The Co-operative Bank Business Account Review

Reasons to trust The Co-operative Bank

Strong, customer-led ethical commitments and policies
Fully regulated UK bank with FSCS protection
Rated ‘Excellent’ by customers on Trustpilot

Whether you’re a startup or more established, The Co-operative Bank has a business bank account for you. Some accounts have no monthly fees, while others have a regular charge but could save you money on transactions. With free or discounted tech for invoicing and payments, plus free accounting software integration, a Co-op Bank business account could help streamline your business’s finances. There’s also an account for charities and community groups, which charges minimal fees to eligible organisations. The Co-operative Bank’s ethical and sustainable practices underpin all the other account benefits.

» COMPARE: Best business bank accounts

Monthly Fee
Free

UK Card Purchase Fees
Free

UK Bank Transfer Fees
Free

Offer
Get up to £200 welcome bonus*

Eligibility Criteria

Must be aged 18 or over
Must be a UK resident with a business address in the UK
Available to Limited Companies, Sole Traders, Partnerships or Limited Liability Partnerships; up to 10 key individuals

NerdWallet's Review Summary

There is a lot to like about The Co-Operative Bank for start-ups and growing businesses. The bank offers free access to online guidance resources, a range of third party support services, access to insurance through AXA, and more. The bank also places ethics at the forefront of its mission, so it may appeal strongly to socially conscious business owners.

The Co-operative Bank key features:

FSCS protection: Your eligible deposits, up to £120,000 across all of your accounts, are protected by the Financial Services Compensation Scheme (FSCS).
Borrowing: Account holders can access borrowing through an overdraft, a charge card for expenses, a credit card, or a variable rate business loan (subject to status).
Account management: Manage your money online, over the phone, via the app (mobile banking subject to eligibility) or in a branch

NerdWallet's Pros & Cons

Pros:

No monthly fee and no fees for basic transactions.
Various ways to manage your account.
You can apply for a business overdraft, credit card, charge card and loan (subject to status).

Cons:

There are no branches in Northern Ireland.

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This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.

Key features

Sole traders, limited companies, LLPs and charities
The Co-op offers accounts to most business types, including sole traders, limited companies, limited liability partnerships, charities, credit unions and co-operatives.
Free invoicing software
Accounts include access to Go Get Paid, an app which aims to simplify managing payments and invoicing customers.
Overdraft and credit facilities
With your Co-operative Bank business account, you may be able to access overdraft, credit card and business loan facilities.
Point of sale
Account holders get access to extensive point of sale offering from Clover for just £1 per month for their first year.
Integrate accounting software
Avoid tax headaches and bookkeeping struggles by integrating accounting software from QuickBooks, Xero or Sage.
FSCS protection
Eligible deposits, of up to £120,000 across all accounts, are protected by the Financial Services Compensation Scheme (FSCS).

The pros and cons featured here are chosen by us based on a combination of our expert, research-based opinions and an exclusive survey of UK business owners and decision makers. The survey was conducted on behalf of NerdWallet UK in December 2022 to identify the business bank account features that people feel are most important. This was subsequently reinforced by an additional survey in 2024. They are unlikely to be the only product features and restrictions that you should consider. Pros and cons are subjective and you should align them to your own personal and business circumstances. Information was correct at the time of publication but may have changed since.

The Co-operative Bank business account full review

Founded in 1872, The Co-operative Bank aims to be sustainable and promote ethical values. The bank incorporates the principles of Environmental, Social and Governance (ESG) in its business and launched an Ethical Policy in 1992.

The Co-operative Bank has a range of business accounts available that cater for different kinds of businesses.

All accounts come with free accounting software integration, free invoicing app Go Get Paid, and a choice of how you bank, whether that’s online, in a branch, over the phone or via the mobile app.

Business Bank Account

Aimed at startups and smaller businesses that like to bank online, the Co-op Business Bank Account has no monthly fee.

It also allows unlimited free basic transactions (direct debits, faster payments, debit card purchases, and ATM cash withdrawals (though some ATMs may charge their own fees), among other services. Cheque deposits attract a £1.50 fee, while cash deposits are charged at £1.50 per £100.

Business Bank Account Plus

Designed primarily for businesses that are more established or looking to grow, Business Bank Account Plus is similar to the ‘non-Plus’ option, but includes access to other features, such as an interest-paying savings account.

Another difference is a £10 monthly fee, though in return the charge for cheque deposit drops to 75p, as does the per £100 charge on cash deposits. If you want, and qualify for, an overdraft, the arrangement fee is waived too.

Business Directplus

Available to businesses of all sizes, the Business Directplus account does not charge a monthly account fee for the first 30 months it is open, as long as your balance stays above £1,000. After 30 months have elapsed, or if your balance dips below £1,000, the account costs £7 a month.

Up to £1,000 in cash and 25 cheques can be deposited each month for free, with charge starting to apply after an allowance has been used.

