The Co-operative Bank is offering new and existing customers up to £175
Bank customers are being enticed with up to £175 to switch current accounts – with the added bonus that their move could contribute towards a safe refuge night for a woman and her children fleeing abuse.
In a new initiative timed to coincide with International Women’s Day, The Co-operative Bank has partnered with long-term charity ally Refuge to reintroduce its switching deal. New and existing customers can pocket £100 once a full switch is finalised, followed by £25 monthly for three months – bringing the total reward to £175.
Switchers will also gain access to a Regular Saver offering 7.00% AER, one of the most competitive rates available. Customers can save up to £250 monthly, earning up to £113 in interest over a year.
The fine details
To be eligible for the £100 upfront payment, customers must within 30 days of completing a full switch:
- Deposit at least £1,000 (including balances transferred in).
- Maintain 2 active Direct Debits.
- Make at least 10 debit card or digital wallet transactions.
- Register for online and/or mobile banking.
New customers must apply for an eligible account whilst the offer is live and request a full switch within two weeks of opening it. Both new and existing customers must complete the full switch within eight weeks of requesting it.
To receive each of the three £25 monthly “stay” payments, customers must each month deposit at least £1,000, keep 2 active Direct Debits, and make 10 debit card or digital wallet transactions. The offer applies to Standard Current Account, Current Account Plus, Privilege, Privilege Premier and Everyday Extra accounts. Smile, Student and Cashminder accounts are not eligible. Customers must not have received a switching incentive from the bank since November 1 2022.
How the refuge funding operates
Throughout March, the bank will donate to Refuge for qualifying switches completed between March 2-31. It states that for every four customers who switch, it intends to fund a safe night in a refuge for a woman and her children fleeing abuse.
Hayley Lowell, Head of Current Accounts at The Co-operative Bank, said: “Everyone deserves to feel safe, and that belief is at the heart of what we’re doing this International Women’s Day. We’re working closely with Refuge to help women and their children find safety and begin rebuilding their lives.”
“And throughout March, for every four customers who switch to us, we’ll help fund a safe night for a woman and her children escaping abuse. So whilst new customers can receive up to £175 and access our highly competitive Regular Saver, their switch also helps someone else take an important step towards a safer future.
“It’s a simple yet powerful way for people to make a real difference whilst choosing a bank that shares their values.”
Paula Robinson, Head of Corporate Partnerships at Refuge, said: “No woman or child should be made to feel unsafe in their own home. For many survivors of domestic abuse, access to safe accommodation can be the lifeline that makes escaping possible.
“In 2024–2025 alone, we supported over 1,400 women and their children through our refuges, but our work is not done. With The Co-operative Bank’s support, even more survivors will be able to find the safety they need to rebuild their lives – free from fear.”
Refuge assists thousands of survivors daily and runs the National Domestic Abuse Helpline. According to the charity, more than one in four women across England and Wales will experience domestic abuse during their lifetime, with a woman killed by a current or former partner every five days on average.
