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The Co-operative Bank: Business Account reviews

Name: Business Account
Rating: 1.31 (81 reviews)

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1.24

Based on 81 reviews, last reviewed 25th Nov 2024

No new 5 star reviews

in the past 90 days

100% increase in 1 star reviews

in the past 90 days

88%

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

Absolutely deplorable Absolutely deplorable. A serious business with 15 staff and world leading experts of many decades experience. A service business with no stock, credit... Read more Reviewed on: 25th November 2024

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About this product

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.

The Co-operative Bank Business Account reviews (81)

Review of the The Co-operative Bank, Business Account:

Absolutely deplorable

Absolutely deplorable. A serious business with 15 staff and world leading experts of many decades experience. A service business with no stock, credit or other risk. No one with any financial or other blemishes. I just get daft questions and constant "application denied" messages. Seems I am far from the only one. Evidently these people don't understand business, or cannot administrate competently. No earthly reason to reject this account (as per my accountants). Are they just data gatherers with no serious intention to open accounts? SHOCKING Reviewed on: 25th November 2024

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

Terrible customer service

Used to be good to deal with, now they really don't seem to care. Failed to put through my regular salary payment, then failed to pick up the phone after 45 minutes, when I called to see what had happened. I made a complaint online which they then took 2 months to respond to. The response was poorly written, without a signatory. It did not address the issues I'd raised and did not accept any responsibility for the error or poor service I'd received. Not what you expect from a major bank. Avoid. Reviewed on: 23rd May 2022

Worst business bank ever

Oh dear, only if they would answer the phone and not keep you on hold over 1 hour plus Reviewed on: 2nd May 2022

online banking unusably bad for business banking

The latest update has made the online banking unusably bad. As a business we pay everyone by BACS in batches of payments, the new interface is literally giving me RSI there is so much mouse clicking. Eg to select a payee I used to type the first 3 letters and it would autocomplete, now I have to go through 3 different screens with lots of mouse clicking to do what used to take literally 3 keystrokes. And to make 20 payments I have to select the account I am paying from 20 times over, where is the sense in that? And for half the payees it says "we think this is a scam" and make you jump through hoops to pay someone you've paid dozens of times before. Reviewed on: 12th April 2022

co-op telephone banking

I have found the staff helpful when I needed to speak to them.The problem is that to actually get to speak to them, you need to have an hour or more to waste.This banking service is the worst I have ever known. Reviewed on: 31st March 2022

Uncooperative bank

The App & banking platform is outdated. I have had worst ever Buisines banking experience. To be honest one star is too much, but there is no option for zero. This bank is not fit for purpose, you have to wait nearly two hours to talk to someone and still they can’t have answers to problems that the bank have created. Don’t go near this bank. Reviewed on: 30th March 2022

Two hours waiting for them to answer

Tried to make payments from my account but get to submit and I get internal server error. This goes on for two days. In the end I have to phone. Over two hours before I get through. Explain the problem only to be told yes we know about that. IT issue. Why not put that on the app etc. Reviewed on: 24th March 2022

destroyed a usable interface. Now not fit for purpose

waste of time after 10 years I really need to switch Reviewed on: 24th March 2022

Utterly usekess

DO NOT BANK WITH CO-OP. With them for over 10 years. During Covid, their customer service went awol. Gave up on them, switched personal account and 2 business accounts to new challenger banks. Filled in the forms to close the business accounts, weeks ago abs they still haven’t closed them and I’m receiving statements with service charges. Any contact them or resolve it as no one knows anything. Feels like a bank in terminal mode. Good riddance if so Reviewed on: 23rd March 2022

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