With the Co-op’s current accounts, you can get a range of benefits and features while also supporting their ethical approach to banking. It also runs switching incentives from time to time. Here’s an overview of the current accounts offered.
Types of current account from The Co-operative Bank
Current account
Attractive features of The Co-operative’s main current account include monthly rewards via their everyday rewards opt-in, a mobile app and no monthly fee.
Everyday extra
The everyday extra account comes with worldwide travel insurance, UK and European breakdown cover and mobile phone insurance from. You’ll need to hold a current account or current account plus with The Co-operative Bank in order to upgrade to this account, and you’ll need to pay a monthly fee.
Cashminder
This account offers a simplified way of managing funds for those who may not qualify for other accounts. There’s no overdraft facility, cheque book or monthly account fee, ensuring a greater degree of control over your spending. Unless you’re in financial difficulty, you can’t open this account if you already have an account with Co-operative Bank or smile.
Student accounts
The bank’s student account offers an interest-free overdraft, starting at £1,400.
The Co-operative bank offers bank accounts specially designed for students. Learn more about its student account offerings.
Does The Co-operative Bank offer any promotions, discounts or refer-a-friend offers?
Yes, you can open a joint account with The Co-op Bank. It is also one of the few banks in the UK that lets you open a joint account with more than 2 people, with 3 people allowed to open an account together. You can apply online or in branch.
Does The Co-operative Bank offer premium accounts?
Yes, The Co-op Bank offers a packaged account, which is its Everyday Extra account. It costs £15 a month and comes with mobile phone insurance, worldwide travel insurance breakdown cover.
The Co-operative Bank customer reviews
In our independent 2024 customer satisfaction survey, 84% of The Co-Operative Bank’s users said they’d recommend the brand to a friend. Customers highlighted the bank’s excellent customer service and straightforward bank accounts. However, some cited a lack in loyalty rewards and outdated online banking. Here’s what some of those Co-Operative Bank customers had to say:
“I love the bank’s ethos and transparency. It gives me everything I need from a bank online, great customer service too.”
“It is a great bank, that are reliable and are always there to help if you need them”
“This bank has always been perfect for my needs and has provided good service and ethical standards.”
On reviews site Trustpilot, The Co-Operative Bank has a score of 4.1 out of 5 from 10,600 reviews. On the Apple App Store, it’s rated 4.8 out of 5 from almost 65,000 reviews, while its Google Play Store score is 4.4 out of 5 from over 41,000 reviews (November 2024).
Pros and cons of banking with The Co-operative Bank
Perks. Perks include quick and simple switching with The Co-operative’s current account switch guarantee, no monthly fees, monthly rewards and an ethical approach to banking.
Multiple ways to bank. The Co-operative Bank offers a range of ways to handle your funds, including a mobile app and a network of branches.
Global acceptance. If you bank with The Co-operative Bank, you’ll get a Visa Debit card, so you don’t have to worry about card acceptance no matter where you are in the world.
Round the clock assistance. If you lose your card, or if it’s stolen, you can call The Co-operative Bank 24/7 to get assistance. You can also use the mobile banking app to manage your money round the clock.
Small branch network. Unlike larger high street banks, The Co-operative Bank doesn’t have that many physical branches across the country.
Packaged account fees. The monthly fees for Co-op’s Everyday Extra packaged account are high when compared to rivals’ packaged account offerings.
Customer service information for The Co-operative Bank
Email support
Telephone support
In-app or live chat
Contact form
Branch support
Opening an account with The Co-operative Bank
You can apply to open an account either in store or online. Information you’ll need includes how much you earn (including pensions or benefits), any previous addresses from the last 3 years, the name and address of your employer and your current bank details. Your credit will be checked using a credit reference agency. You should hear a decision about your application within 5 working days. If you don’t hear from them, you can contact The Co-operative Bank by phone on +44(0)3457 212 212.
No one jumps for joy at the prospect of diving into T&Cs, but it's your shot to unveil any legal mysteries before tapping "I agree". Co-op's current account terms and conditions are more complex than the average we encountered while assessing 16 of the most popular UK account providers. They should take about 49 minutes to read.
Our verdict: Is The Co-operative Bank a good bank?
The Co-Operative Bank offers great current accounts if you’re looking to earn rewards for spending with no monthly fees.
Frequently asked questions
If you want to close your account with The Co-op Bank, simply fill in their account closure form, which can be found on their website, and return to the provided address. If you want to see a copy of your payment transaction history, you can request one at any time within five years of your account’s closure.
While the current and Cashminder accounts don’t charge monthly fees, there is a £15 fee for maintaining the everyday extra account. You may also incur charges for foreign transactions, electronic payments and copies of your statements
Yes. Overdraft charges for one charging period are capped at £60, which includes debit interest.
Yes, your eligible deposits up to a total of £85,000 are protected by the FSCS. Any deposits exceeding this number are unlikely to be covered.
Banking scores
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
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.
Nick Renaud-Komiya has been a writer and reporter for nine years, covering a range of consumer issues from energy suppliers to banking and mortgage issues. He enjoys helping people take control of their personal finances and better understand their consumer rights. Nick’s consumer writing and money journalism has been featured in a range of outlets including MoneySavingExpert.com, The Sunday Mirror, The Independent and Money.co.uk. Outside of work Nick enjoys cooking and collecting old David Bowie merch. See full bio
Jason is a writer and editor. He worked as a senior subeditor for Finder for 5 years and in that time became familiar with a wide range of financial products and services. Before that, he worked for Australian Associated Press. He has a BA from Macquarie University in Australia. Jason loves to help other people find new ways to save money. See full bio
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