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Co-operatives Directplus

Free banking for co-operatives

Our Co‑operatives Directplus account is available exclusively to co‑operatives with a turnover of up to £1 million, who deposit up to £100,000 in cash and up to 5,000 cheques per annum.

Co‑operatives Directplus gives your organisation an ethical way to bank for free, so you won’t have to pay any charges, as long as you operate within the agreed limits. Charges apply for exceeding these limits and for any special services such as, CHAPS payments, stopped cheques etc. Please refer to the tariff for full details.

If your organisation has a turnover of up to £1million, you can benefit from:

  • free banking
  • the freedom to manage your account 24/7, however it suits you; online or at your local Post Office® by arrangement
  • a business debit card*, offering you a convenient way to pay for goods and services
  • interest on credit balances of £25,000 or more.
Ethical Policy in Action - supporting co-operatives & social enterprises

The Hive Image

The Hive is a new, business support programme to help the development and growth of the UK co-operative and social enterprise sector. Demonstrating its Ethical Policy commitment to support co-operatives, the Bank has committed £1.05million to this three year programme in partnership with Co-operatives UK, the UK trade association.
 
The Hive provides resources to help new co-ops and community businesses to start-up, existing co-ops to grow, non co-ops to convert, and communities to thrive. Find out more about The Hive

The Bank reserves the right to decline any application and/or deposit

*Credit facilities are provided by The Co-operative Bank and are subject to application status. Security may be required.