Co Op Switch offer (seen 15th January 2024)

Nasqueron

harz99 said:

Nasqueron said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

So why not open another donor account and switch that? NatWest doesn't need any DD etc

Simply because she doesn't want to, we've both been doing this for years, and are both getting a bit jaded with the ever more complicated processes, and being well into our seventies are trying to simplify life and not juggle too many balls at once😉

Regardless of age, it takes literally minutes to set up a new account online with your own bank or someone like Monzo or Starling to donate and get £250 instead of £200

harz99

Nasqueron said:

harz99 said:

Nasqueron said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

So why not open another donor account and switch that? NatWest doesn't need any DD etc

Simply because she doesn't want to, we've both been doing this for years, and are both getting a bit jaded with the ever more complicated processes, and being well into our seventies are trying to simplify life and not juggle too many balls at once😉

Regardless of age, it takes literally minutes to set up a new account online with your own bank or someone like Monzo or Starling to donate and get £250 instead of £200

You've already been told that she doesn't want to set up another donor account...and in any case I cannot find anything in the offer T&C's that requires the current account to still be open to receive the £50, so we fully expect the end result to be plus £250 but that won't be confirmed for a while.

Nasqueron

harz99 said:

Nasqueron said:

harz99 said:

Nasqueron said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

So why not open another donor account and switch that? NatWest doesn't need any DD etc

Simply because she doesn't want to, we've both been doing this for years, and are both getting a bit jaded with the ever more complicated processes, and being well into our seventies are trying to simplify life and not juggle too many balls at once😉

Regardless of age, it takes literally minutes to set up a new account online with your own bank or someone like Monzo or Starling to donate and get £250 instead of £200

You've already been told that she doesn't want to set up another donor account...and in any case I cannot find anything in the offer T&C's that requires the current account to still be open to receive the £50, so we fully expect the end result to be plus £250 but that won't be confirmed for a while.

I didn't say she had to or that I was forcing her to, it's this is the MSE site - all about making money for us from the banks 

The terms are pretty clear that the qualifying saver accounts are exclusive to current account customers - if she switches away the current account, she is no longer a current account customer so the account could be closed and/or no incentive paid per condition 10:

10. We reserve the right to withhold any payment (or to reverse any payment already made) where we have reasonable grounds for suspecting you have sought to materially abuse or profiteer from the offer. For example, this may arise if we have grounds for believing that you have sought to engage in a marketing campaign.

End of the day, closing the account is a clear risk to the £50 per the Ts & Cs when a workaround is already there

harz99

Nasqueron said:

harz99 said:

Nasqueron said:

harz99 said:

Nasqueron said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

So why not open another donor account and switch that? NatWest doesn't need any DD etc

Simply because she doesn't want to, we've both been doing this for years, and are both getting a bit jaded with the ever more complicated processes, and being well into our seventies are trying to simplify life and not juggle too many balls at once😉

Regardless of age, it takes literally minutes to set up a new account online with your own bank or someone like Monzo or Starling to donate and get £250 instead of £200

You've already been told that she doesn't want to set up another donor account...and in any case I cannot find anything in the offer T&C's that requires the current account to still be open to receive the £50, so we fully expect the end result to be plus £250 but that won't be confirmed for a while.

I didn't say she had to or that I was forcing her to, it's this is the MSE site - all about making money for us from the banks 

The terms are pretty clear that the qualifying saver accounts are exclusive to current account customers - if she switches away the current account, she is no longer a current account customer so the account could be closed and/or no incentive paid per condition 10:

10. We reserve the right to withhold any payment (or to reverse any payment already made) where we have reasonable grounds for suspecting you have sought to materially abuse or profiteer from the offer. For example, this may arise if we have grounds for believing that you have sought to engage in a marketing campaign.

End of the day, closing the account is a clear risk to the £50 per the Ts & Cs when a workaround is already there

The qualifying accounts can only be opened by current account customers, however the current account doesn't have to remain open for the savings account to still be open according to the T&C's I've read relating to such savings accounts.

