Co-op Bank Everyday Extra - free for 3 months

WillPS

Potentially of interest to those affected by Nationwide FlexPlus price hike, Co-operative Bank are offering a fee reimbursement for 3 months on their Everyday Extra account if the application is received before November 4th.

Product link: https://www.co-operativebank.co.uk/products/bank-accounts/packaged-bank-account/

Terms: https://www.co-operativebank.co.uk/pdfs/bank/currentaccounts/everyday-extra/everyday-extra-promotional-t&cs-sep-2024.pdf

The product is broadly comparable with Nationwide's offer, although of course there will be hundreds of differences so it's important to fully understand what these are before moving over. Some points I noted:

• Only account holders are protected, other family members are not regardless of age. Both account holders are protected if a joint account is selected.
• The roadside cover is from the RAC rather than the AA, but includes equivalent features to Homestart and Onward Travel.
• The mobile phone insurance only covers devices worth up to £1500, less than the £2000 Nationwide cover.

There will be hundreds of others so, to re-emphasise, do research and compare fully.

General_Grant

If you take up this offer, ensure your account always has enough to cover the fee on the first working day of the month.
They don't refund it until later in the month (unlike, for example, Lloyds).
And ongoing they take payment on the first day but it doesn't show on the account online until the end of the day - so you can go overdrawn and be charged overdraft fees if you look at the account earlier and your balance is less than the £15 fee.

HillStreetBlues

Does the benefits start straight away? As if I joined on the 2nd Oct I would have nearly 4 months as only 3 fees payable

WillPS

HillStreetBlues said:

Does the benefits start straight away? As if I joined on the 2nd Oct I would have nearly 4 months as only 3 fees payable

As soon as the account has been opened - worth noting that Co-op's account opening process is not exactly quick.

HillStreetBlues

Decided to take up the offer on the 2nd Nov. My reading of it is that I can just upgrade by normal current account as I will have applied for a  Everyday Extra Account. Is my view correct?

swinstan

I switched to this account before this this offer and merely opening the account turned into a nightmare. Crashed webpages (definitely not my end), admin glitches, poor telephone response only part of the problem. Actually switching the account went smoothly but with this lack of service am seriously reconsidering moving my main banking to Co-op. And now they are trying to wriggle out of paying the £100 switching bonus saying my account wasn't opened in time - despite me having a confirmatory email that it was opened 10 days before the deadline. Also, the offer deadline was on application date, not account opening date anyway. I downloaded the webpage at the time, so I can prove it. I'm really struggling to trust anything they say. 

WillPS

Last call for this, the offer ends Monday. We've applied today, will The Co-operative Bank be able to actually open the account by the end of the month I wonder...

HillStreetBlues

My upgrade took a couple of days, but the excess insurance is £360 due to bing injured in a car crash.

WillPS

It appears the offer has been extended. The current 'apply by' date is December 13th.

HillStreetBlues

First time I've taken a Extra type of account.  I have found the general policy details, but when I normally buy travel insurance I get a page with my details  the policy number the phone number to call etc. where can these be found?

WillPS

HillStreetBlues said:

First time I've taken a Extra type of account.  I have found the general policy details, but when I normally buy travel insurance I get a page with my details  the policy number the phone number to call etc. where can these be found?

The welcome pack has a phone number, but that's it. If you have a claim, you need to call that number and quote your account details.

The phone number is on the final page of this document: https://www.co-operativebank.co.uk/pdfs/bank/currentaccounts/everyday-extra/everyday-extra-at-a-glance.pdf

Unlike every other packaged account I've taken over the years, there is no servicing of those insurances available through the app or online banking.

I've found this page regarding the phone insurance, but it demands a Membership ID which is supposed to be on that Welcome Pack letter but isn't! I've asked them via secure messaging to provide a membership ID and I've been told it's my account number, but that doesn't work. 

It really is such a shoddy bank. I'll keep it for the 3 free months and then move elsewhere. Possibly back to Nationwide, we will see.