£100 cash to switch and an extra £75 to stay.
The Co-operative Bank is doing things a little differently in the bank switching space by offering two different rewards. Users can receive additional rewards for each month they actively use their new account.
You'll get £100 when you switch to The Co-operative Bank and hit the opening conditions, then a further £75 (split into £25 stages) over the next three months.
This offer does require some extra work but we think it's still a very solid offer.
This offer could expire at any time. The end date has not been disclosed by The Co-operative Bank.
The link below will take you to The Co-operative Bank website.
How To Get The Bank Bonus From The Co-operative Bank
- Complete a full switch via CASS from your old bank
- Ensure your old account is closed within 8 weeks of switching
Then do ALL of this within 30 days of opening the account:
- Deposit at least £1,000
- Have two Direct Debits active on your account
- Make at least 10 debit card payments with your new card
- Register for online or mobile banking
The £100 will be paid within 7 days of meeting all of these conditions.
Complete these extra steps every month, for three months to get the additional £75 bonus:
- Make at least 10 debit card transactions
- Pay out two Direct Debits
- Deposit at least £1,000
Remember, you must complete these steps every month for three months to get the £75. We recommend setting a reminder on your phone & putting it on your calendar.
The additional £75 is apparently paid in £25 increments within 7 days of each 'qualifying month' ending.
As a reminder, you can Set Up 30p Direct Debits using our site, and you can also fulfil the required card transactions using our Cheap Card Payments service.
What Accounts Are Eligible:
This offer is open for both new and existing Standard (or Everyday Extra) current accounts.
How long does it take to get the switch bonus from The Co-operative Bank?
The initial £100 is usually paid within 7 days of meeting all of the qualifying criteria. The additional £75 is split into 3 parts (£25) which is paid every month within 7 days of meeting that months qualifying criteria, until the maximum of £75 has been claimed.
