When you're running your own business, looking after your finances can sometimes seem like a full-time job in itself. That's why The Co-operative Bank provides a number of different ways for you to do your banking whenever it suits you.
As a business customer you have the ability to choose when and where you conduct your business banking - whether it is from your office at work, or in the comfort of your own home.
You can visit all our branches to:
You can also use the Post Office® network for some banking actions:
If you don’t have access to your online banking, you can call our service advisors.
Lines are open Monday - Friday 8.00am - 8.00 pm, 9.00am - 12noon Saturdays
You can access our voice automated service at all times, on the same number.
In the UK, cheque clearing timescales are different for paying in or issuing cheques.
Cheques paid into your account take six Business Days in total. Due to the introduction of cheque imaging on 30 October 2017, any cheques you have written which have been paid into a bank using cheque imaging, will debit your account after two Business Days instead of three, once the receiving bank has processed it.
The maximum timescales for your cheque to be processed are:
The day a cheque deposit will appear as a credit on your account.
You will start to earn interest on a cheque deposit, and if applicable will start to reduce the interest charged on your overdraft.
You can withdraw against the cheque deposit, but the cheque can still be returned unpaid and the deposit removed from your account.
The cheque can no longer be debited from your account without your permission.
For cheques paid in at the Post Office®
The UK banking industry is in the process of introducing cheque imaging. This takes digital images of all cheques we process and significantly speeds up the clearing process, reducing it from six Business Days to just two.
On 30 October 2017, the first phase was launched. This means that any cheques you’ve written, which have been paid into a bank using cheque imaging, will now debit your account after two Business Days, not three.
From September 2018, we will begin to roll out the second phase, meaning cheques you pay in to us will start to be processed using cheque imaging.Find out more about cheque imaging
If you would like to close your Co-operative Bank Business account the following form will need to be completed.
Once completed, return to the address on the form.
Payment transaction history
From 2 February 2018, as part of the Competition and Markets Authority Retail Order, we are required to provide you with up to five years’ worth of your payment transaction history, following the closure of your account. This information will show all of your payment related transactions that have been made through your account up to a period of five years.
We won’t provide this for any period where there has been no payment related transactions i.e. your account has only attracted charges, if your annual turnover is greater than £6.5m or if the account was closed due to:
We will write to you and ask you to complete and sign a form in accordance with your Bank mandate.
Once we have received and successfully verified your signed document, we will send the payment transaction history to you within 10 working days. This will generally be sent to the address we held on file for you at the point your account was closed, unless requested otherwise by you or we require further information.
If you do not require this information you can tick the appropriate box on the form and return this to us.
Please note: The number of years’ worth of payment transaction information we will provide to you will depend on the time between your account being closed and you submitting your request. For example, if you closed your account 2 years ago you will be provided 3 years’ worth of payment transaction history. If your account has been open for less than five years, your transaction history will only cover this period.
If you changed your current account product and retained the same account details, your payment transaction history will cover all transactions made during that period.
Can I request a copy of payment transaction history after my account has closed?
If your account was closed after 2 February 2018, you can request a copy of your payment transaction history any time up to five years after your account has closed. In certain circumstances there may be a charge for this request.
Requests for payment transaction history after your account has closed will be sent to you within 7 working days following us being able to complete our reasonable identification requirements.
To request this, please write to us, signed in accordance with your Bank mandate at the following address.
Business Account Closure Team
The Co-operative Bank p.l.c.
P.O. Box 250
If you require information prior to the 5 year limit, this would need to be requested via a formal Subject Access Request. To request this, please write to us at the address detailed above.