Co Op Switch offer (seen 15th January 2024)

worriednoob

dcs34 said:

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?

Thanks @dcs34 - Regarding the direct debits - Do these need to have already been setup in the previous account or can these be setup with Co-op after the switch has taken place?

changearound1

worriednoob said:

dcs34 said:

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?

Thanks @dcs34 - Regarding the direct debits - Do these need to have already been setup in the previous account or can these be setup with Co-op after the switch has taken place?

From the T&Cs:

''has at least 2 active direct debits or standing orders in place on the eligible account at

the point of payment (this can include any that are transferred as part of the switch)''

Stargunner

worriednoob said:

dcs34 said:

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?

Thanks @dcs34 - Regarding the direct debits - Do these need to have already been setup in the previous account or can these be setup with Co-op after the switch has taken place?

1.3 In the 30 days following the switch completion date:

a) has deposited at least £1,000 into the eligible account (this can be transferred as part of the switch and/or by one or more deposits);

b) has at least 2 active direct debits or standing orders in place on the eligible account at the point of payment (this can include any that are transferred as part of the switch);

Birdman2015

Rather ominously, I applied and got a message saying I’d get a decision within 24 hours. Anyone else got this?

Stargunner

Birdman2015 said:

Rather ominously, I applied and got a message saying I’d get a decision within 24 hours. Anyone else got this?

I got the same and an hour later I got another email saying

Thanks for applying for a Current Account.

We're delighted to tell you that subject to a few formalities, we've approved your application.

Once we have everything we need, you'll receive the paperwork and information for your new account within a few days.

jackjones01

Do co-op do instant decisions? 

Bazzalona13295

Glad I've seen this, just need to sort an ongoing dispute out with Barclays and I'm out of there.

PRAISETHESUN

For anyone interested, @Bridlington1 has created a great thread if anyone is looking for ideas to artificially generate DDs or debit card spend to meet the terms of this and other switch offers: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

boingy

Based on the shenanigans we saw with their "refer a friend" offer I'm a little wary of this part of the switching conditions:

"Complete a full Current Account Switch from your main current account with another bank to one of the eligible accounts".

Quite how they would decide whether it is your main account I'm not sure.

But I'll give it a go anyway.

Zanderman

boingy said:

Based on the shenanigans we saw with their "refer a friend" offer I'm a little wary of this part of the switching conditions:

"Complete a full Current Account Switch from your main current account with another bank to one of the eligible accounts".

Quite how they would decide whether it is your main account I'm not sure.

But I'll give it a go anyway.

That terminology of 'main account' is fairly normal and has been used for years for switching offers. Many suggest the switched account should be your 'main' one. It's not definable and, afaik, is not enforceable and has not ever, afaik, been enforced. Not something I'd worry about.