Co Op Switch offer (seen 15th January 2024)

Ponchos

I saw that the Co Op Bank switching/referral offer had disappeared from the main MSE article a few weeks go but I've just been on their site and it seems like it's back, £100 for switching plus £50 for using the attached saving account. Just had a brief look so far (I currently have another switch in motion) but here's what I saw...



More details on the website, I didn't include them all in case this had already been posted (Apologies if this has already been mentioned elsewhere!). And I imagine this will appear on the main MSE thread before too long.

Zopa_Trooper

No refer a friend. 

dcs34

Excluded if you "have had, or be waiting to receive, any switch incentive from us since 1 November 2022".

T&C 1.5 "Has not previously benefitted as a new customer from this, or any previous Co-operative Bank current account switch offers since 01/11/2022. This includes if a Refer a Friend referral form has been submitted and is due to be paid after this offer was made available."

To my mind this seems to exclude people who had a referral bonus paid for opening and switching into a new account (i.e. they were being referred) but doesn't necessarily exclude those who got the £125 referral bonus paid to an existing accounts (because they referred other people), because they weren't new customers at the time and technically got a referral rather than switching incentive (although we know how Co-op like to interpret their own T&Cs!!). Does that read the same way to other people?

Also note the generous 2 Direct Debit or standing order requirement.

Annoyingly I got paid £125 for switching/being referred on 9th December 2022, so think I am excluded from this one!

Ponchos

Can confirm this has just appeared on the main MSE thread! :P

Nasqueron

Hurrah, easy jump from Barclays then

DD already setup and a savings account is easy peasy 

danny13579

dcs34 said:

Excluded if you "have had, or be waiting to receive, any switch incentive from us since 1 November 2022".

T&C 1.5 "Has not previously benefitted as a new customer from this, or any previous Co-operative Bank current account switch offers since 01/11/2022. This includes if a Refer a Friend referral form has been submitted and is due to be paid after this offer was made available."

To my mind this seems to exclude people who had a referral bonus paid for opening and switching into a new account (i.e. they were being referred) but doesn't necessarily exclude those who got the £125 referral bonus paid to an existing accounts (because they referred other people), because they weren't new customers at the time and technically got a referral rather than switching incentive (although we know how Co-op like to interpret their own T&Cs!!). Does that read the same way to other people?

This is how I read it too. If you switched into Co-op and got the switching bonus for doing so since November 2022 then you're not eligible. If you just referred people and didn't actually switch yourself since, then you are eligible. But we all know from here that Co-op interpret things very differently to the rest of us! 

worriednoob

I'm not too bothered about the £50 bonus, but for the £100 incentive, what is the quickest and easiest way of doing the 5 transactions?

poshrule_uk

I got my referral on 07/11/22 so just over annoyingly 

dcs34

worriednoob said:

I'm not too bothered about the £50 bonus, but for the £100 incentive, what is the quickest and easiest way of doing the 5 transactions?

5x £1 Amazon Giftcards?

Stargunner

Never had a Co-Op account, so I have just applied. 

Sumof999

just applied - can't wait to be rid of Barclays and I've already done TSB...  earliest it can switch is 9th Feb which is a long way off though!