Up to £175 to switch current accounts – and every six switches funds a warm bed on Christmas day

Notes to Editors

*While the examples provided accurately reflect the cost of accommodating a young person in one of Centrepoint’s services, all donations will go towards the charity’s general work supporting homeless young people to find safe housing and build a better future.

**Accounts included in the offer are a Standard Current Account, Current Account Plus, Privilege, Privilege Premier or Everyday Extra account.

To qualify for the £175 switching offer new and existing customers must meet the eligibility criteria and terms and conditions:

• New current account customers must apply on or after 2 December 2025 for a Standard Current Account or Everyday Extra account, before the offer is withdrawn.

• Existing eligible Standard Current Account, Everyday Extra, Current Account Plus, Privilege and Privilege Premier customers must request a full switch into their existing account during the period in which the offer is live.

• smile Current Accounts, Student Accounts and Cashminder Accounts are not eligible for this offer.

• Eligible customers must not have benefitted from a switch incentive at The Co-operative Bank since 1 November 2022.

• To receive the switch payment of £100, in the 30 days following completion of a switch, customers must:

  • deposit a minimum of £1,000 into their new account (this includes balances transferred as part of the switch).

  • have 2 active Direct Debits.

  • make a minimum of 10 debit card or digital wallet transactions (pending payments will not count toward fulfilment of this criteria).

  • register for our online and/or mobile banking service, and;

• New current account customers must apply for an account during the period in which the offer is live, and request a full switch within 2 weeks of account opening.

• New and existing customers must complete a full switch into their eligible current account within 8 weeks of the switch being requested.

• To receive the stay payments of £25 in the first three months, each month customers must:
  • deposit a minimum of £1,000 into their account
  • have 2 active Direct Debits, and;
  • make a minimum of 10 debit card or digital wallet transactions.

Media Contacts

The Co-operative Bank Press Office

Tel: 0151 271 1985

Email: pressoffice@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank p.l.c. provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

In 1992, The Co-operative Bank took the pioneering step to become the first UK bank to launch a customer-led Ethical Policy, which gives the Bank’s customers a say on the ethical issues that are important to them, and how the Bank could help. These answers form the basis of our Ethical Policy, shaping the Bank’s ethical commitments, the way in which it will use customer’s money and the issues it will campaign for. Since 1992, the Ethical Policy remains unique in the UK and has been updated six times in consultation with the Bank’s customers, to reflect their changing priorities.

In January 2025, The Co-operative Bank joined Coventry Building Society Group – a top 10 lender and the 2nd biggest building society in the UK.

About Centrepoint

Centrepoint is the leading charity for homeless young people aged 16-25.

Centrepoint operates nationally, with bases in London, Manchester, the North East and Yorkshire.

Centrepoint supports thousands of vulnerable young people a year by providing accommodation, teaching valuable life skills, tackling their physical and mental health issues and working with them to get them into education or employment.

The Freephone Centrepoint Helpline is available for any young person aged 16-25 worried about homelessness. It is open Monday to Friday from 9am to 5pm. The Centrepoint Helpline number is: 0808 800 0661.

HRH The Prince of Wales became Centrepoint’s Patron in 2005. For more information, please visit Centrepoint's website.

Centrepoint’s youth homelessness estimate

Centrepoint estimates that between October and December 2025, 23,500 young people (16–24-year-olds) will present as homeless or at risk of homelessness to local authorities in England.

The estimate was calculated using data collected through a Freedom of Information (FOI) request carried out by Centrepoint every year since 2018. Local authorities provide data on the number of 16–24-year-olds who have presented themselves as homeless, which is broken down into quarters. Data points from October to December 2018–2024 were used to predict an estimate for the same quarter this year.