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.

Co-operative Bank
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Gold ribbon: first place

Bank accounts

Ranked 13th of 31 providers reviewed.

Customer happiness 63.54%
Customer trust 66.12%
Complaints performance 60.97%
Transparency rating 78.57%
Fairer Finance score
Reviewed Spring 2023		 67%
Gold ribbon: first place

Credit cards

Ranked 11th of 31 providers reviewed.

Customer happiness 61.85%
Customer trust 61.1%
Complaints performance 62.3%
Transparency rating 65.43%
Fairer Finance score
Reviewed Spring 2023		 63%
Gold ribbon: first place

Savings Accounts

Ranked 22nd of 53 providers reviewed.

Customer happiness 57.22%
Customer trust 65.52%
Complaints performance 60.97%
Transparency rating 83.71%
Fairer Finance score
Reviewed Spring 2023		 67%

Bank accounts

Basic bank accounts

Co-operative Bank

Cashminder

5 stars
Cash withdrawal fee in UK (own bank) i £0.00
Annual fee i £0.00
Part of FSCS i
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

Current accounts

Co-operative Bank

Current Account with everyday rewards

4 stars
Annual fee i £0.00
Maximum cash machine withdrawal per day i £500.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0.00
Card payment fee (£) i £0.00
App capability? i

Co-operative Bank

Current Account

3 stars
Annual fee i £0.00
Maximum cash machine withdrawal per day i £500.00
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0.00
Card payment fee (£) i £0.00
App capability? i

Foreign use bank accounts

Co-operative Bank

Everyday Extra with everyday rewards

1 stars
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

Co-operative Bank

Current Account

1 stars
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

Co-operative Bank

Cashminder

1 stars
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

Co-operative Bank

Student Account

1 stars
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

Co-operative Bank

Everyday Extra

1 stars
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

Co-operative Bank

Current Account with everyday rewards

1 stars
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

Overdrafts

Co-operative Bank

Everyday Extra with everyday rewards

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

Co-operative Bank

Current Account with everyday rewards

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

Co-operative Bank

Current Account

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

Co-operative Bank

Everyday Extra

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

Premium bank accounts

Co-operative Bank

Everyday Extra

5 stars
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

Co-operative Bank

Everyday Extra with everyday rewards

5 stars
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, £1 each month plus 2p for each debit card transaction up to maximum £2.20 a month
Part of FSCS or international equivalent i

Student bank accounts

Co-operative Bank

Student Account

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

Business Credit Cards

Everyday Business Credit Cards

Co-operative Bank

Business Credit Card

2 stars
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%

Foreign Use Business Credit Cards

Co-operative Bank

Business Credit Card

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

Children's Accounts

Children's Savings Accounts

Co-operative Bank

Future Fund

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

Credit cards

0% balance transfer credit cards

Co-operative Bank

Balance Transfer Credit Card

2 stars
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

0% purchase credit cards

Co-operative Bank

Balance Transfer Credit Card

3 stars
Duration of purchases offer period i 4 months
Representative APR i 20.6%
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

Cashback and reward credit cards

Co-operative Bank

The Co-operative Members' Credit Card

1 stars
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%

Foreign use credit cards

Co-operative Bank

Balance Transfer Credit Card

1 stars
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%

Co-operative Bank

3 Year Fixed Rate Credit Card

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Representative APR i 8.9%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 0.71%

Co-operative Bank

The Co-operative Members' Credit Card

1 stars
Foreign purchase fee i 2.75%
Foreign withdrawal fee i 3%
Representative APR i 18.2%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.404%

Low rate credit cards

Co-operative Bank

3 Year Fixed Rate Credit Card

5 stars
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

Home insurance (building and contents)

Co-operative Bank

Home Cover extra (Contents up to £80,000)

