UK bank wants to give you free £175 | Personal Finance | Finance
Bank customers are being offered up to £175 to switch current accounts – with the added incentive that their move could help fund a safe night in a refuge for a woman and her children escaping abuse.
In a fresh push timed to mark International Women’s Day, The Co-operative Bank has teamed up with long-standing charity partner Refuge to relaunch its switching deal. New and existing customers can receive £100 once a full switch is completed, followed by £25 a month for three months – taking the total payout to £175.
Switchers will also gain access to a Regular Saver paying 7.00% AER, one of the most competitive rates on the market. Customers can save up to £250 a month, earning up to £113 in interest over a year.
The small print
To qualify for the £100 upfront payment, customers must within 30 days of completing a full switch:
- Deposit at least £1,000 (including balances transferred in)
- Have 2 active Direct Debits
- Make at least 10 debit card or digital wallet transactions
- Register for online and/or mobile banking
New customers must apply for an eligible account while the offer is live and request a full switch within two weeks of opening it. Both new and existing customers must complete the full switch within eight weeks of requesting it.
To receive each of the three £25 monthly “stay” payments, customers must in each month deposit at least £1,000, maintain 2 active Direct Debits, and make 10 debit card or digital wallet transactions.
The offer is open to Standard Current Account, Current Account Plus, Privilege, Privilege Premier and Everyday Extra accounts. Smile, Student and Cashminder accounts are excluded. Customers must not have received a switching incentive from the bank since November 1, 2022.
How the refuge funding works
Throughout March, the bank will make a donation to Refuge for eligible switches made between March 2-31. It says that for every four customers who switch, it aims to fund a safe night in a refuge for a woman and her children escaping abuse.
Hayley Lowell, Head of Current Accounts at The Co-operative Bank, said: “Everyone deserves to feel safe, and that belief is at the heart of what we’re doing this International Women’s Day. We’re working closely with Refuge to help women and their children find safety and begin rebuilding their lives.
“And throughout March, for every four customers who switch to us, we’ll help fund a safe night for a woman and her children escaping abuse. So while new customers can receive up to £175 and access our highly competitive Regular Saver, their switch also helps someone else take an important step towards a safer future.
“It’s a simple yet powerful way for people to make a real difference while choosing a bank that shares their values.”
Paula Robinson, Head of Corporate Partnerships at Refuge, said: “No woman or child should be made to feel unsafe in their own home. For many survivors of domestic abuse, access to safe accommodation can be the lifeline that makes escaping possible.
“In 2024–2025 alone, we supported over 1,400 women and their children through our refuges, but our work is not done. With The Co-operative Bank’s support, even more survivors will be able to find the safety they need to rebuild their lives – free from fear.”
Refuge supports thousands of survivors on any given day and operates the National Domestic Abuse Helpline. The charity says more than one in four women in England and Wales will experience domestic abuse in their lifetime, and on average every five days a woman is killed by a current or former partner.
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