Taking the pressure off: The Co-operative Bank launches new business account offer to help businesses manage rising costs

New business current account offer could help business owners save up to £250 of value over time*, with refunded service fees, exclusive savings rates and a £125 bonus.

The Co-operative Bank has today announced a new incentive offering six months of service fee-free access to new Business Banking Account Plus customers.

The offer launches at a time when many businesses contend with higher running expenses, from higher energy bills and wage costs to rising insurance premiums and borrowing costs. It is designed to help businesses keep more of their money working for them during the first year of banking with The Co-operative Bank.

The Business Bank Account Plus ordinarily costs £10 per month. Under the offer, this monthly fee will be refunded for the first six months, giving businesses free access to a range of practical benefits including:

- Exclusive savings rate: Access to a Business Plus Instant Savings Account with an exclusive higher interest rate

- Insurance bonus: Up to £70 Love2Shop voucher when purchasing an eligible business insurance policy through the Bank’s insurance partner

- Overdraft benefits: No arrangement fee for overdrafts up to £25,000.

Businesses that meet eligibility criteria will also receive £125 paid into their account after 12 months of active use.

Lisa Galley, Head of Business Banking Products at The Co-operative Bank, said:

“Running a business remains challenging, with many owners carefully watching every outgoing as costs stay stubbornly high. While opening a new bank account won’t solve everything, it can be one of those small decisions that makes day to day cashflow a little easier."

“By offering six months of fee free banking, an exclusive savings rate and a cash bonus for customers who stay with us, we’re aiming to give businesses practical support where it matters most - helping them hold onto more of their money as they manage rising costs.”