Co-op Regular Saver Not Appearing in Online Banking

MisterMotivated

Has anyone else had issues with the new Co-op 7% Regular Saver not showing up on their online banking?  I applied on Thursday when it went live, but couldn't do it from the online banking page as it wasn't showing on the list of accounts available to apply for, so I had to find the page on the main site and apply from there as though I was a new customer.  I know it's early days but my online saver account showed up almost instantly, and I've received a letter in the post quoting what appears to be the account number and sort code.  

I've sent a secure message to their support team but just wondered if anyone else had the same issue.

Bazzalona13295

A few of us have been provisionally accepted but 'further checks' are still being made so its not yet showing on the app. I'd give it a few more days.

GreenScepter

I've applied for 3 savings account from co-op (2 online savers and 1 regular saver) and none of them are showing. All were approved, they asked for additional ID which I uploaded a week ago online (no idea why they'd need it when I already have a current account). It's not showing in the app or online banking. Not best pleased with co-op.

35har1old

MisterMotivated said:

Has anyone else had issues with the new Co-op 7% Regular Saver not showing up on their online banking?  I applied on Thursday when it went live, but couldn't do it from the online banking page as it wasn't showing on the list of accounts available to apply for, so I had to find the page on the main site and apply from there as though I was a new customer.  I know it's early days but my online saver account showed up almost instantly, and I've received a letter in the post quoting what appears to be the account number and sort code.  

I've sent a secure message to their support team but just wondered if anyone else had the same issue.

On application it states it can take up to 5 days to find out if it was successful. 
Found it strange as most other providers are instantly available.
Also thought being asked if you wanted to setup a SO to a account that you might not be successful on opening also strange

MisterMotivated

That's the thing, I've already received an email confirming the application was successful.  I've also received a letter with account number and sort code for the account.  I find it strange that they can post a piece of paper to me quicker than they can get the account to show online, especially as my Online Saver appeared pretty much instantly

subjecttocontract

Let's face it the Co-Op are not and never have been at the cutting edge of banking, savings, or technology. Their performance is exactly what I had expected.....somewhere between mediocre and poor. Don't let your expectations disappoint you.

dealyboy

... compared to Santander  ...

On Thursday I applied for and was provisionally accepted for a standard current account in advance of applying for the regular saver ... I'm in their hands.

On Friday I applied for a Santander Edge account, two hours later I was accepted and I applied for the Edge Saver. I was immediately accepted so went online and saw the two accounts in online banking, moved £3,400 to the Edge current account and then on to the Saver account earning 7% AER.

subjecttocontract

Santander is much, much bigger than the Co-Op bank and has a wealth of experience with offering good market leading accounts. I believe this regular saver is the first time the Co-Op have made any attempt at offering an attractive interest rate on anything. I expect them to be slower.

dealyboy

@subjecttocontract said:

Santander is much, much bigger than the Co-Op bank and has a wealth of experience with offering good market leading accounts. I believe this regular saver is the first time the Co-Op have made any attempt at offering an attractive interest rate on anything. I expect them to be slower.

... fair point  .

WillPS

subjecttocontract said:

Santander is much, much bigger than the Co-Op bank and has a wealth of experience with offering good market leading accounts. I believe this regular saver is the first time the Co-Op have made any attempt at offering an attractive interest rate on anything. I expect them to be slower.

I don't think it's a consequence of them not offering market leading savings in recent history, I think it's a consequence of their systems being primitive and underdeveloped. They've offered linked savings accounts for as long as I've known them, and the process has always been slow and unnecessarily convoluted. Other banks used to be, including Abbey/Santander, but have invested in their systems to keep up with the market.

A further example can be found in the form of their Faster Payments, which are sent/credited on a 15 minute lag, compared to every other current account (other than Triodos) who manage to do them (almost) immediately. Again, there's never been a time in the modern era where they haven't offered a Current Account...

It's more likely a consequence of being starved of investment since their bailout; the intention was always to flip them (presumably to a buyer who wanted their book rather than their archaic banking system).

35har1old

WillPS said:

subjecttocontract said:

Santander is much, much bigger than the Co-Op bank and has a wealth of experience with offering good market leading accounts. I believe this regular saver is the first time the Co-Op have made any attempt at offering an attractive interest rate on anything. I expect them to be slower.

I don't think it's a consequence of them not offering market leading savings in recent history, I think it's a consequence of their systems being primitive and underdeveloped. They've offered linked savings accounts for as long as I've known them, and the process has always been slow and unnecessarily convoluted. Other banks used to be, including Abbey/Santander, but have invested in their systems to keep up with the market.

A further example can be found in the form of their Faster Payments, which are sent/credited on a 15 minute lag, compared to every other current account (other than Triodos) who manage to do them (almost) immediately. Again, there's never been a time in the modern era where they haven't offered a Current Account...

It's more likely a consequence of being starved of investment since their bailout; the intention was always to flip them (presumably to a buyer who wanted their book rather than their archaic banking system).

Santander has a summary page which is totally pointless as it only shows internal transfers.
You could have carried out numerous transfers to external accounts but this is not detailed.
Also they now have one of the weakest login processes