The Co-Operative Bank is currently not offering a switching deal. The information below is for reference only. For switching deals & sign-up bonus offers available now, make sure to check out our switching deals guide and sign-up bonus deals guide.
Not long after the end of its £160 switching bonus, The Co-operative Bank launched a new £150 “switch and stay” incentive on 27 September, 2024. We explain what you have to do to get the money. To compare all the latest switching deals, check out our switching deals guide.
You can get £150 in total when switching to The Co-operative Bank. This is split into £75 upfront followed by £25 per month for a further 3 months – so the deal straddles 4 months in total. Existing current account customers can qualify as well as new customers.
To get the initial £75, you need to request a full switch from another bank. You can switch as part of opening a new Standard Current Account. Alternatively, you can apply for this account or the Everyday Extra account, which has a £15 monthly fee and comes with perks, and request a switch within 2 weeks of the account opening. The final option is to switch a current account from another bank to an existing Co-op Bank account. The list of accounts includes the Standard Current Account, Privilege, Privilege Premier, Current Account Plus and Everyday Extra account. As part of the switch, your direct debits, standing orders and bill payments will be moved to your new account.
Then, during the first 30 days after the switch, you’ll have to deposit £1,000 or more (if you transferred a balance of this amount as part of the switch, that counts), have at least 2 active direct debits, make 10 or more card or digital wallet transactions, register for online or mobile app banking and set up the debit card in a digital wallet such as Apple Pay, Samsung Wallet or Google Pay. You’ll get the first £75 with 7 days of doing all this.
The second part of the deal gets you £25 a month, for 3 months. To qualify for this, you must deposit £1,000 or more each month, make 10 or more card or digital wallet transactions and have at least 2 direct debits active.
Bear in mind that an Everyday Extra account costs £15 per month, so you’ll pay more than your £150 switch bonus over the course of a year.
New and existing customers are eligible to claim this switch bonus from Co-operative Bank.
You can’t qualify if:
The offer launched on 27 September and has no confirmed expiry date.
The Co-operative Bank has run switching offers and similar deals in the past. During 15 July – 10 August, 2024, it ran a £160 switch deal on its Everyday Extra packaged account (which costs £15 a month and comes with perks). And there was a Refer a Friend Switching Offer from November to December 2022, where both you and a friend could get £125 each when switching to Co-operative Bank.
The bank also had a £150 bank switching bonus in June 2024, where you could get £75 upfront plus another £75 if you ticked the right boxes for a few months, like meeting minimum deposit amounts.
If you’ve taken part in a Co-operative Bank switching deal previously, you should always check the terms and conditions before trying to use a new one. This is because there’s often a clause which states you cannot claim two switching deals within a certain amount of time.
To make comparing even easier we came up with the Finder Score. Fees, features and customer service across 20+ of the most popular banks are all weighted and scaled to produce a score out of 10. The higher the score the better the account – simple.
Read the full methodologyIf this offer is not for you, we also have a guide displaying current banking switching deals on the market and also other banking offers such as refer-a-friend offers and more.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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