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

soulsaver

StevenGude said:

Ed-1 said:

Hot off the press.

"4.1 We can withdraw this offer at any time and should we choose to do so, we will update our website with the final switching date on which we will honour any payments."

No idea where this info is.

My switch doesn't complete until 28th Dec and wife's until 3rd Jan... have we wasted our time?

I'm sure you'll be fine, particularly if those were the earliest switching dates they offered and initiated before the 'ending' announcement. I'd suggest you do the referral forms now that you know the completion dates. 

"2.1.3. complete the referral form contained on the offer webpage once you have your Co-operative Bank sort code, account number and switch end date;"

OH didn't wait for the switch to happen, filled the form with the given switch completion  date and we got the incentive 24hours after the switch.  

masonic

Aidanmc said:

I was wondering if this would qualify for the incentives?

John opened a current acc and started a switch on 10 Dec

Tom opens a current account and started a switch  on 12 Dec

Referral forms completed referring each other?

I pondered that early on in the thread, although where John and Tom opened their accounts on the same day. It would depend what checks are actually performed. It has worked for other bank incentives, but would be a risk. There's nothing in the T&Cs preventing it, but there was nothing in the terms stopping existing customers from switching out in order to open a new account and benefit from this offer.

clivep

masonic said:

Aidanmc said:

I was wondering if this would qualify for the incentives?

John opened a current acc and started a switch on 10 Dec

Tom opens a current account and started a switch  on 12 Dec

Referral forms completed referring each other?

I pondered that early on in the thread, although where John and Tom opened their accounts on the same day. It would depend what checks are actually performed. It has worked for other bank incentives, but would be a risk. There's nothing in the T&Cs preventing it, but there was nothing in the terms stopping existing customers from switching out in order to open a new account and benefit from this offer.

1.1 To be eligible for this offer, you must hold one of the following current accounts: Current Account, Current Account Plus, Privilege, Privilege Premier, Everyday Extra, Student Account or Cashminder. smile current accounts are not included in this incentive. We will not make payment to either you or your Recommended Friend should you attempt to participate in this offer without a qualifying current account. It is your responsibility as the Recommender to ensure that you meet the eligibility before extending this incentive to your Recommended Friend(s).

Surely Tom can't refer John in this example as Tom didn't hold an a/c when John opened his.

Aidanmc

@Alex9384 I was wondering if you received the incentive, I see in your OP that you had an existing account on 1 November?

Alex9384

Aidanmc said:

@Alex9384 I was wondering if you received the incentive, I see in your OP that you had an existing account on 1 November?

Yes, I received £50 for the previous referral offer.

I no longer have the Co-op account. Closed it just before the £125 offer popped up.

masonic

clivep said:

masonic said:

Aidanmc said:

I was wondering if this would qualify for the incentives?

John opened a current acc and started a switch on 10 Dec

Tom opens a current account and started a switch  on 12 Dec

Referral forms completed referring each other?

I pondered that early on in the thread, although where John and Tom opened their accounts on the same day. It would depend what checks are actually performed. It has worked for other bank incentives, but would be a risk. There's nothing in the T&Cs preventing it, but there was nothing in the terms stopping existing customers from switching out in order to open a new account and benefit from this offer.

1.1 To be eligible for this offer, you must hold one of the following current accounts: Current Account, Current Account Plus, Privilege, Privilege Premier, Everyday Extra, Student Account or Cashminder. smile current accounts are not included in this incentive. We will not make payment to either you or your Recommended Friend should you attempt to participate in this offer without a qualifying current account. It is your responsibility as the Recommender to ensure that you meet the eligibility before extending this incentive to your Recommended Friend(s).

Surely Tom can't refer John in this example as Tom didn't hold an a/c when John opened his.

Perhaps, although that depends on the rather ambiguous definition of "extending this incentive to your Recommended Friend(s)". Most recommenders have not provided their information to the person recommended until after that friend opened their account; some waiting until they are switched and ready to claim. One participates in the offer by having the recommended friend complete the form, so is that the point by which a qualifying account is needed, or earlier? That is not clear in the terms.

As far as I'm aware, nobody has applied for an account themselves and tried referring a friend who did likewise that same day, but it would be interesting to hear from anyone who did. There was plenty of scope in this offer for someone to agree to refer another prior to opening their own account. In some cases this would have been undetectable by Co-op, in others it could have slipped under the radar, so it depends exactly what they look at when making their decision.

AmityNeon

There is no explicit requirement of when the referrer must hold an eligible account. The safe (no risk) assumption would be that Co-op compares the referrer's account opening date with the referee's application date, verifying that the former predates the latter, perhaps narrowing the scope to time of day if necessary; however, this level of precision in implementation is not matched by their vague terms and conditions.

In my experience, applications always take at least one working day to process before accounts are opened, so even if two friends applied on the same day in the hopes of eventually referring each other, there is no guarantee their account opening dates would match.

bristolleedsfan

AmityNeon said:

In my experience, applications always take at least one working day to process before accounts are opened, so even if two friends applied on the same day in the hopes of eventually referring each other, there is no guarantee their account opening dates would match.

I applied on the evening of 1 November after seeing this thread posted, welcome letter with account number and sort code was dated 1 November ...

AmityNeon

bristolleedsfan said:

AmityNeon said:

In my experience, applications always take at least one working day to process before accounts are opened, so even if two friends applied on the same day in the hopes of eventually referring each other, there is no guarantee their account opening dates would match.

I applied on the evening of 1 November after seeing this thread posted, welcome letter with account number and sort code was dated 1 November ...

Were you a new customer?
When does your credit file say the account was opened?

bristolleedsfan

AmityNeon said:

bristolleedsfan said:

AmityNeon said:

In my experience, applications always take at least one working day to process before accounts are opened, so even if two friends applied on the same day in the hopes of eventually referring each other, there is no guarantee their account opening dates would match.

I applied on the evening of 1 November after seeing this thread posted, welcome letter with account number and sort code was dated 1 November ...

Were you a new customer?
When does your credit file say the account was opened?

New customer who previously had current account with them, just looked at date of letter that they posted with sortcode and account number on it ....