Co-op - Earn £175 when you switch a current account 🔥
The previous bank switching promotion is no longer available.
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Free Money — Bank Switching — Co-op
Switch to a Co-operative Bank account and get up to £175 in bonuses — £100 upfront, plus £75 for staying active!
To claim the £175 bonus:
Sign up here - you must not have received a Co-op switch bonus since 1 November 2022. Open a Standard or Everyday Extra account here, and request a full switch via CASS within 2 weeks.
Within 30 days of your switch, you’ll need to: deposit £1,000, set up 2 Direct Debits, make 10+ transactions, and register for online banking.
You’ll get £100 within 7 days of meeting these steps.
Then, keep up the same activity for the next 3 months to earn an extra £75 — paid as £25 per month.
👉 [Join the discussion for this offer here]
👉 [See our full guide on switching banks and setting up simple direct debits]
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👉 [Need to see the T&Cs for this offer? Click here]
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FAQ’s
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Yes — money held with The Co-operative Bank is generally safe and protected.
Covered by the Financial Services Compensation Scheme (FSCS)
Protection up to £85,000–£120,000 depending on structure
Regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)
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The Co-operative Bank operates alongside:
Smile Bank (its digital-only brand)
Important:
These share the same banking licence
FSCS protection is combined across both brands
So your £85k–£120k protection is shared between Co-op and Smile accounts.
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The Co-operative Bank regularly runs switch offers (e.g. up to £175 in 2026).
Typical requirements include:
Open a new current account
Use the Current Account Switch Service (CASS)
Complete a full switch (old account closed)
Deposit at least £1,000
Have at least 2 active direct debits
Make 10+ debit card payments
Register for online/mobile banking
If you meet all criteria, bonuses are often paid within about 7 days of qualifying
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You usually need at least 2 active direct debits.
Examples that count:
Council tax
Energy bills
Insurance payments
Credit card repayments
Charity donations (£1/month works)
Follow our guide for setting up simple direct debits here.
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Phone (UK): 03457 212 212
App & online banking
Address: Use one of their branches to speak to someone in person.
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