Our 3 months free Everyday Extra offer ended on 27 November
The T&Cs for our 3 months free Everyday Extra offer can be found below. We have also put together some FAQs to support you with any questions you may have.
What our Everyday Extra packaged bank account offers you:
- Mobile phone insurance, worldwide travel insurance, and UK & European breakdown cover, all for just £15 per month
- The choice to opt into Everyday Rewards, to receive for yourself, or for a charity on your behalf, when you meet the monthly criteria
- Peace of mind knowing your banking services are with the original ethical bank – protecting the planet and supporting the community
- Available as a sole account or a joint account
- If you have a joint account, you'll both be covered independently for the same price
- Managing your money easily either online or in our mobile app.
Not the right account for you? Take a look at our other bank accounts.
Before you apply...
To apply you must:
- Be between 18 and 79 years old
- Meet the UK residency eligibility criteria for the insurance benefits (which excludes the Channel Islands and the Isle of Man)
Approval is based on an assessment of your personal circumstances and is subject to status and additional eligibility criteria.
You're unable to open an Everyday Extra account if you have:
- An existing Everyday Extra, Privilege Premier, Privilege, smilemore or Credit Card Plus account with The Co-operative Bank
- An account with another provider which includes similar benefits (like travel insurance, motor breakdown cover and mobile phone insurance)
- An equivalent standalone travel insurance, motor breakdown cover and mobile phone insurance in place. Where you do have existing cover, please ensure you review any current policies and are happy to proceed.
Refer a Friend – receive £125 for you and £125 for your friend too
If you're an existing current account customer with us, recommend a Co-operative Bank Current Account or Everyday Extra account to your friends and family and we’ll give you both £125 after they switch. Eligibility criteria and T&Cs apply.
- Covers for personal accidents and emergency medical expenses
- UK holiday cover included (excluding personal liability)
- Replacement of lost luggage
- Winter sports cover
- No excess to pay on claims
- Roadside assistance if you're stranded, at home or in Europe
- Up to 3 days' car hire while your vehicle is repaired
- Alternative transport to your destination or a hotel stay while you wait
- Electric vehicle (EV) cover too
- Cover for your mobile phone and SIM in the event of loss, theft, accidental damage, or breakdown (including faults), up to £1,500
- Cover for any unauthorised calls, texts, or data use
- Cover for your phone's accessories, up to the value of £350
- £75 excess, per claim
Exclusions and limitations apply to all policies. Please read each insurance policy to fully understand the level of cover provided.
What is a packaged bank account?
A packaged bank account is a current account that includes additional benefits or services, such as travel insurance, car insurance, or rewards and cashback - all for a monthly fee. Looking for the best packaged bank account for you? Learn more about what a packaged bank account is.
Overdrafts
Overdrafts are intended for short term borrowing and not suitable for long term borrowing.
An arranged overdraft is a set amount you've agreed with us in advance. You will be charged debit interest when you use your arranged overdraft.
Make sure you've read our overdrafts information whether you're intending to apply for one or not, so you know about arranged and unarranged overdrafts.
How our overdrafts work
An arranged overdraft is a set amount you've agreed with us in advance. You will be charged debit interest when you use your arranged overdraft.
Check your eligibility for an overdraft
You can check if you are likely to get accepted for an overdraft using our eligibility checker.
Calculate how much an overdraft will cost
Calculate the cost of an overdraft based on how you might use it with our overdraft calculator.
Overdrafts are intended for short term borrowing and not suitable for long term borrowing.
If you haven't arranged an overdraft
You'll go into an unarranged overdraft if you go over your arranged limit or your account balance falls below £0 without an arranged overdraft in place. You will be charged debit interest for going into an unarranged overdraft.
Your payments might be refused if you try to go overdrawn without having arranged an overdraft.
How overdrafts affect your credit reference file
Any type of borrowing shows on your credit file. However, an unarranged overdraft shows as arrears which can negatively impact your credit file and may make it harder for you to obtain credit in the future.
Charges
You will be charged debit interest when you enter into an arranged and/or unarranged overdraft at an annual interest rate of 35.9%.
How you can manage your overdraft
Change your overdraft limit
You can find out more about our overdrafts, including how to apply for a new limit, or change an overdraft limit you already have, by visiting our overdrafts page. You must make regular payments into your account to reduce the amount you owe.
