Everyday Extra - our packaged bank account

For people who want all the features of a current account, plus helpful, everyday extras like mobile phone insurance, worldwide travel insurance, and UK & European breakdown cover, all for just £15 per month.

What our Everyday Extra packaged bank account offers you:

  • Mobile phone insurance, worldwide travel insurance, and UK & European breakdown cover, all for just £15 per month
  • You can apply for an overdraft as part of your account application, or once your account is opened. Read our overdraft information whether you're intending to apply for one or not.
  • Peace of mind knowing your banking services are with the original ethical bank – protecting the planet and supporting the community
  • Available as a sole account or a joint account
  • If you have a joint account, you'll both be covered independently for the same price
  • Managing your money easily either online or in our mobile app.

Not the right account for you? Take a look at our other bank accounts.

Before you apply...

To apply you must:

  • Be between 18 and 79 years old
  • Meet the UK residency eligibility criteria for the insurance benefits (which excludes the Channel Islands and the Isle of Man)

Approval is based on an assessment of your personal circumstances and is subject to status and additional eligibility criteria.

You're unable to open an Everyday Extra account if you have:

  • An existing Everyday Extra, Privilege Premier, Privilege, smilemore or Credit Card Plus account with The Co-operative Bank
  • An account with another provider which includes similar benefits (like travel insurance, motor breakdown cover and mobile phone insurance)
  • An equivalent standalone travel insurance, motor breakdown cover and mobile phone insurance in place. Where you do have existing cover, please ensure you review any current policies and are happy to proceed.

Packaged bank account benefits

What's included with our Everyday Extra packaged bank account. What is a packaged bank account?

Travel Insurance.svg
AXA Worldwide travel insurance
  • Covers for personal accidents and emergency medical expenses
  • UK holiday cover included (excluding personal liability)
  • Replacement of lost luggage
  • Winter sports cover
  • No excess to pay on claims

View full policy (PDF)

Breakdown cover.svg
RAC UK & European breakdown cover
  • Roadside assistance if you're stranded, at home or in Europe
  • Up to 3 days' car hire while your vehicle is repaired
  • Alternative transport to your destination or a hotel stay while you wait
  • Electric vehicle (EV) cover too

View full policy (PDF)

Phone Insurance.svg
LSG worldwide mobile phone insurance
  • Cover for your mobile phone and SIM in the event of loss, theft, accidental damage, or breakdown (including faults), up to £1,500
  • Cover for any unauthorised calls, texts, or data use
  • Cover for your phone's accessories, up to the value of £350
  • £75 excess, per claim

View full policy (PDF)

AXA, RAC and LSG logos

Exclusions and limitations apply to all policies. Please read each insurance policy to fully understand the level of cover provided.

What is a packaged bank account?

A packaged bank account is a current account that includes additional benefits or services, such as travel insurance, car insurance, or rewards and cashback - all for a monthly fee. Looking for the best packaged bank account for you? Learn more about what a packaged bank account is.

Overdrafts

Overdrafts are intended for short term borrowing and not suitable for long term borrowing.

An arranged overdraft is a set amount you've agreed with us in advance. You will be charged debit interest when you use your arranged overdraft.

Make sure you've read our overdrafts information whether you're intending to apply for one or not, so you know about arranged and unarranged overdrafts.

An arranged overdraft is a set amount you've agreed with us in advance. You will be charged debit interest when you use your arranged overdraft.

Check your eligibility for an overdraft

You can check if you are likely to get accepted for an overdraft using our eligibility checker.

Calculate how much an overdraft will cost

Calculate the cost of an overdraft based on how you might use it with our overdraft calculator.

Overdrafts are intended for short term borrowing and not suitable for long term borrowing.

If you haven't arranged an overdraft

You'll go into an unarranged overdraft if you go over your arranged limit or your account balance falls below £0 without an arranged overdraft in place. You will be charged debit interest for going into an unarranged overdraft.

Your payments might be refused if you try to go overdrawn without having arranged an overdraft.

How overdrafts affect your credit reference file

Any type of borrowing shows on your credit file. However, an unarranged overdraft shows as arrears which can negatively impact your credit file and may make it harder for you to obtain credit in the future.

