Co-op members have less than one month to spend loyalty rewards balance
Co-op members have just weeks left to spend any money they've built up through its loyalty scheme.
Shoppers who are signed up to the Co-op Membership scheme used to earn 2p for every £1 spent on Co-op branded products and services. The supermarket axed this cashback perk back in January – and it set a deadline of December 31 to spend any cashback that you may have previously built up.
You can find out how much balance you have to spend by checking your latest Co-op receipt, or by logging into your account through the Co-op app or website. Co-op members will still get lower prices on hundreds of select products.
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You can only spend your rewards balance on items purchased in store – you won't be able to use it for home deliveries. Alternatively, you can also donate your balance to various causes supported by the Co-op. Independent co-operatives – such as the Central England, Chelmsford Star, Southern and Midcounties co-ops – have their own separate loyalty schemes which aren't affected by this change.
At the time, the Co-op said: "Rather than earning a few pence on rewards, our Members will now make substantial savings on their shop with immediate discounts being applied at the till. Overall, a bigger saving on Co-op, and branded products."
The Co-op revamped its loyalty scheme to include lower prices in stores on some products, following in the footsteps of Tesco and Sainsbury’s. Co-op Membership costs £1 to sign up to. However, just because something is lower in price for members, doesn't mean you can't get it cheaper still elsewhere. Always compare prices online using a shopping tool like Trolley.co.uk.
The shake-up comes as Co-op Bank relaunches its £150 switch offer for those who move their existing current account to its Standard Current Account or Everyday Extra account. To receive the switch payment of £75, in the 30 days following completion of a switch, customers must deposit a minimum of £1,000, have two active direct debits, make a minimum of ten debit card or digital wallet transactions, register for online or mobile banking and set up your debit card in a digital wallet.
To then receive £25 a month for three months after, taking your total reward to £150, you must continue to deposit a minimum of £1,000, have two direct debits and make a minimum of ten debit card or digital wallet transactions, each month. You won't be eligible if you've received a switch bonus from Co-op Bank since November 2022.
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