Co-operative Bank offers £175 bonuses to customers with any of these 5 accounts

Both new and existing customers can get the free cash from Co-operative Bank

Co-operative Bank customers can get £175 in free cash. The offer is available to those who switch to a current account with the group, with the offer open to both newcomers and existing customers. The perks include an initial £100 payment for switching over, followed by three monthly payments of £25, provided certain account actions are completed.

These benefits are available to new customers who opening a Standard Current Account or Everyday Extra account. You must request the switch either during your application to open the account, or within two weeks of opening the account.

Existing customers with either a Standard Current Account, Privilege, Privilege Premier, Current Account Plus or Everyday Extra Account can also qualify for the extra perks, when switching from another provider.

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.

To then get the £25 a month payments for the three months, you need to complete these steps each month:

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

The 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.

As an example, how this would work if you received your £100 payment on October 16 would be like this:

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