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

Bridlington1

Ghostcrawler said:

Bridlington1 said:

I'm switching my Co-op account to one of my Bank of Scotland accounts for the 3 month 0% overdraft. I'll then switch my second Bank of Scotland account back to Co-op after the switch completes to get the £125 refer a friend bonus.

Don't know if you will be considered as new customer.  Bank will still have your coop account details and yours.

It doesn't specify how new a new customer has to be. Once I've switched my Co-op account to Bank of Scotland I will have no accounts with Co-op. By this point if I wanted to apply for a Co-op account I would need to apply as a new customer, so I see no real reason as to why I would not be classed as a new customer. 

Once Co-op have paid up, the person who's referring me to Co-op is planning on doing the same, to get another £125.

Ghostcrawler

Ed-1 said:

Ghostcrawler said:

Bridlington1 said:

I'm switching my Co-op account to one of my Bank of Scotland accounts for the 3 month 0% overdraft. I'll then switch my second Bank of Scotland account back to Co-op after the switch completes to get the £125 refer a friend bonus.

Don't know if you will be considered as new customer.  Bank will still have your coop account details and yours.

They'll no longer "have" a Coop account (as opposed to "have ever held" one).

hmm, well you have a point. So switching out and then switching in would work it seems?

soulsaver

Asghar said:

Not another one, I've done so many this year between me and the other half.

I take it you could open an account today and then next week refer the other half and both receive the £125. If so then I'll have to give it a go.

Y if you've got a donor ac to switch in to that new acc and could get a referral, you could get yet another £125

Ghostcrawler

Bridlington1 said:

Ghostcrawler said:

Bridlington1 said:

I'm switching my Co-op account to one of my Bank of Scotland accounts for the 3 month 0% overdraft. I'll then switch my second Bank of Scotland account back to Co-op after the switch completes to get the £125 refer a friend bonus.

Don't know if you will be considered as new customer.  Bank will still have your coop account details and yours.

It doesn't specify how new a new customer has to be. Once I've switched my Co-op account to Bank of Scotland I will have no accounts with Co-op. By this point if I wanted to apply for a Co-op account I would need to apply as a new customer, so I see no real reason as to why I would not be classed as a new customer. 

Once Co-op have paid up, the person who's referring me to Co-op is planning on doing the same, to get another £125.

if this works then nothing like it, been with coop for 2 years now for monthyl reward, i think will try this once I have got money for referring others, hopefully this offer will be active by that time.

soulsaver

Ghostcrawler said:

poshrule_uk said:

How long do they generally take to pay out?

Done this when they were offering £50, me and my OH got £50 within few days after switch

"You’ll receive the payment within 60 days from the day the current account switch is completed, or from the day your friend submits their referral form; whichever is later."

They may take their time on this one.

Ghostcrawler

soulsaver said:

Ghostcrawler said:

poshrule_uk said:

How long do they generally take to pay out?

Done this when they were offering £50, me and my OH got £50 within few days after switch

"You’ll receive the payment within 60 days from the day the current account switch is completed, or from the day your friend submits their referral form; whichever is later."

They may take their time on this one.

for sure as there is no set time.  I was just sharing my experience.

bristolleedsfan

soulsaver said:

Ghostcrawler said:

poshrule_uk said:

How long do they generally take to pay out?

Done this when they were offering £50, me and my OH got £50 within few days after switch

"You’ll receive the payment within 60 days from the day the current account switch is completed, or from the day your friend submits their referral form; whichever is later."

They may take their time on this one.

Terms were the same when referral was £50 each, as others have said paid out within a few days of switch completing and referral claim form having been submitted

masonic

Ed-1 said:

masonic said:

Asghar said:

Not another one, I've done so many this year between me and the other half.

I take it you could open an account today and then next week refer the other half and both receive the £125. If so then I'll have to give it a go.

Nothing to prevent that in the T&Cs, so pairing up to refer each other seems to be the best option to each get £250. I'm just getting a new donor account ready and will then be looking to do just that.

There is (if the OH is referring you to start with) although it's not made clear in the terms which merely state "eligible new customer" without defining what one is. The webpage has this:

That's very surprising as nowhere within the full T&Cs does it state this is one of the requirements. It does define an "eligible new customer" in the terms as someone who fulfils all of 2.p.1 to 2.p.4:

Nowhere in the full terms does it have a statement corresponding to that on the landing page. It's going to be quite a minefield if they wish to enforce this term, which is not in the full T&C, particularly as:

pfpf

7 working days for a switch?

using my nationwide details it states earliest switch date is 8th December. using barclays its 30th November. anyone else getting long dates on a switch?

i'm concerned with such long lead times the offer will be pulled.

Asghar

masonic said:

Asghar said:

Not another one, I've done so many this year between me and the other half.

I take it you could open an account today and then next week refer the other half and both receive the £125. If so then I'll have to give it a go.

Nothing to prevent that in the T&Cs, so pairing up to refer each other seems to be the best option to each get £250. I'm just getting a new donor account ready and will then be looking to do just that.

I was thinking of just opening an new account for myself, never had a Co-op account before, but not switch into it.

Then a week later, refer the other half who opens an account and completes a current account switch to it. I get the £125 for referring and the other half for being recommened and completing a switch into the new account.

Attempting to refer each other might be too much and risky.