Coop Bank switch incentive £100 + £25 to charity
327°Expired

Coop Bank switch incentive £100 + £25 to charity

42
Found 3rd Feb 2014
The Co-op Bank are offering £100 to you + £25 to charity for switching your current account to them. In order to qualify, you need to switch minimum 2 direct debits / standing orders, credit the account with £ 800 minimum per month and close the old account. Also, although existing customers qualify, you need to NOT already have their main account with them (if you have a current account with them and paying more than £ 800 per month into it, you do not qualify).

Terms and conditions
*This offer is not available to existing customers with a Co-operative Bank or smile current account who pay in on average £800 or more per month over the three months prior to 1 February 2014, or since the account was opened, if that is a shorter period.
†Any balance transferred from your old account as part of your switch does not count towards the minimum £800 funding requirement.
£100 will be paid into your account within 45 days from the date your switch is completed, if conditions of this offer are met. You will also receive information on how you can choose which of our designated charities you would like us to make a £25 donation to.
Offer can be withdrawn at any time.
You can only benefit from this offer once, and joint accounts will only qualify for one payment of £100
Applications to switch received after 3 of February 2014 and before the offer ends will be entitled to receive the offer.
If a new account is opened online, an application to switch must be made via the telephone or in one of our branches, within 14 days of account opening.
- loue91

42 Comments

Does anyone know if this is valid if you have previously received the £200 for switching (I then switched to another bank, so I have an account with them but don't pay anything in)? Thanks in advance! And heat added!
Edited by: "stfagos" 3rd Feb 2014

nice deal but santander 123 account is better, only need to deposit £500 a month, £2 monthly fee, 2 direct debits and get potentially around £40 interest a month as well as cash back on bills

Edited by: "stelol" 3rd Feb 2014

what's all this spending £800 a month can't u just have an account?

nicki1987

what's all this spending £800 a month can't u just have an account?



Deposit £800 per month. One of the ways to make sure you're actually using it as a main account.

Current Account, or
Current Account Plus anyone know the difference?? thanks

I looked at the Santander 123 account but this makes it unviable for me:

"Interest and transfers from any other Santander accounts do not count towards the monthly funding amount."

Too bad I do my business banking with Santander too

stelol

nice deal but santander 123 account is better, only need to deposit £500 … nice deal but santander 123 account is better, only need to deposit £500 a month, £2 monthly fee, 2 direct debits and get potentially around £40 interest a month as well as cash back on bills



Terrible bank.

napolimp

Terrible bank.



Wise words, they truly are terrible

napolimp

Terrible bank.



Yeah, not like all of those other good banks.

Good find. I can get £100 for leaving First Direct + £100 for joining Co-op!

stfagos

Does anyone know if this is valid if you have previously received the … Does anyone know if this is valid if you have previously received the £200 for switching (I then switched to another bank, so I have an account with them but don't pay anything in)? Thanks in advance! And heat added!


Yes you can still switch

napolimp

Terrible bank.



Yep, shocking. When i went to close my account they had a special queue for the line for account closures....first direct or coop are top rated for service and thanks for this as i missed the £200 switch which only lasted a few days.

A previously ethical and good bank now run by American hedge fund managers who took control disgracefully.
I'd rather not take their gimmicks and provide my money to someone trustworthy. (Sadly few UK banks in that list).

elbrownos

Good find. I can get £100 for leaving First Direct + £100 for joining C … Good find. I can get £100 for leaving First Direct + £100 for joining Co-op!


Does anyone know if you leave FD whether you still get the interest for the 6% savings account?

seanmcr

I looked at the Santander 123 account but this makes it unviable for … I looked at the Santander 123 account but this makes it unviable for me:"Interest and transfers from any other Santander accounts do not count towards the monthly funding amount."Too bad I do my business banking with Santander too



Funding santander 123 current account from a Santander business account will count towards the monthly credit turnover of £500

Thanks, I've got an old Britannia account that I opened last year for a switching offer and never switched all my DD's, the terms for existing customers say I'm eligible because a) I haven't switched to them as my main account and b) I'm not paying in an average of £800/month.

Ideal timing as the Halifax deal is running out soon and I need an overdraft facility that doesn't cost an arm and a leg. Might keep the Halifax account for the free fivers if the Coop don't insist on my closing it.

Don't just choose another bank.

Tried getting an account with co-op when I was unemployed and they told me to shove off basically. Now I'm in gainful employment they can stick their offer. I appreciate any business has a right to refuse custom but just couldn't believe it. Soon they'll be turning away kids opening their first account with cheques under an arbitrary limit...

The only problem I have with this is condition 1.1. in the T & C's for the current and current plus accounts which states that to open an account "you must receive a regular payment (i.e. wage, salary, pension) which you must pay into your account".

In the last few years I've maintained accounts with Halifax, Lloyds, Nationwide, HSBC, Santander, M & S and Co-op the last time they did this and bounced the requisite monthly funding amount between them to maximise returns but I've never been forced to pay my salary into them.

I like an incentive as much as the next person but I just can't be bothered to change where my salary goes to.

Good deal but does anyone know if co op bank match first direct in terms of customer service and mobile and online banking?

I'm tempted any other good bank switch deals about.. Lloyds bank seem to offer nothing.