Charges

You will be charged debit interest when you enter into an arranged and/or unarranged overdraft at an annual interest rate of 35.9%.

How you can manage your overdraft

Change your overdraft limit

You can find out more about our overdrafts, including how to apply for a new limit, or change an overdraft limit you already have, by visiting our overdrafts page. You must make regular payments into your account to reduce the amount you owe.

If you already have an arranged overdraft limit with us, which you'd like to remove, you can do this by contacting us.

Text alerts when you go into your overdraft

To help manage your money and avoid/minimise debit interest you might pay, we send overdraft text alerts if you go into or you're about to go into an arranged or unarranged overdraft. We will also send alerts if you have payments due that may not be paid.

As long as we have your mobile number, you'll be automatically opted in for overdraft text alerts. You can opt out of arranged and/or unarranged overdraft alerts at any time by contacting us.

More information on overdraft text alerts

To apply for an overdraft you need to be:

  • 18 or over
  • A UK resident
  • Employed, self-employed, retired or medically retired.

Approval is based on a credit check, an assessment of your personal circumstances and is subject to status.

If you wish to switch an account to us and an overdraft forms part of your decision to do so, please wait for confirmation of your overdraft before making an application to switch.

Find out more about our overdrafts

Representative example

£1,200 credit limit

35.9% annual interest rate

35.9% representative APR variable

How does our overdraft compare?

The representative APR provided can enable you to compare the costs across different products and providers.

How much does my overdraft cost in pounds and pence?

As an example, the interest cost of borrowing £500 is

7 days: £2.98

30 days: £12.76

60 days: £25.66

This is based on borrowing £500 on the first day of our charging period and assumes this overdrawn balance remains until it is repaid at the end of 7, 30 or 60 days. This example does not include any interest-free amounts that are provided on some accounts.

We have a £60 cap on interest for any type of overdraft (arranged overdraft or unarranged overdraft) in one charging period. This is the maximum you will ever pay for using an overdraft per charging period.

The monthly cap refers to the charges applied in a charging period not a calendar month. Please refer to the Account Charges Leaflet (PDF) for details of the charging periods.

Below is a standard definition to allow you to compare unarranged overdraft charges across different providers. Fees are included in the comparison, but we choose not to charge you fees for payments where you have a lack of funds.

Each current account will set a monthly maximum charge for:

a) Going overdrawn when you have not arranged an overdraft.

b) Going over or past your arranged overdraft limit (if you have one).

This cap covers any:

a) Interest and fees for going over or past your arranged overdraft limit.

b) Fees for each payment your bank allows despite lack of funds.

c) Fees for each payment your bank refuses due to lack of funds.

Account fees

There is a monthly fee of £15 for maintaining this account, which provides you with worldwide travel insurance, UK & European breakdown cover and mobile phone insurance.

Debit interest

You'll be charged debit interest at an annual interest rate of 35.9% on the amount you're overdrawn by.

Other charges

Other charges as part of this account may include:

  • Foreign transaction services, such as using your debit card abroad
  • Electronic payments, such as CHAPS
  • Other services, such as copies of your statement.

Want access to exclusive savings accounts?

If you sign up to a current account with us, you'll get access to some exclusive savings accounts too.

If these accounts aren't right for you, or you want to save without having a current account with us, we have plenty of other accounts available.

Already have a current account?

You can upgrade your existing current account through our online banking services.

Upgrade to an Everyday Extra account

Ready to apply?

New account application

Once you've read all about the Everyday Extra account benefits, exclusions and you meet the eligibility criteria, you will be able to apply.

Additional things to consider:

  • The insurance for this account won't cover you until we confirm your Everyday Extra account is open
  • Once you have opened a sole Everyday Extra account, you won't be able to add an additional account holder at a later date
  • If you do not wish to pay a subscription fee, a non-fee paying current account is also available
  • Depending on your individual circumstances, it may be better value for money to purchase the insurance benefits separately from another provider.

You must read and save the Important documents below for future reference.

