Co-operative Bank

The Co-operative Bank is now owned by a consortium of hedge funds and private equity investors. The Co-operative Group no longer owns any stake in the business, but has an agreement with the bank to allow it to continue using its name until 2020.

As part of the agreement, Co-op Bank has to undergo regular self-audits to prove that it is meeting the ethical standards set by the Co-op Group.

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

Co-operative Bank
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Gold ribbon: first place

Bank accounts

Ranked 4th of 30 providers reviewed.

Customer happiness 66%
Customer trust 61%
Complaints performance 77%
Transparency rating 72%
Fairer Finance score
Reviewed Spring 2019
69%
Gold ribbon: first place

Credit cards

Ranked 2nd of 34 providers reviewed.

Customer happiness 55%
Customer trust 51%
Complaints performance 77%
Transparency rating 75%
Fairer Finance score
Reviewed Spring 2019
65%

Mortgages

Ranked 21st of 23 providers reviewed.

Customer happiness 46%
Customer trust 38%
Complaints performance 68%
Transparency rating 44%
Fairer Finance score
Reviewed Spring 2019
49%
Gold ribbon: first place

Savings accounts

Ranked 9th of 42 providers reviewed.

Customer happiness 54%
Customer trust 54%
Complaints performance 77%
Transparency rating 68%
Fairer Finance score
Reviewed Spring 2019
63%

Credit cards

0% balance transfers

Co-operative Bank

Balance Transfer Credit Card

3 stars
Balance transfer rate during promotional period i 0%
Duration of offer period for 0% balance transfers i 24 months
Representative APR i 20.60%
Risk based? i
Representative balance transfer rate i 1.57%

0% purchases

Co-operative Bank

Balance Transfer Credit Card

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

Cashback and rewards

Co-operative Bank

The Co-operative Members' Credit Card

4 stars
Reward extras i
Estimated amount of money customers get back in the 1st year (minus annual fee) i £105.49
Estimated amount of money customers get back after the 1st year (minus annual fee) i £105.49
Risk based? i
Annual fee after 1st year i £0
Foreign purchase fee i 2.75%

Foreign use

Co-operative Bank

Balance Transfer Credit Card

2 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

2 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

2 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

Co-operative Bank

3 Year Fixed Rate Credit Card

4 stars
Representative APR i 6.90%
Representative cash transaction 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

The Co-operative Members' Credit Card

4 stars
Representative APR i 18.30%
Representative cash transaction 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

Co-operative Bank

Balance Transfer Credit Card

3 stars
Representative APR i 20.60%
Representative cash transaction 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