Oh noo! HUKD nation will bankrupt them! Then the taxpayer will bail them out, so that it is sold for peanuts to private funds. The vicious circle of private banking.
Edited by: "chemeng" 3rd Feb 2014

Original Poster

r40

Current Account, or Current Account Plus anyone know the difference?? … Current Account, or Current Account Plus anyone know the difference?? thanks


The only difference is with the CA+ you get a £200 arrangement free overdraft. On the standard Current, you need to pay £20 per year for an overdraft.

nicolanicolanicola

Good deal but does anyone know if co op bank match first direct in terms … Good deal but does anyone know if co op bank match first direct in terms of customer service and mobile and online banking?



Their website is pretty basic, but it does the job I guess. The mobile app is next to useless however, as you cannot do any transfers with it, you can only use it to view the last few payments on your account.

Think banking (RBS) no charges, no going overdrawn, no hidden fees & a money manager helps with balancing my finances for me, £15 per month fee instead of hundreds per month that Santander, First Direct and Lloyd's we're ripping me off for .. Takes the stress out of banking where other banks add to the stress

nicolanicolanicola

Good deal but does anyone know if co op bank match first direct in terms … Good deal but does anyone know if co op bank match first direct in terms of customer service and mobile and online banking?

been with coop for five years. cs is decent enough but their online site is ancient

E.g. cannot stop paper statements online. You can't even send them a message

This deal has reminded me to switch to first direct
Edited by: "chocci" 4th Feb 2014

chocci

been with coop for five years. cs is decent enough but their online site … been with coop for five years. cs is decent enough but their online site is ancientE.g. cannot stop paper statements online. You can't even send them a messageThis deal has reminded me to switch to first direct

Bear with them as all this will change soon...

Coop are a pleasure to deal with.
I was shocked the first time I called them and a person answered straight away and said "What can I do for you today?".



Heat from me.

volume69

Bear with them as all this will change soon...

switching to halifax today as £100 cashback

napolimp

Terrible bank.

Why are they terrible? I've banked with them for years and never had a problem, the customer service inside and online is good. The only problem I've heard which is minor is that, if you go abroad with your card without telling them - they automatically block it (which could be seen as a good thing if you lose your details online or something). So you just need to let them know before you go not to block it. Frankly this is the best current account at the moment and in terms of interest rate, up to 3% is better than most savings accounts.

Santander is worst in customer service. Terrible experience. Have taken out all my cards/accounts from them.

Smile (part of the Cooperative Banking Group) were my first current account providers and I never had any issues with them. The online offering is basic (but so is firstdirect's in my opinion) but as long as I can pay money in, have my DD's set up, and make ad-hoc BACS/debit card payments, there's not much more I need from them.

I've just completed the existing customer switch over the phone, took about 10 minutes and will take one week to complete. £100 will be credited after 30 days so long as I've credited at least £800 that month.

Free £100 is a good deal, take the money and maybe switch again, say to TescoTesco bank when their current account with cash bonus goes live.

NB. If you switch from Santander then switch back to them, its T&C allow you to GET THE SWITCH BONUS AGAIN (and maybe TCB and Amazon referral voucher)! Just switch back to them 3 months after old account closure.... but you may have write to them if they 'forget' to pay. I have done this three times. ; )

Condition 7.1 in the T&Cs:

"...switch to a qualifying current account using the full Co-operative Bank current account switch service, which will include the closure of your old account on the day that your switch completes"

I'm a bit worried about this. For those of you that have done it, is there an option to keep the account open?

Encoding

Condition 7.1 in the T&Cs:"...switch to a qualifying current account … Condition 7.1 in the T&Cs:"...switch to a qualifying current account using the full Co-operative Bank current account switch service, which will include the closure of your old account on the day that your switch completes"I'm a bit worried about this. For those of you that have done it, is there an option to keep the account open?

coop wont be able to close your old bank account

They do close the old bank account.

I rung up to switch yesterday. I was told that yes the overdraft was fee free but did have a daily interest rate. Well that's false advertising to me, fee free should mean no fees!

So I cancelled tha application. I'd rather be £100 down and stick with first direct with my £250 REAL fee free overdraft. Plus they have loads more branches.

nicolanicolanicola

They do close the old bank account. I rung up to switch yesterday. I was … They do close the old bank account. I rung up to switch yesterday. I was told that yes the overdraft was fee free but did have a daily interest rate. Well that's false advertising to me, fee free should mean no fees!So I cancelled tha application. I'd rather be £100 down and stick with first direct with my £250 REAL fee free overdraft. Plus they have loads more branches.


Only if you give them permission to do that.

Encoding

Condition 7.1 in the T&Cs:"...switch to a qualifying current account … Condition 7.1 in the T&Cs:"...switch to a qualifying current account using the full Co-operative Bank current account switch service, which will include the closure of your old account on the day that your switch completes"I'm a bit worried about this. For those of you that have done it, is there an option to keep the account open?



You would need to ask for a partial switch instead of the 7 day switch in order to keep your old account open but the switch will take longer.

Can I simply switch to the Co-op and deposit a one off of £800 in my account and still receive the £100 and £25 for charity?

Has anybody received any incentives? it seems to be a bogus scheme as you do not really charity anything, they ask you to go on to their website and select a charity organisation on a survery form lol
i have been with them for more than 6 weeks and iv still not heard anything about any incentives or charity..

amelzz_

Can I simply switch to the Co-op and deposit a one off of £800 in my … Can I simply switch to the Co-op and deposit a one off of £800 in my account and still receive the £100 and £25 for charity?



yes
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