The co-operative bank £150 switching offer February 2025

steven141

twadds123 said:

Just want to check my thinking on this offer.

Currently i've got a month or so left on the tsb offer which involves using debit card transactions,  I don't do enough to do that and this co-op one.

However i'm keen to get the switch started and therefore also access their regular saver.

If i'm understanding correctly, I can open the co-op account , set up the switch from another account (not the tsb for clarity) but can schedule the switch for up to 8 weeks in the future.

Then all the need for debit card transactions etc only starts once the switch is complete and the first part of the bonus is received.

Then I can move my debit card spending to the co-op account?

So in summary.

Open Co-op account now.

Start switch but set switch date to early april. (not the tsb account)

I can open regular saver straight away once account open.

continue using debit card for tsb in march to complete their offer.

Switch completes at start of april,

once complete, deposit £1000, have 2 direct debits, have card on digital wallet, use 10 debit card transactions.  then they pay the first £75

Their personal "month" starts then,  do above for 3 more "months"  get the 3*£25 and then i'm free to move my debit card spending as i wish.

That make sense?

This may impact your TSB offer as they may not give you the incentive if you have requested to leave. I could be wrong though but it's not worth the risk unless you are willing to forfeit your TSB offer.

PRAISETHESUN

@twadds123 Safest bet is to wait until TSB have paid out your incentive in full before trying to switch away. Better to set up a dummy account with another bank (such as Chase) and use that instead.

And if you're struggling for debit card transactions through normal spending, there's plenty of ideas discussed in the thread I'll link below. I personally either just pay off a credit card using my debit card using a few individual £1 transactions, or buy a few individual carrots through the self serve when Tesco is quiet.

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

soulsaver

dcs34 said:

I assume Co-op will count their referral offer as a switching offer - including payments to those doing the referring (even if they didn't "switch" themselves)?

You could phone and ask them to confirm you're eligible. Keep contemporaneous notes if they say yes, complain if they fail it afterwards. 

twadds123

steven141 said:

twadds123 said:

Just want to check my thinking on this offer.

Currently i've got a month or so left on the tsb offer which involves using debit card transactions,  I don't do enough to do that and this co-op one.

However i'm keen to get the switch started and therefore also access their regular saver.

If i'm understanding correctly, I can open the co-op account , set up the switch from another account (not the tsb for clarity) but can schedule the switch for up to 8 weeks in the future.

Then all the need for debit card transactions etc only starts once the switch is complete and the first part of the bonus is received.

Then I can move my debit card spending to the co-op account?

So in summary.

Open Co-op account now.

Start switch but set switch date to early april. (not the tsb account)

I can open regular saver straight away once account open.

continue using debit card for tsb in march to complete their offer.

Switch completes at start of april,

once complete, deposit £1000, have 2 direct debits, have card on digital wallet, use 10 debit card transactions.  then they pay the first £75

Their personal "month" starts then,  do above for 3 more "months"  get the 3*£25 and then i'm free to move my debit card spending as i wish.

That make sense?

This may impact your TSB offer as they may not give you the incentive if you have requested to leave. I could be wrong though but it's not worth the risk unless you are willing to forfeit your TSB offer.

as stated i'm not switching the TSB account. 

twadds123

PRAISETHESUN said:

@twadds123 Safest bet is to wait until TSB have paid out your incentive in full before trying to switch away. Better to set up a dummy account with another bank (such as Chase) and use that instead.

And if you're struggling for debit card transactions through normal spending, there's plenty of ideas discussed in the thread I'll link below. I personally either just pay off a credit card using my debit card using a few individual £1 transactions, or buy a few individual carrots through the self serve when Tesco is quiet.

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

Thanks for the debit card info.  As stated in my post i'm not switching the TSB account

soulsaver

twadds123 said:

Just want to check my thinking on this offer.

Currently i've got a month or so left on the tsb offer which involves using debit card transactions,  I don't do enough to do that and this co-op one.

However i'm keen to get the switch started and therefore also access their regular saver.

If i'm understanding correctly, I can open the co-op account , set up the switch from another account (not the tsb for clarity) but can schedule the switch for up to 8 weeks in the future.

Then all the need for debit card transactions etc only starts once the switch is complete and the first part of the bonus is received.

Then I can move my debit card spending to the co-op account?

So in summary.

Open Co-op account now.

Start switch but set switch date to early april. (not the tsb account)

I can open regular saver straight away once account open.

continue using debit card for tsb in march to complete their offer.

Switch completes at start of april,

once complete, deposit £1000, have 2 direct debits, have card on digital wallet, use 10 debit card transactions.  then they pay the first £75

Their personal "month" starts then,  do above for 3 more "months"  get the 3*£25 and then i'm free to move my debit card spending as i wish.

That make sense?

Or to simplify the objective, in case it didn't occur to anyone:
How to generate more DC transactions (so you can do the switch immediately)?
See @PRAISETHESUN link in the previous post.

RebekahR

Getting by the skin of my teeth here! Just opened an account with Co-op. Awaiting card/bank details etc. Got a sacrifice account with chase but waiting on 2 DD's to go out mid week. With me hopefully requesting the switch on Weds/Thurs! Eeek skin of my teeth stuff!! ...

moneytorques

RebekahR said:

Getting by the skin of my teeth here! Just opened an account with Co-op. Awaiting card/bank details etc. Got a sacrifice account with chase but waiting on 2 DD's to go out mid week. With me hopefully requesting the switch on Weds/Thurs! Eeek skin of my teeth stuff!! ...

Can you elaborate, I don't follow why its skin of your teeth stuff?
The offer hasn't been withdrawn?

adindaspantai

I just noticed today that my Co-op account has a £75 credit with the description "Adjustment." Is this the Step 1 incentive? I received a message stating that my switch was completed by the end of February, and I met the other criteria, including 10 debit card transactions. However, I only have one active direct debit instead of two. Could this £75 be the Step 1 incentive?

soulsaver

adindaspantai said:

I just noticed today that my Co-op account has a £75 credit with the description "Adjustment." Is this the Step 1 incentive? I received a message stating that my switch was completed by the end of February, and I met the other criteria, including 10 debit card transactions. However, I only have one active direct debit instead of two. Could this £75 be the Step 1 incentive?

Phone them and ask if they've made a mistake?