The Co-operative Bank has extended its free banking introductory offer for new SME customers by a year.
Subject to certain transaction limits and a minimum credit balance of £1,000, new business directplus customers will benefit from 30 months of free everyday banking.
The high street bank has also decided to extend this offer to existing customers who are still in their introductory period.
“Our market-leading introductory offer is another step in improving competition for UK SMEs and supporting them to be better and stronger businesses,” said Donald Kerr, managing director of SME banking at the Co-operative Bank.
“Data shows that the second year of an SME’s life is its most difficult; extending free banking by a year will be an important helping hand which eases pressure for entrepreneurs at a crunch point in their development and provides them with additional support.
“Our aim is to pioneer banking that makes a positive difference to small businesses and we’re ambitious to support SMEs so they can develop not only their bottom lines, but also build a new business that is clear on its values.”
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