Co-operative Bank vs Metro Bank compared
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. You can check a firm’s details on the FCA Register.
FSCS protects eligible deposits up to £120,000 per person, per authorised institution.
Quick answer
Both have no-fee current accounts. The Co-operative Bank adds 0% currency conversion abroad and a 7.00% Regular Saver; Metro Bank offers walk-in stores and capped overdraft charges but charges 2.99% abroad.
The Co-operative Bank plans to transfer to Coventry Building Society on 1 January 2027, subject to court approval.
Co-op Bank vs Metro Bank compared
| Feature | Co-operative Bank | Metro Bank |
|---|---|---|
| Monthly fee | £0 | £0 |
| Card abroad | 0% currency conversion | 2.99% (+£1.50 for cash) |
| Regular saver | 7.00% variable, up to £250 a month | None listed |
| Fixed savings | 4.25% AER for 1, 2 or 3 years (from £1,000; Co-operative Bank, 19 Oct 2026) | 3.70%–3.75% AER (from £500) |
| Business account | £0 Business Bank Account | £0 if £6,000+ daily, else £8 |
| Planned change | Transfer to Coventry Building Society (1 January 2027, subject to court approval) | None noted |
Figures as of 4 October 2026, taken from each provider’s own website; Co-operative Bank fixed savings rate re-checked on 19 October 2026. Rates and fees can change.
Who each suits
- Co-op Bank: ethical-minded savers and travellers
- Metro Bank: people who want in-store help and businesses keeping £6,000+
Who should skip it
These are general points to weigh up, not advice. You may want to look elsewhere if:
- You need certainty about who’ll run your account next year — check Co-op’s transfer plans
Full explanation
For savers, Co-op’s rates were higher across the board on 4 October 2026. For face-to-face help, Metro’s stores are the draw.
The catch
Co-op’s switching offer is a prize draw, not a guaranteed payment.
Check each bank’s current terms.
These go straight to each provider’s own website. They aren’t referral links and we don’t earn from them.
FAQs
Which is better abroad?
The Co-operative Bank advertises 0% currency conversion; Metro charges 2.99%.
Is the Co-operative Bank closing?
No — it’s proposing to transfer its business to Coventry Building Society, subject to court approval.
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