Get £200 for a switch to the Co-op

The Co-op bank is offering a cash incentive to customers who switch their main accounts. Also in the news, Britain's banks are unprepared for the launch of the new Junior ISA; and does the approach of Christmas give you money-jitters?

A £200 cash payment will go a long way to ease the hassle of changing bank accounts. At least that is what the Co-operative Bank is hoping. Starting this month, any customer who switches their main current account to the Co-op will receive £200, writes Lee Boyce at Thisismoney.co.uk. The offer applies to new and existing customers, as long as £800 is credited into the account for each of the first three months.

The move suggests the bank is serious about taking on the Big Five banks; last month the Co-op moved into 245 former Britannia branches across the country, taking the total branch number to 342. The bank is said to be a potential bidder for 632 branches that are being sold by Lloyds Banking Group.

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