Page 1 of 1

Co‑operative Bank Everyday Rewards

Posted: Tue Jul 03, 2018 9:21 am
by Sarah
Similar to Halifax/Bank Of Scotland reward accounts, this credits £4/month to qualifying account holders.

However it requires paying out four (yes four) direct debits per month!

It also rewards 5p for each debit card transaction, up to maximum of £1.50/month.

Limited to 1 account per person. ... ay-rewards

Be rewarded up to £5.50 a month

* £4 for each month if you qualify.

* Up to a maximum of £1.50 extra for debit card spending each month you qualify. If you meet the criteria below, you’ll be rewarded an extra 5p every time you use your debit card to pay for things.

* No extra cost for opting in to Everyday Rewards.

To qualify you need to do the following in a calendar month

* Pay in a minimum of £800 to the nominated account.

* Stay in credit, or within your agreed arranged overdraft limit on the nominated account.

* Log in to Online Banking or the Mobile Banking app at least once during the month.

* Remain opted in for Paperless Statements on your nominated account.

* Pay out at least four Direct Debits from your nominated account.

Re: Co‑operative Bank Everyday Rewards

Posted: Thu Jul 05, 2018 8:05 pm
by Preston
Many thanks for spotting and posting this Sarah!

Mrs Preston and I have dusted off our existing, long time unused, Coop current accounts and gone for this.

I missed the convenience of the Tesco Internet Saver DD creating facility, but where there's a will there's a way! ;)

Got to like the potential of a yearly £132 for opting to go paperless and setting up a couple of funding and sweeping SO's and sitting back.

We'll be boosting our rewards by using the Coop debit card to pay for our daily Waitrose "free coffee" purchases.

Every little helps! :D

Re: Co‑operative Bank Everyday Rewards

Posted: Fri Jul 06, 2018 10:28 am
by planteria
4DDs does move them into "real current account" territory.

Re: Co‑operative Bank Everyday Rewards

Posted: Sun Jul 08, 2018 11:50 am
by Sarah
Yeah, that takes some effort, however I haven't ruled it out. I could switch a couple of BoS Vantage accounts next month. That would give me 6 assorted direct debits to work with so might be worthwhile for around £50 per year without having to leave any more than a nominal amount in there!

Re: Co‑operative Bank Everyday Rewards

Posted: Sun Sep 02, 2018 12:14 pm
by Sarah
Think I'm up and running with Co‑operative Bank Everyday Rewards now, having switched two BoS Vantage accounts last month to provide enough re-purposed direct debits for very little effort.

It can take up to a month for the first reward payments to be credited, so won't know for sure that everything is working successfully until then; in the meantime I'm going to begin having some "fun" generating lots of 5p debit card cashback payments... with my credit card cashback earnings now only 0.7% that makes these rewards a winner for transactions up to £7.15 (max 30 times per month)!

Re: Co‑operative Bank Everyday Rewards

Posted: Mon Sep 03, 2018 9:16 am
by planteria
it's a nice deal, but i find very places that i can't spend Amex, and those that don't i want to use my Barclaycard Visa.. spending on a debit card is a little anti-stooze for my liking :mrgreen:.

Re: Co‑operative Bank Everyday Rewards

Posted: Wed Mar 18, 2020 6:35 pm
by Sarah
This was one of the better account benefits remaining, not requiring much of a balance to be kept in the account and fee free too. They're making some changes from June 1st with the base reward decreasing from £4/month to £2/month and also the debit card transaction limit increasing from 30 @ 5p/each to 60 @ 5p/each. So the maximum benefit drops from £5.50 to £5.00 and also requires a lot more effort to reach that level.

Re: Co‑operative Bank Everyday Rewards

Posted: Sun May 10, 2020 6:34 pm
by DC.
I didn't know they were reducing the rewards.
I have been using this account for a while now, for depositing money into betting sites.
Recently started using chip savings, as they use your debit card to take the money out, they do it every 4 days ish.

Re: Co‑operative Bank Everyday Rewards

Posted: Tue Jun 30, 2020 7:29 pm
by Sarah
They paid me twice this month, then corrected it themselves a few days later; at least that's better than March when they mistakenly decided I didn't qualify for a payment, although quickly paid out when I complained.

I see their website now says the changes take effect from 1st August not 1st June; not sure if they moved the date, or apply it differently for newer accounts, or... anyway I achieved nearly 50 debit card transactions this month, so will find out soon!