Co-op Bank vs Santander: Switch Bonus Comparison
Santander offers the better net value at £180 vs £75 after fees.
- Request full CASS switch within 2 weeks of opening
- Complete switch within 8 weeks
- Deposit £1,000+ within 30 days
- 2 active direct debits
- For monthly bonuses: £1,000/month deposit, 2 DDs, 10+ card transactions
- Cannot have received Co-op switch incentive since 1 Nov 2022
- Full CASS switch
- Pay in £1,500 within 60 days
- 2 active household direct debits within 60 days
- Cannot have held a Santander current account on 1 Jan 2025
- £100 upfront + £25/month for 3 months (£175 total)
- 7% AER Regular Saver (up to £250/month)
- Ethical banking
Verdict: Co-op Bank vs Santander
Santander offers the higher switch bonus at £180 vs £75.
Santander has fewer requirements (4 vs 6), making it simpler to qualify.
Co-op Bank comes with more perks (3 vs 0), including things like £100 upfront + £25/month for 3 months (£175 total).
Co-op Bank has the better regular saver rate at 7% vs 5%.
Frequently Asked Questions
Which has the higher switch bonus, Co-op Bank or Santander?
Santander currently offers the higher bonus at £180, compared to £75 from the other bank.
Can I switch to both Co-op Bank and Santander?
Yes, you can switch to both banks, but you need to do them one at a time using the Current Account Switch Service (CASS). Complete one switch, wait out the cooling-off period, then switch again to the second bank.
How long is the cooling-off period for Co-op Bank and Santander?
The cooling-off periods are: Santander: 12 months. During this time you cannot switch away without potentially losing your bonus.
Which bank is easier to switch to, Co-op Bank or Santander?
Both banks use the Current Account Switch Service (CASS), which makes the process straightforward. The main differences are in specific requirements like minimum pay-in amounts, number of direct debits, and whether you need to use their app. Check the requirements comparison above for full details.