Co-op New £175 Switch Offer

PRAISETHESUN

WillPS said:

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.

I tend to do them in small blocks, which takes only a few minutes at a time. Most of the time it gets slowed down by the bank requesting authentication (SMS, or app) but even then you get into a little rhythm after a bit whilst watching TV or something. But you're right in saying that it is tedious.

averageguy11

WillPS said:

Offer ends June 4th.

I assume that providing you apply before that date you still qualify? My switch isn’t due until June 28th

clairec666

I've just received my £100 bonus from Co-op - switch completed on the 21st, I've fulfilled all the criteria and have set up the direct debits but they haven't actually been paid out yet, so I was surprised to get the confirmation email from Co-op already. I wonder if I'd lose the bonus if I cancel the direct debits now - I'm not going to risk it though!

WillPS

clairec666 said:

I've just received my £100 bonus from Co-op - switch completed on the 21st, I've fulfilled all the criteria and have set up the direct debits but they haven't actually been paid out yet, so I was surprised to get the confirmation email from Co-op already. I wonder if I'd lose the bonus if I cancel the direct debits now - I'm not going to risk it though!

No need for DDs to payout, they just need to be active.

Dangerous_Dave

What DD's is everyone using for this? Plum doesn't have them listed so is unable to set one up. Moneybox looks ok. Paypal also doesn't have them listed, but does let you try to add from sort code and account number. Just wondering what else I can use if the Paypal one doesn't work. Thanks.

WillPS

Dangerous_Dave said:

What DD's is everyone using for this? Plum doesn't have them listed so is unable to set one up. Moneybox looks ok. Paypal also doesn't have them listed, but does let you try to add from sort code and account number. Just wondering what else I can use if the Paypal one doesn't work. Thanks.

Set up PayPal on the account you're switching from, as well as to your new Co-op Bank account. You'll have two mandates when the switch completes.

Dangerous_Dave

WillPS said:

Dangerous_Dave said:

What DD's is everyone using for this? Plum doesn't have them listed so is unable to set one up. Moneybox looks ok. Paypal also doesn't have them listed, but does let you try to add from sort code and account number. Just wondering what else I can use if the Paypal one doesn't work. Thanks.

Set up PayPal on the account you're switching from, as well as to your new Co-op Bank account. You'll have two mandates when the switch completes.

Ah, too late for that I think. Switch is happening Monday. I've added eBay so will see if that works as well. Between Moneybox, Paypal and eBay I should be ok I think.

averageguy11

averageguy11 said:

WillPS said:

Offer ends June 4th.

I assume that providing you apply before that date you still qualify? My switch isn’t due until June 28th

Anyone? TIA 

WillPS

averageguy11 said:

averageguy11 said:

WillPS said:

Offer ends June 4th.

I assume that providing you apply before that date you still qualify? My switch isn’t due until June 28th

Anyone? TIA 

The answer is pretty prominent on the bank's website:
https://www.co-operativebank.co.uk/products/bank-accounts/switch-offer/

There’s still time to switch and receive up to £175. To be eligible, you’ll need to apply for a qualifying current account or for existing customers, request a switch by the end of 4 June 2025. Make sure you meet the offer criteria within the outlined timescales by reading our T&Cs.

IAMIAM

My switch date is finally set as 10th June, even though I applied when this post started!

So from peoples experience, is it deposit £1k on the 11th June, withdraw 12th and complete 10 £1 debit card transactions that will trigger the £100 a few days later....then continue with £1k deposits monthly? I will just use the £25 credits to complete the 10 monthly transactions until the full £75 has arrived...