Business instant access account

Business Select Instant Access

Our Business Select Instant Access Account is a business savings account with easy, same-day access that gives you the reassurance that funds are still available when you need them.

With this account you may deposit a lump sum or make regular deposits via your current account. You can make immediate withdrawals through online banking, or over the phone with no penalty charge.

For a savings account with a higher interest rate see one of our business notice accounts instead.

  • Earn interest at a variable rate of 0.03% *gross **AER, paid twice a year

  • Open an account with as little as £1

  • Manage your account online and by telephone.

Summary box for Business Select Instant Access

The information provided below is a summary of the key features of our Business Select Instant Access Account and is not to be a substitute for reading its terms and conditions.

Account Name

Business Select Instant Access

What is the interest rate?


*gross / **AER variable

Interest is calculated daily and will be paid into your account on 5 April and 5 October. Where these dates fall on a non-Business Day^^, interest will be paid on the preceding Business Day^^.

Can The Co-operative Bank change the interest rate?

Yes- the interest rate is variable, which means it can go up or down.

When we increase our interest rates- the new interest rate will apply immediately and we will tell you about the change within 30 days of applying it by displaying information on our website or by branch notices, national press advertisements, statement messages or inserts, or by writing to you (this can include email), or by any combination of these methods.

When we decrease our interest rates- we will tell you by personal notice at least two months before we make the change. Personal notice means by post or email.

For full details of the circumstances in which we may change interest rates, please refer to our Terms & Conditions.

What would the estimated balance be after 12 months based upon a £1,000 deposit?

Initial deposit value Balance after 12 months Interest after 12 months
£1000.00 £1000.30 £0.30

We have worked this out assuming:

  • You haven't made any additional deposits or withdrawals during the 12 month period
  • We haven't made any changes to interest rates during the 12 month period.

Please note: this example is intended to illustrate the interest that would be earned after 12 months. The balance shown does not take account of the fact that interest is paid on 5 April and 5 October, rather than 12 months after opening.

How do I/we open and manage my account?

Can I/we apply for this account?

To be eligible for this account, you and any other signatories to the account must:

  • Hold a Co-operative Bank business current account
  • Be 18 years old or over
  • Have had no County Court Judgements (CCJs) in the last 6 years
  • Not have been declared bankrupt or entered into an IVA in the last 6 years
  • Not have missed any payments on personal credit obligations in the last 6 months
  • Have a business address in the UK
  • Reside in the UK.

If you are a Limited Company the following criteria also applies:

  • 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.

Your application is subject to status and based on an assessment of your financial circumstances.

If you are eligible to apply for one of our business savings accounts please read the important documents below and save copies of them for future reference.

How do I/we apply for this account?

You can apply for an account by completing an application form in one of the following ways:

  • Download the application form below, complete and post to us
  • You can take your application form to your nearest branch where we will be able to check that the form has been completed correctly before we send it on to our account opening team. (Please note: you will need to make an appointment at the branch)

Is there a minimum and maximum balance?

No minimum or maximum account balance restrictions apply.

How do I we/ make deposits into this account?

You can pay money in by:

  • Immediate funds transfer from another of your Co-operative Bank accounts using telephone or online banking.

How do I/we contact you to discuss this account?

You can contact us by telephone to discuss this account.

Can I/we withdraw money?

Yes- You can withdraw your money at any time as this account has no restrictions on withdrawals.

You can make withdrawals through the following ways:

Online banking- through electronic transfers to your linked Co-operative Bank business current account.

Telephone banking- through electronic transfers to your linked Co-operative Bank business current account.

Additional Information

We will pay interest without deducting tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs. If you are not sure whether you will have to pay tax, we recommend that you contact your local tax office or HM Revenue & Customs or visit

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.

The Co-operative Bank reserves the right to decline or accept any application and/or deposit.

*Gross- The gross rate of interest is the interest rate payable before any tax is deducted.

**AER- Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

^^Business Day- any day other than Saturday, Sunday or a bank holiday or public holiday in England and Wales.

Apply for a Business Select Instant Access account

Please fill in the relevant application form for your business entity.

These forms should not be used to make changes to the information that the Bank holds about your business or any key account parties. The signatories and signing authority for the new account will be the same as the existing arrangements for your Business Current Account.

Important documentation

Please make sure you read this important information before you apply for this product to ensure that it meets your needs. The useful documents below will provide you with all the details you need to make your decision.

How we use your personal information PDF

Business account Terms and Conditions PDF

Savings accounts rates and information sheet PDF

FSCS Information Sheet and Exclusions List PDF

FSCS logo

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of 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

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