Co-op Bank Merchant Services Reviews: UK Fees & Pricing

The Co-op does not offer it’s own Merchant Services instead working with First Data (now Fiserv). Therefore this page is no longer being updated.

The Co-operative Bank can trace its roots back to 1872, when the Loans and Deposits Department of the Co-operative Wholesale Society was founded. Today the company provides high street and internet banking, and it has joined forces with First Data to provide its business customers with merchant services.

Sections

Co-operative Bank Merchant Services Credit Card Processing & Payment Services

Co-Operative Bank Merchant Services has partnered with First Data. They provide credit card and payment solutions for every type of business, from SMEs to multinationals and financial institutions, whether in store, online, by telephone or email. First Data accepts every credit and debit card option, including:

MasterCard
Visa
Diners Club International
American Express
Discover Network
PIN-based and signature debit cards

The company encourages their customers to tell them if there is a card which the company does not accept, so they can include it.

Other Co-operative Bank Merchant Services Products and Services

Through First Data, Co-operative Bank Merchant Services are able to offer their customers an exceptionally wide variety of products and services, including many add-ons to standard contracts.

Clover Station – comes with integrated loyalty and reward scheme apps, ideal for restaurants
Clover Mobile – for selling on the move
Clover Mini – Fulfils multiple rolls without taking up counter space
Clover Station – Retail EPOS system
Google Wallet – allowing business owners to accept mobile payments
Multiple terminals, one solution – run multiple terminals through one connection.
Business Track and ClientLine – real time information plus historical data
Dynamic Currency Conversion
Tax-free Shopping refund service

Co-operative Bank Merchant Services Pricing & Fees

Co-operative Bank Merchant Services and First Data don’t list any of their pricing or fees online. These must be obtained from Co-operative Bank.

To see how they compare, have a look at: UK Merchant Account and Credit Card Processing Fee Comparison.

Co-operative Bank Merchant Services Features

Fraud screening
Accepts all major credit and debit cards
Transaction approval in 1.9 seconds or less
Compliance with PCI standards
Transaction data and analytics
Chargeback dispute resolution
Receive e-deposits directly to your bank account
Seamless integration with point of sale software
Ability to offer cash back with a debit card purchase
Virtual gift cards
POS terminal options that can securely and quickly accept any card payment type
Streamlined account management with Business Track

Company Background

The Co-operative Bank can trace its roots back to 1872, when it was part of the Co-operative Wholesale Society. The CWS was started in 1844 by the Rochdale Pioneers. It was a business that was owned by its members and was to work for the common good. In 1863, the North of England Co-operative Wholesale Society was launched by 300 individual co-ops across Yorkshire and Lancashire.

Its aim was to buy and manufacture goods for co-ops. The company has been through many changes since its inception but still champions good causes and was one of the first manufacturing organisations to promote ‘Fair Trade’ for its products.

The Co-operative Bank uses First Data as its merchant services partner. First Data began its life in Omaha, Nabraska in 1971 by providing processing services to the Mid-America Bankcard Association (MABA). The company grew over the next decade and in 1980, American Express bought 80% of the company, purchasing the remaining 20% over the next 4 years. First Data was incorporated in 1989 and went public in 1992.

The company now has a worldwide presence across 118 countries, serving 4000 financial institutions and six million merchants. They have award winning technology which is powered by 23,000 owner-associates worldwide, allowing them to process over 2,800 transactions per second. Over $1.9 trillion goes through them every year and they process 28% of the world’s eCommerce volume.

Co-operative Bank Merchant Services Pros & Cons

There are no online reviews for Co-operative Bank Merchant Services but, as they use First Data, below are the reviews for First Data.

Pros:

Everything is handled in-house
They offer many resources and tools
Many complementary services
Good customer service with knowledgeable staff

Cons:

High fees
Withholding funds and account terminations
Heavy early termination fees
Expensive equipment leases