Coronavirus support for businesses
27 March 2020
If you are concerned about coronavirus having a financial impact on your business, we are here to support you.
Changes to our contact centres
Due to the impacts of coronavirus on our colleagues, we have taken the decision to reduce our contact centre opening hours to 8am – 6pm Monday to Friday. We will be closed on Saturdays.
Please be aware, we are currently dealing with unprecedented levels of calls. Help us to protect our services and support our most vulnerable customers by only contacting us if it is urgent.
You can continue to manage your money from home using online banking. Getting started is easy and you can find more information below.
Get advice as a business, employer or employee
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses. You can find the most up to date information here:
The Government have announced a package of measures to support those people who are self-employed. You can find out more about what this means for you here:
The UK Government and Federation of Small Businesses have published articles to support businesses, employers and employees.
These articles contain information about:
- the novel coronavirus, COVID-19
- how to help prevent spread of respiratory infections including coronavirus
- what to do if someone with suspected or confirmed coronavirus has been in the workplace
- what advice to give to individuals who have travelled to specific areas
- advice for the certification of absence from work resulting from coronavirus
Get financial support as a business
We are ready to support you to help manage your cash flow.
There are lending products available from us such as overdrafts, loans or charge cards. We can look at temporary increases or requests to pause or reduce current payment obligations, and will take a flexible approach, based on your individual circumstances. We are also currently committed to no arrangement fees for overdraft or loan facilities provided as a result of coronavirus.
If you’d like to request any additional support, or find out more about the recently announced Coronavirus Business Interruption Loan Scheme, please visit our dedicated page below.
Use online banking during busier call times
If you usually call us to complete transactions on your behalf, you should consider having online banking as a backup. We are expecting busier call times and this may result in disruption to your normal service.
You can manage your day-to-day banking needs through our secure online banking platform, even if you're away from your usual work location.
Registering for Business Online Banking is simple and straightforward. You can register if you hold any of our business current accounts. Once you receive your secure token, which takes between 3-5 working days, and register it with us, you can start using the service which allows you to:
- Check your balances
- View your statement information
- Make payments to another person or company
- Transfer money between your Co-operative Bank business accounts
Using the service request form, you can request paying in books, cancel direct debits and cancel standing orders that haven’t been set up through online banking.
Please note any standing order set up through online banking will need to be cancelled via online banking also.
Staying safe online
Keeping your information secure and confidential is crucial to us. Find out how we keep your money safe and what you can do to protect yourself when banking online.
Visiting our branches
Our branches will stay open wherever possible during this challenging time. However, opening hours may vary. If there are any changes to our branch opening hours, they will be updated on our branch locator page.
We have robust measures in place to ensure the continued safety and wellbeing of branch colleagues, including social distancing using security screens, enhanced cleaning standards and telephone appointments. In order to further protect our colleagues, customers and communities, we would ask that you only visit a branch if absolutely necessary. Please adhere to Government advice and stay at home where possible.
Remember, online banking is available for your daily banking needs.
Keeping your money safe is one of our top priorities. Opportunistic fraudsters are using the coronavirus outbreak to scam businesses out of banking details and business information.
We will continue to raise awareness of common fraud scams and threats, and are committed to working with the wider industry on initiatives such as Take Five.
How we're continuing business during the coronavirus outbreak
In light of the government’s recent announcement, we have understandably received questions on how we’re continuing to support our customers, and protect our colleagues. Many of our colleagues are described as ‘key workers’. This means they have an essential role in keeping the bank running, ensuring our customers have access to their money at this critical time.
We have robust plans in place and the continuity of our services is vital. We want to make sure we continue to serve our customers at a time when they need us most. The health, safety and wellbeing of our colleagues, and our community is our foremost priority.
We are abiding by social distancing guidelines, both in branches and offices. Where colleagues can work from home, we are encouraging them to do so.
For colleagues who are in based in one of our locations, and looking after our customers directly, we have put in place measures to protect their health and wellbeing.
Changes we may make as a bank
We will continue to monitor the impact coronavirus may have on the wider financial markets and we will update customers if any changes are needed as things progress.
Standings of Lending Practice
The Co-operative Bank is one of the registered firms to subscribe to the Standards of Lending Practice which set the benchmark for good lending practices in the UK.
The Standards outline the way registered firms are expected to deal with their customers throughout the entire product life cycle.