Switching your current account from your existing bank or building society is super easy.
All your Direct Debits, standing orders, and bill payments will be automatically transferred.
Any payments into your old account will be redirected to your new account.
If anything does go wrong, we guarantee to sort it out for you and cover any losses you might incur. This is covered in the Current Account Switch Guarantee.
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee:
The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
If there are any issues in making the switch, we will contact you before your switch date.
If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
For more information go to www.currentaccountswitch.co.uk
It takes 7 working days to complete the switch over. During that period, you'll be able to use your new account as you would normally.
If you choose a partial switch, not a full switch, we won’t cover you for any potential financial loss.
If you keep your old account open, we won't cover the costs of any missed payments.
If an overdraft forms part of your decision to switch your account to us, please wait for confirmation that this is in place at the level required before you proceed with a switch to us (as approval for the overdraft is based on a credit check and assessment of your personal circumstances).
You can still switch your account if you're overdrawn, but overdrawn balances are not transferred as part of a switch.
You have the option to pay off any overdrawn balance including any fees or charges on your old bank by using available funds with us or an arranged overdraft. (Your Old Bank will be able to advise of the best way to pay off any overdrawn balance with them).
Especially people who often transfer funds to your account, like your employer.
It is important to share your new account details with anyone who is intending to set up a new payment after your old account has been closed. Following the introduction of Confirmation of Payee, customers of other banks who attempt to set up a new payment after your account has switched may be prevented from doing this and will need to use your new Co-operative Bank account number and sort code. Anyone who has payments already set up to your old account, can continue to use these details and the funds will be transferred to your new Co-operative Bank account as part of the switching process.
Then you won't have to scramble to find your debit card when you're trying to make last‑minute purchases online.
We allow you to give TPPs (such as financial comparison websites, money management apps and payment services) the ability to make payments on your behalf, and to access your financial data.
If you could do this with your old account, there are a couple of simple things you’ll need to do once you switch to us.
Please note: we only allow access to TPPs that are authorised by law to provide their services, so there’s a chance that your current TPP may not be supported to access Co-operative Bank accounts. Our terms and conditions provide more information about TPPs.
Your eligible deposits with The Co-operative Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.