We offer the Current Account Switch Service which makes switching your bank account to us simple, reliable and hassle-free. The new service allows you to transfer your regular payments from another bank, on a switch date that suits you. It is backed by the Current Account Switch Guarantee.
If anything goes wrong we will refund any charges made on either your new or old account.
Simply apply for a Co-operative Bank current account. Once it's open, you're ready to switch. We'll transfer your credit balance and all your regular payments to it. We'll even close your old account too. It's switching made easy.
1Call or visit us to switch
2Choose your switch date
3Leave the rest to us
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and hassle-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee:
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You will be able to access the funds in your old account up to and until your switch date, when they will be transferred to your new account.
No, providing you repay any outstanding overdraft(s) on your previous account(s) as required by your old bank or building society. If there are any problems with payments (as part of the switching process) we will correct them and ensure your credit rating is not affected.
The Current Account Switch Service should not interfere with this process and any debit card transactions that you have asked your bank to stop should remain so after your switch.
If you have arranged to make recurring payments using your old account debit card number, your old bank won’t know your Co-operative/smile account debit card number so won’t be able to transfer these. This means that there is no guarantee that payment requests sent to your old account will be redirected. The supplier may contact you to request the details of your Co-operative/smile debit card. We recommend that you contact the supplier to set up a new recurring payment to ensure any service you receive is not interrupted.
The Current Account Switch Service transfers all your payments and closes your old account; any payments due to debit your old account will be redirected to your account with us (if sufficient funds are available), with the exception of continuous card payments/recurring transactions as detailed above.
You may be able to transfer your payments to us without redirecting payments from your old account, please contact us on 08448 44 88 44 to discuss this.
Sometimes we may be unable to set up some of the individual payments passed to us by the old bank. For example, we may not support a particular standing order frequency, or a Direct Debit may have invalid information. In these cases, we’ll always let you know the situation, and ask you to contact us and tell us how you’d like to proceed.
If you make any amendments to regular payments or set up any new payments on your old account while the switch is in progress, please contact customer services on 08448 44 88 44 as soon as possible to ensure these are reflected on your new account.
The Current Account Switch Service is backed by the Current Account Switch Guarantee. This guarantees that any charges or interest incurred on your old or new account, as a result of a failure in the switching process, will be refunded when you bring this to our attention.
You can change your switch date any time before your switch starts and you can cancel your switch up to seven working days before your switch date. After these timescales only certain elements can be cancelled.
Please contact customer services on 08448 44 88 44 if you wish to discuss further.
The Current Account Switch Service is for current accounts only. If you would like to switch other account types, such as a savings account, please contact customer services on 08448 44 88 44 or visit your local branch to discuss.
Before you begin the switching process, please read the following important documents.
The Co-operative Bank reserves the right to decline any application.
Credit facilities are subject to status and our lending policy.
* EAR - (Equivalent Annual Rate) The equivalent to paying and compounding debit interest over a whole year.