Co-op New £175 Switch Offer

PRAISETHESUN

gladiolus said:

I have just applied for a new Co-Op account and I am looking to take advantage of this switching offer. I wanted to ask, is there a good option for setting up 2 cheap direct debits? I remember you used to be able to use Post Office savings accounts and set up direct debits which would send money into them. That option was withdrawn a few years ago I believe. I don't particularly want to swap any of my direct debits from my main bank account as they are quite important, and I also get rewards related to paying bills through DD. Also, can anyone clarify what is meant by "digital wallet payments"? I assumed it meant Google Pay or Apple Pay but apparently it's nothing to do with that?

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

MoneyBox, Plum, PayPal, Currensea are my usual go to DDs

phillw

IAMIAM said:

My question is, I am just going to pay £1 to various companies (Water, Elec, Credit Card etc) all on one day = £10 of debit card transactions. Is this allowed?

When I was doing £1 transactions to my credit card to meet TSB requirements, it triggered a letter from my credit card provider. They can withdraw your credit card at any time, something to think about.

soulsaver

gladiolus said:

I have just applied for a new Co-Op account and I am looking to take advantage of this switching offer. I wanted to ask, is there a good option for setting up 2 cheap direct debits? I remember you used to be able to use Post Office savings accounts and set up direct debits which would send money into them. That option was withdrawn a few years ago I believe. I don't particularly want to swap any of my direct debits from my main bank account as they are quite important, and I also get rewards related to paying bills through DD. Also, can anyone clarify what is meant by "digital wallet payments"? I assumed it meant Google Pay or Apple Pay but apparently it's nothing to do with that?

See a few posts back that says you don't have to use a digital wallet; ordinary DC transactions will qualify.

Nebulous2

The digital wallet isn't even mentioned in the conditions for the first £100, only for the subsequent 3 months at £25 where it is given as an option. 

The whole process seems painfully slow. I got my debit card a week ago, got a confirmation I'd been accepted for the account three days ago, and then got my PIN yesterday. 

I'd been waiting for the PIN, but did a self-service checkout in Tesco yesterday and it went through as contactless, even though it was a brand new card. I'll do ten low value transactions, but they'll all be well over the £1. I like to do a bit more than the minimum. 

I applied for the switch online about a week ago, which was a clunky process, and have heard nothing to date. 

WillPS

Nebulous2 said:

The whole process seems painfully slow. I got my debit card a week ago, got a confirmation I'd been accepted for the account three days ago, and then got my PIN yesterday. 

Par for the course with this bank, unfortunately.

Nebulous2 said:

I'd been waiting for the PIN, but did a self-service checkout in Tesco yesterday and it went through as contactless, even though it was a brand new card. I'll do ten low value transactions, but they'll all be well over the £1. I like to do a bit more than the minimum. 

Were you using the physical debit card or Apple/Google Pay?

AIUI the physical card shouldn't work via contactless until it has been used via Chip & PIN, otherwise cards could be intercepted in the post and used. Apple/Google Pay will work though.

Nebulous2

WillPS said:

Nebulous2 said:

The whole process seems painfully slow. I got my debit card a week ago, got a confirmation I'd been accepted for the account three days ago, and then got my PIN yesterday. 

Par for the course with this bank, unfortunately.

Nebulous2 said:

I'd been waiting for the PIN, but did a self-service checkout in Tesco yesterday and it went through as contactless, even though it was a brand new card. I'll do ten low value transactions, but they'll all be well over the £1. I like to do a bit more than the minimum. 

Were you using the physical debit card or Apple/Google Pay?

AIUI the physical card shouldn't work via contactless until it has been used via Chip & PIN, otherwise cards could be intercepted in the post and used. Apple/Google Pay will work though.

It was the actual card, which had never been used before. I rarely use google pay. I fully expected to have to insert it, but tapped it and the transaction went through without any issues.  

grandadgolfer

£100 paid in today one day after doing 10 debit card transactions 

WillPS

Offer ends June 4th.

PRAISETHESUN

phillw said:

IAMIAM said:

My question is, I am just going to pay £1 to various companies (Water, Elec, Credit Card etc) all on one day = £10 of debit card transactions. Is this allowed?

When I was doing £1 transactions to my credit card to meet TSB requirements, it triggered a letter from my credit card provider. They can withdraw your credit card at any time, something to think about.

Which CC provider out of interest? I've been doing this with Amex for years for various accounts that require debit card transactions without any issues.

WillPS

PRAISETHESUN said:

phillw said:

IAMIAM said:

My question is, I am just going to pay £1 to various companies (Water, Elec, Credit Card etc) all on one day = £10 of debit card transactions. Is this allowed?

When I was doing £1 transactions to my credit card to meet TSB requirements, it triggered a letter from my credit card provider. They can withdraw your credit card at any time, something to think about.

Which CC provider out of interest? I've been doing this with Amex for years for various accounts that require debit card transactions without any issues.

Do you not find that you get rate limited at about 1 payment per hour? I can put up with it settling my bill in £500 chunks for Halifax but trying to do 20 £1s with it would be rather tedious.