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The Co-operative Bank: Business Account reviews

1.24
Based on 78 reviews, last reviewed 6th Sep 2024
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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
Joanne Fearn's avatar
Joanne Fearn

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
Joe W's avatar
Joe W

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.

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The Co-operative Bank Business Account reviews (78)

Online Banking

1
I can honestly say I've never encountered such a disfunctional, illogical, user unfriendly website of any kind, anywhere, as the Co-op's online business current account. IT IS SHOCKING. I still have an old on-line account I set up over 20yrs ago with Intelligent Finance which is like something out of a technological time warp, but puts the Co-op effort to shame. Who actwdesigned this, have they ever tried using it??? Reviewed on: 9th October 2021

Absolute Joke of a bank

1
If you are a business owner, do not open an account with this shambles of bank. Constant problems with the online service (which I think was created at the same time as dial up internet), an inability to answer the phone within a 3 hour period and all in all a sub-standard service. Reviewed on: 17th September 2021

Never in a million years - this bank is stuck in the 1980s

1
You want to pay a bill, you set up the beneficiary using your "token" which BTW is so inconvenient to carry around a small calculator!!! then you're told you need to wait 24 hours as a cooling off period to pay the beneficiary! Yet I've used their secure token? Their app is even worse - you cannot make a transfer from a current to a deposit account. I moved from Natwest as there was a cash incentive. I really really wish I hadn't. It's 2021 seriously no facial recognition, their website is a screen scraped version of an old mainframe system it's dire. I've been with them for almost 10 months I'm done, I'm moving to a more forward thinking bank that actually has a website and app that doesn't take forever to make a simple payment, and one that doesn't make you carry around a calculator style pocket token! Sorry this is a rant but my goodness it's the most dated and awful website I've used in years! I HATE THIS BANK HATE HATE HATE Reviewed on: 12th September 2021

Horrific online business banking

1
MINUS INFINITY STARS. The finacle site is by far the worst customer-facing application I've ever used. It is completely illogical in its flow. It is impossible for me to cancel a standing order as according to the site, I don't have any. Yet it's being paid every month, despite the recipient asking me to cancel it. It logs me out randomly, telling me I've used the back button or I've been inactive - I've done neither - I am looking to find what I want from this hellish maze of a site. CoOp should be *ashamed* to have their name associated with this dumpster fire. I would never recommend a CoOp online product as a result. Reviewed on: 8th September 2021

no phone response

1
tried ringing a few times and its always the same long queues and and after waiting a long time you just give up and start looking for a bank that answers the phone wen you ring them Reviewed on: 8th September 2021

Terrible Internet Banking

1
Co-Ops previous online banking was poor, but the (relatively) new one is even worse. - Payments to new beneficiaries cannot be made for 24 hours - Any click on back button (and we all do it, don't we?) logs you out - Recent transactions are listed in a single column, not separate columns for credits and debits, so it's much harder to find transactions. If you look really hard you can just about make out the tiny minus sign which siginifies a debit. - The default number of transactions shown is 5. - When creating a BACS payment the screen constantly refreshes and flickers, while displaying odd messages that then disappear - Quick link to 'Pay an existing beneficiary' does not let you set it for a date in the future, you can only do this via 'Pay an existing beneficiary' from the menu. Why? - Frequent popups along the lines of 'we're resizing for your screen.' In this day and age? Try looking up responsive css..... - Menu is really not user friendly It's astonishing that something this bad could have been signed off by anyone. I also have a business account with LLoyds, and while not perfect, it is way way way better than this one. Reviewed on: 3rd September 2021

Terrible online portal and delay in setting up beneficiaries

1
The website is pretty much un-usable. When setting up a new beneficiary it creates an automatic delay of 24 hours(?!) before you can make a payment to them. Absolute joke. Reviewed on: 25th August 2021

Terrible customer service

1
I have just opened an account with the Co-op but cannot use it because I cannot activate the security token to access internet banking. The token is activated by phoning the bank and going through security. Unfortunately it is almost impossible to get through. There is a wait of over an hour to speak to anyone and I have not yet to had enough time to wait that long. Some people have reported waiting over two hours before they have given up. In view of the difficulties getting through I will probably close the account and go elsewhere. Customers need to be able to speak to their bank. I cannot begin to imagine the stress if there is a problem with an account and not being able to speak to a member of staff.. Reviewed on: 5th August 2021

Worst bank ever

1
This bank has frozen my current account for almost 6 months now and have REFUSED to provide me with any legitimate reason or evidence as to why they did this! They also REFUSE to let me speak to a manager or any other department every single time I call to ask (with wait times of up to an hour). This bank is corrupt and operates fraudulently. They would sooner see you starve than admit to a mistake on their part. Reviewed on: 19th July 2021

The WORST Business Account!!

1
Not even an exaggeration, they've got it so wrong that it's not funny, just infuriating! I loved one of their customer service reps' response to why even wait times are ridiculous for business customers 'places like Barclays can afford more staff' well then, great sales pitch/excuse. Here's why I'm leaving. took 3 months for the account to open. Once opened, a stupid pinsentry was sent to me (I thought these went out of date in 2010? but clearly they just started stocking them. The Username and customer ID is ridiculous, esp the Customer ID, so I always need the paper to hand, its illogica & without the pinsentry of if the pin's battery goes - then so does your online access! But it's okay, you have their long waits, multiple time-wasting options lists of a call centre to get through to. But once you are logged into their website, its a diabolical mess. You need to know the exact date of the statement you want? What?? the date they sent it??? or is it just one day? Well, it's definitely not just one day, as this doesn't load. need to write stuff down by hand? then make sure you do it within 5 minutes or it'll log you out, and youll have to start all over again. Need to view transactions? they will make this far more difficult for you too, it's like a gameshow you can only lose at. I absolutely hate it. I hate their online crap, I hate their out dated system, and their long wait times. not to mention that my business partner hasn't managed to access the account once in the 5/6 months that it's been open. So we're leaving. Not just that, it's put me off so much - I'm leaving as a personal customer too. Pay a bigger bank to deal with your banking, look elsewhere.. if you value your time, are busy or have work to do.. then you don't need this hassle. Reviewed on: 26th May 2021

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