Everyday Extra
Switching bonus from The Co-operative Bank
Bonus
£300
Penny's take
Decent ongoing value, but most switchers cap at £200. The £12 monthly fee is offset by a genuinely useful bundle — RAC breakdown, worldwide family travel insurance and family mobile cover together would cost considerably more standalone — making this worthwhile for households that would buy those anyway. The switch bonus adds a reasonable upfront boost, provided you can meet three consecutive months of £1,500 pay-ins and active Direct Debits.
The £300 headline figure is misleading for most people: only pre-existing Co-op or partner-institution customers qualify for the full amount, so expect £200 in practice. That still represents fair value if the insurance bundle suits your household, but pure bonus-hunters will find better returns elsewhere with no monthly fee to absorb.
Requirements at a glance
Deposit requirement
Direct Debits
Transactions
Monthly fee
Online Banking
How to qualify
Requirements
- •Complete a full Current Account Switch Service (CASS) switch within 8 weeks.
- •To earn £125 – Within 30 days of the switch: pay in £1,500, have 2 active Direct Debits, make 5 card payments and register for online or mobile banking.
- •To earn the extra £75, repeat the £1,500 pay-in, 2 Direct Debits and 5 card payments each month for up to 3 months.
Things to check
- Most switchers can earn up to £200. The full £300 is only for eligible existing Co-op, smile, Coventry BS, Godiva or ITL customers on 21 June 2026 who also complete this switch.
- Existing customers still need to switch another bank account—the £100 is not automatic.
- A full CASS switch closes your old account; keep the Co-op account open until payment.
- Everyday Extra costs £12 a month; insurance limits and exclusions apply.
Account Benefits
Worldwide family travel insurance
AXA worldwide cover includes winter sports and no claim excess for eligible trips, subject to age, family and medical rules.
UK and European breakdown cover
RAC personal cover includes roadside help, home start, recovery, onward travel and European assistance.
Family mobile phone insurance
Eligible household phones are covered worldwide up to £1,500 for loss, theft, damage or breakdown, with a £75 excess.
Fee-free debit card abroad
The bank charges no currency-conversion or cash-withdrawal fee abroad; Visa rates and third-party charges may apply.
Exclusive savings access
Everyday Extra holders can separately apply for exclusive current-account-holder savings products.