Co Op Switch offer (seen 15th January 2024)

boingy

jaxxx said:

I too can't wait to get away from Barclays - a complete shambles when opening and switching but incentive eventually paid.  

However, as some have commented above, I'm just applying for new Co-op current account but hesitated when I got to the bit where they ask for details of any current account you already have.  If I put in my Barclays and the date it was opened it obviously highlights on screen the account has only been open 2 months. Would that affect Co-op's decision to accept me as a new customer?  I'm reluctant to put my main bank account that I've had for several years and that my salary is paid into, in case that ends up being the account I have to switch, which I don't want to.  

Do you have to do the switch at the same time as the application for the Co-op new account?  Or can you do it after the new account is open, which would mean I could enter my main bank account in the application (thus showing I have had a current account for many years and not just 2 months), but switch the Barclays account for the incentive a day later?

Advice appreciated.

You can put your real main account in that bit. When you get to the switch page it starts with those account details but you can edit them.

friolento

For the last 4 years, I have been holding a qualifying COOP current account which has monthly transactions but I don't have any of their savings accounts. I just applied for the Online Saver, and they say they will be in touch within 5 working days either with a decision about my application, or a request for more information. Give me strength!


UPDATE: just had another email advising "We are delighted to tell you that your application has been approved.In the next few days you'll receive the paperwork and information for your new account.". Arrgh. I don't want any paperwork, just the account showing online would do nicely. I suppose it will show in the morning.

boingy

friolento said:

For the last 4 years, I have been holding a qualifying COOP current account which has monthly transactions but I don't have any of their savings accounts. I just applied for the Online Saver, and they say they will be in touch within 5 working days either with a decision about my application, or a request for more information. Give me strength!

You still have to earn the switching incentive to qualify for the "add-on" savings bonus so you'll need to switch a current account in and meet the other criteria..

We will pay the sum of £50 to an Eligible Customer who meets the offer criteria and eligibility in Section B, on or after 15/01/2024 until this offer is withdrawn. In Section B of these terms an ‘Eligible Customer’ means any applicant who:

3.1 Has successfully qualified for and received payment of the £100 Switch Incentive in section A

friolento

boingy said:

friolento said:

For the last 4 years, I have been holding a qualifying COOP current account which has monthly transactions but I don't have any of their savings accounts. I just applied for the Online Saver, and they say they will be in touch within 5 working days either with a decision about my application, or a request for more information. Give me strength!

You still have to earn the switching incentive to qualify for the "add-on" savings bonus so you'll need to switch a current account in and meet the other criteria..

We will pay the sum of £50 to an Eligible Customer who meets the offer criteria and eligibility in Section B, on or after 15/01/2024 until this offer is withdrawn. In Section B of these terms an ‘Eligible Customer’ means any applicant who:

3.1 Has successfully qualified for and received payment of the £100 Switch Incentive in section A

Thanks, yes, I know that a successful switch etc are the pre-req for the savings bonus.

DJSINGH

jaxxx said:

I too can't wait to get away from Barclays - a complete shambles when opening and switching but incentive eventually paid.  

However, as some have commented above, I'm just applying for new Co-op current account but hesitated when I got to the bit where they ask for details of any current account you already have.  If I put in my Barclays and the date it was opened it obviously highlights on screen the account has only been open 2 months. Would that affect Co-op's decision to accept me as a new customer?  I'm reluctant to put my main bank account that I've had for several years and that my salary is paid into, in case that ends up being the account I have to switch, which I don't want to.  

Do you have to do the switch at the same time as the application for the Co-op new account?  Or can you do it after the new account is open, which would mean I could enter my main bank account in the application (thus showing I have had a current account for many years and not just 2 months), but switch the Barclays account for the incentive a day later?

Advice appreciated.

Ive been accepted and only had barclays 2 months which is being used to switch so youll be fine

Nasqueron

jaxxx said:

I too can't wait to get away from Barclays - a complete shambles when opening and switching but incentive eventually paid.  

However, as some have commented above, I'm just applying for new Co-op current account but hesitated when I got to the bit where they ask for details of any current account you already have.  If I put in my Barclays and the date it was opened it obviously highlights on screen the account has only been open 2 months. Would that affect Co-op's decision to accept me as a new customer?  I'm reluctant to put my main bank account that I've had for several years and that my salary is paid into, in case that ends up being the account I have to switch, which I don't want to.  

Do you have to do the switch at the same time as the application for the Co-op new account?  Or can you do it after the new account is open, which would mean I could enter my main bank account in the application (thus showing I have had a current account for many years and not just 2 months), but switch the Barclays account for the incentive a day later?

Advice appreciated.

Lots of people switch accounts in and out even after a few days and you are free to move things around as part of a free country. As you were unhappy with Barclays, I see no reason why you shouldn't leave them again shortly after given Co-Op is offering a good deal. 

On your specific question, no-one on here works for, or can speak for, Co-Op in an official capacity so the answer would be either to wait for someone who switched a Barclays account to feed back that it worked or try and switch yourself and see (or leave it a bit longer and gamble they won't withdraw it)

harz99

Just started wife's Nationwide to Co-op switch, hopefully it works unlike Barclays which she couldn't get beyond the facial recording bit. My Barclays has already gone to my existing Nationwide Flexplus for the £200, and I'm not going to be switching that out. So it looks like just the £100 or £150 this time.

jaxxx

Update to above.  Facebook chat with Co-op said it didn't matter which bank account I entered on the application form.  I continued application putting my main account in and then got to a page where I was asked if I wanted to switch.  Said Yes. Do you want to switch this account?  Said No.  Then able to enter details of Barclays account.  All went through and now awaiting confirmation of acceptance.  Fingers crossed.

worriednoob

Stargunner said:

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);

Sorry for being so thick Stargunner, so does that mean I'm okay to switch from my Lloyds current account which has no DDs and that I can set these up later once the switch is complete?

Stargunner

worriednoob said:

Stargunner said:

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);

Sorry for being so thick Stargunner, so does that mean I'm okay to switch from my Lloyds current account which has no DDs and that I can set these up later once the switch is complete?

Yes, that is fine to do. Standing orders are also acceptable and it is easy to set a couple of those up just paying yourself into other accounts that you have.