If you already have an arranged overdraft limit with us, which you'd like to remove, you can do this by contacting us.
Text alerts when you go into your overdraft
To help manage your money and avoid/minimise debit interest you might pay, we send overdraft text alerts if you go into or you're about to go into an arranged or unarranged overdraft. We will also send alerts if you have payments due that may not be paid.
As long as we have your mobile number, you'll be automatically opted in for overdraft text alerts. You can opt out of arranged and/or unarranged overdraft alerts at any time by contacting us.
More information on overdraft text alerts
To apply for an overdraft you need to be:
- 18 or over
- A UK resident
- Employed, self-employed, retired or medically retired.
Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.
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.
Find out more about our overdrafts
Representative example
£1,200 credit limit
35.9% annual interest rate
35.9% representative APR variable
How does our overdraft compare?
The representative APR provided can enable you to compare the costs across different products and providers.
How much does my overdraft cost in pounds and pence?
As an example, the interest cost of borrowing £500 is
7 days: £2.98
30 days: £12.76
60 days: £25.66
This is based on borrowing £500 on the first day of our charging period and assumes this overdrawn balance remains until it is repaid at the end of 7, 30 or 60 days. This example does not include any interest-free amounts that are provided on some accounts.
How we limit these overdraft charges
We have a £60 cap on interest for any type of overdraft (arranged overdraft or unarranged overdraft) in one charging period. This is the maximum you will ever pay for using an overdraft per charging period.
The monthly cap refers to the charges applied in a charging period not a calendar month. Please refer to the Account Charges Leaflet (PDF) for details of the charging periods.
Below is a standard definition to allow you to compare unarranged overdraft charges across different providers. Fees are included in the comparison, but we choose not to charge you fees for payments where you have a lack of funds.
Each current account will set a monthly maximum charge for:
a) Going overdrawn when you have not arranged an overdraft.
b) Going over or past your arranged overdraft limit (if you have one).
This cap covers any:
a) Interest and fees for going over or past your arranged overdraft limit.
b) Fees for each payment your bank allows despite lack of funds.
c) Fees for each payment your bank refuses due to lack of funds.
Charges
Account fees
There is a monthly fee of £15 for maintaining this account, which provides you with worldwide travel insurance, UK & European breakdown cover and mobile phone insurance.
Debit interest
You'll be charged debit interest at an annual interest rate of 35.9% on the amount you're overdrawn by.
Other charges
Other charges as part of this account may include:
Already have a current account?
You can upgrade your existing current account through our online banking services.
If you've applied as part of the Refer a Friend Offer, please read the full terms & conditions.
Important documents
Upgrading to an Everyday Extra account
If you have an existing current account with us and are looking to upgrade to an Everyday Extra account, you can upgrade your existing current account through our Online Banking services.
Not registered for online banking? Get set up here.
Through Online Banking, you’re able to apply to upgrade your account by:
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Logging in to our Online Banking service
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Once you've selected the account you want to upgrade, click 'Manage account'
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If your account is eligible to upgrade, you'll see an 'Upgrade to an Everyday Extra account' button
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Click this button and follow the on-screen instructions.
Please note, the visibility of the 'Upgrade to an Everyday Extra account' button is subject to status and based on additional eligibility criteria.
Please note, the visibility of the ‘Learn more’ button is subject to status and based on additional eligibility criteria.
How to upgrade to an Everyday Extra account
To upgrade to an Everyday Extra account, you have to:
- Be between 18 and 79 years old.
- Meet the UK residency eligibility criteria for the insurance benefits (which excludes the Channel Islands and the Isle of Man).
- Hold a Co-operative Bank Current Account or Current Account Plus.
- Have registered for online banking with us.
- Approval is based on an assessment of your personal circumstances and is subject to status and additional eligibility criteria.
- Please be aware the insurance for this account won't cover you until we confirm your Everyday Extra account is open.
Please note, you can't upgrade to Everyday Extra Current Account if:
- You have an existing Everyday Extra, Privilege Premier, Privilege, smilemore or Credit Card Plus account with The Co-operative Bank.
- You have another account with another provider which includes similar benefits (like travel insurance, motor breakdown cover and mobile phone insurance).
