£150 Cashback when you switch your Current Account to the Co-operative Bank- T&Cs apply.
You will be considered a new customer if you do not already have a Co‑operative Bank or smile current account of any type as at 3 May 2016.
You will be eligible for this offer if you are a new customer unless you have previously received any other incentive, offer or benefits for switching to a Co‑operative Bank or smile current account at any point since January 2014.
If you are an eligible new customer, you will qualify for this offer if you:
-open a new Co‑operative Bank standard Current Account;
-switch your main current account to your new current account using the full Current Account Switch Service, which will include the closure of your old account on the day that your switch completes; and
-switch in a minimum of four active Direct Debits to your new current account, which must remain active until the incentive payment is made.
Top comments
lhwjud
19 Jul 163#1
Don't bother with them. Worst customer service in the banking industry.
Latest comments (37)
owenhehe
26 Jul 16#37
Not really a great deal, unless you have a completely useless current account specifically opened for switching.
I have a fairly under used (zero balance for almost 6 months) current account with Nationwide. But they offer a very good credit card deal, 0.5% cash back on all spendings. The cashback alone would give me £80-£120 every year. Not worth the hassle to switch to CO-OP, considering they do not have similar credit card deal.
I will have to open a new current account to take advantage of this deal, :,(
ST3123
22 Jul 16#36
I spoke to them on the phone today about this offer and got some good responses. They also clarified that there currently is no set closing date for this offer, which is good news for those wanting to set up direct debits to get ready for this offer. I'd also say the title should probably be modified since there doesn't seem to be a hard deadline on this deal yet.
Also, is anyone able to confirm if there is a minimum pay in attached to this deal? As the person I spoke to on the phone made no mention of one and this thread doesn't but a related thread I saw on HUKD ( http://www.hotukdeals.com/deals/maximise-bank-switch-incentives-earn-up-700-one-guide-2079867 ) states a £800 minimum pay in, in addition to the 4 DDs, I sincerely hope it's wrong(?), otherwise I'm out as I just don't have enough spare cash sitting around for that unfortunately....
Shayno
21 Jul 16#35
About 4 times this year I have had my online purchases blocked with Halifax as they think its a fraudulent transaction. I then have to phone them up and go through about 30 questions just for them to activate it again. Now I woke up to a voicemail again this morning regarding my card. I wouldn't mind if it was being used by a fraudster (well I would) but it's not, it's just me buying stuff online. Highly annoying, although I did get £100 for switching to them and get cashback via retail stores/companys on their online banking cashback section. £10 is due at end of month but this deal expires then, so need to switch over on 31st and make some DD mag subscriptions. That's why I want to know when they become active :smile:
ST3123
21 Jul 16#34
Yes, i'd be interested to know that too, also how long after ordering them until the DD is classed as "active"?
I could use my main account, which already has enough active DDs running but am wary in case of any issues upsetting vital DD payments like monthly bills. Whilst I have been with the bank (RBS) for over 16 years and haven't had any major issues, I have no particular loyalty to them either, and as they are changing into a completely different bank in the next year or so I may be wise to move.
Also what happens to your credit card when you switch accounts (mine is with my bank)?
Shayno
21 Jul 16#33
Do these magazine subscriptions create a direct debit
Do these magazine subscriptions create a direct debit on the trail or just charge a £1, then create a direct debit if you carry on after the trial period? Also when is a direct debit created, when I make the order or when the first issue is dispatched/received?
yogakev
20 Jul 16#32
I've been with co-op bank for 20 years and have always found their customer service excellent. They have always waived any overdraft charges I've had, and when there was some fraudulent withdrawals from my account they had the money back in my account that day. Would definitely recommend.
Tequila
20 Jul 16#31
don't bother.probably the worst bank with worst system and poor services.
cliosport65
20 Jul 16#30
thanks not what I wanted to hear need to close my HSBC account next month and was hoping to do this :neutral_face:
RayB
20 Jul 16#29
Top Cashback offer £50 cashback - the £150 comes from the Co-op Bank. You can also get £4 a month if you pay in £800 or more a month, plus 50p for each debit card transaction up to £1.50 a month. First year, total incentives can amount to £266. Its a good offer but I have been with the Co-op Bank before!!! Not long ago as well, when they messed up on my application and I got £50 from the Ombudsman for their poor admin., so I hesitant to try this offer. Are the incentives worth the potential hassle?
