Help the people around you put their money where their ethics are — and we’ll reward you both for it. When you refer your friends and family to become a Co-operative Bank customer we’ll give you both £125 to say hello, and thank you.
As a Co-operative Bank customer, you’re part of an ethical bank that helps to make a difference. We are the UK’s first bank to have a customer-led Ethical Policy, which is still unique to this day. Our Ethical Policy defines how we act as a business, the causes we support, and the ways we use (and won’t use) our customers’ money.
So, if your friends and family are like you and share our values, we’re offering you all the chance to be rewarded when they switch to either our standard Current Account or Everyday Extra account.
Please note: you can still refer someone for the Refer a Friend offer if you hold a Cashminder account, Student account, Current Account Plus, Privilege or Privilege Premier account, but the person opening the new account needs to open a Current Account or Everyday Extra account to be eligible for this offer.
To be eligible for the offer, the person you’re referring must:
And the following must be done within 60 days of the account opening:
If you're an existing customer with a Co-operative Bank current account and you’re interested in referring someone as part of this offer, you can ask them to search ‘The Co-operative Bank Refer a Friend’ online to find this page, or visit their local branch, where they can read the offer terms and conditions.
So you can both get your £125 payment, make sure they first follow the steps to qualify for the offer, and after the switch is complete that they remember to complete the referral form.
Apply for a Current Account or Everyday Extra account online.
If you apply for a Current Account, you can switch your main current account as part of your application, or after the account has been opened.
If you apply for an Everyday Extra account, you’ll need to switch your main current account once the new account is open by calling us or visiting us in-branch.
Once your account is open, and you have a confirmed switch end date from your previous current account, you need to complete the referral form below. You must send this to us within 60 days of account opening.
You’ll need your new Co-operative Bank account details, the full name of the person who referred you, and their current account details and email address. We’ll check if the offer eligibility criteria have been met. And if they have, we’ll credit you and the friend that referred you with £125.
Please note: you can’t submit a referral form until you’ve received an email or letter confirming your new account is open. You can submit the form as soon as you receive this message – you don’t need to wait until you’ve deposited £800, set up 2 Direct Debits, made 5 payments and registered for online banking.
Please note that our Cashminder and Student accounts are not part of the Refer a Friend Switching Offer.
You can apply for your current account in a Co-operative Bank branch, but it’s important that you let the staff member know you’re switching as part of the Refer a Friend Switching Offer.
Please make sure that you also have the full name, sort code, account number and email address of the person that referred you. We’ll need this information to arrange your offer payment, if you qualify.
Once you've applied to switch, you don't need to do anything else. The Current Account Switch Service will automatically switch your account from the bank you’re currently with. This means that all your direct debits, standing orders, bills and payments will move to your new account with us.
Switching takes 7 working days and you're covered by the Current Account Switch Guarantee, so you don't need to worry about missing payments.
There’s no limit to how many friends you can refer, so every eligible friend you refer will receive a £125 reward.
Please note: We reserve the right to withhold any payment (or to reverse any payment already made) where we have reasonable grounds for suspecting you have sought to materially abuse or profiteer from the offer. For example this may arise if we have grounds for believing that you have sought to engage in a marketing campaign to solicit applications from individuals who are not from within your family or immediate circle of friends.
Once the person being referred has switched to their new Co-operative Bank account, and all the terms and conditions of the offer have been met, we’ll pay you both £125.
These payments will be made to both of you within 90 calendar days from the day of account opening.
1.1 To be eligible for this offer, you must hold one of the following current accounts: Current Account, Current Account Plus, Privilege, Privilege Premier, Everyday Extra, Student Account or Cashminder. smile current accounts are not included in this incentive. We will not make payment to either you or your Recommended Friend should you attempt to participate in this offer without a qualifying current account. It is your responsibility as the Recommender to ensure that you meet the eligibility before extending this incentive to your Recommended Friend(s).
