Co-operative Bank

The Co-operative Bank is now owned by a consortium of hedge funds. The Co-operative Group no longer owns any stake in the business, but the bank has an agreement with Co-operatives UK, the network for British co-operatives, to allow it to continue using the Co-operative name until at least 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%

Bank accounts

Basic bank accounts

Current accounts

Foreign use bank accounts

Co-operative Bank

Current Account

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Co-operative Bank

Cashminder

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Co-operative Bank

Everyday Extra

1 stars
Limit to non-sterling cash withdrawal before increase in withdrawal fee i

Overdrafts

Packaged bank accounts

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 credit cards

Co-operative Bank

Balance Transfer Credit Card

3 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

3 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

3 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