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  • FIRST POST
    • pejayuk
    • By pejayuk 14th Mar 17, 5:29 PM
    • 20Posts
    • 4Thanks
    pejayuk
    N&P Current Account Switch (Incentive)
    • #1
    • 14th Mar 17, 5:29 PM
    N&P Current Account Switch (Incentive) 14th Mar 17 at 5:29 PM
    Hi,

    I have read all the threads on here regarding the closure of Norwich and Peterborough current accounts and wondered if anyone successfully switched to another bank and received a welcome bonus?

    I was considering a switch to the Coop bank as they are offering 110 incentive. I just phoned them and two people said it didn't matter that N&P are not signed up to the switching service, as it's their (the Coop) switching service I will be using and therefore I still qualify for the bonus.

    This can't be right can it? I thought from the other threads I've been reading that both banks had to be part of the scheme?

    I would really appreciate any advice/clarification on this.

    Thanks in advance.
Page 1
    • WillPS
    • By WillPS 14th Mar 17, 5:36 PM
    • 286 Posts
    • 133 Thanks
    WillPS
    • #2
    • 14th Mar 17, 5:36 PM
    • #2
    • 14th Mar 17, 5:36 PM
    The Current Account Switching Service relies on both the losing and gaining financial institution offering the Current Account Switch Guarantee. N&P do not, so Co-op Bank will not be able to switch your account using the CASS.

    Without CASS, they can arrange a 'partial switch', which comes with no guarantee, takes longer and does not shut your old account. Under most circumstances, you don't get a bonus if you want to do a Partial Switch, however HSBC and their subsidiary M&S Bank have said they will give you the bonus if you do a Partial Switch from an N&P account.

    The Co-op have not offered the same - however if you can get some kind of record that you have been promised the switching bonus (and are willing to follow it up when it inevitably doesn't materialise) I would expect you to get it.
    • alanq
    • By alanq 14th Mar 17, 5:37 PM
    • 3,982 Posts
    • 2,581 Thanks
    alanq
    • #3
    • 14th Mar 17, 5:37 PM
    • #3
    • 14th Mar 17, 5:37 PM
    As of last month only HSBC and its M&S Bank brand were offering N&P customers switching incentives.

    http://www.moneysavingexpert.com/news/banking/2017/02/banks-will-offer-switching-bonuses-to-norwich-peterborough-customers-facing-account-closures

    I haven't seen any announcements of other banks following suit.
    Last edited by alanq; 14-03-2017 at 6:26 PM. Reason: M&S Money should have been M&S Bank
    • pejayuk
    • By pejayuk 14th Mar 17, 5:59 PM
    • 20 Posts
    • 4 Thanks
    pejayuk
    • #4
    • 14th Mar 17, 5:59 PM
    • #4
    • 14th Mar 17, 5:59 PM
    Many thanks, just the info I needed. I didn't think it sounded right what the Coop lady told me on the phone. Even though she double checked with a colleague.

    As the link saying HSBC and M&S are offering an incentive, also says TSB and Coop are considering it, I think I'll wait a few weeks and see what happens.
    • Heng Leng
    • By Heng Leng 15th Mar 17, 11:00 AM
    • 4,523 Posts
    • 1,416 Thanks
    Heng Leng
    • #5
    • 15th Mar 17, 11:00 AM
    • #5
    • 15th Mar 17, 11:00 AM
    It's obviously at their discretion if they choose not to enforce the requirement to use the CASS.

    I would ask for confirmation so that if doesn't happen automatically then they have to honour it.
    • eskbanker
    • By eskbanker 15th Mar 17, 12:47 PM
    • 7,092 Posts
    • 7,518 Thanks
    eskbanker
    • #6
    • 15th Mar 17, 12:47 PM
    • #6
    • 15th Mar 17, 12:47 PM
    As the link saying HSBC and M&S are offering an incentive, also says TSB and Coop are considering it, I think I'll wait a few weeks and see what happens.
    Originally posted by pejayuk
    ....or alternatively switch your N&P account now to HSBC or M&S for one of their incentives and switch again to Coop later (or with a sacrificial account sooner if you want to be sure of getting the Coop deal)?
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