31/07/2025
Virtue signalling alert! We have moved our account to the The Co-operative Bank, which is committed to working with companies that support their community and never financing the companies that pollute our planet, fail to protect human rights or discriminate in their employment policies.
I've thought for a long time that we should be moving to the Co-op but I haven't got round to it because, to be honest, changing bank accounts is a faff, isn't it? But Santander forced my hand somewhat by announcing out of the blue that they are "changing" our account, which apparently is a euphemism for charging more money.
Opening a bank account these days is very different to when we opened our first one in 1999 and I had to put on a suit and have a meeting with an account manager and explain our (let's be honest) wildly optimistic business plan. Nowadays, it's all online and my only interaction with Co-op so far has been via a web portal. Fair enough. Helping organisations to use the internet to streamline their business processes is my bread and butter, so I can't very well complain that it lacks the personal touch. It has all been pretty smooth so far.
Santander, by contrast, were a little more hands-on, but only a little. When I applied for a new business savings account a couple of years back, I had to have two telephone interviews, despite having already had an account with them for more than a decade at that time. Those conversations made it abundantly clear that they had no idea who they were dealing with, so much so that I was sheepishly asked to confirm that I have not been to prison and am not the "crazed gunman" mentioned in a report in the Colchester Gazette in 2008. I'd like it known that I have never even been to Colchester. That guy just has the same name as me. I've been called a lot of things but never a "significant risk" to the public. Apparently Santander's due diligence involves a cursory Google search.
So, I'm glad to be hitching my wagon to a bank that is more aligned with my own values. I ought to have made it a priority a bit sooner. Anyone who wants to find out what makes Co-op an ethical bank (including their policies on animal welfare, climate change, social justice, online safety and active promotion of co-operatives and small businesses) can find out more here: https://www.co-operativebank.co.uk/values-and-ethics/