The Co-op sees increase in enquiries to open business bank accounts

It is not only current account customers who are choosing to ‘vote with their feet' when it comes to choosing their banking provider. The Co-operative Bank has also seen a significant uplift in switching appetite from business customers too.

In the past two weeks business bank account enquiries to The Co-operative Bank have increased by 43%

Applications to open business accounts have increased by 16% in the last week alone

The Co-operative Bank offers a range of accounts to business customers

The Bank has recently increased the number of Corporate Banking Centres it has across the UK bringing the total number to 22 - this figure has doubled since 2006

Keith Alderson, Managing Director of Corporate and Business Banking at The Co-operative Bank, said:  "In the last two weeks alone we have seen a huge increase of interest in our business banking offering - a flight to trust from customers looking for an alternative home for their money.

"We offer businesses a compelling alternative to the main providers in the market. We take a partnership approach to banking and see ourselves as an important stakeholder in helping a business be successful in the long-term.

"The increased interest and subsequent applications to open our business accounts is testament to the package we provide to our customers, alongside excellent customer service levels which we pride ourselves on."

Ethical credentials

We are the only high street bank to have a customer mandated Ethical Policy, which sets out who we will and won't do business with.  This has been in existence since 1992.

We have a different model to most other high street banks in that we're member-owned - as we don't have shareholders we take a longer term view and don't just chase short-term profits at the expense of customers

We're also democratically-controlled and are guided by co-operative values and principles of  honesty, openness, social responsibility and concern for others

Ethical Policy highlights:

We won't deal with companies which manufacture or sell 'indiscriminate' weapons such as cluster bombs

We don't deal with companies which have poor records on labour rights e.g. employing children or opposing trade unions

We don't deal with companies which develop high climate change emissions fuel such as tar sands