News

We’d like to let you know that changes to the standard terms and conditions of Coop credit cards for private clients and of charge credit card agreements for private clients will come into effect on 1 October 2024.

The main changes are as follows:

• The card will now also be able to be used as a virtual card.
• The bank will have the right to terminate the agreement without notice in the event of the account holder running into debt and failing to repay it within the 14 days granted by the bank to do so.
• We’ve refined the wording of the terms and conditions in regard to the bank’s right to refuse to place the credit limit at the account holder’s disposal or issue a new card, emphasising, among other things, that in order for the account holder to remove these restrictions, the bank may require them to submit documents proving their creditworthiness and proper performance of the agreement.
• We’ve clarified the terms and conditions of the bank’s right to extraordinarily terminate the agreement in a situation where a new card is not accepted within the term provided or the bank refuses to issue a new card.
• In the event that a card which was digitalised has become invalid, the replacement card must be re-digitalised. However, such a card doesn’t need to be re-digitalised if a new one is issued due to expiry.

Clients who don’t agree to the changes can terminate their Coop credit card agreement at any time prior to 1 October 2024. If they haven’t informed us of their wish to do so by that date, this will be considered by the bank as them having agreed to the amendments.

The new terms and conditions can be reviewed here.