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

boingy

7% is decent enough but I already have reg savers at 7% and 10%, both of which are fixed, unlike the Co-op one.

You were pretty lucky with the text message. They only send them out sometimes. I only got a do-not-reply email with a phone number. My record wait when phoning that number is 66 minutes. That definitely is unusable for me, especially when it costs me 3p per minute to sit on that hold line. That one call more than doubled my typical monthly spend on voice calls! (I realise I'm not a typical user in that respect)

ThePirates

Just a bit of caution because I got it wrong...
You have to meet all of the lump sum and payment conditions AFTER your switch has completed!
Ah well another 10 minutes at Aldi self service checkouts then!

Petriix

According to the t&c the deposit and 10 debit card transactions need to be after "the day after your switch completes" so wait a day rather than doing it on the same day. 

boingy

Yeah, there are a few other weasel-worded gotchas in their terms too.
The other biggie is that the three months thing starts the day after they pay the initial £75 so if they pay the £75 on, say, the 25th then each of the three one-month £25 rewards are only earned between 26th and the 26th of the following month.

I predict there with be quite a few people who get it wrong by a day. Compared with other switches, the Co-op are definitely making us work a bit harder for the money. It's still free money though. 

t1redmonkey

Was pleasantly surprised to get an email saying I'd met all the switch incentives today, and then got the £75 a couple hours later.  I thought they'd wait for my direct debits to actually collect before paying out, but I guess that's not needed (neither of the two I put on there have collected yet).

zedonk

I wish I'd read this thread before deciding to switch to them. Every time I want to transfer money out of my account, it triggers their fraud checks and I have to phone them. 🤦🏼‍♀️

Emily_Joy

zedonk said:

I wish I'd read this thread before deciding to switch to them. Every time I want to transfer money out of my account, it triggers their fraud checks and I have to phone them. 🤦🏼‍♀️

Maybe the easiest solution is to request a cheque book and write myself a cheque then!

Bridlington1

zedonk said:

I wish I'd read this thread before deciding to switch to them. Every time I want to transfer money out of my account, it triggers their fraud checks and I have to phone them. 🤦🏼‍♀️

For balance I've used Co-op for over 2 years and used to bounce £800 through the account each month when they still paid £2.20/mth in rewards on their current account. I've never had to phone them for fraud checks. The nearest I've got is having to reply to a text with ``Yes" when I made a debit card payment to one of my savings accounts (took a matter of seconds to do) and even then I was able to make the transaction immediately afterwards without issues.

luverlyjuberly

I started this switch last night (switching into an existing Co-op account) but I'm rather  puzzled that I've yet to receive an email from either Co-op or Chase acknowledging that the switch has started. Is this normal?

boingy

luverlyjuberly said:

I started this switch last night (switching into an existing Co-op account) but I'm rather  puzzled that I've yet to receive an email from either Co-op or Chase acknowledging that the switch has started. Is this normal?

Yes. Everything the Co-op does is very slow. It took them a week to start the switch after I requested it (that was into a new account). It took them a week to open a savings account when I already had the current account.