THE CO-OPERATIVE BANK P.L.C.
Company number: 00990937
Reporting period:
1 July 2025 to 31 December 2025
Report filed on:
29 January 2026
Approved by:
Richard Hiom
Payment statistics
Average time taken to pay invoices: 18 days
Total value paid:
- within 30 days: £69,795,850 (87%)
- in 31 to 60 days: £8,865,976 (11%)
- in 61 days or more: £1,185,625 (1%)
Invoices paid:
- within 30 days: 88%
- in 31 to 60 days: 11%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £3,479,833
- payments due in the reporting period which have not been paid within the agreed period: 4%
- not made in the reporting period due to a dispute: 9%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
Answer not provided
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
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
90 days
No further comment provided
Any other information about payment terms
The Banks preferred payment terms are 30 days and this submission reflects 30 days (our most commonly used term).
Dispute resolution process
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.
The supplier should be notified by the relevant business contact when a discrepancy has been identified with the submitted invoice
The Bank will send an email notice of dispute to the supplier, as the invoice does not comply with the Accounts Payable Invoice and Credit note Policy.
Within the email the reason for dispute will be stated and that the referenced invoice is being returned for those reasons. Possible reasons for dispute include:-
• Supplier has not complied with the Accounts Payable Invoice & Credit note requirements policy
• There is a dispute with regards to the items invoiced. problem with the invoice provided (for example the Purchase Order number is not clearly detailed)
• Other
We will return the invoice as an attachment to the email. The business area should maintain email communication regarding the invoice until the dispute has been resolved.
If the supplier is wrong:
– A new invoice with current date should be issued from the supplier
– 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.
Bank acknowledging the suppliers right to use late payment legislation to invoice for late payment interest and charges when appropriate.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
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.
No
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.
No
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?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No