THE CO-OPERATIVE BANK P.L.C.
Company Information
- Company Number
- 00990937
- Registered Address
- PO BOX 101, 1 Balloon Street, Manchester, M60 4EP
- Status
- Active
- Employee Count
- 2,677
- Turnover
- £667,000,000
- EBITDA
- £197,000,000
Additional Details
- Company Type
- Public limited Company
- Incorporated On
- 5 October 1970
- Nature of Business
- 64191 - Banks
- Industries
- Financial Services
- Region
- North West
Time to Pay
Payment Timeline
Payment Features
Payment Score History
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jan 2025 - 30 Jun 2025 | 30 Jul 2025 | 18 | 92% | 6% | 2% | 2% |
| 01 Jan 2024 - 30 Jun 2024 | 30 Jul 2024 | 20 | 89% | 7% | 4% | 4% |
| 01 Jul 2023 - 31 Dec 2023 | 30 Jan 2024 | 20 | 88% | 8% | 4% | 3% |
| 01 Jan 2022 - 30 Jun 2022 | 25 Jul 2022 | 39 | 56% | 35% | 9% | 12% |
| 01 Jan 2021 - 30 Jun 2021 | 23 Jul 2021 | 39 | 46% | 44% | 10% | 16% |
| 01 Jan 2020 - 30 Jun 2020 | 28 Jul 2020 | 46 | 53% | 31% | 16% | 19% |
| 01 Jul 2018 - 31 Dec 2018 | 28 Jan 2019 | 43 | 58% | 27% | 15% | 39% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
The Bank’s preferred payment terms are 30 days and this submission reflects 30 days (our most commonly used term).
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
90
Dispute Resolution Process
Disputing an Invoice If the accuracy or completeness of an invoice is in question, a dispute will be filed with the supplier. A dispute can be defined as any discrepancy showing that something might not be true or accurate with the invoice/billing document that may result in the delay of payment. Notifying the Supplier > The supplier should be notified within 7 calendar days from the date the Co-operative Bank’s Accounts Payable department first receive the invoice. > Send an email notice of dispute to the supplier. State in the email that the referenced invoice is being returned for the following reasons: Supplier has not complied with the Accounts Payable Invoice & Credit note requirements policy There is a problem with the invoice provided (for example the Purchase Order number is not clearly detailed) Other > Include the invoice as an attachment to the email. > Maintain email communication and the invoice until the dispute has been resolved. > If the supplier is wrong: ─ Await the new invoice. ─ The baseline date will be the date the new/corrected invoice is first received. > If the Co-operative Bank is in error: ─ The baseline date will be the latter of the original invoice received date or the goods/services received date.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
The Co-operative Bank P.L.C. is a UK-based financial institution that was founded in 1872. It is part of The Co-operative Group and operates as a retail and commercial bank, offering a range of financial products and services to individuals, businesses and charities. The bank has a strong focus on sustainability and ethical banking practices, and strives to make a positive impact on society and the environment.
The bank's sustainability program includes a commitment to responsible lending, supporting local communities, and reducing its carbon footprint. It also offers ethical banking options, such as the Co-operative Bank Ethical Policy which outlines the criteria for investments and lending, and the Co-operative Bank Charity Bond which provides funding to charitable organizations.
The Co-operative Bank offers a variety of products and services including current accounts, savings accounts, mortgages, loans, credit cards, and insurance. It also offers business banking services such as overdrafts, loans, and business savings accounts. The bank also has a range of digital banking services, making it convenient for customers to manage their finances online.
The key people at The Co-operative Bank include CEO Nick Slape and Chairman Bob Dench. The bank's registered office address is 1 Balloon Street, Manchester, M60 4EP. Customers can contact the bank by phone at 03457 212 212 or by visiting their website at www.co-operativebank.co.uk for more information on their products and services. Overall, The Co-operative Bank P.L.C. is committed to providing sustainable and ethical banking options for its customers, while also making a positive impact on society and the environment.
