Our 5 star, no-monthly-fee current account.
This is a scheme you can opt into at no extra cost, which rewards you for Everyday Banking each month.
Be rewarded up to £5.50 a month
- £4 for each month if you qualify
- Up to a maximum of £1.50 extra for debit card spending each month you qualify. If you meet the criteria below, you’ll be rewarded an extra 5p every time you use your debit card to pay for things.
- No extra cost for opting in to Everyday Rewards
To qualify you need to do the following in a calendar month
How to opt in to Everyday Rewards
When you apply for your current account you will be able to opt into Everyday Rewards, during the application process.Learn more about Everyday Rewards
You have the option to request an arranged overdraft when applying for a current account. You can also apply once your account has been opened, by visiting us in branch or by telephone.
To apply you need to be:
- 18 or over.
- A UK resident.
- If you wish to switch an account to us and an overdraft forms part of your decision to do so, please wait for confirmation of your overdraft before making an application to switch.
Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.
Debit interest rate
The interest rate you'll have to pay on any overdrawn balance:
18.9% EAR variable
Assumed credit limit
With debit interest at
18.9% EAR variable
Based on the representative example above, if you didn't pay it back for
you would owe a total of
How we limit overdraft chargesMore about how we limit charges
Unarranged overdraft service charges
There are standard charges for an unarranged overdraft (when you go over your agreed overdraft limit).
Monthly service charge
When you go over your agreed overdraft limit (by more than £20) you’ll be charged:
£10 each month
Daily service charge
Each day your unarranged overdraft increases, you'll be charged:
£10 each day there is an increase
How we limit these charges
There are other charges, including:
- Foreign transaction services, such as using your debit card abroad.
- Electronic payments, such as CHAPS.
- Other services, such as copies of your statement.
You will be charged for using an unarranged overdraft and for going over your agreed overdraft limit.More about the charges
However, we will limit your charges in 3 ways:
- Each current account will set a monthly maximum charge for: (a) going overdrawn when you have not arranged an overdraft; or (b) going over/past your arranged overdraft limit (if you have one).
- This cap covers any: (a) interest and fees for going over/past your arranged overdraft limit; (b) fees for each payment your bank allows despite lack of funds; and (c) fees for each payment your bank refuses due to lack of funds.
This is a standard definition to allow you to compare unarranged overdraft charges across different providers, but in practice we don't actually charge fees for refusing payments.
The monthly cap refers to the charges applied in a charging period not a calendar month. Please refer to the Account Charges Leaflet for details of the charging periods.
We will not charge you more than £60 for any type of overdraft charge (including debit interest) in one charging period. This means that whatever type of overdraft you use (arranged or unarranged or both), the maximum you will pay per charging period will be £60.
Our lending commitments and what we ask of youDownload Our lending commitments and what we ask of you PDF (112KB)
Help for existing customers
Help and information about current accounts for our existing customers.
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).