5 stars
Alternative accommodation cover limit for buildings i £50,000.00
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i Sum insured
Escape of water excess i £350.00
Alternative accommodation cover limit for contents i £25,000.00
Keys/locks if lost or stolen (Buildings) i Sum insured
Money in the home i £500.00
Replace belongings new for old i
Trace and access i £5,000.00
Escape of water excess (Minimum) i £350.00
Contents compulsory excess i £100.00
Additional flood excess i £0.00
Liability as a tenant i £10,000.00
Liability to domestic employees i £5,000,000.00
Property owner liability i £5,000,000.00
Buildings cover limit (Maximum) i £1,000,000.00
Contents cover limit (Maximum) i £80,000.00
Cancellation fee after 14 days i £0.00
Cancellation fee before 14 days £0.00
Visitor's possessions £1,000.00
Office equipment £0.00

Co-operative Bank

Home Cover extra (Contents up to 60,000)

5 stars
Alternative accommodation cover limit for buildings i £50,000.00
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i Sum insured
Escape of water excess i £350.00
Alternative accommodation cover limit for contents i £25,000.00
Keys/locks if lost or stolen (Buildings) i Sum insured
Money in the home i £500.00
Replace belongings new for old i
Trace and access i £5,000.00
Escape of water excess (Minimum) i £350.00
Contents compulsory excess i £100.00
Additional flood excess i £0.00
Liability as a tenant i £10,000.00
Liability to domestic employees i £5,000,000.00
Property owner liability i £5,000,000.00
Buildings cover limit (Maximum) i £1,000,000.00
Contents cover limit (Maximum) i £60,000.00
Cancellation fee after 14 days i £0.00
Cancellation fee before 14 days £0.00
Visitor's possessions £1,000.00
Office equipment £0.00

Co-operative Bank

Everyday Home Cover (Contents up to 60,000)

3 stars
Alternative accommodation cover limit for buildings i £25,000.00
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i £1,000.00
Escape of water excess i £350.00
Alternative accommodation cover limit for contents i £15,000.00
Keys/locks if lost or stolen (Buildings) i £750.00
Money in the home i £250.00
Replace belongings new for old i
Trace and access i £0.00
Escape of water excess (Minimum) i £350.00
Contents compulsory excess i £100.00
Additional flood excess i £0.00
Liability as a tenant i £10,000.00
Liability to domestic employees i £5,000,000.00
Property owner liability i £5,000,000.00
Buildings cover limit (Maximum) i £1,000,000.00
Contents cover limit (Maximum) i £60,000.00
Cancellation fee after 14 days i £0.00
Cancellation fee before 14 days £0.00
Visitor's possessions £0.00
Office equipment £0.00

Co-operative Bank

Everyday Home Cover (Contents up to £80,000)

1 stars
Alternative accommodation cover limit for buildings i £25,000.00
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i £1,000.00
Escape of water excess i £350.00
Alternative accommodation cover limit for contents i £15,000.00
Keys/locks if lost or stolen (Buildings) i £750.00
Money in the home i £250.00
Replace belongings new for old i
Trace and access i £0.00
Escape of water excess (Minimum) i £350.00
Contents compulsory excess i £350.00
Additional flood excess i £0.00
Liability as a tenant i £10,000.00
Liability to domestic employees i £5,000,000.00
Property owner liability i £5,000,000.00
Buildings cover limit (Maximum) i £1,000,000.00
Contents cover limit (Maximum) i £80,000.00
Cancellation fee after 14 days i £0.00
Cancellation fee before 14 days £0.00
Visitor's possessions £0.00
Office equipment £0.00

Buildings insurance

Co-operative Bank

Home Cover extra (Contents up to £80,000)

5 stars
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Escape of water (plus compulsory excess) i £350.00
Buildings compulsory excess i £100.00
Escape of water excess i £350.00
Unoccupied period i 60
24hr helpline i
Cancellation fee after 14 days i £0.00
Amendment fee (telephone) i £0.00
Property owner liability i £5,000,000.00

Co-operative Bank

Home Cover extra (Contents up to 60,000)

5 stars
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Escape of water (plus compulsory excess) i £350.00
Buildings compulsory excess i £100.00
Escape of water excess i £350.00
Unoccupied period i 60
24hr helpline i
Cancellation fee after 14 days i £0.00
Amendment fee (telephone) i £0.00
Property owner liability i £5,000,000.00

Co-operative Bank

Everyday Home Cover (Contents up to 60,000)