Someone mentioned the Halifax Bank - they also pay £5 a month if you are in credit. Don't know how much cashback you can get - best to check. See moneysavingexpert.com website for advice on current accounts.
ma6jrp
20 Jul 16#28
I checked the emails and can't see this end date and is not showing on the Best current account pages on MSE. So not sure it does end then or they changed there mind. There is also nothing on the Coop page.
ST3123
20 Jul 16#26
I'm interested in doing this for the £150 but the direct debit thing concerns me. I have switched an account before (not to cooperative), which went fine but there was no DD requirement.
How are the DDs actually transferred? Is it done automatically with the switch of the account? or do you have to manually re-set up each DD in your new account?
If one of the DDs is say a monthly bill could it result in payment failure if the DD requests during the switch process?
ma6jrp to ST3123
20 Jul 16#27
I have done a few and never had an issues with DD's. What helps now is that credits are also forwarded for three years, which is a big change from the previous system.
liamwba1
20 Jul 16#25
FD usually charge £10 a month usually but this is postponed for the first 6 months and is only if you don't pay in a certain amount per month. Halifax is quite the opposite, they pay you £5 a month if you pay in at least £750 a month. Just do the FD switch first and then once paid immediately go to Halifax.
rooney10
19 Jul 161#2
Still waiting for my TCB switching incentive offered at the start of January ..... think it was 8 weeks payable , then changed to 12 , then to 19 and I believe we are now on 29 weeks payable.
It is a complete joke , it really is. I wouldn't count on this paying out either without chasing it up .... terrible company !
cornishnick to rooney10
20 Jul 161#24
Exactly the same experience, wouldn't bother if you wanted cashback this year
johnraggett
20 Jul 16#23
Halifax one, now £100 a month
ilovefullstops
20 Jul 16#22
I did the halifax one just the other month, £125 and literally no strings attached. No need for salary or DD's or anything. Was great. Got the £125 pretty sharp and I've started to use the account actually cause if you transfer in £750 p/mth you get a free £5 and I just budget with the £750, leaves me old account(s) as a kind of savings current account with whatever is left over. Would recommend :smiley:
mexicobart
20 Jul 161#21
I switched to co-op without any problems, got the bonus after 45 days as stated in the t&c! €150 in my pocket, good stuff
mikem1989
19 Jul 16#10
what's the easiest/cheapest way of adding 4 direct debits to my 2nd bank account which I am willing to use as a donor.
lucas to mikem1989
20 Jul 161#20
£1 magazine subscriptions that last 3 months. Viz for example
cliosport65
19 Jul 16#16
how do you know it will end 1st August ?
caroline57 to cliosport65
20 Jul 161#19
I opened last weeks Martin Lewis email so checked it out and saw that it was on until 1st August :smiley:
liamwba1
20 Jul 16#17
To those complaining about setting up DDs, just switch to FD or Halifax instead. No DDs required and Halifax pay in a matter of days.
den169 to liamwba1
20 Jul 16#18
Don't they want £15 a month charge though.
cliosport65
19 Jul 161#15
DDs not SOs :wink:
hielliot
19 Jul 161#9
Get a tesco savings account, or two, and setup a couple of £1 DD's paying from your bank account into that your tesco savings account
I did some research last year before opting for The Co-Op for a new current account. I realised that my beloved Nat West and nearly all of the other high street banks directly finance the arms industry. That means your money sitting in your current account is being used to support some very nasty regimes. Well done OP for finding this - bank with the Co-Op and have a cleaner conscience. :sunglasses:
You did your homework so well but you obviously missed all of the stories about the co-op, try googling co-op bank and arms trade, drug scandal,even something as simple as bad press :disappointed:
muffboy
19 Jul 161#8
It's P*ss easy to switch DD's these days compared to a few years ago!
karlie88
19 Jul 161#6
Ta OP, voted hot.
