The Co-operative Bank scraps foreign card fees and cuts packaged account to £12

• The Co-operative Bank removes its 2.75% foreign transaction fee on debit card spending abroad across all current accounts
• Everyday Extra monthly fee reduced to £12 – now one of the best-value packaged account on the market
• Comprehensive package worth over £640*, including UK & European breakdown cover and family cover for travel and mobile phones

The Co-operative Bank is giving customers a summer boost by removing foreign transaction fees on debit card spending overseas, while also offering a £12-a-month packaged account designed to help families get more value from their everyday banking.

The Bank has scrapped its 2.75% fee on overseas spending across all its current accounts, meaning customers can now spend abroad without extra charges, just in time for the summer holidays.

Alongside this, the Everyday Extra packaged account has been refreshed to deliver one of the best-value bundled banking deals on the market. Now priced at £12 per month, reduced from £18, the account is designed with holidays and family life in mind.

It includes a comprehensive package worth over £640, covering worldwide family travel insurance including winter sports, UK and European breakdown cover - even when travelling as a passenger in someone else’s car - and mobile phone insurance that now covers everyone in the household, giving families greater value and peace of mind.

Kat Robinson, Head of Family and Everyday Banking at The Co-operative Bank, said:

“Summer can be one of the most expensive times of year for families, whether it’s keeping everyone entertained at home or holidays abroad, and those costs can quickly add up.”

“That’s why we’re removing foreign transaction fees, making it simpler and more affordable for our customers to spend overseas - whether that’s on family holidays, city breaks or everyday purchases while away - helping them keep more of their money while they enjoy their time abroad.”

“Alongside this, we’ve made our Everyday Extra one of the best-value packaged accounts on the market, offering added peace of mind with travel insurance, breakdown cover and extended mobile phone protection for the whole family.”

Rachel Springall, Finance Expert at Moneyfacts, said:

“Cost of living pressures can make it difficult for consumers to prioritise where to spend their hard-earned cash, so it’s essential to have both fee-free and reasonably priced current account options to choose from. With this in mind, it’s great to see the Everyday Extra Account becoming a more affordable choice as its account fee has been slashed to £12 per month.”

“A raft of packaged account benefits can be a great cost-saver for holidaymakers in the UK or worldwide, plus the peace of mind that cover provides. The Co-operative Bank has also made both the Current Account and Everyday Extra more appealing by removing foreign transaction fees on debit card spending overseas, so no nasty surprises to return home to after spending money abroad.”