3 stars
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Escape of water (plus compulsory excess) i £350.00
Buildings compulsory excess i £100.00
Escape of water excess i £350.00
Unoccupied period i 90
24hr helpline i
Cancellation fee after 14 days i £0.00
Amendment fee (telephone) i £0.00
Property owner liability i £5,000,000.00

Co-operative Bank

Everyday Home Cover (Contents up to £80,000)

1 stars
Matching sets (Buildings) i 50% of the cost of replacing the undamaged parts
Escape of water (plus compulsory excess) i £350.00
Buildings compulsory excess i £350.00
Escape of water excess i £350.00
Unoccupied period i 90
24hr helpline i
Cancellation fee after 14 days i £0.00
Amendment fee (telephone) i £0.00
Property owner liability i £5,000,000.00

Contents insurance

Co-operative Bank

Home Cover extra (Contents up to £80,000)

5 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i Sum Insured
Windspeed (mph) i Not Defined
Property owner liability i £5,000,000.00

Co-operative Bank

Home Cover extra (Contents up to 60,000)

5 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i Sum Insured
Windspeed (mph) i Not Defined
Property owner liability i £5,000,000.00

Co-operative Bank

Everyday Home Cover (Contents up to £80,000)

3 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i £1,000.00
Windspeed (mph) i Not Defined
Property owner liability i £5,000,000.00

Co-operative Bank

Everyday Home Cover (Contents up to 60,000)

3 stars
Matching sets (contents) i 50% of the cost of replacing the undamaged parts
Theft from outbuildings cover limit i £1,000.00
Windspeed (mph) i Not Defined
Property owner liability i £5,000,000.00

Savings Accounts

1 Year Fixed Rate Accounts

Co-operative Bank

1 Year Fixed Term Deposit

Interest Rate (AER) i 4.37%
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

2 Year Fixed Rate Accounts

Co-operative Bank

2 Year Fixed Term Deposit

Interest Rate (AER) i 4.43%
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

3 Year Fixed Rate Accounts

Co-operative Bank

3 Year Fixed Term Deposit

Interest Rate (AER) i 4.5%
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

Easy Access Accounts

Co-operative Bank

Select Access Saver

Interest Rate (AER) i 1.31%
Minimum Opening Balance i £1.00
Maximum Balance i £1,000,000.00
Part of FSCS i
Withdrawal Penalty i If you make more than 4 withdrawals then the lower rate of 0.50% will be paid.
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
Penalty free withdrawals? i
Additional Information i

Co-operative Bank

Smart Saver

Interest Rate (AER) i 1.81%
Minimum Opening Balance i £1.00
Maximum Balance i £1,000,000.00
Part of FSCS i
Withdrawal Penalty 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
Penalty free withdrawals? i
Additional Information i

Savings Accounts (ISAs)

1 Year Fixed Rate ISAs

Co-operative Bank

The Co-operative Bank 1 Year Fixed Rate Cash ISA

Interest Rate (AER) i 4.46%
Minimum Opening Balance i £5,000.00
What happens at maturity? i Your provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will move the funds into a variable account.
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 subject to 180 day loss of interest.
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Co-operative Bank

Fixed Rate Cash ISA - 31/01/2024

Interest Rate (AER) i 4%
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?
Can you transfer in funds from a stocks and shares ISA?

2 Year Fixed Rate ISAs

Co-operative Bank

Fixed Rate Cash ISA - 31/01/2025

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?
Can you transfer in funds from a stocks and shares ISA?

Co-operative Bank

The Co-operative Bank 2 Year Fixed Rate Cash ISA

Interest Rate (AER) i 4.53%
Minimum Opening Balance i £5,000.00
What happens at maturity? i Your provider will contact you before when the account is approaching maturity date requesting instruction. If they receive no further instructions by the maturity date they will move the funds into a variable account.
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 subject to 180 day loss of interest.
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?

Easy Access ISAs

Co-operative Bank

Cash ISA

Interest Rate (AER) i 1.81%
Minimum Opening Balance i £1.00
Part of FSCS i
Withdrawal Penalty 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
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA?
Can you transfer in funds from a stocks and shares ISA?