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New Current Account Plus From The Co-operative

The Co-operative Bank, voted number one on the high street for customer satisfaction levels in two recent consumer surveys from Watchdog and Which?, is today (Monday 21 April 2008) launching a new Current Account Plus with a linked savings account.

The details of this new unique current account are as follows:

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• An automatic instant access linked savings account available with every Current Account Plus
• One clear and simple rate - interest on the linked savings account tracks 0.5% below the Bank of England Base Rate and is guaranteed for life
• Automatic fee-free £200 overdraft facility
• A dedicated service for customers wanting to switch

This new current account offers an excellent choice for customers whether they are opening a bank account for the first time, looking for an account which takes the hassle out of saving, or simply wishing to switch from another provider.

Also, unlike many other current accounts in the market, the new Current Account Plus has no complicated caveats attached to the rate on the linked savings account, so the rate is guaranteed for life, as long as the customer has a Current Account Plus.

To open and maintain a Current Account Plus, customers must pay in a minimum of £1,000 per month.

John Hughes, Director of Retail Banking at The Co-operative Bank said: "Our new current account not only offers customers a very competitive rate on the linked savings account which is guaranteed for life, but also provides customers with a very high standard of customer service from the bank recently voted number one on the high street for customer satisfaction by Watchdog and Which?".

"At The Co-operative Bank we are committed to developing long-term relationships with our customers, and by listening to their financial needs we have created a new current account that meets all their requirements - a traditional account with automatic linked savings facility, one clear and simple rate, and a fee free overdraft of £200, all from a provider they can trust."

In addition to offering a comprehensive range of current account products, The Co-operative Bank also donates 1.25p for every £100 customers spend on their debit card to the 'Customers Who Care' campaign fund. Since the launch of 'Customers Who Care' in 1994, The Co-operative Bank has campaigned for change on a wide range of issues relating to its customer-led Ethical Policy and donated more than £4 million to over 80 charities and organisations. The current campaign is defending human rights inconjunction with Amnesty International, with previous campaigns helping to address the banning of landmines, third world debt and climate change.

John Hughes continued: "By simply opening a new Current Account Plus with The Co-perative Bank customers are automatically taking a proactive stance in corporate social responsibility policies underpinned by the bank's customer-led ethical policy without having to lift a finger."    

The Co-operative Bank is currently the only financial provider to give its customer a say in who it will and will not do business with; since the bank's Ethical Policy launch in 1992 it has turned away £700 million worth of business on ethical and environmental grounds.

Find out more:

• Compare Current Accounts
• Current Accounts Guide