The Co-operative Bank is set to transition its customers to Coventry Building Society as part of a £780 million deal that follows Coventry’s acquisition of the bank in January 2025. The planned transfer, which requires approval from the High Court, is scheduled to take effect on January 1, 2027.

Under the arrangement, existing Co-operative Bank account holders, including users of the digital banking service Smile, will see their accounts and financial products managed by Coventry. Despite the operational shift, both the Co-operative Bank and Smile brands are expected to remain in use pending the ongoing review of the company’s branding strategy.

A spokesperson for the Co-operative emphasized that the process is being approached carefully to ensure a smooth transition. Customers will continue to receive communications featuring the Co-operative Bank and Smile names; however, these will include Coventry Building Society branding in the footer to reflect the new backend management.

Co-operative Bank customers will receive notifications regarding the change via letter or email in the coming months. The account terms and conditions are expected to align with Coventry’s systems upon completion of the transition. Coventry Building Society’s existing customers will not experience any changes as a result of this transfer.

The move represents a significant step in consolidating operations following Coventry’s merger with the Co-operative Bank, as the two entities work toward integration under the new ownership structure. The High Court’s approval remains a key milestone for finalizing the customer transfer and ensuring regulatory compliance.