Co-operative Bank - dreadful!

icedms

I just opened a coop account to use to switch next year.  Applied on Tuesday received account number and sort code by email today.
I’m going to move my bills to this account including standing orders and direct debits and use the Santander for spending money and mortgage and salary.
I’m guessing it’s a good idea to advise recipients of DD’s and SO’s that my payments will be coming from a different account?

grumbler

icedms said:

I’m guessing it’s a good idea to advise recipients of DD’s and SO’s that my payments will be coming from a different account?

Why would recipients or SOs want to know?

DDs have to change automatically, but you can usually check this online and change if needed without contacting the recipients.

However, it's worth contacting those who PAY you money.

jbuchanangb

I took all my money out of the Co-op Bank at the time of the Crystal Methodist scandal, but continue to service the account with £11pm which provides worldwide travel insurance for me and my wife, insurance on both our mobile phones and free subscription to one of the credit reference agencies. Equifax I think. They insist on sending me a paper statement every month to show me the transactions!

[Deleted User]

jbuchanangb said:

I took all my money out of the Co-op Bank at the time of the Crystal Methodist scandal, but continue to service the account with £11pm which provides worldwide travel insurance for me and my wife, insurance on both our mobile phones and free subscription to one of the credit reference agencies. Equifax I think. They insist on sending me a paper statement every month to show me the transactions!

No, you can get it electronically if you so wish - like lots of other banks; you've simply not looked.

[Deleted User]

Yorkshire_Pud said:

Co op bank was 100% owned by the Co operative wholesale society until 2013.
Now owned 100% by a group of US hedge funds.
So from a genuinely ethical bank to a sales pitch of being ethical as a brand. May still do some good but the core of the bank no longer exists.
They are a uniquely weird mainstream bank as they seem to spend more of their time putting obstacles in their customers way than making their banking easier.

Ive got a complaint going, after initial acknowledgement about five weeks ago I’ve heard nothing since. Their refusal to let me open a current account was that there was information on my credit file from Equifax that meant they couldn’t offer me an account. Strange then that my Clear score /Equifax report states no hard searches for more than six months from any organisation?!

Sounds like they've scored your application and simply don't want you as a customer?!

robatwork

Yorkshire_Pud said:

Co op bank was 100% owned by the Co operative wholesale society until 2013.
Now owned 100% by a group of US hedge funds.
So from a genuinely ethical bank to a sales pitch of being ethical as a brand. May still do some good but the core of the bank no longer exists.

Ha!  They never were ethical. No bank is or ever has been, and I doubt we'll ever have one. People are people and all that.

If you wonder what I'm on about, google "Crystal Methodist". Whoever came up with that title needs a medal.

[Deleted User]

robatwork said:

Yorkshire_Pud said:

Co op bank was 100% owned by the Co operative wholesale society until 2013.
Now owned 100% by a group of US hedge funds.
So from a genuinely ethical bank to a sales pitch of being ethical as a brand. May still do some good but the core of the bank no longer exists.

Ha!  They never were ethical. No bank is or ever has been, and I doubt we'll ever have one. People are people and all that.

If you wonder what I'm on about, google "Crystal Methodist". Whoever came up with that title needs a medal.

They strictly speaking shouldn't even be called The Co-operative Bank as they've never actually been that form of business; they're a PLC. They obtained special dispensation from the UK Government when they were a wholly owned subsidiary of a Cooperative; not sure they have a valid reason anymore.