1.2 Your Recommended Friend must open and complete a Full Switch using the Current Account Switching Service, in addition to meeting the eligibility criteria outlined below. Your Recommended Friend must open one of the following accounts to qualify:
Please note we will not make a payment to either the Recommender or Recommended Friend if they open a smile current account, Student Account or a Cashminder account, even if a full switch is completed, or where any account application is declined.
1.3 You consent to your Recommended Friend providing us with your full name, your current account sort code and account number and an email address on your behalf to enable us to make the offer payment should you qualify; and
1.4 Your Co-operative Bank current account must be open at the time the incentive is paid to be eligible to receive the payment;
1.5 You must be making a personal referral, and not acting in the course of any business activity.
2. Recommended Friend
2.1 To qualify for this offer as an eligible new customer you must:
2.1.1 open a new Co-operative Bank standard Current Account or Everyday Extra Account (smile current accounts, Student Accounts and Cashminder accounts are excluded from this offer. We will not pay either the Recommender or the Recommended Friend where a smile current account, Student Account or Cashminder account is opened, even if a full switch is completed, or where any account application is declined); and
2.1.2 not have held a Co-operative Bank current account or smile current account since 01/11/2022. This includes: Current Account, Current Account Plus, Privilege, Privilege Premier, Everyday Extra, Student Account, Cashminder, smile or smilemore; and
2.1.3 Within 60 days of account opening:
188.8.131.52 complete a Full Switch into your new account using the Current Account Switch Service (which will include the closure of your old account and moving all your payment instructions to the new account on the day that your switch completes); and
184.108.40.206 deposit at least £800 into your new eligible account (this can be transferred as part of the switch and/or by one or more deposits); and
220.127.116.11 have at least 2 active Direct Debits in place on your new eligible account (these can include any that are transferred as part of the switch); and
18.104.22.168 make a minimum of 5 payments using the debit card on your new eligible account (this includes any digital wallet transactions); and
22.214.171.124 register for our online banking service; and
126.96.36.199 complete the referral form contained on the offer webpage once you have your Co-operative Bank sort code, account number and switch end date; and
2.1.4 Your Co-operative Bank current account must be open at the time the incentive is due to be paid, in order to be eligible to receive the payment.
3. Payment of the offer
3.1 Either party will only qualify for the payment if all these terms and conditions are met.
3.2 If you meet these terms and conditions and qualify for the offer, we will credit £125 to the Recommender and £125 to the Recommended Friend within 90 calendar days of account opening.
3.3 As we are paying you for recommending your friend, you must consider your personal tax position.
3.4 Recommended Friends will qualify for payment if they meet the conditions, regardless of how many friends the Recommender has referred providing they were referred by an eligible Recommender.
3.5 If the current account that you are switching to us is in joint names, we will only credit the current account with £125 per account, not £125 for each person named on the account.
3.6 The Recommended Friend is entitled to only one incentive payment, even if they switch more than one account to us or if more than one Recommender refers them.
3.7 The Recommender will only receive payment where the Recommended Friend has completed their details on the referral form. If someone else refers that friend, we will pay the first Recommender whose details are provided on the first referral form we receive.
3.8 We reserve the right to withhold any payment (or to reverse any payment already made) where we have reasonable grounds for suspecting you have sought to materially abuse or profiteer from the offer. For example this may arise if we have grounds for believing that you have sought to engage in a marketing campaign to solicit applications from individuals who are not from within your family or immediate circle of friends.
4. Duration and withdrawal of the offer
4.1 We can withdraw this offer at any time and should we choose to do so, we will update our website with the final application date on which we will honour any payments.
4.2 From withdrawal, neither party will be eligible to qualify for this offer unless the Recommended Friend’s new eligible account was applied for on or before the final date stated at the time of withdrawal.
4.3 If we withdraw the offer, the Recommended Friend will have 14 days from the date the offer is withdrawn to return the referral form.
5. Our right to decline your application
5.1 Our accounts are subject to eligibility criteria, status and our lending policy. We reserve the right to decline your application. Where we decline your application, we will not make a payment to either the Recommender or Friend.
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.
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