Whether you’re saving for a holiday, a wedding or even just a rainy day, savings accounts are a great way to put your money away.
Want to know more about savings accounts? Find out how savings accounts work, how to open a savings account, and how to pay in money here.
Some of our savings accounts can be managed through online banking. Once your account has been opened, you will be able to transfer funds into your savings account online instantly from another Co-operative Bank account.
If you’ve downloaded our app, you can make deposits to and from your savings account instantly from another Co-operative Bank account. If you’d like to manage your savings using our app, make sure that you choose a compatible savings account.
You can deposit cash into your account in any of our Co-operative Bank branches. Use our branch locator to find the branch that’s nearest to you.
We recommend you use the branch when you pay in cash. You should never send cash through the post.
You can pay cheques into your account by visiting a Co-operative bank branch or by visiting your local Post Office. You can also post it to us direct. Find out the specifics about paying in cheques here.
To pay over the phone, please give us a call and we will be happy to make a transfer from your existing Co-operative Bank account.
Savings accounts are a safe place to store your money, but how do they work?
Money you keep in a savings account is protected by the Financial Services Compensation Scheme (FSCS). The FSCS is the UK‘s deposit guarantee scheme that would return your money in the unlikely event that any bank is unable to meet its financial commitments or stops trading.
We offer a range of different savings accounts for you to choose from, each suited to a different type of saver. It’s important you choose the right account for you.
You can get the most interest on your money by putting as much as possible into a savings account.
Savings accounts pay interest on the amount you keep in them; the more money you have, the more interest you earn.
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To get the savings account best suited to your needs, you should consider what type of saver you are.
Are you saving for the long-term or short-term? Do you need constant access to your savings or are you able to lock it away for a period of time to earn more interest?
The best way to save and earn interest is by finding the right account for you and adding funds to it as regularly as you can.
To find out more about the different savings accounts we offer, follow the link below.
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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