Co-op Bank is offering new and existing customers up to £150 as a free cash incentive for switching current account and saving with the bank.
The bonus is split into two parts – a £100 sum and £50 boost.
Account holders will need to make an eligible switch from a current account with another bank using the Current Account Switch Service to get £100.
If the customers save in an eligible savings account then they will get an extra £50.
Co-op Bank's bonus is split into two parts – a £100 sum for the current account switch and a £50 boost for those who save
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For the £100 boost, customers must open a Standard Current Account or Everyday Extra account, or have an existing Current Account, Everyday Extra account, Current Account Plus, Privilege account or Privilege Premier account.
They will then need to complete a full Current Account Switch from their main current account with another bank to one of the aforementioned qualifying accounts.
To get the bonus, they must not have had, or be waiting to receive, any switch incentive from the bank since November 1, 2022.
The switch will take just seven business days once it has begun.
In the 30 calendar days following the switch's completion, customers must:
- Deposit £1,000
- Have two Direct Debits or standing orders set up
- Make five card transactions
- Register for Co-op's online banking services or mobile app.
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To get the £50 savings bonus, savers will need to open one of Co-op Bank’s exclusive accounts for current account customers – the Base Rate Tracker or Online Saver.
Otherwise, they will need to have an existing Base Rate Tracker, Online Saver, Privilege Savings, Privilege Premier Savings or Savings Plus account.
To get the bonus, savers must have met all the aforementioned switch incentive eligibility criteria.
They must also have at least £25 in the eligible savings account on day 45 after the eligible current account switch.
