Community Directplus Current Account
During these unprecedented times, we’re currently experiencing extremely high demand for business current accounts resulting in significant delays of more than 12 weeks for processing and opening accounts. If you’re an existing personal customer we’ll process your application as a priority. Please bear with us. We apologise for the delay.
We’ve made the very difficult decision not to offer Bounce Back Loans to new customers who haven’t already got a business or personal current account open with us as of 6 July 2020. This is so we can prioritise the needs of our most vulnerable and existing business customers during this challenging time. Thank you for your understanding.
Our Community Directplus Current Account gives registered charities, community interest companies, co-operatives and credit unions an ethical way to bank for free. We are proud to have been awarded the Business Moneyfacts award for the best charity banking provider for the past four years.
With our Community Directplus Account, you can take advantage of:
- Free everyday banking
- The opportunity to apply for project funding from our Customer Donation Fund
- Banking with the only UK bank with a customer-led Ethical Policy.
The Co-operative Bank reserves the right to review the account tariff for customers whose credit turnover exceeds £1m per annum, who deposit more than £100,000 cash per annum, or who deposit more than 5,000 cheques per annum.
With a Community Directplus account you can benefit from:
Business savings account
Online banking
Merchant services
Apply for a Community Directplus account
- Ensure you have read the important documents below and saved copies of them for future reference
- When applying please document all account parties consent to include their information and for relevant searches to be undertaken (including credit reference and fraud prevention checks). We may request this at a later date.
Participating providers of UK business bank accounts have agreed to a basic set of information that they will need from you to set up your UK business current account. Find out what you’ll need to provide using the simple business banking checklist from UK Finance, the UK’s leading trade association for financial services.
Switching to a Community Directplus account
To apply, you and the key parties need to be:
- Aged 18 or over
- Free from County Court Judgements (CCJs), bankruptcy and IVAs over the last 6 years
- Free from missed payments on any personal credit obligations in the last 6 months
- A UK resident with a business address in the UK.
Your organisation must be either:
- A registered charity, a co–operative or community benefit society registered with the FCA, a credit union or a community interest company; and
- Your account must not exceed any one of the following annual account limits: credit turnover exceeds £1million, deposit more than £100,000 in cash or deposit more than 5,000 cheques.
- If your organisation is a limited company you must adhere to the following criteria: the directors have never been disqualified, the business has never been subject to insolvency or an intention to dissolve, the business has not had a negative net worth in the last set of financial accounts.
Ready to apply?
Your application is subject to status and based on an assessment of your financial circumstances.
Please ensure you read the important documents below and save copies of them for future reference
Apply nowImportant documents
To view information on charging periods and pre-notification dates please visit our account charging page.
Business account terms and conditions
Download Business account terms and conditions PDFCommunity Directplus Tariff
Download Community Directplus Tariff PDFStandards of Lending Practice
Download Standards of Lending Practice PDFHow we use your personal information
Download How we use your personal information PDFFSCS Information Sheet and Exclusions List
Download FSCS Information Sheet and Exclusions List PDFCurrent Account Switch Agreement
Download Current Account Switch Agreement PDFNot the account for you?
We have other current accounts to choose from.
See our other current accounts
The Co-operative Bank reserves the right to decline any application.
Whether we can offer you credit depends on your circumstances and our lending policy. We may decline your application based on your circumstances or our lending policy. We may be able to offer a product that's different to the one advertised.
smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).
Financial Services Compensation Scheme
Your eligible deposits with The Co‑operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co‑operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please click here for further information or visit www.fscs.org.uk
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