Co-operative Bank VS PayPal Debit: Business Banking Review & Fee Comparison

Is Co-operative Bank or PayPal Debit better for your small business?

Below we look at both Co-operative Bank and PayPal Debit reviews on Trustpilot along with their App reviews from Apple and Google.

We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.

Co-operative Bank vs PayPal Debit Trustpilot Reviews

	Co-operative Bank	PayPal Debit
Trustpilot Review Score (out of 5)	4.2	1.4
Percent 5-Star Reviews	51%	20%
Percent 1- Star Reviews	39%	73%
Total Number of Reviews	7,699	5,277

Sources:
https://www.trustpilot.com/review/co-operativebank.co.uk
https://www.trustpilot.com/review/www.paypal.co.uk

Co-operative Bank vs PayPal Debit App Reviews

	Co-operative Bank	PayPal Debit
iPhone Review Score (out of 5)	4.7	4.1
Number of iPhone Reviews	47,800	1,600
Android Review Score (out of 5)	4.3	3.3
Number of Android Reviews	33,000	91,500

Sources:
https://apps.apple.com/gb/app/co-operative-bank/id1439204021
https://apps.apple.com/gb/app/paypal-business/id1053148887

Co-operative Bank vs PayPal Debit Account Fees & Charges

	Co-operative Bank	PayPal Debit
Free Business Bank Account	Yes	No
Free Business Account Term Length	30 Months	NA
Cheapest Monthly Account Fee	Free	No
Most Expensive Monthly Account Fee	Free	No
Electronic Payment Cost (in/out)	Free	Free
Cash Payments Cost (in/out)	£1.50 per £100	Free
Cheques (in/out)	£1.50	Free
CHAPS Payments Cost	£25	No
SEPA Payments Cost	No	No

Co-operative Bank vs PayPal Debit Business Savings Rates

	Co-operative Bank	PayPal Debit
Types of Business Savings Accounts	Instant access, 35+ day, 95+ day	None
Lowest Savings Rate (AER)	1.63%	NA
Maximum Savings Rate (AER)	2.51%	NA
Minimum Savings Amount	No	NA
Interest Paid On Foreign Currencies	No	Yes

Co-operative Bank vs PayPal Debit Account Opening Times

	Co-operative Bank	PayPal Debit
Can You Apply Online?	Yes	Yes
How Long Does Opening An Account Typically Take?	5 Working days	Few minutes
Do They Check Your Credit?	Yes	No
Current Account Switch Service	Yes	Yes

Co-operative Bank vs PayPal Debit Features & Account Types

	Co-operative Bank	PayPal Debit
Business Current Account	Yes	Yes
Business Savings Account	Yes	No
Business Credit Card	Yes	No
Business Overdraft	Yes	No
Accounts For Startups	Yes	Yes
Accounts For Charities	Yes	No
Accounts For Sole Traders	Yes	No
Joint Business Accounts Available	Yes	Yes
Card Type	Visa	Mastercard
Online Banking	Yes	Yes
Mobile Banking	Yes	Yes
In Person/Branch Banking	Yes	No
Branch Locations	Limited locations accross the UK	None, online only

Co-operative Bank vs PayPal Debit Customer Support Options

	Co-operative Bank	PayPal Debit
Phone Support Available	Yes	No
Email Support Available	Yes	Yes
App Based Support	Yes	Yes
Web Based Support	Yes	Yes
In person Customer Support	Yes	No

Co-operative Bank vs PayPal Debit Foreign Currency Accounts

	Co-operative Bank	PayPal Debit
US Dollar (USD) Bank Accounts	Yes	Yes
Euro (EUR) Bank Accounts	Yes	Yes
Other Currencies Available:	No	AUD – Australian dollar BRL – Brazilian real CAD – Canadian dollar CHF – Swiss franc CNY – Chinese yuan EUR – Euro GBP – British pound sterling HKD – Hong Kong dollar INR – Indian rupee JPY – Japanese yen KRW – South Korean won MXN – Mexican peso NZD – New Zealand dollar PHP – Philippine peso PLN – Polish zloty RUB – Russian ruble SGD – Singapore dollar USD – United States dollar ZAR – South African rand

Other Business Services From Co-operative Bank and PayPal Debit

	Co-operative Bank	PayPal Debit
Business Loans	Yes	No
Commercial Mortgages	Yes	No
Invoice Financing	Yes	No
International Payments	Yes	Yes
Merchant Payment Services	Yes	Yes
Card Machines	No	Yes
Free Accounting Software	Yes	Yes

Co-operative Bank vs PayPal Debit Banking Basics

	Co-operative Bank	PayPal Debit
Bank Type	High Street	Challenger
FSCS Protection	Yes, up to £85,000	No
FCA Number	990937	742277
Website	Co-operative Bank Website	PayPal Debit Website

Common Comparison Questions

Does Co-operative Bank or PayPal Debit have better customer reviews?

Co-operative Bank scores 4.2 out of 5 based 7,699 Trustpilot reviews. Of these reviews 51% are 5-star and 39% are 1-star.

Whereas, PayPal Debit scores 1.4 out of 5 based 5,277 Trustpilot reviews. Of which 20% are 5-star and 73% are 1-star.

Does Co-operative Bank or PayPal Debit have a better App?

Co-operative Bank’s iPhone App is rated 4.7 out of 5 based on 47,800 reviews. And it’s Android App is rated 4.3 out of 5 based on 33,000 reviews.

In comparison, PayPal Debit’s iPhone App is rated 4.1 out of 5 based on 1,600 reviews. And it’s Android App is rated 3.3 out of 5 based on 91,500 reviews.

Does Co-operative Bank or PayPal Debit have better business savings rates?

Co-operative Bank offers the following types of business savings accounts: Instant access, 35+ day, 95+ day with interest rates ranging from 1.63% to 2.51%. (AER)

In contrast, PayPal Debit offers None accounts with interest rates ranging from NA to NA (AER).

See Other Comparisons:
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Co-operative Bank vs Cater Allen
Co-operative Bank vs AIB (Allied Irish Bank)
Co-operative Bank vs Unity Trust
Co-operative Bank vs United Trust Bank


For other business bank accounts see our guide here.