Co-op bank for sale

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  • mr_mf
    mr_mf Posts: 39 Forumite
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    The current Virgin essentials current account doesn't look that sophisticated to me but they do say they are working on other accounts - most probably by acquiring the Co-op!

    What does it offer?

    No overdraft which means no overdraft fees to worry about.
    No charge for unpaid Direct Debits or standing orders.
    Debit card you can use at ATMs*, in shops, online and abroad.
    Earn 0.75% Gross1/AER2 (variable) interest on balances up to £100,000. Interest is paid monthly.
    Manage it through Virgin Money Stores and at any Post Office®, with limited online services.
    Enjoy Virgin Money customer benefits
  • isasmurf
    isasmurf Posts: 1,999 Forumite
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    Virgin essentials is a basic bank account and not intended to be a full service current account. Last year, they said they have ruled out the traditional high street current account, and instead are focussing on building a digital bank to offer current accounts through.

    I suspect their interest in the Co-op is to acquire the business accounts, which is a market they are looking to enter, and possibly the mortgage books.
  • System
    System Posts: 178,104 Community Admin
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    JuicyJesus wrote: »
    My guess would be that the Co-op's current account offerings would become the Virgin Money ones as they're far more sophisticated.

    And it's not like the Co-op's internet banking is particularly modern and featureful as it is!

    Co-op internet banking does all I need it to, if a bit odd design wise.
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