Might be worth changing '£150 cashback' to '£150 switch incentive'. I thought it was a TCB/Quidco offer. Providing you follow the requirements, you will get the £150 from them. Different kettle of fish with TCB/Quidco though...
caroline57 to karlie88
19 Jul 16#7
Thanks Karlie I shall do..don't want to confuse people!
RogerN
19 Jul 16#4
But why not get a free £150 for switching from a spare bank account, can always switch again or close account once cash paid. Shame 4 x preexisting DDs required, no way to do that in time
rooney10 to RogerN
19 Jul 162#5
4 x DDs seems to be the way these are going now ..... the days of switching just 2 DDs will soon be a distant memory.
caroline57
19 Jul 16#3
I am sorry to hear that, friends of mine have really recommended and so far I would rate The Co-Op looking forward to using my account and spends.
lhwjud
19 Jul 163#1
Don't bother with them. Worst customer service in the banking industry.
![Fresh Breakfast Meat Box (Using code) @ Campbells Meat [Haggis / Lorne Sausage / Bacon / Black Pudding & More]](/images/topics/208684_1.jpg)
![[Xbox One] Q. u. b. e: Director's Cut on Deals with Gold](/images/topics/208716_1.jpg)
Opening post
You will be considered a new customer if you do not already have a Co‑operative Bank or smile current account of any type as at 3 May 2016.
You will be eligible for this offer if you are a new customer unless you have previously received any other incentive, offer or benefits for switching to a Co‑operative Bank or smile current account at any point since January 2014.
If you are an eligible new customer, you will qualify for this offer if you:
-open a new Co‑operative Bank standard Current Account;
-switch your main current account to your new current account using the full Current Account Switch Service, which will include the closure of your old account on the day that your switch completes; and
-switch in a minimum of four active Direct Debits to your new current account, which must remain active until the incentive payment is made.
Top comments
Latest comments (37)
I have a fairly under used (zero balance for almost 6 months) current account with Nationwide. But they offer a very good credit card deal, 0.5% cash back on all spendings. The cashback alone would give me £80-£120 every year. Not worth the hassle to switch to CO-OP, considering they do not have similar credit card deal.
I will have to open a new current account to take advantage of this deal, :,(
Also, is anyone able to confirm if there is a minimum pay in attached to this deal? As the person I spoke to on the phone made no mention of one and this thread doesn't but a related thread I saw on HUKD ( http://www.hotukdeals.com/deals/maximise-bank-switch-incentives-earn-up-700-one-guide-2079867 ) states a £800 minimum pay in, in addition to the 4 DDs, I sincerely hope it's wrong(?), otherwise I'm out as I just don't have enough spare cash sitting around for that unfortunately....
I could use my main account, which already has enough active DDs running but am wary in case of any issues upsetting vital DD payments like monthly bills. Whilst I have been with the bank (RBS) for over 16 years and haven't had any major issues, I have no particular loyalty to them either, and as they are changing into a completely different bank in the next year or so I may be wise to move.
Also what happens to your credit card when you switch accounts (mine is with my bank)?
Do these magazine subscriptions create a direct debit on the trail or just charge a £1, then create a direct debit if you carry on after the trial period? Also when is a direct debit created, when I make the order or when the first issue is dispatched/received?
Someone mentioned the Halifax Bank - they also pay £5 a month if you are in credit. Don't know how much cashback you can get - best to check. See moneysavingexpert.com website for advice on current accounts.
How are the DDs actually transferred? Is it done automatically with the switch of the account? or do you have to manually re-set up each DD in your new account?
If one of the DDs is say a monthly bill could it result in payment failure if the DD requests during the switch process?
It is a complete joke , it really is. I wouldn't count on this paying out either without chasing it up .... terrible company !
http://www.telegraph.co.uk/news/politics/12192485/Crystal-Methodist-Former-Co-op-bank-boss-in-drugs-and-rent-boys-binge.html
https://makewealthhistory.org/2009/05/08/is-your-bank-financing-the-arms-industry/
http://www.independent.co.uk/news/uk/home-news/uk-banks-fund-deadly-cluster-bomb-industry-2338168.html
Might be worth changing '£150 cashback' to '£150 switch incentive'. I thought it was a TCB/Quidco offer. Providing you follow the requirements, you will get the £150 from them. Different kettle of fish with TCB/Quidco though...