to do this and I originally referred her April 2022 under the £50 (she's closed this acc), but just re-read about only receiving 1 referral (but I'd originally read this as meaning under this new Refer a friend T&C's) so thought I'd doublecheck.

The wording is slightly ambiguous regarding what a "new customer" is. In the previous offer it specified that you couldn't get the offer if you'd already received a refer a friend bonus since a specific date. This current offer includes no such term. All it really says regarding what a "new customer" is is:

To qualify for this offer as an eligible new customer you must:

2.p.1. open a new Co-operative Bank standard Current Account or Everyday Extra Account"

I see no reason why those of us who have already received the £50 before can't get the £125 this time, other than if Co-op decline your current account application for whatever reason. Once you've received your £125 there is also nothing to stop you switching your Co-op account elsewhere, then restarting the whole process and keep going. It is clearly an unintended loophole, which I intend to exploit.

I shall of course let you all know when Co-op pay up.

bristolleedsfan

youngretired said:

Can anyone that had received the £50 refer a friend previously for switching, confirm that they have received the £125 this time?

Couple of people I referred £50 offer also got £125 payment 

dcs34

youngretired said:

Can anyone that had received the £50 refer a friend previously for switching, confirm that they have received the £125 this time?

I know Masonic had said they'd received the £50 previously and their switch was due to complete beginning of December and also Bridlington1 had received the £50 and new switch completed last Friday (so too early to report).

I told my sister to do this and I originally referred her April 2022 under the £50 (she's closed this acc), but just re-read about only receiving 1 referral (but I'd originally read this as meaning under this new Refer a friend T&C's) so thought I'd doublecheck.

I qualified for the previous offer (possibly twice, as a referee and referrer).

In the meantime I have since switched the Co-op account, so whilst I still had an online profile, I had no Co-op account.

Current referral offer successfully paid for switching and opening a new Co-op account (which has appeared in the existing online profile, so they clearly know I'm the same person).

My reading of the current T&Cs was that referees will only be eligible for the payment once, but as the previous referral scheme was for a different amount, they seem to be treated as different things.