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Privilege Account

Privilege Account

This account is no longer available to new customers or existing customers who wish to upgrade.

If you already have a Privilege account, you'll still have access to the benefits listed below. You'll also be able to choose an additional benefit once every year at no extra cost. Your subscription fee of £11 will continue to debit your account on the first working day of each month. If you cancel your Privilege subscription or close your account, you will no longer have access to these benefits and all insurance policies will be cancelled.

You can continue to manage your mobile phone insurance and additional benefits package by visiting this page. Alternatively, please call 0344 249 9981

Worldwide family travel insurance

This can be used for as long as you have a Privilege current account. It covers personal belongings, scuba diving, golf and winter sports.

Cover under your policy will cease when you reach 80 years of age or when your Privilege current account is closed or the policy is cancelled, whichever is the earlier. Cover for holidays involving winter sports activities is not operative if you are 65 years of age or older. Policy limitations and exclusions apply. Please refer to the Worldwide Travel Insurance – Policy Summary and Policy Documents for further information.

Worldwide family travel insurance is underwritten by Inter Partner Assistance (IPA) and serviced by AXA Travel Insurance. Both companies are part of the AXA Group.

Declaring pre-existing medical conditions before travelling

No claims arising directly or indirectly from any pre-existing medical condition(s) of anyone travelling under your policy will be covered unless they have been declared and the conditions have been accepted in writing prior to any trip; plus, any changes in health or prescribed medication have been declared and we have accepted the condition(s) for insurance in writing.

Failure to declare pre-existing medical conditions may invalidate your claim.

Customers need to complete a Medical Health Declaration by visiting the AXA Medical Assessment Page

By choosing to complete the AXA Medical Assessment:

•    You will be leaving our website and redirected to AXA who provide your Worldwide Travel Insurance
•    Rock Insurance provides the Medical Assessment on behalf of AXA

Visit the AXA Medical Assessment page

You can also contact the Medical Assessment Helpline on 0344 249 9981.

Mobile Phone Insurance

This policy covers up to four mobile phone(s) and SIM card(s) for each Co-operative Bank Privilege or Privilege Premier current account (which must be owned by the account holder (you) or their family members. A family member is a relative living at the same address.)

Replacing or repairing your mobile phone, up to a maximum value of £1,500 (including VAT) per claim, in the event of:

  • Loss
  • Theft
  • Damage
  • Breakdown (Including faults occurring anywhere in the world)

Unauthorised network charges from the point that your mobile phone was lost or stolen for up to 24 hours after discovery of the loss or theft, up to a maximum value of £2,000 (including VAT) per claim for monthly contract phones and £100 (including VAT) for Pay As You Go phones.

Mobile phone accessories that are lost, stolen or damaged at the same time as your mobile phone, up to a maximum value of £350 (including VAT) per claim.

You need to pay a contribution every time you make a successful claim of:

  • Apple Handsets - £75
  • Non-Apple Handsets - £50

This policy has been arranged as part of your bank account and is administered by Lifestyle Services Group Limited (Financial Services Register No. 315245) with a single insurer, Assurant General Insurance Limited (Financial Services Register No. 202735). Assurant General Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Lifestyle Services Group Limited is authorised and regulated by the Financial Conduct Authority. All firms’ register details can be checked on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by phoning 0800 111 6768.

An automatic £200 interest-free and fee-free overdraft

Your Privilege current account comes with an automatic £200 interest, fee-free overdraft. Preferential rates are also available if you need a higher limit and wish to apply for an arranged overdraft.

Privilege savings account for the life of your Privilege current account

Your Privilege current account links to a Privilege Savings account, opened automatically, so you don't need to do anything. You can transfer money easily and earn interest while you save. It pays a rate of interest which is guaranteed to track 0.3% below the Bank of England Base Rate for the life of your Privilege current account.

Additional benefits

We know every customer's different. Which is why, with our Privilege current account, you can choose any one of the three additional benefits packages provided by Lifestyle Services Group Limited and insured by Assurant General Insurance Limited at no extra charge, each year.

Change your additional benefits (at no extra cost) once every year - we'll write to you each year to let you know when. You can register your benefits by visiting this page.

Credit Report Monitoring

As well as having easy online access to your credit report, you can set up a monthly monitoring service which will alert you by text or email of any significant changes to your credit file. (Subject to terms and conditions)

Registration to activate this policy or service is required. You can do this online at www.co-operativebank.co.uk/benefits. Please note: registration for Credit Report Monitoring service is online registration only.

