Newest Review: ... savings account with the Co-operative. I'm really impressed with the range of accounts available through Co-operative and the information ... more
The Cooperative Bank.
Member Name: archcourt
Advantages: Quick , easy, good fraud team, an avaliable account for everyone.
Disadvantages: Childrens accounts very difficult to open.
I have been a customer of The Cooperative Bank for about 6 years.
I have a current account , no cheque book, but I do have a debit card. I have no overdraft. These things are requirements that I requested.
Opening the account was really easy. I phoned a call centre where they took all of my details, did a quick credit check and my account was up and running in about 30 minutes.
As long as you run your account to your specifications The Coop are great, although beware if you go overdrawn without an agreement, as there is a nasty charge of £30.00.
Internet and telephone banking are both features of The Coop. I use both and they are very easy and quick to use.
The only down side of internet banking is that if you have pending payments from a card on your account, it dosnt show, so is not an uptodate balance really.
A great thing about the internet banking is that the fraud team are really on their toes. I had an experience where I accidently typed in the wrong amount for something I was trying to buy and it kept declining. Within 5 minutes of me continually trying to buy, the fraud team phoned me to check that it was me doing the ransaction and that someone else was not using my card. This really impressed me.
Phone banking is quick and easy, it usually only takes about 2-3 mins to get through.
The only disadvantage i have found with The Coop is when i tried to open an account for my children. I could not do that over the phone, instead i got alot of paperwork and needed it signing by a solicitor etc. I ended up not bothering as it was really in depth and difficult to do.
The Coop also takes on customers who have a bad credit record, which is also very useful for some people.
Summary: A very helpful Bank , easy to open adult accounts and easy to use internet and telephone banking.
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