Servicing your business account
Withdrawing cash
Cash machines (ATM's)
You can use your business debit or cash card at any LINK ATM cash machine to withdraw up to £500 per day (in two lots of £250), provided sufficient funds are in your account. Co-operative Bank and most LINK machines are free of charge. However, some LINK ATM's in shops, nightclubs, amusement arcades etc. and some bank's do charge an additional fee for the service. You will be advised of this charge before you make your transaction.
If you use an ATM that is not a LINK machine, or if you use your business credit card in the UK to obtain cash from any ATM, LINK included, then you will be charged a 2% handling charge on the amount withdrawn, minimum £2.
Cashback facilities
Some shops/supermarkets now allow you to get cash at the same time as paying for your goods. If the shop does offer this facility they usually ask you if you want cashback before you sign for the payment.
Branches
You can use your business account cheque book to pay bills and suppliers, and to cash cheques at any Co-operative Bank branch, subject to sufficient funds.
Post Office encashment facility
This service allows business current account customers to make cash withdrawals from a nominated local Post Office. To set up your encashment facility, simply call 08457 213 213 to nominate your Post Office. An adviser will then make the arrangements. A nominal charge may be levied to your account for each Post Office transaction, please refer to your tariff.
Bill payments
To start using this service call your Customer Service Centre to request a bill payment mandate. Complete the details, sign it, and return to us. Then each time a payment is required call us with the name of the beneficiary and amount and we will pay the bill directly from your business account.
Standing orders/Direct Debits
Any regular payments you make can be set up on either standing order for fixed amounts, or Direct Debits if the amounts vary. Low transaction charges make this one of the most cost-effective ways of dealing with your regular outgoings.
