The Co-operative Bank chat

UK Financial Chat
33

CO-OP now paying 5.00% & 4.96% on both of the easy access accounts i hold with them.

Cant find a better deal atm.
35

Which accounts? Can’t see anything close to that other than fixed for three years.

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39

Seems they’ll probs just internally transfer it to your Coop details and it’ll forward to your CASS account automatically.

Very poor service all round though, I’d have expected a call or email from coop asking where I’d like it to be paid.

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42

You could probably issue the MCOL and they will probably pay more care to it, I’m sure they don’t want a bailiff showing up :joy:

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48
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49

I fully approve of more and financially solid mutuals in the market place, be good for the sector and the wider banking world.

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50

The co-op haven’t been a mutual for years.

That said, it would be good to see the Coventry get properly back into banking. I gather that their Coventry First account was excellent.

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51

I think that’s the point - re-mutualising them via Coventry. Though not one for me, I’ll be watching this with interest.

Isn’t this better in the co-op chat? @AlanDoe

52

@AlanDoe @SouthseaOne

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53

Got to be going cheap if Coventry is after them surely

54

The Coventry Co-operative.

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55

I think that they’ll do want to ditch the co-operative name given the bad press for some time. Hopefully they didn’t delete the Coventry First application, though not sure if it ever had an app.

56

It could buy an app from StarlingEngine.

57

That would be brilliant but I’m not sure Starling would want to license their tech to what would be a very significant competitor.

58

Why not? The more successful Coventry is, the more successful Engine is, and with Anne gone, there’s a tech person running the show rather than a banker.

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59

https://www.reuters.com/markets/deals/co-operative-bank-exclusive-talks-with-coventry-building-society-2023-12-21/

61

It is always a bit of a surprise that they are here still in 2023 such that they could disappear. I would have thought the weight of historic scandal, dubious reviews and financial struggles would have seen them off already

Something I keep in mind when someone weighs in on Monzo or Starling prospects

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62

I suspect, and I mean this with respect to them, they survive due to a loyal customer base. So, eventually, this will decrease over time and so will they.

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63

Fixedthatforyou.

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64

I’ve not been super closely following the Metro Bank developments, but Co-op Bank might outlast them, Liza Minelli styley!!