The Cash Drawer is a flexible deposit that helps you save money automatically and effortlessly. It offers several saving solutions that support consistent accumulation. The money in the deposit also earns interest, helping your savings grow over time.
You can set up automatic transfers and/or deposit money yourself in the following ways:
With automatic saving, you can choose whether to save from all transactions, only card payments, or only bank transfers. The setup is easy and can be done or changed in the Coop Pank mobile app or internet bank.
Third parties can also deposit money into the Cash Drawer using a standard payment order via bank transfer.
The savings in your deposit will earn 2% interest. We pay this out in accordance with our price list, which you can find here. In calculating interest we take as its basis the balance of the Cash Drawer at the end of each calendar day, the number of days the deposit has been maintained and the calendar year, which is considered to be 365 days. Interest is paid once a month. If the Cash Drawer agreement is terminated prior to the end of a month, no interest is paid for that month.
You can have your savings transferred to your account for use the next day free of charge. If you’d like to use the money straight away, you can do so for a fee as set out in our price list.
Anyone from the age of 7 can get themselves a Cash Drawer deposit.
You’ll find the standard terms and conditions of the Cash Drawer here.
You can maintain your deposit for as long as you like.