Co Op Switch offer (seen 15th January 2024)

jpsman

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

jaxxx

jpsman said:

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

Not sure what you mean by " how would they then put the £50 into that without violating the £250 max"?

PRAISETHESUN

jaxxx said:

jpsman said:

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

Not sure what you mean by " how would they then put the £50 into that without violating the £250 max"?

Regular saver account is max deposit of £250/month. The RS is a qualifying account for the £50 savings bonus, which means that when it gets paid out in 45 days after the switch, the £50 savings bonus will be paid into the RS account.

I suspect in this instance they will just do something on their end to make it happen (there's nothing to say they can't make a deposit to bring you above £250/month, only that *you* can't do it) or they'll pay it into your current account.

Bridlington1

PRAISETHESUN said:

jaxxx said:

jpsman said:

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

Not sure what you mean by " how would they then put the £50 into that without violating the £250 max"?

Regular saver account is max deposit of £250/month. The RS is a qualifying account for the £50 savings bonus, which means that when it gets paid out in 45 days after the switch, the £50 savings bonus will be paid into the RS account.

I suspect in this instance they will just do something on their end to make it happen (there's nothing to say they can't make a deposit to bring you above £250/month, only that *you* can't do it) or they'll pay it into your current account.

I've just spoken to them and they have confirmed that the money would still be paid into the regular saver, regardless of any money you've paid into the account already so you would in effect have one month in which you could have £300 being paid into the regular saver.

E_zroda

Bridlington1 said:

PRAISETHESUN said:

jaxxx said:

jpsman said:

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

Not sure what you mean by " how would they then put the £50 into that without violating the £250 max"?

Regular saver account is max deposit of £250/month. The RS is a qualifying account for the £50 savings bonus, which means that when it gets paid out in 45 days after the switch, the £50 savings bonus will be paid into the RS account.

I suspect in this instance they will just do something on their end to make it happen (there's nothing to say they can't make a deposit to bring you above £250/month, only that *you* can't do it) or they'll pay it into your current account.

I've just spoken to them and they have confirmed that the money would still be paid into the regular saver, regardless of any money you've paid into the account already so you would in effect have one month in which you could have £300 being paid into the regular saver.

I was told by the chap that opened the account for me that the RS was supposed to be included in the qualifying accounts for the £50 but wasn't ready at the time - and then because the demand for the switch forced them to pull the CA offer so quickly (apparently there was a pre-determined number of how many switch offers they wanted to offer) , it all looks a bit disjointed now.

Sumof999

quickest switch pay out ever love it!  did the £1000 in and out again on the same day no hitches at all.  Did 5 x debit card transactions Weds PM took 2 days to clear in app which was annoying but email this morning confirming £100 paid and showed in app about an hour later - happy days

pedrodelgado

jpsman said:

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

Thing to remember though , it probably means you'll be tied to CO OP for 12 months so if any switches come along that would rule out moving CO OP account. I presume the RS would be linked to having a CA?

pedrodelgado

harz99 said:

jpsman said:

Ballard said:

The card didn’t work on the bus yesterday but I used Apple Pay to buy a banana 

 A lot of people on here getting their five a day thanks to the Co-op 👍😂

No five a day for us, pork pie from Taylors twice, bread and TV guide from Co-op once, and finally weekend shop from Aldi, all normal stuff done over 5 days...not a banana in sight😁.

Bet that cost more than my 5 bananas for total of 76p though 

harz99

pedrodelgado said:

harz99 said:

jpsman said:

Ballard said:

The card didn’t work on the bus yesterday but I used Apple Pay to buy a banana 

 A lot of people on here getting their five a day thanks to the Co-op 👍😂

No five a day for us, pork pie from Taylors twice, bread and TV guide from Co-op once, and finally weekend shop from Aldi, all normal stuff done over 5 days...not a banana in sight😁.

Bet that cost more than my 5 bananas for total of 76p though 

Oh it did, but it was just our normal shopping that we would've done anyway,which bananas wouldn't have been, so very very MSE😏

Middle_of_the_Road

pedrodelgado said:

jpsman said:

Co-op today have launched the new 7% Regular Saver £250/month, which is eligible for the £50 savings bonus part of this switch.

I'm thinking of opening one, but how would they then put the £50 into that without violating the £250 max? So I think I'll keep open my Base Rate Tracker as well to receive the £50!

The Co-op Regular Saver: https://www.co-operativebank.co.uk/products/savings/regular-saver/

Thing to remember though , it probably means you'll be tied to CO OP for 12 months so if any switches come along that would rule out moving CO OP account. I presume the RS would be linked to having a CA?

Yes, to get the regular saver, you have to hold a current account. I'm glad they launched the reg.saver, as I had no use for this current account otherwise, now I have. 8 of 12 held only for access to reg.savers