Payment methods

Direct Debits

Direct Debits make paying bills easier, saving you time and money. You can pay utility bills, credit card bills, mortgage / rent payments or a monthly / annual membership fee / subscription.

A Direct Debit is an instruction from you authorising an organisation to collect varying amounts from your bank account.

For more information please visit the pay your way website.

Standing orders

Standing orders mean you do not need to remember to pay a regular commitment such as your mortgage / rent or fixed monthly bills. A standing order is an instruction you give to make a set payment to another account. Your bank will debit your account on the day specified and transfer the funds to the person or business concerned.

Standing orders are made using the Faster Payment Service but can only be received in the payee's account on Business Days. If your standing order is to pay a Co-operative Bank/smile credit card, please allow two Business Days for your payment to be processed.

Where a Faster Payment cannot be made, for example, in the event that the recipient bank does not accept faster payments or the payment value exceeds any internal payment limits and/or any Faster Payment Scheme limits, we will offer you an alternative payment arrangements such as CHAPS. There may be a charge for this service, details of which are set out in the account charges leaflet, and we will discuss whether these charges apply before you proceed with the payment

For more information please visit the pay your way website.

Bill payments

Bill payments allow you to send funds at any time and gives you control over when payments are made. You can even set up a payment for a future date to pay a bill whilst you are away. Bill payments can be used to pay utility bills, credit card bills or ad hoc bills. Paying this way allows you to send a reference number with your payment e.g. a credit card number or a telephone account number.

Bill payments are made using the Faster Payment Service. If you are making an immediate bill payment, your payment should normally reach the payee's account immediately. If you are setting up a future dated bill payment, please remember these can only be received in the payee's account on Business Days.

If you are paying a Co-operative Bank / smile credit card , please allow two Business Days for your payment to be processed.

Where a Faster Payment cannot be made, for example, in the event that the recipient bank does not accept faster payments or the payment value exceeds any internal payment limits and/or any Faster Payment Scheme limits, we will offer you an alternative payment arrangements such as CHAPS. There may be a charge for this service, details of which are set out in the account charges leaflet, and we will discuss whether these charges apply before you proceed with the payment

For more information please visit the pay your way website.

Fund transfers

A funds transfer is an easy way to move money from one UK bank to another giving you control over when the payment is made. This could be used for moving funds between your own accounts, transferring money to another person or paying somebody for goods/services provided. A funds transfer can be set up for a future date if you are going to be away.

Funds transfers are made using the Faster Payment Service which means your payment should normally reach the payee's account immediately. If you are setting up a future dated funds transfer, please remember these can only be received in the payee's account on Business Days.

Where a Faster Payment cannot be made, for example, in the event that the recipient bank does not accept faster payments or the payment value exceeds any internal payment limits and/or any Faster Payment Scheme limits, we will offer you an alternative payment arrangements such as CHAPS. There may be a charge for this service, details of which are set out in the account charges leaflet, and we will discuss whether these charges apply before you proceed with the payment

For more information please visit the pay your way website.

Debit card

Your Co-operative Bank Visa debit card is the simple, safe and sensible way to pay for your everyday goods and services at home and abroad, online or on the high street.

It’s the only card you need, making your life easier when you need to pay for essentials like: your weekly grocery shopping, petrol, train or plane tickets, clothes or shopping trips and meals out or cinema and concert tickets. All transactions made at an internet merchant provide added protection.

For more information please visit the pay your way website.

Cheques

A cheque is a document that instructs a bank or building society to pay a specific amount of money from one person's account to another. Cheques are still widely accepted and can be used for things such as gifts and for paying your bills.

If you write a cheque and it is paid into a bank or building society using cheque imaging, it should debit your account after two Business Days, once the cheque has been presented for payment at the payee's bank. If the bank or building society isn’t using cheque imaging, this should debit your account after three Business Days.

If you pay a cheque into your account, once we receive the cheque, it will clear and credit within two Business Days.

Once the cheque is credited, if applicable, you will then start to earn interest or interest charges will start to reduce on your overdraft. If a cheque you deposit isn’t paid, then a credit won’t appear on your account and a letter will be sent to notify you of this.

If you pay a cheque into a Co-operative Bank branch, you should expect to see the cheque clear and credit your account within two Business Days.

If you pay a cheque into a Post Office, you should expect to see the cheque clear and credit your account within four Business Days.

If you post a cheque to us, it can depend on how long the post takes to reach us, but once we receive the cheque it will clear and credit the account within two Business Days.

Chaps

Using a CHAPS payment gives certainty when a major payment has to reach the payee on the same working day. A typical example of this is a house purchase/completion. There is a £25 charge for a CHAPS payment.

For more information please visit the pay your way website.