CO-OP Bank Switch

Sallycinnamon77

I wanted to make use of the Co-op £175 switch incentive, so I applied for a current account on 10th September and the earliest they could offer me a switch date was 6th October.  I applied for a savings account last week that still isn't showing on online banking, and I also applied for a credit card and am still awaiting the decision.  Has anyone else found Co-op to be painfully slow?  I have made use of other switch incentives over the years, and this is by far the slowest, and most clunky of them all.  Actually considering cancelling the switch and sticking with NatWest.

Nasqueron

Co-Op are very slow yes, payments take a while to appear but the system switch worked for me ok a while ago

alpaco47

I tried to switch an account to Coop today and it offered me the 17th October as the earliest date I could do it. I thought switches only took 7 days, not a month. I spoke to their 'customer services'. The first person couldn't answer the question and put the phone down on me. The second person did try to find the answer and just came up with 'were very busy'. Not a good advert for the Coop Bank. 

Middle_of_the_Road

alpaco47 said:

I tried to switch an account to Coop today and it offered me the 17th October as the earliest date I could do it. I thought switches only took 7 days, not a month. I spoke to their 'customer services'. The first person couldn't answer the question and put the phone down on me. The second person did try to find the answer and just came up with 'were very busy'. Not a good advert for the Coop Bank. 

The 7 days is the timeframe for completion, once the process starts, not the ability of the provider to actually offer a start date. 
When banks are inundated with applications, available dates will be pushed back. This is the case for all banks, although Co-op seem to be among the worst examples.

Rob5342

Mine has been hopelessly slow too, they make Nationwide look up to date! It took about 4 days from applying before I was able to log in on the app and see the account, and the switch date was about a month away too. I just switched for the £175 and I'll switch again as soon as another offer comes up.

murmeltier

Does anyone know when/how Coop communicate about a switch that was applied for as part of the account opening process?

I applied for a switch as part of opening a new account last week and received some welcome emails and also debit card and a welcome letter in the post, but have not received anything about the switch and none of the letters/emails received mention it.

Switch date is still 3 weeks away though.

Rob5342

They sent me a letter confirming the switch date and said they would write again when the process had started. I can't remember when i received the letter but they do seem to be unbelievably slow with everything. 

jimjames

Rob5342 said:

Mine has been hopelessly slow too, they make Nationwide look up to date! It took about 4 days from applying before I was able to log in on the app and see the account, and the switch date was about a month away too. I just switched for the £175 and I'll switch again as soon as another offer comes up.

Co-op is one I've kept because they offer a good regular saver account

georged123

Could anyone clarify do you need to switch an account that already has two active direct debits or can you open direct debits after the switch as long as they are active within 30 days?

Rob5342

georged123 said:

Could anyone clarify do you need to switch an account that already has two active direct debits or can you open direct debits after the switch as long as they are active within 30 days?

It just says thet you need to have two active direct debits, it doesn't put any restrictions on how they get there.

To get the £100, you must have done the following by the 30th day after your switch completes:

• deposit £1,000 or more

• have two or more active Direct Debits

• make ten or more card transactions

• register for our online banking services or mobile app
  
  

  Please note:

  Deposits and transactions made prior to your switch completing will not count towards fulfilment of this criteria.
  
  Any balances transferred as part of the switch will count towards the £1,000 for the first month only.

innocentlove

Terms and conditions

Please read all sections of the terms and conditions, and save a copy for future reference.

Section A: £100 Switch Incentive

1.3 In the 30 days following the switch completion date (and not before the switch has completed):

a) has deposited at least £1,000 into the eligible account (this can be transferred as part of the switch and/or by one or more deposits);

b) has at least 2 active Direct Debits in place on the eligible account at the point of payment (this can include any that are transferred as part of the switch);