Co-op Bank: Can They Really Be That Bad?

UKX69

Descrabled said:

I'm somewhat puzzled by the survey results for HSBC and First Direct are the same bank although much apart on the survey.

Similarly RBS is regarded much worse than NatWest although they are the same bank and to my mind work very much the same odd way. Are the Scots more critical of banks than the English? Note the lower result for BOS compared with Halifax although the same bank.

I take all these comparisons with a pinch of salt.

Exactly. Just looking for comments from a diverse audience. A number of years ago, I looked at the comments on trust pilot about HSBC. According to them, HSBC was the worst bank in the universe, but I go by the principle I stated above that people post on a site if they get bad service and don’t if the service is good. I opened an account anyway and I was pleasantly surprised.

gsmh

My experience with the Co-operative bank is very different from what has been posted here. If we were discussing the bank a year or so ago I would agree with most of the negative comments. The issue of faster payments is, from my experience, no longer an issue and such payments arrive at their destination at most a couple of minutes later. Faster payments into the account are pretty quick too. I have had one single payment held, it was to my credit card and was the first such payment. I made many payments subsequently to that and other destinations and not a single one was held for investigation. I'm sure there's nothing special about me that I had no issues, it's surprising others managed to find fault.

Middle_of_the_Road

ZeroSum said:

Main downside to co-op is that faster payments take ages to arrive, and can't do am internal transfer to savings accounts via app, have to do by website. Oh, and payments to credit card take to days to leave your account even though it's internal transfer. Mind the issues I have with co-op are quite similar to what I have with first direct, but they score highly on ratings lists 

This is not the case for me. I fund the regular saver from my Co-op current account, on the app.

Edit:
On Android, if that makes any difference.

Middle_of_the_Road

gsmh said:

My experience with the Co-operative bank is very different from what has been posted here. If we were discussing the bank a year or so ago I would agree with most of the negative comments. The issue of faster payments is, from my experience, no longer an issue and such payments arrive at their destination at most a couple of minutes later. Faster payments into the account are pretty quick too. I have had one single payment held, it was to my credit card and was the first such payment. I made many payments subsequently to that and other destinations and not a single one was held for investigation. I'm sure there's nothing special about me that I had no issues, it's surprising others managed to find fault.

I'm not surprised. Those who criticise it are comparing it to more sophisticated systems. Even some of the traditional banks have apps with far better functionality.

I would guess, many of their longstanding customers are satisfied with the Co-op, and a high proportion are not app users. Those who want everything done instantly will obviously find the Co-op lacking.

gsmh

I have had accounts with pretty much every UK bank. I currently have current accounts with Starling, The Royal Bank of Scotland, Metro Bank, Santander and Nationwide. I don't find the more recent incarnation of The Co-operative Bank any worse than any other bank in terms of the functionality I need. As I said before, a year ago it was a very different story - you didn't even get to see pending transactions. Now I would say their systems are much improved. I have no complaints.

UKX69

Middle_of_the_Road said:

gsmh said:

My experience with the Co-operative bank is very different from what has been posted here. If we were discussing the bank a year or so ago I would agree with most of the negative comments. The issue of faster payments is, from my experience, no longer an issue and such payments arrive at their destination at most a couple of minutes later. Faster payments into the account are pretty quick too. I have had one single payment held, it was to my credit card and was the first such payment. I made many payments subsequently to that and other destinations and not a single one was held for investigation. I'm sure there's nothing special about me that I had no issues, it's surprising others managed to find fault.

I'm not surprised. Those who criticise it are comparing it to more sophisticated systems. Even some of the traditional banks have apps with far better functionality.

I would guess, many of their longstanding customers are satisfied with the Co-op, and a high proportion are not app users. Those who want everything done instantly will obviously find the Co-op lacking.

Perhaps it is what I am looking for. 😊

Middle_of_the_Road

gsmh said:

I have had accounts with pretty much every UK bank. I currently have current accounts with Starling, The Royal Bank of Scotland, Metro Bank, Santander and Nationwide. I don't find the more recent incarnation of The Co-operative Bank any worse than any other bank in terms of the functionality I need. As I said before, a year ago it was a very different story - you didn't even get to see pending transactions. Now I would say their systems are much improved. I have no complaints.

Totally agree, it does everything I need to. The areas in which their systems is inferior are in aspects that I never knew existed. These additions are highly important to some, and most of the 'app only banks' have made them almost essential in today's "need it now"world.
Someone posted a list of such features recently in a similar thread, the only one I can remember was 'split the bill'. Had to look that up.🙄

UKX69

Middle_of_the_Road said:

gsmh said:

I have had accounts with pretty much every UK bank. I currently have current accounts with Starling, The Royal Bank of Scotland, Metro Bank, Santander and Nationwide. I don't find the more recent incarnation of The Co-operative Bank any worse than any other bank in terms of the functionality I need. As I said before, a year ago it was a very different story - you didn't even get to see pending transactions. Now I would say their systems are much improved. I have no complaints.

Totally agree, it does everything I need to. The areas in which their systems is inferior are in aspects that I never knew existed. These additions are highly important to some, and most of the 'app only banks' have made them almost essential in today's "need it now"world.
Someone posted a list of such features recently in a similar thread, the only one I can remember was 'split the bill'. Had to look that up.🙄

Ok, I’m sold. Co-op here I come! 😁

Middle_of_the_Road

DasTechniker said:

Middle_of_the_Road said:

gsmh said:

I have had accounts with pretty much every UK bank. I currently have current accounts with Starling, The Royal Bank of Scotland, Metro Bank, Santander and Nationwide. I don't find the more recent incarnation of The Co-operative Bank any worse than any other bank in terms of the functionality I need. As I said before, a year ago it was a very different story - you didn't even get to see pending transactions. Now I would say their systems are much improved. I have no complaints.

Totally agree, it does everything I need to. The areas in which their systems is inferior are in aspects that I never knew existed. These additions are highly important to some, and most of the 'app only banks' have made them almost essential in today's "need it now"world.
Someone posted a list of such features recently in a similar thread, the only one I can remember was 'split the bill'. Had to look that up.🙄

Ok, I’m sold. Co-op here I come! 😁

Good for you, forget these new upstarts... 😄

ZeroSum

Middle_of_the_Road said:

ZeroSum said:

Main downside to co-op is that faster payments take ages to arrive, and can't do am internal transfer to savings accounts via app, have to do by website. Oh, and payments to credit card take to days to leave your account even though it's internal transfer. Mind the issues I have with co-op are quite similar to what I have with first direct, but they score highly on ratings lists 

This is not the case for me. I fund the regular saver from my Co-op current account, on the app.

Edit:
On Android, if that makes any difference.

Mines on android also & it won't let me. Well I guess I'd have to set myself up as a payee, then do it that way. But as it's my own accounts, it should just automatically be there but isn't.
I have had same issue with FD & credit cards, except with FD it actually is their rubbish systems