The Co-operative Bank student account review 2023

Find out the benefits and incentives offered by the Co-operative Bank's student account.

Finder rating: ★★★★★

No reviews yet. Write a review

The Co-operative Bank’s student account offers an interest-free overdraft, but how does it compare to other student bank accounts? Read our review to find out more.

Types of current accounts for students

The Co-operative Bank has one current account available for students – The Co-operative Bank Student Bank Account.

Below, we’ll explore the key benefits and features associated with this student bank account.

Product NameStudent Account
Card typeCash / Debit
Debit networkVisa
Minimum opening balance£0
Account fees£0
Interest (AER)0% AER
Funding requirementNo minimum funding requirement
Daily cash machine limit£250
At end of termAccount transferred automatically to Current Account
Maximum overdraft in year 1£1,400
Maximum overdraft in year 2£1,700
Maximum overdraft in year 3£2,000
Overseas card transactions2.75%
Overseas cash withdrawals2.75%


To be eligible for this account, you’ll need to:

  • be at least 18 years old;
  • be a UK resident;
  • have been confirmed on a full-time course for at least two years;
  • have no other student accounts opened.

If you have a place on an Undergraduate degree, Postgraduate degree, Foundation degree, BTEC Higher National Diploma course or a NVQ Level 4 or 5 course, you’re eligible.

If you’re studying on an Open University course or an apprenticeship, you’re not eligible for this account.

How to open an account

To open a student account, you’ll need to fill out a form on The Co-operative Bank’s website (which recommends doing this on a desktop). You’ll then need to email, post or take the form to a bank branch to complete your application.

You’ll need to include proof of acceptance onto your course with your application. The Co-operative Bank says it may also write to applicants if it requires proof of ID and home address.

You can expect to hear back from the bank within seven days of it receiving your application form. If your student account application is accepted, you’ll be sent your welcome pack and debit card.

The benefits

  • Interest-free overdraft. You’ll be given an interest-free overdraft of £1,400 when you open the account. You can apply for this to be increased up to £1,700 in the second year and £2,000 in the third year. For your overdraft to become availible, you will have to pay in at least £300 within 28 days after your account has been opened.

Pros and cons


  • Interest-free overdraft, with a limit increasing up to £2,000.
  • The Co-operative Bank is an ethical bank, supporting several UK charities.


  • No incentives other than an interest-free overdraft.
  • No seamless online application process.
  • This account is not available to international students, Open University students or apprentices.

Frequently asked questions

Do I have to get my student loan paid into this Co-operative Bank account?

No. This account comes with no regular funding requirements. See how that compares in our comparison of student accounts.

How much does it cost to use the Co-operative Bank student debit card overseas?

When you use your card overseas, you'll pay a non-sterling charge of 2.75%. For, example, if you spend the local equivalent of £250, you'll be charged £6.88.

Because it's a Visa, you'll find it's accepted pretty much anywhere that takes card payments.

Compare options for keeping costs down when spending abroad.

How much does it cost to withdraw cash overseas using the Co-operative Bank student debit card?

You'll pay a currency conversion fee of 2.75%. For, example, if you take out the equivalent of £150, you'll be charged £4.13. Withdraw 250 euros (that's around £219.34) at an ATM in Paris and it'll cost you £6.03. Don't forget that the local cash machine provider may charge its own fee too.

Does The Co-operative Bank's interest-free student overdraft limit increase over time?

Yes. While the opening interest-free overdraft limit is capped at £1,400, this increases to a maximum of £2,000 in year three. Check out our full comparison of student accounts to see the interest-free overdrafts available to UK students with a breakdown of each account's limit in each year of your course.

Our verdict

There’s not much to write home about with this account. Yes, there’s an interest-free overdraft available – which is the only noteworthy incentive – but some other student accounts offer larger 0% interest overdrafts. On top of that, you’ll have to go through a rather cumbersome application process in order to open the account.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
Go to site