Federation of Small Businesses (FSB) Account

Co-op’s FSB business banking account is only available to Federation of Small Businesses members. It has no monthly service fee and offers free basic transactions, cheque deposits and cash deposits up to £1,000 per charging period. Cash deposits beyond this limit are charged at 80p per £100.

Charity and Community Bank Account

The Charity and Community Bank Account is for registered charities, co-operative or community benefit societies, credit unions and community-interest companies.

There is no monthly fee and free everyday banking, including automated credit and debits, cash and cheque deposits, and cash withdrawals.

However, you cannot exceed the following annual account limits:

deposit more than 5,000 cheques
credit turnover of more than £2 million
deposit more than £100,000 in cash

The Co-operative Bank business account features: at a glance

	Business Bank Account	Business Directplus Account
Monthly fee	Free	Free for first 30 months (if balance remains above £1,000), then £7 a month
Basic transaction fees	No	If balance is over £1,000, outbound transactions are free for first 30 months, 35p each after 30 months, or 70p if balance drops below £1,000 at any time.
Account management	Online, over the phone, in a branch and via the mobile app	Online, over the phone, in a branch and via the mobile app
FSCS protection	Yes	Yes
Set-up time	On average 5 business days	On average 5 business days
Cash deposits	Yes (£1.50 per £100)	Yes (£1,000 free a month, then 80p per £100)
Cheque deposits	Yes (£1.50 per cheque)	Yes (25 free a month, then 75p per cheque)
Access to other banking services	Yes (overdraft, charge cards, credit cards, loans)	Yes (overdraft, charge cards, credit cards, loans)
International payments	Yes	Yes
Customer service	03457 213 213 (8am to 6pm Monday to Friday, 9am to 12pm Saturday)	03457 213 213 (8am to 6pm Monday to Friday, 9am to 12pm Saturday)
Multiple user access	Yes	Yes
Create and send invoices	Yes (Go Get Paid app)	Yes (Go Get Paid app)
Integration with accounting software tools	Yes	Yes

The Co-operative Bank business account pros and cons

Where The Co-op business account stands out

Free options: The Business Bank Account, FSB Account, and Charity and Community Bank Account all have no monthly fees.

Account perks: You may be able to access merchant services with Clover, sustainability measurement resources from Zellar, tailored business insurance from AXA, and invoicing services with the Go Get Paid app.

FSCS protection: Eligible deposits, up to £120,000 across all of your accounts, are protected by the Financial Services Compensation Scheme (FSCS).

Access to overdraft and credit facilities: With a Co-op business account, you can apply for an arranged overdraft, a charge card for expenses, a credit card, and a variable rate business loan.
Ethical banking: The Co-operative Bank has a customer-led ethics policy, which includes commitments to tackling climate change and creating fairer communities.

Where The Co-op business account falls short

Access: The Co-op Bank has no branches in Northern Ireland.

See our other business bank account reviews

The Co-operative Bank business account customer reviews

On Trustpilot, Co-op has an ‘Excellent’ rating of 4.6 out of 5, based on over 16,000 reviews. Note that these reviews are from The Co-operative Bank customers overall, not just the bank’s business customers.

For its dedicated business banking app, meanwhile, Co-op has received the following reviews:

App Store: 4.7 out of 5, based on over 1,700 reviews
Google Play: 4.4 out of 5, based on over 700 reviews

This information is correct as of 27 February 2026.

The Co-operative Bank business account eligibility

To get a business account from The Co-operative Bank, you will, at minimum, need to meet the following criteria:

Be aged at least 18 years or over.
Live in the UK and have a UK business address.
You won’t have any County Court Judgments (CCJs) or Individual Voluntary Arrangements (IVAs) from the last six years.
You won’t have missed any payments on your personal credit file over the last six months.

The Co-operative Bank business account you select will then have its own set of eligibility requirements:

Business Bank Account: Your business must operate as a sole trader, partnership, limited liability partnership, or limited company.
Business Bank Account Plus: Your business must operate as a sole trader, partnership, limited liability partnership, or limited company.
Business Directplus: Your business must operate as a sole trader, partnership, limited liability partnership, or limited company.
FSB Account: You need to be a member of the Federation of Small Businesses, and be a sole trader, partnership, limited liability partnership or limited company.
Charity and Community Bank Account: You must be a registered charity, co-operative or community benefit society, credit union or community interest company. You also cannot have an annual credit turnover greater than £2 million, deposit more than £100,000 in cash a year, or deposit more than 5,000 cheques a year.

How to apply for The Co-operative Bank business account

To apply for a Co-op business account:

Click ‘See Deal’ at the top of this page to head straight over to The Co-op Bank website.
Apply directly with the provider – there’s nothing to fill in for us.
Submit your application and wait to hear back from The Co-operative Bank.