Important documents

Please read these documents and save for future reference:

Upgrading to an Everyday Extra account

If you have an existing current account with us and are looking to upgrade to an Everyday Extra account, you can upgrade your existing current account through our Online Banking services.

Not registered for online banking? Get set up here.

Through Online Banking, you’re able to apply to upgrade your account by:

  • Logging in to our Online Banking service

  • Once you've selected the account you want to upgrade, click 'Manage account'

  • If your account is eligible to upgrade, you'll see an 'Upgrade to an Everyday Extra account' button

  • Click this button and follow the on-screen instructions.

Please note, the visibility of the 'Upgrade to an Everyday Extra account' button is subject to status and based on additional eligibility criteria.

To upgrade to an Everyday Extra account, you have to:

  • Be between 18 and 79 years old.
  • Meet the UK residency eligibility criteria for the insurance benefits (which excludes the Channel Islands and the Isle of Man).
  • Hold a Co-operative Bank Current Account or Current Account Plus.
  • Have registered for online banking with us.
  • Approval is based on an assessment of your personal circumstances and is subject to status and additional eligibility criteria.
  • Please be aware the insurance for this account won't cover you until we confirm your Everyday Extra account is open.

Please note, you can't upgrade to Everyday Extra Current Account if:

  • You have an existing Everyday Extra, Privilege Premier, Privilege, smilemore or Credit Card Plus account with The Co-operative Bank.
  • You have another account with another provider which includes similar benefits (like travel insurance, motor breakdown cover and mobile phone insurance).
  • You have equivalent standalone travel insurance, motor breakdown cover and mobile phone insurance in place. Where you do have existing cover, please ensure you have reviewed the policies and are happy to proceed.
  • You’re currently using an unarranged overdraft.
  • You are currently using the £200 overdraft limit for Current Account Plus.

To upgrade to a joint Everyday Extra account, you will need to have a joint current account before applying to upgrade.

If you already have a sole Co-operative Bank Current Account and want to upgrade to a joint Everyday Extra account

Use this form to convert your current account to a joint account before applying to upgrade to a joint Everyday Extra Current Account. Please note, after converting you’ll both need to meet our eligibility criteria to upgrade.

Also, please be aware that a sole Everyday Extra account cannot be converted to a joint account after the account has been opened.

Find out more about joint accounts, including the impact and responsibilities of each account holder

Additional things to consider:

  • Please note that once you have opened a sole Everyday Extra account, you won't be able to add an additional account holder.
  • If you do not wish to pay a subscription fee, a non-fee paying current account is also available.
  • Depending on your individual circumstances, it may be better value for money to purchase the insurance benefits separately from another provider.

Ready to upgrade an existing current account?

Log into online banking to see if you're eligible.

Log into online banking

To upgrade to this product, you need to be registered for online banking. If you're not, go here to register. If you are, please follow the next steps:

  • Log in to online banking

  • Once you've selected the account you want to upgrade, click 'Manage account'

  • If your account is eligible to upgrade, you'll see an 'Upgrade to an Everyday Extra account' button

  • Click this button and follow the on-screen instructions.

Please note, the visibility of the 'Upgrade to an Everyday Extra account' button is subject to status and based on additional eligibility criteria.

Switching

If you have an active current account with a different bank, you can apply to switch to us whenever you’re ready.

With our simple switching process, we’ll move all your direct debits, standing orders and bill payments to your new account with us.

Once you've applied to switch, you don't need to do anything else as we take care of the rest.

You can choose what date you’d like to complete the switch and close your old account. Once the switch has started, it takes just 7 working days to complete. And you'll be covered by the Current Account Switch Guarantee, so you don't need to worry about missing payments.

Current Account Switch Guarantee Logo

Get help with your Everyday Extra account

If you need help with things like:

Then we have all the information you need in our help centre.

The Co-operative Bank reserves the right to decline any application.

Whether we can offer you credit depends on your circumstances and our lending policy. We may decline your application based on your circumstances or our lending policy. We may be able to offer a product that's different to the one advertised.

Smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please read further information on the FSCS scheme here or visit their website.

Not found what you're looking for?

Contact our support team