Airport Lounge Passes

You will receive 12 months’ DragonPass membership, which includes four free airport lounge visits per bank account to enjoy. Additional lounge visits and lounge visits for guests can be purchased at £15 per person, per visit.

DragonPass is the world’s largest airport lounge access programme with over 800 lounges worldwide. With business facilities, complimentary refreshments and space to relax away from the chaos of the departure hall, airport lounges are an oasis of calm.

Gadgets

Worldwide cover up to £1,200 for digital cameras, handheld DVD players, digital camcorders, MP3 players, portable Sat Nav devices, games consoles and laptops, etc.

Repair and replacement will be arranged upon return to the UK. Maximum individual item limit of £1,200.

Cover for theft, damage and breakdown (including faults) occurring anywhere in the world.

If any accessories for your gadget are stolen or damaged at the same time as your gadget, you are covered for these up to a value of £50 (including VAT). That’s a case, headphones and similar.

Subject to terms and conditions. Registration to activate the policy is required. You can do this online at www.co-operativebank.co.uk/benefits or by calling 0344 249 9981.

Privilege savings rates

Your Privilege current account links to a Privilege Savings account, opened automatically, so you don't need to do anything. Transfer money easily and earn interest while you save.

Privilege Savings Gross *% AER* %
£1+ 0.53 0.53
Effective from 30.11.2017

 

Only available to Privilege current account customers.

Interest rates guaranteed to track 0.3% below the Bank of England Base Rate.

* See our glossary.

Interest rates may vary and are payable annually. Withdrawals by cheque from your Privilege Savings Account will be subject to a £5 charge (per cheque).

Important documentation

Privilege Premier Account

Privilege Premier Account

This account is no longer available to new customers or existing customers who wish to upgrade.

If you already have a Privilege Premier account, you'll still have access to the benefits listed below. You'll also be able to choose an additional benefit once every year at no extra cost. Your subscription fee of £15.50 will continue to debit your account on the first working day of each month. If you cancel your Privilege Premier subscription or close your account, you will no longer have access to these benefits and all insurance policies will be cancelled.

You can continue to manage your mobile phone insurance and additional benefits package by visiting this page, alternatively please call 0344 249 9981.

RAC UK and European breakdown cover

When you’re on the road, it’s great to have the peace of mind and reassurance that comes from comprehensive motor breakdown cover. Your UK and European breakdown cover includes:

  • Personal-based breakdown cover for the named account holder(s) NOT the vehicle.
  • Roadside assistance to repair your vehicle.
  • Recovery for up to eight people and your vehicle to any destination within the UK.
  • Breakdown assistance at your home.
  • Replacement car for up to one day whilst your vehicle is being fixed or overnight accommodation or alternative form of transport.

RAC has been a breakdown organisation since 1897 and have more patrols per member than any other breakdown provider. RAC patrols also fix four out of five cars at the roadside.

UK and European motor breakdown cover is provided on behalf of The Co-operative Bank by RAC.

Worldwide family travel insurance

This can be used for as long as you have a Privilege Premier current account. It covers personal belongings, scuba diving, golf and winter sports.

Cover under your policy will cease when you reach 80 years of age or when your Privilege Premier current account is closed or the policy is cancelled, whichever is the earlier. Cover for holidays involving winter sports activities is not operative if you are 65 years of age or older. Policy limitations and exclusions apply. Please refer to the Worldwide Travel Insurance – Policy Summary and Policy Documents for further information.

Worldwide family travel insurance is underwritten by Inter Partner Assistance (IPA) and serviced by AXA Travel Insurance. Both companies are part of the AXA Group.

Declaring pre-existing medical conditions before travelling

No claims arising directly or indirectly from any pre-existing medical condition(s) of anyone travelling under your policy will be covered unless they have been declared and the conditions have been accepted in writing prior to any trip; plus, any changes in health or prescribed medication have been declared and we have accepted the condition(s) for insurance in writing.

Failure to declare pre-existing medical conditions may invalidate your claim.

Customers need to complete a Medical Health Declaration by visiting the AXA Medical Assessment Page

By choosing to complete the AXA Medical Assessment:

•    You will be leaving our website and redirected to AXA who provide your Worldwide Travel Insurance
•    Rock Insurance provides the Medical Assessment on behalf of AXA

Visit the AXA Medical Assessment page

You can also contact the Medical Assessment Helpline on 0344 249 9981.

Mobile Phone Insurance

This policy covers up to four mobile phone(s) and SIM card(s) for each Co-operative Bank Privilege or Privilege Premier current account (which must be owned by the account holder (you) or their family members. A family member is a relative living at the same address.)

