The Co-Operative Bank introduces £100 current account switching offer with £25 charity donation
The Co-operative Bank today announces the launch of a current account switching offer allowing customers to earn £100 and make a £25 donation to a leading charity of their choice.
Customers who take advantage of the offer by opening a new current account will enjoy the bank’s award wining service and access to the bank’s range of preferential products for existing customers*.
In line with the bank’s ethical approach, when a customer switches their current account a £25 donation will be made to one of seven leading charities of the customer’s choice. The charities include Action Aid, Amnesty International, the Carers Trust, Help the Hospices, Oxfam, Water Aid and the Woodland Trust.
Steve Britain, commercial director at The Co-operative Bank, said: “We know we have a lot to do to restore trust in our business but with our capital position strengthened, we are able to begin to talk to customers again about the products and services we can offer them.
“This offer gives new customers the opportunity to enjoy the same benefits as our existing customers including award winning levels of service, an ethical approach and preferential rates. In addition customers will be able to reward a charity of their choice with a £25 donation when they switch.”
New customers can expect to receive the high levels of service which consistently rank the Bank amongst the best in the industry. It was rated the best high street bank in the latest UK Customer Satisfaction Index (UKCSI), a national measure of customer service published every six months by the Institute of Customer Service.
The Co-operative Bank remains the only high street bank with a clear ethical policy based on the views of customers. Last year, the bank took this a step further by embedding co-operative values into its constitution, and will consult with customers on the policy in Spring 2014.
Steve added: “We plan to introduce a range of customer focused initiatives for both existing and new customers and build on our reputation for good customer service. This, along with the values embedded in the bank, provide us with a real opportunity to talk to customers again and give them a reason to switch.”
To qualify for the switching offer, new customers must open a Co-operative Bank standard current account, current account plus or smile current account and credit £800 within 31 days. Existing current account customers will also be eligible if they do not currently credit £800 per month and complete a switch and credit £800 within 31 days.
Dean Anderson, head of major donors at Amnesty International, said: “We’re really pleased that the bank has chosen to include charities as part of this offer to customers. It has a long history of supporting charities and here at Amnesty International we’ve developed a strong relationship with the bank.”
The relationship offers for current account customers include:
– A Fixed Rate ISA of up to 2.20% AER;
– a 1% reduction in APR for holders of its Relationship Clear card at 11.9%
APR for all transactions (purchases, balance transfers and cash withdrawals);
and
– a personal loan rate from 5.5% APR on loans between £7,500 and £14,950.
