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 34 providers reviewed.

Customer happiness 64.89%
Customer trust 63%
Complaints performance 67.61%
Transparency rating 69.9%
Fairer Finance score
Reviewed Spring 2021
66%
Gold ribbon: first place

Credit cards

Ranked 6th of 28 providers reviewed.

Customer happiness 58.06%
Customer trust 59.05%
Complaints performance 67.62%
Transparency rating 67.77%
Fairer Finance score
Reviewed Spring 2021
63%

Savings accounts

Ranked 19th of 50 providers reviewed.

Customer happiness 49.61%
Customer trust 62.36%
Complaints performance 67.62%
Transparency rating 79.65%
Fairer Finance score
Reviewed Spring 2021
65%

Bank accounts

Basic bank accounts

Co-operative Bank

Cashminder

5 stars
Faster Payment limit i £100,000
Annual fee i £0
Maximum cash machine withdrawal per day i £500
Part of FSCS i

Current accounts

Co-operative Bank

Current Account with Everyday Rewards

5 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £500
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Co-operative Bank

Current Account

4 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £500
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

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Co-operative Bank

Cashminder

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Co-operative Bank

Student Account

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Co-operative Bank

Everyday Extra

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Co-operative Bank

Current Account with Everyday Rewards

1 stars
Foreign cash withdrawal fee i 2.75%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.75%
Is there a limit on free cash withdrawals? i

Overdrafts

Co-operative Bank

Current Account with Everyday Rewards

3 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 35.90%

Co-operative Bank

Current Account

3 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 35.90%

Co-operative Bank

Everyday Extra

3 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 35.90%

Premium bank accounts

Co-operative Bank

Everyday Extra

5 stars
Annual reward and cost scenario i £162.26
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

Student bank accounts

Co-operative Bank

Student Account

3 stars
Arranged overdraft limit i £2,000
Tiered repayment of overdraft i
Switching / sign up incentive i

Credit cards

0% balance transfer credit cards

Co-operative Bank

Balance Transfer Credit Card

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

Cashback and reward credit cards

Co-operative Bank

The Co-operative Members' Credit Card

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

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 8.90%
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 18.30%
Number of days before interest is charged on non-sterling cash transactions i 0 days
Risk based? i
Representative purchase rate i 1.40%

Low rate credit cards

Co-operative Bank

3 Year Fixed Rate Credit Card

3 stars
Representative APR i 8.90%
Highest APR i 18.30%
Representative purchase rate i 0.71%
Risk based? i
Representative balance transfer rate i 0.71%
Representative money transfer rate i