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The Co-operative Bank launches new £150 'Switch and Save' offer

7 June 2024

3 min read

  • Available from today, the offer includes £75 payable up front for switching to a Co-operative Bank Standard Current Account or Everyday Extra account.
  • An additional £15 a month will be paid for five months to any customer that has switched and opens a Regular Saver account.
  • Customers must meet the additional terms and conditions of the offer to qualify for the switching bonus and monthly payments.

The Co-operative Bank has today announced the launch of a brand new £150 switch and save incentive.

The offer is available for a limited time only to new current account customers who make the switch. The bank will credit £75 to the eligible current account within 7 days of a customer meeting the eligibility criteria. A further £15 per month will be paid into the qualifying Regular Saver account within 7 days of the 10th of the month following the qualifying period.

To qualify for the initial switch incentive payment and subsequent monthly payments, customers must meet the eligibility criteria, and terms and conditions.

The switch offer is worth £150 in total and is split as follows:

  • £75 is payable up front for switching a current account from another bank and meeting the below eligibility criteria:
  • Customers must apply to open a new current account on or after the offer launch date (7 June)
  • Customers cannot have benefitted, or be waiting to benefit from, a switching incentive from us since 1 November 2022.
  • By the 30th day following the switch completing, customers must:
    • Have two active Direct Debits set up on the account (these can include any that are transferred as part of the switch)
    • Deposit a minimum of £1,000 into the account
    • Register for online banking or mobile banking
    • Make a minimum of ten card transactions (including via digital wallet).
  • £75 across five monthly payments, which will begin from the date in which the initial £75 switching bonus is paid, subject to meeting the below eligibility criteria:
  • Customers must:
    • Have successfully qualified for and received the £75 payment for the switch part of the incentive
    • Have opened a Regular Saver account by no later than midnight on the last day of the full calendar month, following the month in which the £75 switch incentive was received
    • Have deposited a minimum of £50 into the qualifying Regular Saver account in the qualifying month, and;
  • In the qualifying current account each month:
    • Deposit £1,000 or more
    • Make a minimum of ten card transactions (including via digital wallet)
    • Have two or more active Direct Debits.

More information regarding eligibility and further terms and conditions can be viewed at: https://www.co-operativebank.co.uk/products/bank-accounts/switch-and-save/

Commenting on the launch John Ward, Director of Product at The Co-operative Bank, said:

“We’re pleased to launch this new switch and regular save incentive today. As the only UK bank with a customer-led Ethical Policy, our customers can be assured that their money will never be used to fund organisations involved in harmful activity such as the extraction or production of fossil fuels or human rights abuses.”

Contact

The Co-operative Bank Press Office

Landline: 0151 271 1985

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