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Savings & Cash ISA Applications

Everything you need to know about applying for our savings and cash ISA products.

On this page:

Eligibility criteria

To apply for most of our savings accounts and cash ISAs, you just need to be:

  • 16 or over for a savings account
  • 18 or over for a cash ISA
  • a UK resident

However some of our accounts have different eligibility criteria, such as our children's savings accounts. Please check individual products for specific eligibility.

Remember:

  • You cannot pay into a cash ISA with us if you have already paid in the full annual ISA allowance in this tax year.
  • You cannot pay into more than one cash ISA with The Co-operative Bank and smile in the same tax year.

What you'll need to apply online

To start your savings account application, you'll need:

  • a UK mobile number - we'll send you one time passcodes (OTPs) and application updates by text message
  • an email address - we'll send you a link to verify it, and if you do this you'll receive application updates by email as well as text message
  • your address history over the last 3 years
  • a document as proof of identity (UK passport, UK-issued photocard driving licence or residence permit), which we use to help protect your identity - we'll ask you for this through Onfido (the secure third party application), or we accept a wider range of documents if you bring it in branch or send it by post
  • a device with a camera to take a selfie for ID checks - your image may be checked by a member of our team, so make sure it's suitable for review

If you have a joint account, each person will need to provide these details and proof of identity.

Your first one time passcode (OTP) will come from an unfamiliar number (+447537152178).

You will also receive a text with a link to the application portal - this is unusual for us, but safe. If you'd prefer, you can access the portal directly from this page instead.

How long applications will take

If you have all your information to hand, the application will take you roughly 10 minutes.

It will take us around 24 hours to let you know whether or not your application was successful but it may take longer in some cases.

Get updates in your application portal

Once you've submitted your application and received a text message or email from us saying we received your application, you can check the status of it by logging into your application portal.

Continue to application portal

Do not share your code with anyone

If you have been called and asked for your one time passcode (OTP), hang up and call 159 - you are being scammed

About the application portal

The application portal is a secure place to see the progress of your applications.

If we need any more documents from you before we can confirm the outcome of your application, we'll also ask for these via the portal.

Understanding application declines

We know it can be disappointing when an application is declined. There are a number of reasons this might happen.

Find out about application declines

MoneyHelper

MoneyHelper is a free-to-use, government-supported advice service to help you with a variety of financial situations. Their aim is to provide you with clear money and pension guidance, online or over the phone.

Some of the helpful tools they offer include:

Watch out for fraud

Fraudsters are posing as us and sending fake text messages and emails. Always check you're on our genuine website by checking the web address at the top of your browser.

Learn about common and new scams, find helpful tips and guides for staying safe, and discover independent organisations available to help you in the fight against fraud.

Find more on our Fraud and Security hub

We are Fraud Fighters Co-operative Bank branded logo

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.

Business day is usually Monday to Friday excluding bank holidays.

Calculated daily means the interest earned is based on the amount of money in your account at the end of each business day

Calendar month means from midnight on the first day of a month to 11.59:59pm on the last day of the month.

Fixed interest means the rate stays the same until the account matures.

Gross is the rate of interest payable before any tax is taken off.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Variable interest means that it could go up or down.

Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.

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

Find out more about Financial Services Compensation Scheme | This will open in a new tab

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank p.l.c. 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 Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please read further information on the FSCS scheme here or visit their website.

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