Regarding clause 10, yes of course it could be applied, however it could also be applied to all of us who take the main switch bonus and then don't use the account as you would expect of a main current account to pay their regular bills, keep a reasonable balance in, salary payin and so on...but that hasn't happened and in my view is unlikely to do so 

Largs

harz99 said:

Nasqueron said:

harz99 said:

Nasqueron said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

So why not open another donor account and switch that? NatWest doesn't need any DD etc

Simply because she doesn't want to, we've both been doing this for years, and are both getting a bit jaded with the ever more complicated processes, and being well into our seventies are trying to simplify life and not juggle too many balls at once😉

Regardless of age, it takes literally minutes to set up a new account online with your own bank or someone like Monzo or Starling to donate and get £250 instead of £200

You've already been told that she doesn't want to set up another donor account...and in any case I cannot find anything in the offer T&C's that requires the current account to still be open to receive the £50, so we fully expect the end result to be plus £250 but that won't be confirmed for a while.

The person was trying to help you is what i understood.  Not sure why you are seeing it as different.

harz99

Largs said:

harz99 said:

Nasqueron said:

harz99 said:

Nasqueron said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

So why not open another donor account and switch that? NatWest doesn't need any DD etc

Simply because she doesn't want to, we've both been doing this for years, and are both getting a bit jaded with the ever more complicated processes, and being well into our seventies are trying to simplify life and not juggle too many balls at once😉

Regardless of age, it takes literally minutes to set up a new account online with your own bank or someone like Monzo or Starling to donate and get £250 instead of £200

You've already been told that she doesn't want to set up another donor account...and in any case I cannot find anything in the offer T&C's that requires the current account to still be open to receive the £50, so we fully expect the end result to be plus £250 but that won't be confirmed for a while.

The person was trying to help you is what i understood.  Not sure why you are seeing it as different.

I wasn't asking for help, and my post at 3.02pm was self explanatory, the matter didn't need carrying on.

harz99

Antbingley said:

harz99 said:

My wife has today started a switch to RBS, her tracker saver is still open and funded, so we'll await further developments on that side...we decided that by the time her £50 Is paid in late March the NatWest group offer may be withdrawn, so rather than risk waiting, she'd prefer to have the £200 from them in the bag and chance not getting the £50.

As part of the switch to RBS, did your wife get to choose the switch date or did they pick one for you?

So my wife has had her new account opening confirmed, also today she's had an email saying that the switch has started and everything should be moved over by 5th March...so no choice of switch date was ever offered, seems they just do it asap.

Wesker

penny_less said:

Can I ask, are there many people who feel they have covered all of the criteria of the switch offer ie. switch, transferring  £1000 in, 2 standing orders, 5 debit card transactions, who haven’t received their £100 yet? I’m deciding whether to contact them as I’ve not got the payment yet....

I did everything I needed before the switch date, didn't get my £100, so I did everything again after switch date (£1000 was 3 smaller payments in and out) still nothing, so did the £1000 again in 1 payment and got payment next day.
Seems like as some have said earlier in this thread that the £1000 payment triggers the £100 but I had to do it 3 times 

harz99

Wesker said:

penny_less said:

Can I ask, are there many people who feel they have covered all of the criteria of the switch offer ie. switch, transferring  £1000 in, 2 standing orders, 5 debit card transactions, who haven’t received their £100 yet? I’m deciding whether to contact them as I’ve not got the payment yet....

I did everything I needed before the switch date, didn't get my £100, so I did everything again after switch date (£1000 was 3 smaller payments in and out) still nothing, so did the £1000 again in 1 payment and got payment next day.
Seems like as some have said earlier in this thread that the £1000 payment triggers the £100 but I had to do it 3 times 

Although it could be pure coincidence, it does seem as though the receipt of a £1k lump sum automatically triggers payment if the other criteria have been met, whereas several smaller amounts making up the £1k may need human intervention to trigger payment.

ukdutypaid

Has anybody else received and seen the latest mail from Co-op?

They've now included the Regular Saver as a qualifying savings account for the extra £50 and crucially this;

"f you have two open eligible savings accounts at the time of payment and have met the eligibility criteria*, we will pay the savings bonus into your most recently funded account."

Obvious seeming Pro: You get an extra £50, front loading onto the Reg Saver (unless the then change the T&Cs meaning one payment has to be max of £200

According to that, if you haven't yet opened a savings account that qualifies for the extra £50 then you makes your choice.....