Co-operative Bank

Co-operative Bank

Based in Manchester, United Kingdom, the Co-operative Bank is a large retail and commercial bank. It is the seventh biggest lender in Britain and the majority of its revenue comes from interest made on these loans.

Reviews Rating
74%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
63%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
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Overview

First Glance

Based in Manchester, United Kingdom, the Co-operative Bank is a large retail and commercial bank. It is the seventh biggest lender in Britain and the majority of its revenue comes from interest made on these loans.

Features

Contact Info

Address
8be, Co-operative Bank Plc, 9 Prescot St, Whitechapel, London E1 8AZ, UK
Phone
0161 201 1964

About The Co-operative Bank

Based in Manchester, United Kingdom, the Co-operative Bank is a large retail and commercial bank. It is the seventh biggest lender in Britain and the majority of its revenue comes from interest made on these loans.

Cooperative Bank was merged with building society Britannia in 2009 and attempted the purchase of 600 Lloyds branches in 2012 (the bank eventually withdrew from the deal). In 2013, the bank was ‘rescued’ after recording a shortfall of almost £2billion – after the subsequent restructuring, the Cooperative Group no longer owns a stake in the company. The business agreement between the bank and Cooperative Group is due to end in 2020. As a result of these issues the bank lost some 25,000 current account customers in 2017 and reduced its number of branches from 95 to 68 in the spring of 2018.

Cooperative Bank markets itself as an ‘ethical’ bank, and this policy was written into its constitution in 2013. The policy means the bank avoids investing in companies and initiatives including the arms trade, genetic engineering, animal testing, sweatshop labour and fossil fuel extraction. In the financial year 2005-06, the bank turned away almost £10 million in business as a result of this policy.

The ethics policy is overseen by a values and ethics committee and overseen by an independent director.

Cooperative Bank Products and Services

Cooperative Bank has a number of current account options available to customers. The most basic of these is Cashminder, an account designed for those whose financial status might mean they don’t qualify for a standard current account. This account is available for new customers only unless an existing customer needs to switch due to financial difficulty. The account has no overdraft facility or chequebook.

Alongside Cashminder and their standard current account, Cooperative Bank also offers a paid (£15/month) current account named Everyday Extra, which includes travel insurance, roadside assistance and mobile phone insurance.

The bank partners for insurance services with Legal and General, offering life insurance, home insurance and critical illness cover.

Cooperative Bank also allows customers to take out pre-paid funeral plans and has done so for more than 80 years. The bank is the only UK provider of funeral plans to offer fully guaranteed plans for both cremation and burial.

Cooperative Bank Security

Cooperative Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority.

Cooperative Bank Contact Details

9 Prescot Street
London
E1 8BE

Telephone: 0161 201 1964

Email: [email protected]

The Co-Operative Bank

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Have a question about Co-operative Bank?

Find answers in Q&As and ask your question

can I transfer my tesco current account? — thomas blashill

can I transfer my tesco current account?
Bank Answer

Hi Thomas, if you're looking to switch from Tesco to Co-op Bank, this is definitely something you could do. They will be able to do this under the switch guarantee system within 7 days for you. Just get in touch directly with Co-operative Bank. Here is a link to their switch page: https://www.co-operativebank.co.uk/currentaccounts/switch-to-us Thanks, CB Team

Co-operative Bank Reviews

Philip Kay
April 9, 2022

“Sat writing this review on hold for 50 minutes. I'm locked out of my online account and my card is blocked”

Sat writing this review on hold for 50 minutes. I'm locked out of my online account and my card is blocked. Disgusting wait times and terrible service. I'm off to another bank!

Robert Fox
April 6, 2022

“All I want to do is order a cheque book, more than 1 hour on hold then cut off”

All I want to do is order a cheque book, more than 1 hour on hold then cut off.
Plus they charge for the phone call.
Still need a cheque book.

Ali Brahimi
March 10, 2022

“I have called the customer care team yesterday to help resolve an issue and, the lady who answered me was just brilliant and proffesionel and did an excellent work to help me”

I have called the customer care team yesterday to help resolve an issue and, the lady who answered me was just brilliant and proffesionel and did an excellent work to help me. I felt its a duty for me to write this feedback review first to highlight this, and second to say an AWESOME THANK YOU to Kurtis from the customer support. Ali Brahimi.

One person found this helpful

Co-operative Bank Accounts

Online Cash ISA
Online Cash ISA
Savings
Monthly Fee
0.09%
Interest Rate
No
Overdraft
Overdraft Rate
Cash ISA
Cash ISA
Savings
Monthly Fee
0.03%
Interest Rate
No
Overdraft
Overdraft Rate
Future Fund
Future Fund
Savings
Monthly Fee
100.03%
Interest Rate
No
Overdraft
Overdraft Rate
Cashminder
Cashminder
Personal
Monthly Fee
Interest Rate
No
Overdraft
Overdraft Rate
Current Account
Current Account
Personal
Monthly Fee
Interest Rate
Yes
Overdraft
35.9% annual interest rate
Overdraft Rate
Everyday Extra
Everyday Extra
Personal
£15
Monthly Fee
Interest Rate
Yes
Overdraft
35.9% annual interest rate
Overdraft Rate
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