+£200
Current Account59 mins
The Co-operative BankCurrent Account
£200 Free Cash•59 mins
£200 Free Cash
+£200What is The Co-operative Bank?
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.
Launched
1872
Customers
2.5m+
Google Play
4.6 (53k)
★★★★★★
Key Terms
Profit
+£200
Credit checkHard check
Direct debits2
Pay-in£1,500
Card transactions5
Free cash£200
Free cash arrives
17 days
17 days (£125) + 114 days (£75)
Eligibility: New and existing customers. Must not have received a switch incentive from Co-op since November 2022
Step by Step Guide
Chris's overview
Optional·2 min read
The main draw here is the easy £125 switch bonus – you complete the switch and meet simple criteria within 30 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: £1,500 deposit, 5 transactions, 2 Direct Debits. Miss a month? You can still qualify for the next ones – they're independent.
One more thing: if you were already with Co-op Bank, smile, Coventry Building Society, Godiva Mortgages or ITL Mortgages on 21 June 2026, you'll also get a £100 loyalty bonus in November 2026, taking your total to £300.
Pre-switch checklist
Optional·1 min check
Before starting a switch, check the existing current account you're switching from:
Plus:
1
Apply for Co-op account
You are here15 mins
- Use the button below to go to Co-op's switch offer page
- Select the Standard Current Account (no monthly fee)
- Choose 'Yes' to switch your existing account using CASS
- Enter your existing bank's sort code and account number
2
Pay in £1,5009d
5 mins
Switch completes in 9 calendar days.
- Deposit at least £1,500 into your new Co-op account
- Your salary counts towards this, or do a manual bank transfer
Complete within 30 days of switch
3
Make 5 transactions9d
5 mins
Switch completes in 9 calendar days.
- Make 5 or more payments using your Co-op debit card
- Contactless, online, or chip & PIN all count
- Any amount works – even a £1 coffee counts
Complete within 30 days of switch
4
Receive £125 cash+7d
2 mins
£125 paid within 7 days of meeting criteria
- Check your Co-op account for the £125 credit
- Keep Co-op as your main account, or switch it to your next bank switch offer
The £125 main bonus is now complete. Steps 5-11 are optional if you want to earn an extra £75.
Optional
5
Month 1 — Pay in £1,500+30d
5 mins
Month 1 begins after receiving your £125
- Month 1 starts the day after your £125 payment is received
- Deposit at least £1,500 into your Co-op account (fresh deposit each month)
Skip steps 5-11 if you just want the £125 and plan to switch to your next offer
6
Month 1 — Make 5 transactions+30d
5 mins
Month 1 runs for 30 days from £125 payment
- Make 5 or more payments using your Co-op debit card this month
- £25 paid within 7 days of the month ending
Keep 2 Direct Debits active
1 min
- Your Direct Debits should have moved over automatically with the switch
- Keep this going every month that you're continuing with this offer
7
Month 2 — Pay in £1,500+60d
5 mins
Month 2 begins 30 days after Month 1
- Month 2 runs from the same calendar date as Month 1
- Deposit at least £1,500 into your Co-op account
Missed Month 1? You can still qualify for Month 2 and Month 3
8
Month 2 — Make 5 transactions+60d
5 mins
Month 2 runs for 30 days
- Make 5 or more payments using your Co-op debit card
- £25 paid within 7 days of the month ending
9
Month 3 — Pay in £1,500+90d
5 mins
Month 3 begins 60 days after Month 1
- Final month of the stay incentive
- Deposit at least £1,500 into your Co-op account
10
Month 3 — Make 5 transactions+90d
5 mins
Month 3 runs for 30 days
- Make 5 or more payments using your Co-op debit card
- £25 paid within 7 days of the month ending
11
Receive £75 cash+7d
2 mins
£75 stay bonus paid within 7 days of completing Month 3
- Check your Co-op account for the £75 total from stay bonuses
- Combined with the £125 switch bonus, you'll have earned £200 from Co-op
Offer Complete
Finished? Tick off each step above to view and track your total profit.
Quick The Co-operative Bank Review
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 at a glance
Updated:
Ethical banking with a switch reward attached. Quidsy has the Co-op Regular Saver live right now, paying out £49 profit on monthly deposits over 12 months. Best suited if you want your money sitting somewhere with a customer-led ethical policy. Eligibility is tied to holding a Co-op current account first.
Customers
2.5m
UK accounts
Founded
1872
154 years old
App Store
4.8 ★
85k reviews
Google Play
4.6 ★
53k reviews
If you care about where your money sleeps at night, The Co-operative Bank is one of the few UK high street banks where the ethical position isn't just marketing. The customer-led policy is genuinely binding on what they will and won't lend against, and that's the main reason to choose them as a long-term home for your current account or savings.
Beyond ethics, the proposition is more "solid and free" than "market-leading on rates". The Current Account has no monthly fee, the mobile app does the job, and the Regular Saver has been one of the more competitive on the market when it's open to new applications. They also run periodic switch offers, which are a low-risk way to test the bank.
The two things to know going in: branch coverage is light, and any past worries about the 2013 capital crisis are now contained inside Coventry Building Society after the January 2025 takeover, with separate FSCS cover preserved. For ethically-minded switchers, easy yes. For best-in-class everything, look elsewhere.
The Co-operative Bank p.l.c. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No: 121885). Eligible deposits with The Co-operative Bank are protected up to £120,000 per person by the Financial Services Compensation Scheme (FSCS).