Is Virgin Money or Co-operative Bank better for your small business?
Below we look at both Virgin Money and Co-operative Bank 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.
Virgin Money vs Co-operative Bank Trustpilot Reviews
| Virgin Money | Co-operative Bank | |
| Trustpilot Review Score (out of 5) | 1.4 | 4.2 |
| Percent 5-Star Reviews | 5% | 51% |
| Percent 1- Star Reviews | 89% | 39% |
| Total Number of Reviews | 6,799 | 7,699 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/co-operativebank.co.uk
Virgin Money vs Co-operative Bank App Reviews
| Virgin Money | Co-operative Bank | |
| iPhone Review Score (out of 5) | 4.6 | 4.7 |
| Number of iPhone Reviews | 125,000 | 47,800 |
| Android Review Score (out of 5) | 4 | 4.3 |
| Number of Android Reviews | 23,400 | 33,000 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/co-operative-bank/id1439204021
Virgin Money vs Co-operative Bank Account Fees & Charges
| Virgin Money | Co-operative Bank | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 25 Months | 30 Months |
| Cheapest Monthly Account Fee | No | Free |
| Most Expensive Monthly Account Fee | No | Free |
| Electronic Payment Cost (in/out) | Free | Free |
| Cash Payments Cost (in/out) | 90p per £100 | £1.50 per £100 |
| Cheques (in/out) | 30p per cheque | £1.50 |
| CHAPS Payments Cost | £25 | £25 |
| SEPA Payments Cost | £20 | No |
Virgin Money vs Co-operative Bank Business Savings Rates
| Virgin Money | Co-operative Bank | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Instant access, 35+ day, 95+ day |
| Lowest Savings Rate (AER) | 1.35% | 1.63% |
| Maximum Savings Rate (AER) | 5.15% | 2.51% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | No |
Virgin Money vs Co-operative Bank Account Opening Times
| Virgin Money | Co-operative Bank | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 5 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs Co-operative Bank Features & Account Types
| Virgin Money | Co-operative Bank | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Northern England and Scotland only | Limited locations accross the UK |
Virgin Money vs Co-operative Bank Customer Support Options
| Virgin Money | Co-operative Bank | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
Virgin Money vs Co-operative Bank Foreign Currency Accounts
| Virgin Money | Co-operative Bank | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No | No |
Other Business Services From Virgin Money and Co-operative Bank
| Virgin Money | Co-operative Bank | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | No | No |
| Free Accounting Software | Yes | Yes |
Virgin Money vs Co-operative Bank Banking Basics
| Virgin Money | Co-operative Bank | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 990937 |
| Website | Virgin Money Website | Co-operative Bank Website |
Common Comparison Questions
Does Virgin Money or Co-operative Bank have better customer reviews?
Virgin Money scores 1.4 out of 5 based 6,799 Trustpilot reviews. Of these reviews 5% are 5-star and 89% are 1-star.
Whereas, Co-operative Bank scores 4.2 out of 5 based 7,699 Trustpilot reviews. Of which 51% are 5-star and 39% are 1-star.
Does Virgin Money or Co-operative Bank have a better App?
Virgin Money’s iPhone App is rated 4.6 out of 5 based on 125,000 reviews. And it’s Android App is rated 4 out of 5 based on 23,400 reviews.
In comparison, 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.
Does Virgin Money or Co-operative Bank have better business savings rates?
Virgin Money offers the following types of business savings accounts: Instant access accounts, Notice accounts, Fixed term deposit accounts with interest rates ranging from 1.35% to 5.15%. (AER)
In contrast, Co-operative Bank offers Instant access, 35+ day, 95+ day accounts with interest rates ranging from 1.63% to 2.51% (AER).
See Other Comparisons:Virgin Money vs Aldermore
Virgin Money vs Handelsbanken
Virgin Money vs Anna
Virgin Money vs Hampshire Trust Bank
Virgin Money vs Mettle
For other business bank accounts see our guide here.