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The Co-operative Bank

Monday 24th July 2017

EVERYDAY EXTRA ACCOUNT PACKAGES UP YOUR SUMMER INSURANCE NEEDS

  • The Co-operative Bank’s Everyday Extra five star rated packaged account includes; Worldwide Family Travel Insurance, UK and European Breakdown Cover and Mobile Phone Insurance
  • No excesses to pay when customers make a claim
  • Customers can also opt in to Everyday Rewards and earn up to £5.50 each month.

The summer season is often full of travel plans, with families especially looking to holiday during the long school break. Travel insurance for trips either in the UK or abroad provides vital protection against many eventualities and if the journey is by car, having European and UK breakdown cover gives some added peace of mind.

The Co-operative Bank’s simple and transparent packaged current account ‘Everyday Extra’; is a Moneyfacts five star rated account with the benefits of Worldwide Family Travel Insurance, UK and European Breakdown Cover, and Mobile Phone Insurance.1

For a fixed monthly fee of £15, customers can benefit from high quality insurance policies from market leading providers. A major benefit of the account is that there are no excesses to pay when making a claim, which can typically save customers up to £100 if they have a smartphone which is lost or stolen. Customers can also benefit from the insurance cover immediately on account opening as there are no registration requirements.

For those requiring a joint account, it is even better value for money as both customers will be covered for the single £15 monthly fee. This will allow customers to travel or drive independently of each other and both of them will be able to have their own mobile phone covered.

Summary of Everyday Extra benefits:

Worldwide Travel Insurance: Provided by AXA: Full Policy Doc

Cover for all the family up to and including age 79;

Winter Sports included (up to and including age 64 for Winter Sports);

Cover for trips up to 45 continuous days (21 days for Winter Sports);

Children covered when travelling independently of the accountholder (i.e with grandparents or school);

No excesses are payable on claims.

UK & European Breakdown Cover: Provided by RAC: Full Policy Doc

Personal based cover for the account holder(s) rather than the vehicle;

Roadside assistance to repair the vehicle;

Recovery for the vehicle to any destination in the UK;

At Home breakdown assistance;

Replacement car whilst your vehicle is being fixed, overnight accommodation, or alternative form of transport.

Mobile Phone Insurance: Provided by Lifestyle Services Group: Full Policy Doc

Covers one phone per account holder up to the value of £1,000;

Covers theft, loss, damage and breakdown occurring anywhere in the world;

No excesses are payable on claims.

Full details of the insurance policies offered as part of our Everyday Extra account are available here: www.co-operativebank.co.uk/currentaccounts/everydayextra

Everyday Extra account holders can also opt into Everyday Rewards and could receive up to £5.50 per month into their account or to one of five nominated charity partners from their everyday banking arrangements. The bank partners with; Amnesty, Hospice UK, Oxfam, Refuge and Woodland Trust; and customers can opt to pay their Everyday Reward to one of these charities by logging on to their online banking and nominating one of them to receive the cash.2

As the only UK high street bank with a customer led ethical policy, which this year celebrates its 25th anniversary, The Co-operative Bank is committed to providing customers with ethical products and services. Everyday Extra was co-created with customers who were consulted during the development of the account to ensure we offer a simple and transparent proposition with better value for money compared with buying policies on a stand-alone basis. This account was developed with the feedback of our customers at the heart, they even helped us decide the name of the account.

For more information on The Co-operative Bank’s Ethical Policy and how our products are co-created with customers, visit:

www.co-operativebank.co.uk/aboutus/ourbusiness/ethicalpolicy

Matthew Carter, Director of Product and Communications at The Co-operative Bank, said: “We worked with our customers to create Everyday Extra and they told us they wanted a simple and transparent packaged account that includes high quality insurance cover from market leading providers that they could benefit from every day. Customers also told us the level of excesses they’ve paid when making a claim were too high and, they didn't want to pay additional fees to enhance cover. Everyday Extra offers comprehensive cover and we are confident it will deliver great value for our customers.”

Everyday Extra is available to existing eligible customers only. For full details of the Everyday Extra account visit:

www.co-operativebank.co.uk/currentaccounts/everydayextra

 -Ends-

Notes to editors:

1 www.co-operativebank.co.uk/currentaccounts/everydayextra

Everyday Extra Current Account was awarded a 5-star rating by Moneyfacts in its Packaged Current Account category

Source: Moneyfacts - Packaged Current Account 2017

2 Everyday Rewards

www.co-operativebank.co.uk/currentaccounts/everyday-rewards

Account holders can earn rewards of £4.00 a month by simply:

  • Paying in at least £800 into the account each month;
  • Staying in credit or within any agreed formal overdraft limit each month;
  • Remaining opted in for paperless statements;
  • Logging onto online banking or the mobile app at least once each month;
  • Having at least four direct debits paid from the account each month.

On top of this, customers can earn 5p every time they use their debit card up to a maximum of £1.50 a month, giving a total monthly reward of up to £5.50, or £66 annually.

Customers can opt to donate their monthly rewards to one of five nominated charitable partners: Amnesty International; Hospice UK; Oxfam; Refuge and The Woodland Trust.

About The Co-operative Bank

The Co-operative Bank p.l.c. provides a full range of banking products and services to almost 4 million retail and SME (Small and Medium Sized Enterprises) customers. The Bank is committed to values and ethics in line with the principles of the co-operative movement. The Co-operative Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Co-operative Bank p.l.c. customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.