ComparisonLast checked 8 November 2026

Incard vs Co-op Bank: which suits your business?

Incard is an e-money account that pays uncapped cashback on eligible card spend on a £0 plan, with team cards and GBP, EUR and USD IBANs. A business current account with no monthly fee for start-ups and small businesses that bank digitally, with charges for cash and cheques.

By the editorial team. How we make money.

Incard suits you if

You spend thousands a month on cards, especially on advertising, software or travel
You want card cashback, which Co-op Bank doesn't list
You want a euro account, which Co-op Bank doesn't list
You want a US dollar account, which Co-op Bank doesn't list
You're comfortable with safeguarding instead of FSCS cover

Co-op Bank suits you if

You want no monthly fee and bank mostly online or in the app
You rarely handle cash or cheques, which cost £1.50 per £100 or per cheque
You send euro payments, which are free by SEPA
You're a sole trader, partnership, LLP or limited company

What a year of card spending earns you

Incard Free against Co-op Bank's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£600 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Co-op Bank's cheapest plan: no cashback, £0 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. Co-op Bank's cheapest plan: £0 a month.

Why we pick Incard over Co-op Bank for card spend

Card cashback: Incard: Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped. Co-op Bank: Not listed.
Currencies you can hold: Incard: GBP, EUR and USD, with IBANs. Co-op Bank: Not listed.
Card payments in other currencies: Incard: 1.8% on Free, 1.5% on Grow and Plus. Co-op Bank: 2.75%.

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Incard	Co-op Bank
Type and protection	E-money · safeguarded, no FSCS	Bank · FSCS cover
Who can open one	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders	UK sole traders, UK limited companies and LLPs
Cheapest plan	Free: £0 a month	£0 a month
Plans (monthly)	Free £0, Grow £49, Plus from £199	Business Bank Account £0; Business Bank Account Plus £10; Business Directplus £7 after 30 months free
Card cashback	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped	Not listed
Card payments in other currencies	1.8% on Free, 1.5% on Grow and Plus	2.75%
Domestic transfers	100 included on Free, 250 on Grow, then £0.30 each	Free
International transfers	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)	SEPA free; SWIFT £10 online; £6 to receive some payments over £100
ATM withdrawals	2% in the UK, 2.5% abroad	Free in the UK
Cash deposits	Not listed	£1.50 per £100 in or out, at branches or Post Offices
Currencies you can hold	GBP, EUR and USD, with IBANs	Not listed
Accepting card payments	Not listed	Discounted Clover payment terminals

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Incard lists card cashback, a euro account, a US dollar account, cards for your team, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.
Only Co-op Bank lists cash deposits and card payments from customers.

What each one is, and who can open one

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Co-op Bank

The Co-operative Bank p.l.c., registered in England and Wales (990937). It is authorised by the PRA and regulated by the FCA and the PRA (FRN 121885). Eligible deposits are protected up to £120,000 by the FSCS, shared across The Co-operative Bank and smile. The bank proposes to transfer its business to Coventry Building Society on 1 January 2027, subject to court approval; after that, one £120,000 limit would cover the Bank, smile and the Society.

Who can open one: Sole traders, partnerships, limited liability partnerships and limited companies. You and key individuals must be 18 or over, UK resident with a UK business address, free from CCJs, bankruptcy and IVAs in the last six years and from missed personal credit payments in the last six months. Limited companies must have no disqualified director, no insolvency history and no negative net worth in their last accounts. Full Co-op Bank profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries

Our pick for card spend

Open an Incard account

Check the eligibility rules first.

E-money · safeguarded, no FSCS

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