Co-op - Earn £175 when you switch a current account 🔥

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Free Money — Bank Switching — Co-op

Time needed 15 minutes

Deposit £1,000

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:

1. 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.

2. 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.

3. You’ll get £100 within 7 days of meeting these steps.

4. 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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FAQ’s

• Is my money safe with the Co-operative Bank?

  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)

• Which banks are linked to the Co-operative Bank?

  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.

• How do I qualify for a Co-operative Bank switch bonus?

  The Co-operative Bank regularly runs switch offers (e.g. up to £175 in 2026).

  Typical requirements include:

  1. Open a new current account

  2. Use the Current Account Switch Service (CASS)

  3. Complete a full switch (old account closed)

  4. Deposit at least £1,000

  5. Have at least 2 active direct debits

  6. Make 10+ debit card payments

  7. Register for online/mobile banking

  If you meet all criteria, bonuses are often paid within about 7 days of qualifying

• What direct debits can I use for a Co-op switch bonus?

  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.

• How do I contact the Co-operative Bank?

  • Phone (UK): 03457 212 212

  • App & online banking

  • Address: Use one of their branches to speak to someone in person.