Co-op switching offer leads to one account application every minute

The Co-operative Bank has seen a huge increase in customers switching their main current account to them over the last two weeks, with over 90% of new customers moving their account away from the big five banks.

With many customers looking for an alternative to their existing Bank, The Co-operative's offer of £200 for people switching their main current account to the Bank has proven hugely successful. Since the offer launched over two weeks ago, the Bank has seen almost 30,000 current account applications, or one every minute.

Following unprecedented demand, the offer is now no longer available to new account applicants. The Co-operative Bank is however still encouraging customers who are disillusioned with their existing bank to move, with six reasons to switch their current account:

Simple - we promise customers that their switch to us will be straightforward and if they want, we will even text them with updates every step of the way

We'll do the work - once we've received a customer's request to switch we will contact their old bank within 24 hours to ensure that their direct debits and standing orders are switched over

Interest free overdraft - we offer a £1,000 temporary fee-free and interest-free overdraft for switchers so customers don't need to worry about missed payments

Take a share in our success - we're member owned which means everyone who joins us has a share in the profits and a say in how our businesses are run

Call centres - all our call centres are UK based and open 24 hours a day, 7 days a week. We've also just added another 245 branches to our network so you can talk to a friendly voice whenever you need

Happy customers - our customers consistently vote us as the top high street bank for customer service

Robin Taylor, Head of Banking at The Co-operative Bank, said: "We've been greatly encouraged by the huge demand we've seen amongst customers looking for an alternative bank in recent weeks.

"With many of the big five banks closing branches and consistently scoring badly for their customer service, we're keen to prove to customers that there is an alternative bank on the high street and that switching banks needn't be stressful. We've a dedicated switching team who are working to process all of the applications from our new customers, keeping the switching process as simple as possible for them."

Customers who have applied online for a new Current Account, Current Account Plus, Privilege or Privilege Premier current account between 17th and 24th October 2011 are still eligible for the £200 offer by completing a full switch from another provider using our dedicated switching service within 14 days of account opening.