Co-Op withdrawing Everyday Rewards

surreysaver

Should save me some time each month 

dealyboy

... and the 2nd to last paragraph implies they're going to keep their RS at 7% for a while, calling it "7% Regular Saver".

jameseonline

Withdrawing a poop product?, lol

surreysaver

jameseonline said:

Withdrawing a poop product?, lol

Well, it earns me £2.20 more a month than zero 🤷‍♂️ And the fact I already had an account saved having to faff around opening one to obtain the regular saver 

jameseonline

surreysaver said:

jameseonline said:

Withdrawing a poop product?, lol

Well, it earns me £2.20 more a month than zero 🤷‍♂️ And the fact I already had an account saved having to faff around opening one to obtain the regular saver 

CO Operative Bank aren't a proper bank it's obvious in the way they do things.

£2.20 a month really isn't much though is it?

Think TSB & others do a similar thing but don't understand why.

There was no faff getting their current account only the Regular Savings account because they couldn't handle the demand.

I even opened other CO Operative Bank savings products successfully before my Regular Savings account got sorted.

The Regular Savings account was applied for before applying for the other savings accounts.

WillPS

I can see why they dropped it. If you already met the qualifying criteria for the £2.20 then obviously it was worth having, but I can't see why it would have incentivised anyone who didn't already. Even in its earlier guises where the payments were higher and less debit card transactions were required, I could never be bothered with it as it felt like a faff.

surreysaver

Well, it earns me £2.20 a month more than if I was just sitting there watching more rubbish on YouTube.

jameseonline

I just hope CO Operative Bank actually do focus on better products amongst other things because I wouldn't have joined them had it not been for the Regular Savings account.

Literally no reason to join them up until now.

Just checked TSB, £5 a month cashback for 6 months if you on spend & save or all the time on spend & save plus, but spend and save plus has a £3 fee 🙄😏😂🤣

friolento

jameseonline said:

 

Literally no reason to join them up until now.

I had their Everyday Extra account before, exclusively for the travel/moble/breakdown insurance that comes with it. For over 70 year olds, it's probably the best packaged account in the market.

Nothing can deflect from the fact that their account opening process is treacle slow, and that their CS is not the best, but as they have now given me a £150 switch bonus, I'll let them off the hook

nottsphil

jameseonline said:

Just checked TSB, £5 a month cashback for 6 months if you on spend & save or all the time on spend & save plus, but spend and save plus has a £3 fee 🙄😏😂🤣

I have a Classic Plus current account but have not used the debit card for several months. If I just start using it again for purchases do I get this 5 pounds automatically? I've just asked this question to their not-so-Smart Assistant on their app but it's too complicated for it!

I also have a standard Co-op current account and app but can see no mention of this scheme whatsoever. 

boingy

Their base rate tracker is true comedy. It's tiered depending upon the balance and the lowest tier (£1 to £10k) tracks at 3% below the base rate! Even at £50K you are still 1.5% below base.

Full table here:

Base Rate Tracker | Savings Accounts | The Co-operative Bank