Co-op to offer £200 to current account switchers

Wad of £20's held in hand

The Co-operative Bank has announced that new customers who switch to its current account will receive £200 - double the incentive offered by two other banks.

The offer is available to any new or existing current account customer who requests a 'full switch' from another provider. This means switching all your direct debits and standing orders to the Co-operative Bank.

Once you've completed the switch you have to credit your account with at least £800 for the first three months to receive the £200.

First Direct and Santander also offer switching incentives, but you would only get £100 to switch to one of their current accounts.

Commenting on the move, Rod Bulmer, managing director of retail at the Co-op, says: "Customers may be disillusioned with their current provider and we want to have the opportunity to prove that there are genuine alternatives to the big five banks."



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yes good idea getting people to switch their account but some people onlywork part time and dont get a monthly wage of £800 . so people like me cannot get the deals

If you don't earn £800 a month, go to the bank when you get paid and withdraw most of the cash then just pay it back in! when you get to £800 simply stop. ie. if you earn £200 per month, withdraw then pay in 4 times. Simple. It is only for 3 months after all.

Where can I get this deal from, the co-op current site is only offering a fee free £200 overdraft for dumping 800 notes in the account.

Co-op to offer £200 to current account switchers.

This Co-operative deal could be one - or maybe THE ONE - of the financial industry's best incentives yet to grab our cash. My reason for writing the Co-op has many ethical policies, and appears to have a more 'people friendly' attitude, and I'm seriously considering switching to them. I'm certainly NOT rich, repeat not, but would relish the £200 credited to add to our Pensions

Unfortunately this offer has since been pulled

When a certain Mr Lewis sends details of something like this to his 6 million email subscribers that’s what happens

The £200 offer has now been withdrawn by the Co-op - Monday 24th October.

Actually, just found out that the offer is still available but only for today and only through a branch, so get down there quick !