Co-op hikes account fees by 20%: should you stay?

Sarah Coles
High Street Banks - Stock
High Street Banks - Stock

The Co-Op Bank has hiked the monthly fees for its paid-for Privilege and Privilege Premier accounts by an astonishing 20%. From July, Privilege customers will see their monthly payments increase from £9.50 to £11, while Privilege Premier customers will see their monthly fee rise from £13 to £15.50 a month. Some customers with Smile will also see monthly fees rise from £13 a month to £15.50.

It's yet another bit of bad news for Co-Op customers, who are likely to be wondering whether they would be better off elsewhere.