Bell will be formally registered on September 1 when the club's transfer embargo is lifted and will be looking to claim the number one jersey after Neil Alexander failed to agree a new deal to remain at Ibrox.
McCoist also has the option of Scott Gallacher, who made his first-team debut against Brora Rangers in a friendly last week, but is still keen for the 24-year-old to go out on loan.
The Light Blues boss told the club's website: "We've got two or three goalkeepers who have been put to us but we've nothing new to report on that front so far.
"I must say big Gall has been looking terrific, he really has, but I still think the best thing for him in the long term would be to go out on loan.
"He needs to get playing and get a good few games. He's definitely improving and we can see there's no doubt about that. But in an ideal world, if we could get another keeper in that would allow Gall to go out on loan. I think he needs a competitive edge for a season or so."
Talks remain ongoing with the representatives of both trialist Bilel Mohsni and Bosnian international Boris Pandza as McCoist seeks to bolster his defence.
He added: "I've been really happy with the way Bilel has played in our games and with the way he has been around the place.
"He has been friendly, he has been terrific in training and terrific with the boys. He has taken to the club really, really well and we're keen to get a deal done.
"We have been in dialogue with Bilel's agent and we are extremely hopeful we can get something done there sooner rather than later.
"It's not done until it's done - that goes without saying - but I would have to say he seems very keen to come and we are certainly very keen to have him.
"We've nothing new on Boris. I've spoken to the player on the phone and he has indicated he wants to come while I've obviously said we are keen to have him.
"We've been talking to his representative and there's a desire on both sides to possibly do something. That would be fantastic if we could do that."