Britannia customers offered current accounts, Co-op says

THE Co-op’s Britannia branches are to be transformed so that customers can open current accounts.

The 245 branches will also allow account holders to pay bills and carry out balance inquiries as part of their integration into the Co-op stable after a merger in 2009.

Previously the Britannia only dealt with savings accounts and mortgage products. Britannia branches will also adopt new signage indicating their link to the Co-operative Bank.

Peter Marks (pictured), group chief executive of the Co-operative Group said: “At a time when other banks have been closing branches, we are offering hundreds more places for people to carry out day to day banking activities across the country.”

The Co-operative Banking Group has £7bn in assets, 12,000 staff and 9m customers.

It has more than 300 high street branches.

Rod Bulmer, Managing Director, Retail for the Co-operative Bank adds: “We have seen an increase of 73 per cent in the number of new current accounts opened in the first half of this year and now have over 1.5 million current accounts. This shows that there is an appetite from consumers to switch banks and we are hoping that this move will genuinely help bring some much needed competition to the current account market.”

Additionally, from today, the Co-operative Financial Services will now be known as The Co-operative Banking Group, operating under both The Co-operative Bank and The Co-operative Insurance brand names.