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Charlie Don't Surf

Coop Screwed Me Out Of 2% On Fixed Term

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I don't know if anyone remembers the Coop fixed term deposit around about May last year. I took one out at 7% and then recieved a letter quoting 5.25%.

I remember at the time phoning them and saying WTF is this and they told me that was wrong and it was definitely 7%.

1 year on transpires they were talking shit and I only got the 5.25% - that was a pretty mediocre rate back in 2008 so there is no way I'd have gone for it.

Can anyone remind me what the exact rate should have been around April last year - they screwed up so it took a month to go through

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Had same problem, albeit they reduced my interest rate from 5.2% to 4.1%. Systems error, of course! Closer inspection showed that they only started paying interest a week after the account had been opened, and two weeks after I had given them my cheque (at their request,"you can't open that account by transfer").

I wrote pointing out their mistakes and asked why my one-year fixed rate was only 11.5 months and at the wrong rate?

After several letters they agreed to repay interest from account opening, but then failed to credit my account.

After another complaint, dealt with by their "escalations unit" they credited me with a lesser figure than first agreed.

Says it all really when you need an extra unit to deal with unresolved complaints, and then they get it wrong! Still they do claim to be "ethical", pity they can't claim to be competent.

Edited by RibbleValleyRover

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Co-op bank ethical? Good joke :D

Being ethical means more that just not investing in tobacco and arms companies, maybe they'll realise that one day although I'm not holding my breath.

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