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Co-op Bank Offer Summary
This offer expired on 31 March 2026.
Is Co-op Bank Right for You?
Key Features
- Standard Account: No monthly fee
- Everyday Extra: Mobile phone insurance, worldwide travel insurance, UK/European breakdown cover (£18/month)
- 7% variable interest regular saver (max £250/month)
- Access to instant access savings accounts
- Mobile and online banking included
- Ethical Policy - customers have a say in how money is used
Things to Consider
- Must not have had Co-op switch bonus since 1 November 2022
- Need 10 card transactions (more than most banks)
- Additional £75 requires active use for 3 months
- Everyday Extra has £18/month fee (but includes insurance)
- Must complete switch within 8 weeks of requesting it
- Some banks reject switches if you have linked products
Eligibility Requirements
- Request full switch using CASS within 2 weeks of opening account
- Complete switch within 8 weeks of switch request
- Deposit £1,000+ within 30 days after switch completes
- Have 2+ active Direct Debits after switch
- Make 10+ debit card payments within 30 days
- Register for online or mobile banking
Always verify the current requirements on Co-op Bank's website before applying, as terms may change.
How the Switch Works
Co-op Bank uses the Current Account Switch Service (CASS), which guarantees your switch completes within 7 working days. All Direct Debits and standing orders move automatically, and payments to your old account are redirected for 3 years.
Day 1 — Apply & Request Switch
Complete your application and request the account switch via CASS.
Day 7 — Switch Completes
Direct Debits and standing orders are moved automatically. Payments to your old account are redirected.
First Month — Meet Requirements
Ensure all eligibility criteria are met, including any deposit or transaction requirements.
~Day 7 — Bonus Paid
If all criteria have been met, the switching incentive is typically processed.
Tips & Things to Watch For
Helpful Tips
- Get £100 upfront within 7 days of meeting criteria
- Earn extra £25/month for 3 months by staying active (£1,000+ deposits, 10+ card payments, 2+ Direct Debits each month)
- Total possible: £175 (£100 + £25 + £25 + £25)
- Can miss a month and still qualify for remaining months
- Regular saver pays 7% on up to £250/month (£114 max interest/year)
- Everyday Extra first 3 months free (£54 saved) if you choose that account
Common Issues
- Not completing switch within 8 weeks of requesting it
- Forgetting the 10 card payment requirement (higher than other banks)
- Not maintaining 2 Direct Debits throughout the 3-month period
- Depositing £1,000 before switch completes (must be after)
- Closing account before all £25 payments received
Need Direct Debits? If you don't have 2 active Direct Debits for the switch, you can support Scrimpr via Direct Debit (50p or £1/month) — it counts towards the requirement and helps keep this site free.
Offer History
How Co-op Bank's switch offer has changed over time.
| Offer | Period |
|---|---|
| £175 | Jan 2026 - Mar 2026 |
| £125 | Sep 2025 - Oct 2025 |
| £125 | Feb 2023 |
| £125 | Nov 2022 - Dec 2022 |
| £50 | Jun 2021 - Nov 2022 |
Frequently Asked Questions
The switching incentive is only available to customers who meet all eligibility criteria. Not all applicants will qualify, and Co-op Bank reserves the right to decline applications or withhold bonuses if requirements are not met.
When using the Current Account Switch Service (CASS), your previous account is typically closed automatically as part of the switching process. All payments are redirected to your new account for a minimum period of 3 years.
The Current Account Switch Service (CASS) guarantees completion within 7 working days. This includes moving your Direct Debits and standing orders.
Most switching offers have eligibility restrictions for previous customers. Check the specific terms and conditions on Co-op Bank's website, as you may be excluded if you've held an account with them recently.
Opening a bank account typically involves a credit check. While a single application usually has minimal impact, multiple applications in a short period may affect your credit profile. If you're planning to apply for credit soon, consider the timing carefully.
This page is for guidance only and does not constitute financial advice. Offers are subject to availability and may be withdrawn at any time. Always verify current terms directly with Co-op Bank.