+£49
Regular Saver (7.0%)20 mins
The Co-operative BankRegular Saver (7.0%)
£49 Free Cash•20 mins
£49 Free Cash
+£49What 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.
You’ll need a Co-op current account to open this Regular Saver. If you don’t already have one, we’d recommend doing the Co-op bank switch first — you’ll pick up a switching bonus and get the current account you need in one step.
Launched
1872
Customers
2.5m+
Google Play
4.6 (53k)
★★★★★★
Key Terms
Profit
+£49
Interest rate
7% AER
(variable)
Monthly depositUp to £250
Term12 months
Total max deposit
£3,000
(12 × £250)
Withdrawal terms: Unlimited withdrawals with no restrictions. Any money withdrawn can’t be re-deposited that month.
Requires: An existing Co-op current account
Step by Step Guide
Chris's overview
Optional·2 min read
The Co-op Regular Saver pays 7% on up to £250 a month for 12 months. That’s around £49 more than you’d earn in a standard easy-access account on the same deposits.
You can withdraw whenever you want with no penalties. The 7% rate is variable, so it could change during the term.
You need a Co-op current account to open this. If you’ve already done the Co-op bank switch, you’re all set. If not, do that first — you’ll pick up the switching bonus too.
1
Open a Co-op Regular Saver
You are here10 mins
- Log in to your Co-op online banking or mobile app
- Navigate to Savings and select ‘Regular Saver’
- Open the account — you’ll need to make a minimum deposit of £1 within 30 days to activate it
- Your 12-month term starts from the date Co-op receives your first deposit
2
Make your first transfer
5 mins
- Transfer your chosen amount (up to £250) into your new Regular Saver
- This first deposit officially starts your 12-month term
- You can transfer from your Co-op current account or any other UK bank account
Transfer up to £250 each calendar month
2 min
- Deposits are per calendar month, so transfer early (ideally the 1st) to earn interest for the full month.
- Automate it: set up a standing order to your Regular Saver. If your salary arrives at the end of the month, schedule the order for the 1st of the month.
- Prefer doing it manually? Set a monthly reminder instead.
- You can deposit any amount from £1 to £250 per calendar month. Any overpayment above £250 will be returned.
3
Withdraw your balance365d
5 mins
Your 12-month term ends
- After 12 months, your balance plus all earned interest is paid into a Co-op Smart Saver account automatically
- The Smart Saver pays a lower variable rate — so move your money to the best available savings account
- Co-op will write to you before maturity with your options
- You can withdraw via online banking, mobile app, phone, or in branch
Offer Complete
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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).