
The Co-operative Bank is one of the UK's original ethical banks, founded in 1872. They're known for their strong ethical policy that refuses to invest in harmful industries like fossil fuels, weapons manufacturing, and unethical labour practices.
Despite the similar name, The Co-operative Bank is now separate from the Co-op retail chain. They serve around 3 million customers and offer a full range of banking products including current accounts, savings, and mortgages.
The main draw here is the easy £100 switch bonus – you complete the switch and meet simple criteria within 25 days. That's it for the quick win.
If you're happy to stay a bit longer, there's an optional £25/month bonus for the next 3 months (steps 5-11). Each month you meet the same criteria: £1,000 deposit, 10 transactions, 2 Direct Debits. Miss a month? You can still qualify for the next ones – they're independent.
Before starting a switch, check the existing current account you're switching from:
Plus:
Done? Tick off each step above to see your total.
Completed the offer? Awesome! Here's our full review on why The Co-operative Bank could work well for you going forward.
The Co-operative Bank was founded in 1872 and is one of the UK's original ethical banks. They're particularly known for their customer-led ethical policy, which was the first of its kind in UK banking. With around 3 million customers, they're smaller than the big high street banks but have a loyal following, particularly among customers who value ethical banking principles.
Yes. The Co-operative Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and PRA (firm reference 121885). Your deposits are protected up to £120,000 by the Financial Services Compensation Scheme (FSCS). Despite the similar name, The Co-operative Bank is now a separate company from the Co-op retail chain – they parted ways in 2017, though the bank kept the name and branding.
The Co-operative Bank is ideal for customers who value ethical banking. Their ethical stance means they refuse to invest in fossil fuels, weapons manufacturing, companies with poor human rights records, and businesses involved in animal testing for cosmetics. If you want your bank to align with your values, they're worth considering as a longer-term bank beyond just the switch bonus.
Customer-led ethical policy that refuses to invest in harmful industries like fossil fuels, weapons, and poor labour practices.
4.8 stars on App Store (80k reviews) and 4.6 on Google Play (51k reviews). Covers all the features you'd expect from a full-service bank.
The Everyday Current Account has no monthly fee, making it straightforward for the switch offer.
Deposits protected up to £120,000 by the Financial Services Compensation Scheme.
The Co-operative Bank offers a solid switch bonus that's easy to qualify for. The main £100 bonus requires minimal effort – just switch via CASS, deposit £1,000, and make 10 transactions within 25 days. If you want to maximise your earnings, the optional stay incentive adds another £75 over three months. The ethical banking stance is a genuine differentiator if that matters to you, though you don't need to stay long-term to benefit from the switch offer.