Co-op Bank warns customers to 'act by Friday' and says 'there's still time'

James Rodger

3 July 2024 at 5:14 am·2-min read

A major bank is set to pull its £150 free cash in THREE DAYS. The Co-operative Bank is ending its switching deal on Friday, July 5 with customers urged to take action before the end of the week.

Customers an bag £75 paid upfront for the switch, then a further £15 per month for five months to anyone who also opens a Regular Saver account - worth another £75. Anyone who makes the switch will be credited the £75 free cash within seven days of meeting all the qualifying criteria.

The bank stated: "There’s still time to switch and save, and receive up to £150. To be eligible, you’ll need to apply for a qualifying current account by the end of the day on Friday 5 July, and ensure that you meet all of the offer criteria within the timescales outlined in the T&Cs."

You can get the £150 by switching your current account and setting up a Regular Saver. "Making an eligible current account switch from another bank - we’ll give you £75 within seven days of meeting the switch criteria," it says.

"We’ll give you an extra £15 a month for up to five months and you’ll earn 7.00% interest (gross/AER variable) on balances up to a maximum of £250 per month, if you meet the criteria." To get the £75, you must do the following by the 30th day following the switch completing: deposit £1,000 or more, have two or more active Direct Debits, make ten or more card transactions and register for our online banking services or mobile app, and login.

The bank goes on to warn in its terms and conditions (T&Cs) online: "Please note: Any balances or Direct Debits transferred as part of the switch will count towards the £1,000 for the first month only."

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