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 until at least 2020.

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.

Co-operative Bank
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Gold ribbon: first place

Bank accounts

Ranked 5th of 34 providers reviewed.

Customer happiness 67%
Customer trust 62%
Complaints performance 64%
Transparency rating 69%
Fairer Finance score
Reviewed Autumn 2019
66%
Gold ribbon: first place

Credit cards

Ranked 10th of 32 providers reviewed.

Customer happiness 57%
Customer trust 49%
Complaints performance 65%
Transparency rating 68%
Fairer Finance score
Reviewed Autumn 2019
60%

Mortgages

Ranked 11th of 21 providers reviewed.

Customer happiness 47%
Customer trust 45%
Complaints performance 74%
Transparency rating 62%
Fairer Finance score
Reviewed Autumn 2019
57%

Savings accounts

Ranked 18th of 46 providers reviewed.

Customer happiness 53%
Customer trust 57%
Complaints performance 65%
Transparency rating 63%
Fairer Finance score
Reviewed Autumn 2019
60%

Bank accounts

Basic bank accounts

Co-operative Bank

Cashminder

4 stars
Faster Payment limit i £10,000
Maximum cash machine withdrawal per day i £250
Part of FSCS i

Current accounts

Co-operative Bank

Current Account

4 stars
Faster Payment limit i £100,000
Maximum cash machine withdrawal per day i £250
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Foreign use bank accounts

Co-operative Bank

Current Account

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £2)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Co-operative Bank

Cashminder

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £2)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Co-operative Bank

Everyday Extra

2 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i 2% (Minimum £2)
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Premium bank accounts

Co-operative Bank

Everyday Extra

4 stars
Estimated amount of money customers get back (minus annual fee) i £171.54
Maximum cash daily withdrawal ATM (domestic) i £250
Part of FSCS or international equivalent i

Credit cards

0% balance transfer credit cards

Co-operative Bank

Balance Transfer Credit Card

4 stars
Duration of balance transfer offer period i 24 months
Balance transfer fee during promotional period i 1%
Representative APR i 20.60%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.57%

0% purchase credit cards

Co-operative Bank

Balance Transfer Credit Card

3 stars
Duration of purchases offer period i 4 months
Representative APR i 20.60%
Highest APR i 20.60%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.57%
Number of days before interest is charged on purchases i 56 days

Cashback and reward credit cards

Co-operative Bank

The Co-operative Members' Credit Card

3 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £69.82
Estimated amount of money customers get back after the 1st year (minus annual fee) i £69.82
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Foreign use credit cards

Co-operative Bank

Balance Transfer Credit Card

1 stars
Representative APR i 20.60%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.57%

Co-operative Bank

3 Year Fixed Rate Credit Card

1 stars
Representative APR i 6.90%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 0.56%

Co-operative Bank

The Co-operative Members' Credit Card

1 stars
Representative APR i 18.30%
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.40%

Low rate credit cards

Co-operative Bank

3 Year Fixed Rate Credit Card

4 stars
Representative APR i 6.90%
Representative cash transaction interest rate i 2.07%
Representative purchase rate i 0.56%
Risk based? i
Representative balance transfer rate i 0.56%
Representative money transfer rate i

Co-operative Bank

Balance Transfer Credit Card

3 stars
Representative APR i 20.60%
Representative cash transaction interest rate i 2.07%
Representative purchase rate i 1.57%
Risk based? i
Representative balance transfer rate i 1.57%
Representative money transfer rate i

Co-operative Bank

The Co-operative Members' Credit Card

2 stars
Representative APR i 18.30%
Representative cash transaction interest rate i 2.07%
Representative purchase rate i 1.40%
Risk based? i
Representative balance transfer rate i 1.40%
Representative money transfer rate i