Co-operative Bank

The Co-operative Bank was formed in 1872. In 2002 the parent company The Co-operative Group brought the bank and created a new holding society, Co-operative Financial Services, which in 2011 became the Co-operative Banking Group. Following restructuring, the Co-operative Group no longer owns a stake in the bank but it will continue to use the Co-operative branding.

It offers a number of banking services, including credit cards, personal loans and mortgages. It continues to own the digital banking brand Smile.

Their headquarters are based in Manchester, UK.

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Bank accounts

Ranked 10^th of 30 providers reviewed.

Customer happiness score	63.05%
Customer trust score	64.05%
Complaints performance	59.83%
Transparency rating	78.29%
Fairer Finance score Reviewed Autumn 2023	66%

Credit cards

Ranked 12^th of 34 providers reviewed.

Customer happiness score	58.71%
Customer trust score	56.6%
Complaints performance	60.59%
Transparency rating	72.69%
Fairer Finance score Reviewed Autumn 2023	62%

Savings Accounts

Ranked 30^th of 53 providers reviewed.

Customer happiness score	55.2%
Customer trust score	65.95%
Complaints performance	59.92%
Transparency rating	80.09%
Fairer Finance score Reviewed Autumn 2023	65%

Cash withdrawal fee in UK (own bank) i	£0.00
Annual fee i	£0.00
Part of FSCS i
Bankers draft/cheque fee i	£10.00
Unpaid transaction fee i	£0.00
Faster Payment limit i	£100,000.00
Maximum cash machine withdrawal per day i	£250.00
Can you use your card to pay for items overseas? i

Foreign cash withdrawal fee i	2.75%
Foreign cash withdrawal additional charge i	£0.00
Foreign purchases fee i	2.75%
Is there a limit on free cash withdrawals? i	No free cash withdrawals

Risk based overdraft? i
Arranged overdraft interest free amount i	£0.00
Arranged overdraft interest rate (representative EAR) i	35.9%

Add-ons, cashback and rewards i	Worldwide travel insurance (including winter sports) for holder & family from AXA, UK and European RAC breakdown insurance, mobile phone insurance from LSG
Part of FSCS or international equivalent i

Arranged overdraft limit i	£2,000.00
Tiered repayment of overdraft i
Switching / sign up incentive i

Representative APR i	21.8%
Annual fee in first year i	£24.00
Using card in Europe charge i	2.75%
Using card worldwide charge i	2.75%

Account Type i	Easy Access
Interest Rate (AER) i	1.81%
Minimum Opening Balance i	£1.00
Maximum Balance i	£1,000,000.00
Notice Period i
Fixed Term Length i
Minimum Age to Open Account i	0
Maximum Age i	17
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i
Additional Information i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Duration of 0% balance transfer offer period i	24 months
Balance transfer fee during promotional period i	3%
Representative APR i	20.6%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3%
Representative balance transfer rate i	1.571%
Risk based? i

Duration of purchases offer period i	4 months
Representative APR i	20.6%
Highest APR i	20.6%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.571%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Reward extras i
Representative APR i	18.2%
Risk based? i
Annual fee in first year i	£0.00
Annual fee after first year i	£0.00
Foreign purchase fee i	2.75%

Theft from outbuildings i	Sum insured
Matching sets (contents) i	50% of the cost of replacing the undamaged parts
Alternative accommodation cover limit for buildings i	£50,000.00
Protection against inflation (Buildings)
Contents cover limit i	£80,000.00
Money in the home i	£500.00
Visitor's possessions i	£1,000.00
Office equipment i	£15,000.00
Buildings cover limit i	£1,000,000.00
Trace and access i	£5,000.00
Keys/locks if lost or stolen (Buildings) i	Sum insured
Alternative accommodation cover limit for contents i	£25,000.00
Cancellation fee within 14 days i	£0.00
Cancellation fee after 14 days i	£0.00
Contents compulsory excess i	£100.00
Flood excess i	£500.00
Escape of water excess (minimum) i	£500.00
Property owner liability i	£5,000,000.00
Liability to domestic employees i	£10,000,000.00
Liability as a tenant i	£10,000.00
Replace belongings new for old i

