Everyday Extra
Switching bonus from The Co-operative Bank
Bonus
£200
Penny's take
Decent bonus, but the fee shapes the real value. The £200 reward is split across four months of sustained activity — £1,500 monthly pay-ins, two Direct Debits and five card payments each time — making this medium-effort rather than a quick win. Previous Co-operative Bank incentive recipients since November 2022 are excluded.
The £12 monthly fee is the key consideration: at £144 a year, it only makes sense if you genuinely use the bundled RAC breakdown cover, worldwide family travel insurance and family mobile phone insurance. Regular travellers or families who'd otherwise pay separately for those perks will find the package competitive; light users probably won't.
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
- A full CASS switch closes your old account.
- Everyday Extra costs £12 a month; insurance limits and exclusions apply.
- This offer is not open to customers who have received a Co-operative Bank switch incentive since November 2022.
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.