Benefits

With our Privilege Premier current account, you’ll enjoy all the fantastic money-saving benefits you get with our Privilege current account – you’ll also get a host of extra benefits that could save you even more money.

• RAC UK and European breakdown cover

  Your full UK and European breakdown cover includes:

  • Roadside assistance to repair your vehicle
  • Recovery for up to 8 people and your vehicle to any destination within the UK
  • Breakdown assistance at your home
  • Replacement car for up to one day whilst your vehicle is being fixed or overnight accommodation or alternative form of transport.

  UK and European motor breakdown cover is provided on behalf of The Co-operative Bank by RAC.

  RAC has 114 years of motoring experience - more than any other breakdown oraganisation - founded in 1897.

  • RAC has more patrols per member than any other breakdown provider
  • RAC patrols fix 4 out of 5 cars at the roadside.
• Worldwide family travel insurance

  You and your family can have complete, peace-of-mind protection wherever and whenever you travel. Your worldwide travel insurance is active immediately and you can use it for as long as you have a Privilege current account. Unlike some policies, our insurance cover also includes personal belongings, scuba diving, golf and winter sports*. So whether you’re staying in the UK or planning to go further afield, you can be sure that we’ve got everything covered**.

  Worldwide family travel insurance provided by AXA Travel Insurance.

  * Maximum age for winter sport cover is 65 years.

  ** Policy and supplier terms and exclusions apply.

• Mobile Phone insurance

  Apart from the inconvenience, theft or loss of your mobile phone can prove expensive. That’s why it’s good to know that you won’t lose out should your phone get stolen, lost or damaged.

  • Insures up to 4 handsets to the value of £1,000 including VAT per phone so your family in your household can also benefit.
  • Covers the cost of repair or replacement in the event of theft, loss, accidental damage, water and liquid damage, malicious damage and electrical or mechanical breakdown.
  • Includes mobile phone accessories up to £350 including VAT, per claim for all your little extras that cam with the phone.
  • You are insured against unauthorised calls up to £2,000 including VAT, for monthly contract phones, and up to £200, including VAT, for pay-as-you-go phones per claim.
  • Worldwide cover so you don’t have to worry about losing the phone while abroad. Repair or replacement will be arranged upon return to the UK.
  • A policy excess of only £25 per claim, (£50 for iPhones)
  • This fantastic policy also covers personal digital assistant (PDA) handsets.

  Mobile phone insurance provided by Lifestyle Services Group and insured by London General Insurance Company.

• An automatic £300 interest-free and fee-free overdraft

  With a Privilege Premier account, you can take advantage of a higher interest and fee-free overdraft. In addition, preferential rates are available if you need a higher limit and wish to apply for a formal overdraft. Please refer to the enclosed Account Charges leaflet for details.

  Find out more about overdraft Account Charges (PDF - 0.1Mb).

• Exclusive mortgage deals.

  Exclusive mortgage deals for existing current account customers.

  Find out more.

• Privilege Premier savings account for the life of your Privilege Premier current account

  Earn a higher rate of interest with your Privilege Premier Savings account.

  Your Privilege Premier current account is linked to a Privilege Premier savings account, which we open automatically. You can transfer funds easily and you’ll earn even more on the money you save.

  On balances up to £100,000 it pays a rate of interest guaranteed to track 0.1%† below the Bank Of England Base Rate for the life of your Privilege Premier current account.

  Having a Privilege Premier Savings account means that you won’t have to spend time looking for a great place to put your money. All you have to do is sit back and relax knowing it’s earning you a good rate for as long as you keep your Privilege Premier current account.

  Find out our current Privilege Premier Savings rates

• FREE legal advice with the Co-operative Legal Services helpline

  The Co-operative Legal Services can offer you personal legal advice on any of the following areas: Consumer Rights, Family Law, Will Writing, Probate, Employment Law, Property, Personal Injury, Criminal Law, Debt, Tenancy Agreements and Civil Litigation. If you need our help you can call our dedicated helpline on 0845 603 7035, 24 hours a day, 7 days a week.

• 20% off your home insurance provided by The Co-operative Insurance.

  With 20% off your first year’s premium we’ve made it easy and affordable for you to ensure your home is well protected. This discount is only available when you call 08457 46 46 46 and quote BNKAC.

  • Up to £500,000 rebuilding costs cover as standard (higher limits available on request).
  • No Claim Discount of up to 40% for buildings and contents plus the option to protect once the full entitlement has been earned.
  • Pay monthly by Direct Debit or annually by debit/credit card.
  • Free Legal Expenses Insurance, up to £50,000.
  • Free HomeRescue Emergency Helpline.
  • You could earn 250 Co-operative membership points with a home insurance policy provided by The Co-operative Insurance. Find out more

  For other benefits available to Privilege Premier current account customers, please contact us on 08457 212 212.

Additional benefits

We know every customer is different, which is why with our Privilege Premier current account, you can choose any one of the three additional benefits packages provided by Lifestyle Services Group Limited and insured by London General Insurance Company Limited at no extra charge – giving you the flexibility to shape your account to suit you.

Safeguard - Enjoy added personal security with our credit report monitoring source and identity theft assistance*.

Traveller - Four free airport lounge passes per year – take the stress out of traveling by taking it easy**.

Gadget - Cover for your portable devices. You must register all devices you wish to be covered by this policy.

Once your account is open, you can select your additional benefits (at no extra cost) by visiting
co-operativebank.co.uk/benefits

Privilege Premier savings rates

Your Privilege Premier current account is linked to a Privilege Premier Savings account, which we open automatically, so there’s no need for you to do anything. It allows you to transfer money easily and earn interest while you save.

Rates correct as at 11th March 2009

Only available to Privilege Premier current account customers.

Interest rates guaranteed to track 0.1%† below the Bank of England Base Rate for balances below £100,000

Interest rates guaranteed to track the Bank of England Base Rate for balances over £100,000

Current Bank of England Base Rate 0.5% (as at 03/09).

† The credit interest rates on your Privilege Premier Savings account was designed to track the Bank of England base rate. However, following the reductions which have taken the base rate to its lowest ever level, we have not reduced the rates on this savings account by the full percentages at this time.

*Gross means the contracted rate of interest payable before the deduction of income tax at the rate specified by law, it remains the customer’s responsibility to declare interest earned to their relevant tax authority.

**AER = Annual Equivalent Rate - a notional rate calculated as if the contractual gross rate were paid and compounded on an annual basis.

***Net = The rate of interest payable after deduction of income tax at the rate specified by law.

Interest rates may vary and are payable annually. Withdrawals by cheque from your Privilege Savings Account will be subject to a £5 charge (per cheque).

Our guarantees

Statements

We promise not to make any financial errors on your statements.

Cheque books and cards

We promise we will automatically issue your cheque book and cards to make sure you always have them available.

Standing orders and Direct debits

We promise to set up and pay your standing orders and direct debits as instructed and without any mistakes.

Personal Loans

Any request from our current account customers for an overdraft or personal loan will be considered and, if approved, made available within one hour (providing we are in receipt of your signed agreement form).