Theft from outbuildings i	£1,000.00
Matching sets (contents) i	50% of the cost of replacing the undamaged parts
Alternative accommodation cover limit for buildings i	£25,000.00
Protection against inflation (Buildings)
Contents cover limit i	£80,000.00
Money in the home i	£250.00
Visitor's possessions i	£0.00
Office equipment i	£5,000.00
Buildings cover limit i	£1,000,000.00
Trace and access i	£0.00
Keys/locks if lost or stolen (Buildings) i	£750.00
Alternative accommodation cover limit for contents i	£15,000.00
Cancellation fee within 14 days i	£0.00
Cancellation fee after 14 days i	£0.00
Contents compulsory excess i	£100.00
Flood excess i	£500.00
Escape of water excess (minimum) i	£500.00
Property owner liability i	£5,000,000.00
Liability to domestic employees i	£10,000,000.00
Liability as a tenant i	£5,000.00
Replace belongings new for old i

Matching sets (Buildings) i	50% of the cost of replacing the undamaged parts
Frozen pipes i
Escape of water excess for buildings i	£500.00
Underground pipes, cables and tanks i	Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i	£100.00
Unoccupied period i	60 days
Helpline i
Cancellation fee after 14 days (buildings) i	£0.00
Amendment fee (telephone) i	£0.00
Property owner liability i	£5,000,000.00

Matching sets (Buildings) i	50% of the cost of replacing the undamaged parts
Frozen pipes i
Escape of water excess for buildings i	£500.00
Underground pipes, cables and tanks i	Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i	£100.00
Unoccupied period i	90 days
Helpline i
Cancellation fee after 14 days (buildings) i	£0.00
Amendment fee (telephone) i	£0.00
Property owner liability i	£5,000,000.00

Foreign purchase fee i	2.75%
Foreign withdrawal fee i	3%
Representative APR i	20.6%
Number of days before interest is charged on non-sterling cash transactions i	0 days
Risk based? i
Representative purchase rate i	1.571%

Representative APR i	8.9%
Highest APR i	18.2%
Representative purchase rate i	0.71%
Risk based? i
Representative balance transfer rate i	0.71%
Representative money transfer rate i

Interest Rate (AER) i	4.53%
Minimum Opening Balance i	£1,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

Interest Rate (AER) i	4.25%
Minimum Opening Balance i	£1,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

Interest Rate (AER) i	4.12%
Minimum Opening Balance i	£1,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i

Interest Rate (AER) i	1.31%
Balance Tiers i	1.31% from £1
Minimum Opening Balance i	£1.00
Withdrawal Penalty i	If you make more than 4 withdrawals then the lower rate of 0.50% will be paid.
Part of FSCS i
Maximum Balance i	£1,000,000.00
Minimum Age to Open Account i	16
Penalty free withdrawals? i
Sharia Account i
Additional Information i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Interest Rate (AER) i	7%
Maximum Balance i	£3,000.00
Withdrawal Penalty i
Minimum Monthly Investment i	£0.00
Maximum Monthly Investment i	£250.00
Minimum Opening Balance i	£1.00
Minimum Age to Open Account i	16
Sharia Account i
Part of FSCS i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Notice Period i
Fixed Term Length i	1 Year Bond
Additional Information i

Interest Rate (AER) i	4.5%
Minimum Opening Balance i	£5,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i	Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

Interest Rate (AER) i	4.06%
Minimum Opening Balance i	£5,000.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be transferred into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i	Earlier access costs 180 days interest
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i

Co-operative Bank

Bank accounts

Basic bank accounts

Current accounts

Foreign use bank accounts

Overdrafts

Premium bank accounts

Student bank accounts

Business Credit Cards

Everyday Business Credit Cards

Foreign Use Business Credit Cards

Children's Accounts

Children's Savings Accounts

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Cashback and reward credit cards

Foreign use credit cards

Low rate credit cards

Home insurance (building and contents)

Buildings insurance

Contents insurance

Savings Accounts

1 Year Fixed Rate Accounts

2 Year Fixed Rate Accounts

3 Year Fixed Rate Accounts

Easy Access Accounts

Regular Savers

Savings Accounts (ISAs)

1 Year Fixed Rate ISAs

2 Year Fixed Rate ISAs

Easy Access ISAs

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