Replacing or repairing your mobile phone, up to a maximum value of £1,500 (including VAT) per claim, in the event of:

  • Loss
  • Theft
  • Damage
  • Breakdown (Including faults occurring anywhere in the world)

Unauthorised network charges from the point that your mobile phone was lost or stolen for up to 24 hours after discovery of the loss or theft, up to a maximum value of £2,000 (including VAT) per claim for monthly contract phones and £100 (including VAT) for Pay As You Go phones.

Mobile phone accessories that are lost, stolen or damaged at the same time as your mobile phone, up to a maximum value of £350 (including VAT) per claim.

You need to pay a contribution every time you make a successful claim of:

  • Apple Handsets - £75
  • Non-Apple Handsets - £50

This policy has been arranged as part of your bank account and is administered by Lifestyle Services Group Limited (Financial Services Register No. 315245) with a single insurer, Assurant General Insurance Limited (Financial Services Register No. 202735). Assurant General Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Lifestyle Services Group Limited is authorised and regulated by the Financial Conduct Authority. All firms’ register details can be checked on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by phoning 0800 111 6768.

An automatic £300 interest-free and fee-free overdraft

Privilege Premier account holders can take advantage of an interest and fee-free overdraft. In addition, preferential rates are available if you need a higher limit and wish to apply for an arranged overdraft.

Privilege Premier savings account for the life of your Privilege Premier current account

Your Privilege Premier current account links to a Privilege Premier Savings account, opened automatically, so you don't need to do anything. You can transfer money easily and earn interest while you save. On balances up to £100,000, it pays a rate of interest which is guaranteed to track 0.1% below the Bank of England Base Rate for the life of your Privilege Premier current account.

Additional benefits

We know every customer's different. Which is why, with our Privilege Premier current account, you can choose any one of the three additional benefits packages provided by Lifestyle Services Group Limited and insured by Assurant General Insurance Limited at no extra charge, each year.

Change your additional benefits (at no extra cost) once every year - we'll write to you each year to let you know when. You can register your benefits by visiting this page.

Credit Report Monitoring

As well as having easy online access to your credit report, you can set up a monthly monitoring service which will alert you by text or email of any significant changes to your credit file. (Subject to terms and conditions)

Registration to activate this policy or service is required. You can do this online at co-operativebank.co.uk/benefits. Please note: registration for Credit Report Monitoring service is online registration only.

Airport Lounge Passes

You will receive 12 months’ DragonPass membership, which includes four free airport lounge visits per bank account to enjoy. Additional lounge visits and lounge visits for guests can be purchased at £15 per person, per visit.

DragonPass is the world’s largest airport lounge access programme with over 800 lounges worldwide. With business facilities, complimentary refreshments and space to relax away from the chaos of the departure hall, airport lounges are an oasis of calm.

(DragonPass is a new Airport Lounge provider. Any customers who have renewed or switched to the Airport Lounge Pass benefit prior to 17th July 2015 will still have this service provided by Priority Pass. Upon renewal post 17th July 2015, the service will be provided by DragonPass).

Gadget

Worldwide cover up to £1,200 for digital cameras, handheld DVD players, digital camcorders, MP3 players, portable Sat Nav devices, games consoles and laptops, etc.

Repair and replacement will be arranged upon return to the UK. Maximum individual item limit of £1,200.

Cover for theft, damage and breakdown (including faults) occurring anywhere in the world.

If any accessories for your gadget are stolen or damaged at the same time as your gadget, you are covered for these up to a value of £50 (including VAT). That’s a case, headphones and similar.

Subject to terms and conditions. Registration to activate the policy is required. You can do this online at co-operativebank.co.uk/benefits or by calling 0344 249 9981.

Privilege Premier savings rates

Your Privilege Premier current account links to a Privilege Premier Savings account, opened automatically, so you don't need to do anything. Transfer money easily and earn interest while you save.

Balance £ Gross*  AER* 
£100,000+ 0.71%
 0.71%
£1+ 0.68%
 0.68%
Effective from 14.11.2016

Only available to Privilege Premier current account customers.

Interest rates guaranteed to track 0.1% below the Bank of England Base Rate for balances below £100,000

Interest rates guaranteed to track the Bank of England Base Rate for balances over £100,000

* See our glossary.

Interest rates may vary and are payable annually. Withdrawals by cheque from your Privilege Premier savings account will be subject to a £5 charge (per cheque).

Important documentation

Privilege and Privilege Premier current accounts

These account are no longer available to new customers or existing customers who wish to upgrade. If you already have one of these accounts, all your benefits and services are still available.