Co Op Switch offer (seen 15th January 2024)

friolento

If like me you had your £50 savings bonus deposited by the COOP into your COOP Regular Saver, please check your accounts. I had already deposited my £250 into the RS for the month when they credited the £50, and just noticed they have now moved £300 from my RS into my COOP current account. 

Rather than having a long frustrating discussion with the COOP CS, I have now moved £250 back into my RS and withdrawn the remaining £50 out of the COOP. I need to double-check that they don’t mess about further with my RS but hope they won’t. If they do, I obviously will have to talk to them.


EDIT: 2 days on, my RS balance has not been touched again by the COOP. I keep monitoring it.

FishInGlass

friolento said:

If like me you had your £50 savings bonus deposited by the COOP into your COOP Regular Saver, please check your accounts. I had already deposited my £250 into the RS for the month when they credited the £50, and just noticed they have now moved £300 from my RS into my COOP current account. 

Rather than having a long frustrating discussion with the COOP CS, I have now moved £250 back into my RS and withdrawn the remaining £50 out of the COOP. I need to double-check that they don’t mess about further with my RS but hope they won’t. If they do, I obviously will have to talk to them.

Thanks for the warning. I have just moved a further £5 from my current account to my online saver before my £50 arrives. I have already funded the regular saver with £500 for February and March. That should trigger the bonus being paid into the savings account and avoiding all the hassle you have had. Fingers crossed.

fabsaver

friolento said:

If like me you had your £50 savings bonus deposited by the COOP into your COOP Regular Saver, please check your accounts. I had already deposited my £250 into the RS for the month when they credited the £50, and just noticed they have now moved £300 from my RS into my COOP current account. 

Rather than having a long frustrating discussion with the COOP CS, I have now moved £250 back into my RS and withdrawn the remaining £50 out of the COOP. I need to double-check that they don’t mess about further with my RS but hope they won’t. If they do, I obviously will have to talk to them.

I've just checked and discovered they moved the excess £50 of mine into my current account on Monday. If you hadn't posted that money might have been stuck in my current account earning no interest for weeks 

No communication about it whatsoever and they don't seem to be treating customers consistently. Another badly thought out scheme from them.

ArGee68

friolento said:

If like me you had your £50 savings bonus deposited by the COOP into your COOP Regular Saver, please check your accounts. I had already deposited my £250 into the RS for the month when they credited the £50, and just noticed they have now moved £300 from my RS into my COOP current account. 

Rather than having a long frustrating discussion with the COOP CS, I have now moved £250 back into my RS and withdrawn the remaining £50 out of the COOP. I need to double-check that they don’t mess about further with my RS but hope they won’t. If they do, I obviously will have to talk to them.

Thanks for posting.  I have just checked my COOP accounts and they have moved the £50 bonus today from the Regular saver to my base rate tracker savings account.  I also have received no communication about this and it appears to be luck of the draw as to how they are dealing with this bonus.

Ashen

I got a letter today telling me I had exceeded the deposit amount for the Regular Saver, very confusing until I logged in and worked out why.

In my case they seem to have moved the £50 into the Online Saver I opened initially to quality for the switch offer.

bobeschism

harz99 said:

jpsman said:

Anyone know if we need to keep the current account open to retain the RS?

I'm due the £50 incentive into my Co-op RS on 29 March, but I'm considering switching out the Co-op current account for the Santander £185 switch offer.

Nothing in the terms that requires you to have an open current account to continue holding your RS. 

I think my wife is the only one on here who's kept her saver and also closed (switched out) her current account, she's now just waiting to receive the £50 bonus (or maybe a discussion with the bank if they don't pay that bonus within the 60 days).

Not the only one. I also switched my current after I opened the Saver for the £50 bonus. Will find out on Sunday if they pay out.

anna42hmr

has any one received the saving payment out despite switching the current account out before it has been paid? i remember a few said they were going to move out so wondering if it worked?

harz99

bobeschism said:

harz99 said:

jpsman said:

Anyone know if we need to keep the current account open to retain the RS?

I'm due the £50 incentive into my Co-op RS on 29 March, but I'm considering switching out the Co-op current account for the Santander £185 switch offer.

Nothing in the terms that requires you to have an open current account to continue holding your RS. 

I think my wife is the only one on here who's kept her saver and also closed (switched out) her current account, she's now just waiting to receive the £50 bonus (or maybe a discussion with the bank if they don't pay that bonus within the 60 days).

Not the only one. I also switched my current after I opened the Saver for the £50 bonus. Will find out on Sunday if they pay out.

I doubt you'll hear until Monday afternoon as iirc Co-op don't make any bonus payments over the weekend.

PRAISETHESUN

Got an email this morning saying my savings bonus has been paid, but I'm not actually expecting to receive it until Mon. Current account still open.

overspender22

My £50 savings bonus was paid in this morning! So they do pay on weekends