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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Bank accounts

Ranked 17th of 28 providers reviewed.

Customer happiness 63.67%
Customer trust 64.27%
Complaints performance 59.12%
Transparency rating 76.14%
Fairer Finance score
Reviewed Spring 2022
66%
Gold ribbon: first place

Credit cards

Ranked 15th of 31 providers reviewed.

Customer happiness 59.53%
Customer trust 58.8%
Complaints performance 59.13%
Transparency rating 60.98%
Fairer Finance score
Reviewed Spring 2022
60%

Savings accounts

Ranked 19th of 49 providers reviewed.

Customer happiness 50%
Customer trust 62.94%
Complaints performance 59.13%
Transparency rating 82.76%
Fairer Finance score
Reviewed Spring 2022
64%

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

Current accounts

Co-operative Bank

Current Account with Everyday Rewards

5 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

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

Foreign use bank accounts

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

Current Account with Everyday Rewards

2 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

2 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

2 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

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

3 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
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
Garden plants i
Alternative accommodation cover limit for contents i £25,000.00
Alternative accommodation cover limit for buildings i £50,000.00
Cover for keys if lost i Sum Insured
Money in the home i £500.00
Replace belongings new for old i
24hr helpline i
Dual Contents i

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
Escape of water excess i £350.00
Garden plants i
Alternative accommodation cover limit for contents i £25,000.00
Alternative accommodation cover limit for buildings i £50,000.00
Cover for keys if lost i Sum Insured
Money in the home i £500.00
Replace belongings new for old i
24hr helpline i
Dual Contents i

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
Escape of water excess i £350.00
Garden plants i
Alternative accommodation cover limit for contents i £15,000.00
Alternative accommodation cover limit for buildings i £25,000.00
Cover for keys if lost i £750.00
Money in the home i £250.00
Replace belongings new for old i
24hr helpline i
Dual Contents i

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
Escape of water excess i £350.00
Garden plants i
Alternative accommodation cover limit for contents i £15,000.00
Alternative accommodation cover limit for buildings i £25,000.00
Cover for keys if lost i £750.00
Money in the home i £250.00
Replace belongings new for old i
24hr helpline i
Dual Contents i

Buildings insurance

Co-operative Bank

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

5 stars
Trace and Access i £5,000.00
Cover for keys if lost i Sum Insured
Matching sets i 50% of the cost of replacing the undamaged parts
Rainfall (mm) i Not Defined
Alternative accommodation cover limit i £50,000.00
Cover for keys if stolen i Sum Insured
Compulsory excess i £100.00
Escape of water excess i £350.00
24hr helpline i
Property owner liability i £5,000,000.00

Co-operative Bank

Home Cover extra (Contents up to 60,000)

5 stars
Trace and Access i £5,000.00
Cover for keys if lost i Sum Insured
Matching sets i 50% of the cost of replacing the undamaged parts
Rainfall (mm) i Not Defined
Alternative accommodation cover limit i £50,000.00
Cover for keys if stolen i Sum Insured
Compulsory excess i £100.00
Escape of water excess i £350.00
24hr helpline i
Property owner liability i £5,000,000.00

Co-operative Bank

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

3 stars
Trace and Access i £0.00
Cover for keys if lost i £750.00
Matching sets i 50% of the cost of replacing the undamaged parts
Rainfall (mm) i Not Defined
Alternative accommodation cover limit i £25,000.00
Cover for keys if stolen i £750.00
Compulsory excess i £100.00
Escape of water excess i £350.00
24hr helpline i
Property owner liability i £5,000,000.00

Co-operative Bank

Everyday Home Cover (Contents up to 60,000)

3 stars
Trace and Access i £0.00
Cover for keys if lost i £750.00
Matching sets i 50% of the cost of replacing the undamaged parts
Rainfall (mm) i Not Defined
Alternative accommodation cover limit i £25,000.00
Cover for keys if stolen i £750.00
Compulsory excess i £100.00
Escape of water excess i £350.00
24hr helpline i
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 i 50% of the cost of replacing the undamaged parts
Cover for keys if lost i Sum Insured
Theft from outbuildings cover limit i Sum Insured
Cycles included whilst in the home i Part of sum insured
Replace belongings new for old i
Cover for keys if stolen i Sum Insured
Money in the home i £500.00
Alternative accommodation cover limit i £25,000.00
24hr helpline i

Co-operative Bank

Home Cover extra (Contents up to 60,000)

5 stars
Matching sets i 50% of the cost of replacing the undamaged parts
Cover for keys if lost i Sum Insured
Theft from outbuildings cover limit i Sum Insured
Cycles included whilst in the home i Part of sum insured
Replace belongings new for old i
Cover for keys if stolen i Sum Insured
Money in the home i £500.00
Alternative accommodation cover limit i £25,000.00
24hr helpline i

Co-operative Bank

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

4 stars
Matching sets i 50% of the cost of replacing the undamaged parts
Cover for keys if lost i £750.00
Theft from outbuildings cover limit i £1,000.00
Cycles included whilst in the home i Part of sum insured
Replace belongings new for old i
Cover for keys if stolen i £750.00
Money in the home i £250.00
Alternative accommodation cover limit i £15,000.00
24hr helpline i

Co-operative Bank

Everyday Home Cover (Contents up to 60,000)

4 stars
Matching sets i 50% of the cost of replacing the undamaged parts
Cover for keys if lost i £750.00
Theft from outbuildings cover limit i £1,000.00
Cycles included whilst in the home i Part of sum insured
Replace belongings new for old i
Cover for keys if stolen i £750.00
Money in the home i £250.00
Alternative accommodation cover limit i £15,000.00
24hr helpline i