The Co-operative Bank has launched a seasonal incentive designed to attract new customers while supporting a vital cause. The bank is providing a cash bonus of up to £175 to individuals who switch their main current account to the ethical lender.
How the Festive Cash Bonus Works
This promotional offer is structured as a series of monthly payments. To receive the full amount, new customers must complete a full switch using the Current Account Switch Service (CASS), which automatically closes their old account and moves all payments across.
Once the switch is finalised, customers must deposit at least £1,000 into their new Co-operative Bank account within the first 30 days. They also need to set up a minimum of two active Direct Debits.
The £175 bonus is paid in three instalments of £25 each month, provided customers meet ongoing criteria. Each month, account holders must also make at least 10 debit card payments, which can include contactless or digital wallet transactions. Registration for the bank's online or mobile banking services is also mandatory to qualify.
A Charitable Partnership with Centrepoint
Beyond the personal financial incentive, this promotion has a significant charitable angle. The Co-operative Bank has partnered with Centrepoint, the UK's leading youth homelessness charity.
The bank estimates that for every six current account switches completed under this offer, enough funds could be generated to provide a warm bed for a homeless young person on Christmas Day. This ties the customer's switch directly to supporting vulnerable youths during the winter months.
Is This Switch Offer Right For You?
This offer, announced in early December 2025, is clearly timed for the festive period. It presents a compelling proposition for consumers considering a move to an ethically-focused bank.
Prospective switchers should carefully review the terms, ensuring they can consistently meet the monthly debit card spending requirement to secure all three payments. The combination of a substantial cash incentive and social impact makes this a distinctive offer in the competitive current account market.
