Co-operative Bank to give £200 to businesses opening new accounts

The Co-operative Bank has launched a new incentive giving businesses £200 cashback when they open both a business current account and a business savings account.

The initiative highlights the benefits of pairing the two types of accounts – enabling firms to manage day-to-day payments while setting money aside for the future.

For most businesses a current account is essential for receiving income and managing outgoing costs, while a savings account provides a smart way to build reserves for tax, unexpected expenses, or longer-term growth.

The cashback reward is available to both new and established businesses, with flexible options designed to suit firms of all sizes. The range of savings accounts have varying notice periods – giving businesses the choice to manage their money in a way that works best for them.

Lisa Galley, Head of Business Banking Products at The Co-operative Bank, said: “Having both a current account and a savings account gives business the best of both worlds – easy access for daily transactions and the opportunity to put money to one side. We’ve designed this incentive to reward businesses for setting up both, so they can manage the present while planning ahead.”