Co-operative Privilege Bank Account Review

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4.4 stars
Average rating for this product is: 4.4 out of 5

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Copito's Review of Co-operative Privilege Bank Account

28th Aug 2007

Overall Rating

2.5 stars
  • Customer Service
    1.5 stars
  • Ease of use
    4 stars
Good Points

The travel insurance is undoubtedly a good thing if you travel frequently in the way I've been doing just recently for work purposes; if you don't travel that frequently you'll probably find the account charges are a bit steep.


Bad Points

I'd been wanting to change over from an HSBC account for some time, and first tried to open a Privilege account back in 2003, using the online application. After six months of being called back in to the branch in Leicester to provide a variety of forms of ID, proof of address etc all I'd had back were three statements with the account charges on them, no account details, cards, cheque books, nothing. At that point I just phoned them and asked them to cancel the application. If they were that bad at just opening the account, how bad would it be trying to get direct debits, standing orders etc changed over?

I worked up the nerve to try again in July of last year (2006). Despite stating that if accepted the Co-op would match my existing banking arrangements, the underwriters decided that the £2,000 overdraft limit I had with HSBC was too much and they would only give me £1,000, which they cancelled in July this year while I was away abroad on business without telling me, causing the bouncing of two mortgage payments which they then charged me for.


General Comments

The Co-op had a really bad reputation for customer service throughout the 1980s and it seems as if they haven't changed at all. People who claim to be establishing a benchmark for ethical banking should treat their customers better, not worse, than the usual banks.

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