Co-op £150 Switch & Stay Offer 27/9/24

Bridlington1

Good evening,

Co-op have launched a £150 Switch & Stay offer. This consists of: 




https://www.co-operativebank.co.uk/products/bank-accounts/switch-and-stay/

For future reference Ts&Cs have been archived to the wayback machine:
https://web.archive.org/web/20240927194353/https://www.co-operativebank.co.uk/products/bank-accounts/switch-and-stay/

Additionally for those short of DDs, the following thread may be of use. This thread also contains a list of savings accounts that allow deposits by debit card which can be used to satisfy the ``making ten or more card or digital wallet transactions" criterion:
https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

MisterMotivated

Yet another bank that appears to be opting for a fixed cutoff date for eligibility of those who have previously received a switching incentive

dcs34

Reading 1.4 of the T&Cs ("Has not previously benefitted as a new customer from this, or any previous Co-operative Bank current account switch offers since 01/11/2022.") has me pondering...

I switched an account in December 2022 (being paid £125 for a referral) but that was into an existing Co-op account which was opened in November 2022 (so I didn't 'benefit as a new customer').

I then did a number of referrals in 2022-23, and Jan 24 (again, I wasn't a new customer).

I would argue I was not a new customer when I benefitted from being referred or referring others, so 1.4 wouldn't exclude me? The payments were always promoted by Co-op as referral offers rather than a switch offer. In no instance was the payment made to me as a "new customer".

What do people think? I know Co-op have a more track record of interpreting their own T&Cs somewhat obliquely...

AmityNeon

dcs34 said:

Reading 1.4 of the T&Cs ("Has not previously benefitted as a new customer from this, or any previous Co-operative Bank current account switch offers since 01/11/2022.") has me pondering...

I switched an account in December 2022 (being paid £125 for a referral) but that was into an existing Co-op account which was opened in November 2022 (so I didn't 'benefit as a new customer').

I then did a number of referrals in 2022-23, and Jan 24 (again, I wasn't a new customer).

I would argue I was not a new customer when I benefitted from being referred or referring others, so 1.4 wouldn't exclude me? The payments were always promoted by Co-op as referral offers rather than a switch offer. In no instance was the payment made to me as a "new customer".

If you benefitted from the Refer a Friend Switching Offer as the "Recommended Friend" (section 2), then you qualified then as an eligible new customer, excluding you from this Switch and Stay Offer.

The Refer a Friend Switching Offer began on 1st November (2022), and you opened your account in that same month. Obviously, an account must already be open before the switch process can even commence, so just because a switch completes in December for an account opened in November doesn't mean you weren't a new customer. Did you request your switch during the account-opening process? Even if not, Co-op still allowed an indefinite grace period, whereby switches into recently-opened accounts were deemed eligible to qualify for the Offer (as the Recommended Friend), with the most typical scenario involving technical hurdles during the application process so switches were requested over the phone after the fact.

Saverssave

It’s making all the transactions that are a problem for me, is there a way to get around that since Amazon is now a minimum of £5? 

Bridlington1

Saverssave said:

It’s making all the transactions that are a problem for me, is there a way to get around that since Amazon is now a minimum of £5? 

The thread I linked in the original post that lists direct debit ideas also contains a list of savings accounts that accept deposits by debit card. This can be used for making the debit card transactions necessary for the switch.

https://forums.moneysavingexpert.com/discussion/6445857/savings-investment-dds-and-debit-card-deposits-an-updated-list/p1

For clarity I have amended the OP to reflect this.

Marcoos

If you have an Apple subscription, music, iCloud storage etc. You can do £1 top ups to your credit which can go towards it if the card is linked to Applepay 

moneyworrier2021

Could you not go to a supermarket and do like 10 separate transactions for an apple each time for example?

ThePirates

Do you have to switch 2 DDs or setup 2 DDs?

danny13579

ThePirates said:

Do you have to switch 2 DDs or setup 2 DDs?

Either will do.

danny13579

moneyworrier2021 said:

Could you not go to a supermarket and do like 10 separate transactions for an apple each time for example?

Yep. Self-serve checkouts make doing this much easier.