Switch over to free benefits with The Co-operative Bank

September 22, 2010

The Co-operative Bank is offering customers complimentary access to its market leading Privilege and Privilege Premier Packaged Current Accounts for a 12-month period.

This equates to a subscription fee saving of up to £114 and access to a range of practical, usable benefits worth up to £600, including:

  • Worldwide travel insurance
  • Mobile phone insurance
  • Exclusive discounts on a range of financial products

Customers can also choose an additional benefit bundle, dependent upon their individual lifestyle needs, including Safeguard, which incorporates identity theft insurance and bag and contents insurance, Traveller, which provides airport lounge passes and lost passport and luggage recovery and Gadget, which protects portable devices and gadgets.

The offer is available to new and existing customers who use the bank’s dedicated switching team to make their Co-operative Bank current account their main bank account. Access to the offer requires a minimum monthly payment of £800 into the account.

John Hughes, Business Leader, Retail Products at The Co-operative Bank, said: “Over the last six months, we’ve experienced a surge in customers switching their current account from other major providers to us.

“This incentive has been launched to enable new and existing customers, to experience our market leading range of packaged current accounts, associated benefits and exemplary levels of customer service for themselves.

“We also recognise that switching current accounts can be a time consuming process, that’s where our dedicated switching team comes in, they’ll take care of everything, making it simple and hassle-free.”

Commenting on the offer, Andrew Hagger from Moneynet.co.uk, added: “It’s refreshing to see this long term ‘try before you buy’ approach being used and letting customers decide for themselves, rather than relying on short term cash incentives to tempt people to switch banks.  

“The latter can lead to people switching for the wrong reason and not for the underlying features of an account. The ability for customers to try out the benefits on offer free of charge for a full 12 months will give them a real opportunity to see if this is an account that will work for them in the longer term, and something they feel offers real value.”

The Co-operative Bank offers two packaged accounts, and customers will be offered complimentary access to the account that best fits with their individual banking requirements.  

Customers can take advantage of this incentive until 20 November 2010, by visiting their local Co-operative Bank or Britannia branch, by calling 08000 284 284 or online at www.co-operativebank.co.uk/feefree.

A full set of terms and conditions relating to the incentive are available upon request, please email nadia.kassas@cfs.coop for more information.


For further information please contact

Nadia Kassas
The Co-operative Financial Services Press Office
Tel: 0161 903 3822 / 07702 505 626
Email : nadia.kassas@cfs.coop   
Twitter: @CFSpressteam


Notes to editors:

ISDN facilities are available for broadcast media interviews.

For more information on The Co-operative Bank Current Accounts please visit www.co-operativebank.co.uk/currentaccounts


About The Co-operative Financial Services 

The Co-operative Financial Services (CFS) is part of The Co-operative Group, which is the world’s largest consumer co-operative with around five million members, over £14 billion turnover, and core business interests in financial services, food, travel, pharmacy and funeral care.  The Co-operative Group has over 5,000 retail trading outlets.

Following the merger with Britannia Building Society on 1 August 2009 CFS is one of the largest and well diversified mutual businesses operating in both retail and corporate markets.

As part of The Co-operative Group, the new business is characterised by its unique ethical and member reward policies and very high levels of customer advocacy.

The combined business has £70 billion in assets, 12,000 staff and nine million customers.  It has over 300 high street branches, 20 corporate banking centres and a major presence in Manchester, London, Leek, Plymouth, Skelmersdale and Stockport.  

It is the only mutual organisation that enables its members to earn financial rewards for the products they hold, as well as giving them the opportunity to have a say in how the business is run