50p direct debits / STRIPE payment suspension

WESLEY196600

Hi all. I set up 2 x 50p direct debits as part of meeting the Co-Op switch criteria. I noticed no payments were taken in August and then I saw this on the 50p site. 

11/08/2024 - Unfortunately, due to a technical issue with our payment provider Stripe, we are unable to setup new direct debits. Also, all existing subscriptions have been suspended by Stripe, therefore no future payments will be taken. We will try to find another payment provider to work with, although this may take some time. I apologise for the inconvenience, but it is outside of our control. The suspension of Stripe account after many months of use was unexpected. In the meantime I hope you can find another Direct Debit for your bank switching.

With no payments taken in August I wonder if I have failed the £15 pcm benefit abd whether I can re_start this by finding a new provider this month?

Zanderman

WESLEY196600 said:

Hi all. I set up 2 x 50p direct debits as part of meeting the Co-Op switch criteria. I noticed no payments were taken in August and then I saw this on the 50p site. 

11/08/2024 - Unfortunately, due to a technical issue with our payment provider Stripe, we are unable to setup new direct debits. Also, all existing subscriptions have been suspended by Stripe, therefore no future payments will be taken. We will try to find another payment provider to work with, although this may take some time. I apologise for the inconvenience, but it is outside of our control. The suspension of Stripe account after many months of use was unexpected. In the meantime I hope you can find another Direct Debit for your bank switching.

With no payments taken in August I wonder if I have failed the £15 pcm benefit abd whether I can re_start this by finding a new provider this month?

What 50p site is (was) this?

Is this for the recent (July-August) switching offer for joining the Everyday Extra current account?

Yes, you can set up a different DD this month. And restart the monthly benefit if within the 6 months.

I'm confused though. You mention a £15 per month benefit? That switch offer has a £10 monthly benefit doesn't it? On a £15 month account fee? Is that worth it? 

If I recall correctly the only real gain from that switch was £100 upfront and, if you stayed 6 months and fulfilled the requirements (DDs etc) you had 2/3 of the fee refunded each of those 6 months.

WESLEY196600

Thanks for reply. The DDs were set up via the 50p direct debits service/website. 

The offer I am cuurently engaged with is this one. 

https://www.co-operativebank.co.uk/about-us/press-release/2024/the-co-operative-bank-launches-new-150-switch-and-save-offer/

Zanderman

WESLEY196600 said:

Thanks for reply. The DDs were set up via the 50p direct debits service/website. 

The offer I am cuurently engaged with is this one. 

https://www.co-operativebank.co.uk/about-us/press-release/2024/the-co-operative-bank-launches-new-150-switch-and-save-offer/

Thanks, my mistake, I assumed the different offer.

That offer does state

If you do not meet the eligibility criteria for one of the months, you can still qualify for the £15 incentive payment in the remaining months.

So yes, in answer to your question about restarting the £15, you should be able to restore the benefit as long as you get another DD sorted out.

I still don't know which 50p DD website you mean though.

HillStreetBlues

As above you can still get the reward for all months you qualify.
I used 30p DD  a month ago but stopped as don't need it now.

Nasqueron

I found the easiest way was simply to use legitimate DDs - mobile phone contract and an old credit card I occasionally put a quid on spending to keep it active. Move money into the account every month for the phone and if needed for the card, no messing around with pretend DDs for 30p or 50p

PRAISETHESUN

I also prefer to shuffle around existing household bill DDs, especially for long-term on-going rewards. But for quick and dirty DDs for switch incentives, I normally use MoneyBox, Plum, Currensea and PayPal. No need to actually spend any money with these. Plenty of other good alternatives discussed here: https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

WillPS

Nasqueron said:

I found the easiest way was simply to use legitimate DDs - mobile phone contract and an old credit card I occasionally put a quid on spending to keep it active. Move money into the account every month for the phone and if needed for the card, no messing around with pretend DDs for 30p or 50p

The problem is these often won't actually be setup until the next billing cycle occurs. Same for the handful of savings accounts that allow DDs (Moneybox/Plum aside). Moneybox and Plum are tied up for many on an ongoing basis for Natwest/RBS reward accounts.

Sometimes you can wait, sometimes that feels more of a risk than 30p/60p is worth.

Nasqueron

WillPS said:

Nasqueron said:

I found the easiest way was simply to use legitimate DDs - mobile phone contract and an old credit card I occasionally put a quid on spending to keep it active. Move money into the account every month for the phone and if needed for the card, no messing around with pretend DDs for 30p or 50p

The problem is these often won't actually be setup until the next billing cycle occurs. Same for the handful of savings accounts that allow DDs (Moneybox/Plum aside). Moneybox and Plum are tied up for many on an ongoing basis for Natwest/RBS reward accounts.

Sometimes you can wait, sometimes that feels more of a risk than 30p/60p is worth.

Have them setup on a donor account and leave the others on NatWest or whatever, least that way you can switch with them rather than hope a service like this stays around

WillPS

Nasqueron said:

WillPS said:

Nasqueron said:

I found the easiest way was simply to use legitimate DDs - mobile phone contract and an old credit card I occasionally put a quid on spending to keep it active. Move money into the account every month for the phone and if needed for the card, no messing around with pretend DDs for 30p or 50p

The problem is these often won't actually be setup until the next billing cycle occurs. Same for the handful of savings accounts that allow DDs (Moneybox/Plum aside). Moneybox and Plum are tied up for many on an ongoing basis for Natwest/RBS reward accounts.

Sometimes you can wait, sometimes that feels more of a risk than 30p/60p is worth.

Have them setup on a donor account and leave the others on NatWest or whatever, least that way you can switch with them rather than hope a service like this stays around

If they earn money elsewhere though (as utility, broadband, TV and mobiles do on Santander 123/Edge as well as council tax) that'll cost far more than 60p in lost cashback. For us, that really just leaves credit cards which are too variable an amount to comfortably live on a sleeper/burner account.

born_again

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