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The Co-operative Bank: Business Account reviews

Name: Business Account
Rating: 1.31 (78 reviews)

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1.24

Based on 78 reviews, last reviewed 6th Sep 2024

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

87%

Latest highest rating:

5

club and charity account they dont take off big amounts fir charges etc, they support local causes and groups, they are extremley helpful and friendly in branch and online ev... Read more Reviewed on: 31st January 2023

Latest lowest rating:

1

AVOID THIS BANK LIKE THE PLAGUE The co op withheld my business account from me for A MONTH, caused my business to loose money, customers, caused me no end of stress, made me later wi... Read more Reviewed on: 6th September 2024

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The Co-operative Bank business banking reviews at Smart Money People are helping other business people to fund out what being a business banking customer at The Co-operative Bank is really like. With business banking and aspects such as access to finance being so important to many business owners, Smart Money People is becoming the UK's leading source of The Co-operative Bank business banking reviews. Remember that you can write yours too, and join our mission to increase trust and transparency in financial services.

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The Co-operative Bank Business Account reviews (78)

Shockingly awful

I appreciate it is hard to get partnership accounts with banks and I would always prefer a more ethical bank, but the coop business account is awful in almost every way. Online banking is difficult to access, not very user friendly, it takes ages to set up to payees (something you need to do all the time when running a business) and its app is very limited. It takes forever with awful music. The only thing in it's favour is that it is free to use. Reviewed on: 8th April 2023

Dont Do it!

Honestly i persevere for ethical reasons, which is fine on a personal account, but you cannot run a business on this antiquated system - no advance D/d notices. Downloading statements is by week not month (try doing 12 months) you cannot even use the phone app to transfer between the current account and the savings account - ITS SO BAD. Reviewed on: 31st March 2023

club and charity account

they dont take off big amounts fir charges etc, they support local causes and groups, they are extremley helpful and friendly in branch and online even when we go in with a whole load of collection box change. Reviewed on: 31st January 2023

£909.87 missing from our business account.

£909.87 missing from our business account. Staff member working from home and has limited resources. Claims it will take 25 working days to investigate, which is over a month. Manager Colin refuses to come onto the phone from the office. On the phone for over 2h 6min and counting!!! Reviewed on: 5th January 2023

Such a Shame

It's such a shame. I wanted to bank with co-op for ethical reasons but it's just not worth the hassle. Their systems are archaic, inefficient and slow. Customer services is under resourced and have very little power to help with issues as they're restricted by the inefficient systems in place. The simplest of things takes forever, every time you try and contact them you're on hold for ages and very little is resolved. I just don't have the time, they're slowing down the effective running of my business so sadly I will be taking my custom elsewhere. This is my second time trying business banking with co-op, I convinced myself to give them another go and immediately regretted it. Reviewed on: 7th October 2022

Dark ages

I foolishly moved to the Coop for the free business banking, but the app is shockingly bad. Don't try and look for transactions over 1 month old - not in the app. Don't try and set up a new transfer...and when you manage that, don't expect to be able to transfer any money to it for hours / days whilst it is checked. And please, don't try and call the bank unless you are in working hours and have hours to spare. Not been with them a year yet and transferring out to a proper bank. Reviewed on: 3rd September 2022

Utterly useless

If you enjoy waiting on hold for 30 minutes each time you need to contact them because their other methods are useless, this may be the bank for you. Add that to some of the rudest stuff I’ve met and the bad service then overall this was a bank that after years of being with I am no longer. Sadly they are not ethical or intelligent. Reviewed on: 19th August 2022

Not crypto friendly

They assume all crypto transactions are fraud A trillion dollar industry just dismissed as fraud And they won’t allow their customers to participate in investing in crypto Yes that’s right, they refuse to allow you to spend your own money on something legal and freely available to the customers of other uk banks Reviewed on: 29th July 2022

Antiquated

I used Co Operative business banking because it was free through the FSB. However I've now moved to a business bank that charges a fee, it's just not worth getting something for nothing if it's not fit for purpose. The website and the app are clunky, lacking vital features and way too slow. If I want to pay for something online using my business bank card, it asks for a pass code that I never set up in the first place. Trying to contact customer services is a joke. Even closing the account is a nightmare. I sent the paperwork to them 9 weeks ago, it's still not closed. The Co Op is so antique that platforms like Free Agent don't even recognise them. Reviewed on: 14th July 2022

A bit of a joke

I use the Co-op because as FSB member I can get an overdraft without a setup fee. Recently I needed an increase in the overdraft facility and having filled out forms and listed all the partners' assets and attached recent accounts I eventually got the reply that our "turnover of the business would not support an overdraft of the requested size" which would clearly be nonsense to anyone who had studied our accounts. I questioned this and sent budget figures and our own accounts and got a reply saying "We have carefully reviewed the extra information you sent to us and unfortunately, we are unable to accept your application." They won't reveal what their criteria for lending are but say "I can log this as a complaint for you, although it will not be upheld as we have acted in line with bank policy" which I have to take on trust as they won't reveal what their policy is. Aaaaaaaargh! They also updated their app and website in March and neither now shows who payments are to and from. They have known about this since then but have still not sorted it at the end of June! I have to question whether the fee-free overdraft is worth the hassle of dealing with this incompetent shower. Reviewed on: 29th June 2022

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