- You have equivalent standalone travel insurance, motor breakdown cover and mobile phone insurance in place. Where you do have existing cover, please ensure you have reviewed the policies and are happy to proceed.
- You’re currently using an unarranged overdraft.
- You are currently using the £200 overdraft limit for Current Account Plus.
To upgrade to a joint Everyday Extra account, you will need to have a joint current account before applying to upgrade.
If you already have a sole Co-operative Bank Current Account and want to upgrade to a joint Everyday Extra account
Use this form to convert your current account to a joint account before applying to upgrade to a joint Everyday Extra Current Account. Please note, after converting you’ll both need to meet our eligibility criteria to upgrade.
Also, please be aware that a sole Everyday Extra account cannot be converted to a joint account after the account has been opened.
Find out more about joint accounts, including the impact and responsibilities of each account holder
Additional things to consider:
- Please note that once you have opened a sole Everyday Extra account, you won't be able to add an additional account holder.
- If you do not wish to pay a subscription fee, a non-fee paying current account is also available.
- Depending on your individual circumstances, it may be better value for money to purchase the insurance benefits separately from another provider.
Ready to upgrade an existing current account?
Log into online banking to see if you're eligible.
To upgrade to this product, you need to be registered for online banking. If you're not, go here to register. If you are, please follow the next steps:
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Log in to online banking
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Once you've selected the account you want to upgrade, click 'Manage account'
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If your account is eligible to upgrade, you'll see an 'Upgrade to an Everyday Extra account' button
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Click this button and follow the on-screen instructions.
Please note, the visibility of the 'Upgrade to an Everyday Extra account' button is subject to status and based on additional eligibility criteria
Please note, the visibility of the ‘Learn more’ button is subject to status and based on additional eligibility criteria.
Switching
If you have an active current account with a different bank, you can apply to switch to us whenever you’re ready.
With our simple switching process, we’ll move all your direct debits, standing orders and bill payments to your new account with us.
Once you've applied to switch, you don't need to do anything else as we take care of the rest.
You can choose what date you’d like to complete the switch and close your old account. Once the switch has started, it takes just 7 working days to complete. And you'll be covered by the Current Account Switch Guarantee, so you don't need to worry about missing payments.
Get help with your Everyday Extra account
If you need help with things like:
Then we have all the information you need in our help centre.
What is the ‘Everyday Extra: 3 months on us’ offer?
If you successfully applied for an Everyday Extra account between 6 – 27 November 2023, we will cover your first 3 months of account subscription fees. You will still be charged a monthly fee of £15, but we will reimburse those fees by way of 3 corresponding £15 credits.
The T&Cs for our 3 months free Everyday Extra offer can be found below.
I’ve been charged my monthly subscription fee, when will I receive payment?
The Everyday Extra subscription fee of £15 will be taken from your account on the first working day of each month.
You will receive a credit of £15 into your account within each of the first 3 months that the monthly fee is charged.
Are there any limits to the offer?
You must have applied for, or upgraded to the Everyday Extra account between 6 – 27 November 2023. We will cover your first three months of Everyday Extra subscription fees, up to a maximum of £45. We will not reimburse any additional fees, such as any additional premium you may need to pay in relation to the Travel Insurance benefit included with the account.
What happens when the offer comes to an end?
We will reimburse your £15 monthly subscription fee for the first 3 months following account opening, up to a maximum of £45. Following this, you will continue to be charged £15 on the first working day of each month that the account is open.
If you no longer wish to have access to the account benefits, including AXA Travel Insurance, RAC Breakdown cover and LSG Mobile Phone Insurance, you can convert your Everyday Extra account to our standard no-fee Current Account through Online Banking. Please log into Online Banking, and follow the instructions to downgrade the account. Alternatively, you can close the account by sending us a secure message in Online Banking, or calling 03457 212 212 (lines are open 8am - 6pm Monday to Friday, 9am - 5pm Saturday and Sunday.)
Please note that if you close or downgrade your account, all account benefits and insurance policies will be cancelled with immediate effect.
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).
Financial Services Compensation Scheme
Your eligible deposits held by a UK establishment of The Co-operative Bank plc 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 following: The Co-operative Bank, Britannia 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.
Not found what you're looking for?
Contact our support team