Co-op £100 switch incentive is back

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bsms1147
bsms1147 Posts: 2,261 Forumite
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edited 3 February 2014 at 11:22AM in Budgeting & bank accounts
As predicted by people on the forum, Co-Op are from today offering a £100 switch incentive to switch current accounts to them (plus an additional £25 to charity) when you switch 2 direct debits/standing orders and pay in £800 in 31 days.

http://www.co-operativebank.co.uk/currentaccounts/125switch?cid=125switchhomepage

I'm sure many people have an account (cough, FlexDirect) which may be suitable for use.

Edit: Apply from tomorrow (4th feb) to be safe
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  • veryintrigued
    veryintrigued Posts: 3,843 Forumite
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    How do people read this:

    7.2 switch a minimum of two active Direct Debits or Standing Orders; and

    Do they read it that the DDs/ SOs have to switched as part of the switch service - or that they can be set up manually afterwards?

    Cheers in advance
  • bsms1147
    bsms1147 Posts: 2,261 Forumite
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    Switched. The bonus is they can be standing orders which take seconds to set up.
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    Do not apply for the switch before tomorrow
    This offer is available for applications to switch your main current account to a qualifying current account using the current account switching service received after 3 February 2014

    Though those who do not have an account there yet can apply for the account today. It will take some time for them to open the account, anyway. Once open, you have to call them to apply for the switch (and presumably to get a grilling as to why you want to switch).
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    Chor, this feels like applying for a YB account all over again.

    You get this after you filled in an online application.
    Thank you for your application for a Current Account Plus.

    Where no extra information is required a decision will be sent to you by post or email within 5 working days.

    Anyone got any experience with phone applications?
  • bsms1147
    bsms1147 Posts: 2,261 Forumite
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    Yeah I clocked that. No experience of phone (or post applications) in the past, seems a bit of an archaic way of doing things, but gotta love a bit of hoop-jumping...
  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
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    Best also to prime yourself with the T&Cs before you call with your switch request. http://www.co-operativebank.co.uk/assets/pdf/bank/currentaccounts/common/banking-terms-and-conditions.pdf?int_cmp=CA_CAP_s-tandc_banking-terms-and-conditions_termsandconditions

    There is quite a bit of room for not qualifying, such as they seem to insist that "wage, salary, pension" gets paid into the account. Unless, of course, they don't know the difference between "i.e." and "e.g.", which is a distinct possibility.
    1.1 To open an account you must be a UK resident 16 or over and to have an account; you must receive a regular payment (i.e. wage, salary, pension) which you must pay into your account.
  • Chjaka
    Chjaka Posts: 72 Forumite
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    The last time I switched an account to the co-op for an introductory bonus it took almost twelve months and a dozen phone calls to get the payout.

    Fingers crossed that they've improved.
  • apt
    apt Posts: 3,188 Forumite
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    A lot of Nationwide Flexdirect accounts with 2 standing orders on them will be coming the Co-op's way. I can't see them getting many main/active accounts.
  • wakeupalarm
    wakeupalarm Posts: 1,102 Forumite
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    Do you think you can qualify for this if you took advantage of this offer a couple of years ago? It says this in the t&c

    You can only benefit from this offer once, and joint accounts will only qualify for one payment of £100
  • innovate
    innovate Posts: 16,217 Forumite
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    Applied & "approved subject to a few formalities" for a Coop account.
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