Coventry BS bids for the Co-op Bank

WillPS

jackjones01 said:

I know it’s early days but I wonder what they’ll do with smile. 

Interesting isn't it. I wonder if they'll continue to have rights to the 'co-operative' name, even.

jameseonline

jackjones01 said:

I know it’s early days but I wonder what they’ll do with smile. 

Is smile relevant these days though?🤔, doesn't seem so from what I've seen

boingy

The Smile brand has fallen so far from grace that they will quietly retire it if they have any sense. Once a market pioneer but now under resourced and unloved.  

EarthBoy

The sooner they close Smile the better; it's fit for nothing.

gsmh

jackjones01 said:

I know it’s early days but I wonder what they’ll do with smile. 

Santander kept the cahoot brand - now used for savings products. Having an alternative brand is helpful to the company to avoid diluting the main brand. Santander offers higher savings rates through cahoot and cahoot is not seen by the public as Santander and would not come up when searching for Santander interest rates.

Grizebeck

So would that mean in a few years down the line coventry offer payment cards again as they scrapped them

Stuart_W

The only reason smile would have been kept would be to keep name options open for future owners as the co-op name may be needed to be dropped. I imagine everything will eventually be under one brand but Coventry and Co-op both have a long heritage so it will be done very carefully and sensitively. Co-op have only recently finished integrating Britannia. 

Vintagebrit

I've been hugely disappointed with the Coop for the last 15 years. First scandals, then all the rewards disappeared. Now it takes them 3 months to answer a letter. They harp on about ethical behaviour. I've seen little of it. I have a mortgage so that's why I haven't moved.
(They were good to provide the mortgage and were one of the only banks to do the Government Scheme but since then, it's all gone pear-shaped).
Unsure how my Mortgage will be affected.
I've heard nothing from the Coop about the takeover. 

subjecttocontract

I have a CoOp Everyday Extra Account. I opened it only to benefit from their offer of travel insurance, car breakdown cover & mobile phone insurance for £15 a month.

I've also got their 7% regular saver. Nothing else they offer is remotely beneficial to me.

friolento

subjecttocontract said:

I have a CoOp Everyday Extra Account. I opened it only to benefit from their offer of travel insurance, car breakdown cover & mobile phone insurance for £15 a month.

I've also got their 7% regular saver. Nothing else they offer is remotely beneficial to me.

Much like you, I also have the Everyday Extra account, mainly for the insurance which is a fantastic deal for me. I also have their RS, and they recently paid me £150 to switch a spare current account to them and to open a savings account that I don't use. There are banks which provide me with a lot less / nothing at all, so I am not complaining. I just hope the Coventry won't ditch the insurance.