Co-operative Bank launches £175 bonus offer for customers with this type of account

Co-operative Bank customers can bag £175 in extra perks in a new deal launched by the group. The bank has launched a new offer for people switching to a current account with them. The freebies are on offer both to new customers when switching to open a qualifying current account, or for existing customers switching to an existing account with the group.

You can get an £100 payment for switch over and then three payments of £25, over three months, if your complete certain account actions. New customers can get the funds when opening a Standard Current Account or Everyday Extra account.

You will need to request the switch either as part of your application to open the account, or once you have opened the account, you will need to apply for the switch within two weeks of opening the account. Existing customers will qualify when switching to either a Standard Current Account, Privilege, Privilege Premier, Current Account Plus or Everyday Extra Account.

To get the £100 payment, you need to complete four steps within 30 days of completing your switch:

• Pay in £1,000 or more into your account
• Have two or more active Direct Debits set up
• Carry out 10 or more card transactions
• Register for the Co-operative Bank's online banking services or mobile app.

You will get the £100 switch payment within seven days of meeting all these criteria.

Similarly, to get the subsequent £25 a month payments for the three months, you need to each month:

• Deposit £1,000 or more
• Make 10 or more card or digital wallet transactions
• Have two or more direct debits active.

Your three months will begin on the day after you receive your £100 switch payment. The month will run to the same date of the following month, with months two and three beginning the day after this.

For example, if you received your £100 payment on October 16, the qualifying dates for your three months would run as follows:

• Month 1: October 17 to November 18
• Month 2: November 17 to December 18
• Month 3: December 17 to January 18.