Step 1 - Start using your account
£125 set up payment
Within 30 days of your switch completing:
And we’ll credit your account with £125 within 7 days.
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Related queries
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Switching bank accounts is easy
We’ll move all your Direct Debits, standing orders, and bill payments to your Co-operative Bank current account in just 7 business days.
How switching works
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The account that amounts to more
When you bank with us, your money helps support youth clubs, animal welfare, and stronger local communities.
Our values and ethics
About the offer
Switch a current account from another provider to your existing Co-operative Bank account or apply for a new standard Current or Everyday Extra Account to be eligible for up to £300.
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£125 when you switch and use your account
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£75 over 3 months when you actively use your account
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£100 loyalty bonus for eligible existing customers. This includes The Co-operative Bank, smile, Coventry Building Society, Godiva Mortgages and ITL Mortgages.
Switch offer eligibility, criteria and Terms and Conditions apply for this offer.
How it works
Have a current account with another provider?
Apply for a standard Current or Everyday Extra Account and complete a full switch of your existing current account.
Have an existing Co-operative Bank current account?
Switch your existing Co-operative Bank account (includes standard Current, Privilege, Privilege Premier, Current Account Plus, Everyday Extra Accounts).
Step 2 - Continue to use your account
£25 for 3 months
Once you've qualified for the £125 set up payment:
And we'll credit your account with £25 for each month you do this for up to 3 months (max £75).
Important information
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smile customers must switch to The Co-operative Bank from an external provider. smile current accounts cannot be switched to The Co-operative Bank.
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Deposits and transactions made before your switch completing will not count towards fulfilment of this criteria. Any balances transferred as part of the switch will count towards the £1,500 for step 1 in the first month only.
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This offer is not open to customers who have benefited from a switch offer with us since November 2022.
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Your personal data may be shared between The Co-operative Bank and Coventry Building Society in order to complete eligibility checks.
When do my 3 months start?
Your 3 months begin on the day after you receive your £125 set up payment.
The month to meet your criteria in will run to (but not including) the same date of the following month. Months 2 and 3 will begin on the day after this.
For example, if you receive your £125 set up payment on 14 July your months would be the following.
Month 1: 15 July to 14 August
Month 2: 15 August to 14 September
Month 3: 15 September to 14 October
£100 bonus for existing customers
We’ll credit your account with £100 in November if you:
- had an account open with one of our companies as at 21 June 2026
- met the criteria for the initial £125 set up payment
- still have an account open with us in November
This is available to customers of:
- The Co-operative Bank and smile
- Coventry Building Society
- Godiva Mortgages Limited
- ITL Mortgages Limited
The £100 loyalty bonus is available to personal customers only. Business customers, organisation accounts, and mortgages held in a business name are not eligible.
Switch offer eligibility, criteria and Terms and Conditions apply for this offer.
Switching is easy and takes just 7 days, thanks to the Current Account Switch Service.
- Within 3 to 5 Days
We’ll move all your regular payments to your new account. - Within 6 to 7 Days
We’ll transfer your bank account balance, your old account will be closed and we’ll let you know that the switch is complete.
You should review our switching guide for information on how switching works and the Current Account Switch Service Terms and Conditions.
Your new account will be at The Co-operative Bank. Find out how you can bank with us.
Not banking with us yet?
If you do not have a Co-operative Bank account
Apply for a standard Current or Everyday Extra Account and switch your existing account to us during the offer period to qualify for this incentive.
You can request a switch when you apply or within 2 weeks of your account opening.
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If you already have an eligible Co-operative Bank account you can use our online switch form.
Standard
No monthly fee
Our standard Current Account comes with useful features to help you manage your day to day banking.
Eligibility, Terms and Conditions apply.
Packaged
£12 a month
Get all the features of our standard Current Account, with helpful, added extras.
Eligibility, Terms and Conditions apply.
Exclusions and limitations apply to all benefits.
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Not right for you? View all our current accounts.
Already banking with us?
You can switch and earn if you already have one of the following Co-operative Bank accounts:
- standard Current account
- Privilege
- Privilege Premier
- Current Account Plus
- Everyday Extra Account
Important documents
Please review these documents, and save a copy for future reference.
This offer, or parts of this offer, may be changed or withdrawn at any time.
The finer details
The Co-operative Bank and Coventry Building Society are separate legal entities. Coventry Building Society does not provide advice, recommendations, or product information about The Co-operative Bank's current accounts.
Looking for a previous switch incentive?
To view the Terms and Conditions of previous switch incentives and other offers, visit our Offers Terms and Conditions page.
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 £120,000 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 and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.
Please click here for further information or visit www.fscs.org.uk
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