Account nameEveryday Extra - with Everyday Rewards
Free travel accident insurance – covers account holder and family including dependent children up to 22 years old.
ProviderThe Co-operative Bank
Account fee£15 per month
ATM withdrawal limit£250
Debit networkVisa
Card typeCash / Debit
Minimum eligibility age18 Years
Mininum operating balance£0
Minimum opening balance£0
Direct debits
Current account switch guarantee
Cheque Book

The Co-operative Bank is an ethical bank that was founded in 1872. Its Ethical Policy first launched in 1992 and has been reviewed several times since. The bank does not provide services to businesses and organisations that conflict with this policy and aims to offer products and services that reflect its values and ethics.

This review looks at the Co-op’s Everyday Extra current account.

What is the Co-op Everyday Extra current account?

The Co-op Everyday Extra current account is a packaged account that offers mobile phone insurance, travel insurance and breakdown cover in return for a monthly fee of £15.

It can be opened as a sole account or a joint one. With joint accounts, you will both be covered independently, but the fee remains the same. The account can be managed online and by mobile banking.

How does it work?

The key features of the Co-op Everyday Extra current account are outlined below:

  • AXA worldwide travel insurance. Cover for you, your partner (if you’re travelling with them) and dependent children up to 22 years. Winter sports and golf cover is included.
  • LSG mobile phone insurance. Covering loss, theft, accidental damage, water damage and electrical or mechanical breakdown, anywhere in the world.
  • RAC UK and European breakdown cover. Covering assistance at the roadside, at home and in Europe. You’ll be covered for any vehicle you’re travelling in.
  • Everyday Rewards. Opt in to earn up to £2.20 a month. Rewards can be paid into your account or you can donate to charity.
  • Arranged overdraft. Optional overdraft available as part of your application.

Who is it for?

To be eligible for the Co-op Everyday Extra current account you must be aged between 18 and 79 years and a UK resident. You must not have had any county court judgments (CCJs) or defaulted on any credit agreement in the last 2 years, or have been declared bankrupt in the last 6 years.

You won’t be able to open the account if:

  • You have an existing Everyday Extra, Privilege Premier, Privilege, smilemore or Credit Card Plus account
  • You have another account with another provider which includes similar benefits, such as travel insurance, breakdown cover and mobile phone insurance
  • You have equivalent standalone travel insurance, breakdown cover and mobile phone insurance in place

What are the benefits?

The Co-op Everyday Extra current account offers a wide range of benefits, including travel insurance, breakdown cover and mobile phone insurance – all for a fee of just £15 a month. It also offers you the chance to sign up to its Everyday Rewards scheme, enabling you to earn £1 for each month you qualify and up to £1.20 a month for debit card spending.

To qualify for the scheme, you must:

  • Pay in at least £800 to your account each month
  • Stay in credit or within your arranged overdraft limit
  • Log in to online banking or the mobile banking app at least once a month
  • Stay opted in for paperless statements on your account
  • Pay out at least 4 direct debits from your account

How to apply

You can apply for the account online which should only take 15–20 minutes. You will need to provide details such as:

  • Your current address and address history
  • Your income
  • Details of your employment
  • Sort code and account number to your main current account (if you have one)
  • Your regular outgoings (if you want to apply for an overdraft)

If you have an existing current account with the Co-op Bank you can upgrade your account through online banking.

Is it safe?

Yes, the Co-operative Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Eligible deposits will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person or up to £170,000 for joint accounts.

Pros and cons of the Co-op Everyday Extra account


  • Includes travel insurance, mobile phone insurance and breakdown cover
  • Option to opt into Everyday Rewards scheme
  • FSCS protection
  • Easy to apply for
  • Overdraft available
  • Ethical bank


  • Monthly fee
  • You’ll need to meet certain eligibility criteria to apply
  • You’ll need to meet certain criteria to earn rewards
  • Interest charged on overdrafts (capped at £60 per charging period)

Our verdict

The Co-op Everyday Extra account is a competitive choice for anyone looking to bank more ethically but also enjoy a few extra perks at the same time. It could be a particularly great option for anyone opening a joint account as you’ll both be able to enjoy the insurance benefits, but only pay one monthly fee. However, you’ll need to ensure you meet the eligibility criteria and that you don’t already have equivalent insurance policies elsewhere.

It can also make good financial sense to check whether you can find these insurance policies for less than the annual cost of the account fee (£180 in this case) to ensure you’re getting good value for money. Consider, too, whether you’ll make full use of the benefits to ensure the fee is worth paying and don’t forget to check for exclusions in your insurance policies so that you don’t get caught out.

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