Bank of Scotland business bank account comparison and review

Bank of Scotland offers banking solutions for businesses of all sizes as well as extensive educational resources.

3.8 ★★★★★ (124 reviews) Write a review
Bank of Scotland
Finder rating
★★★★★
Expert analysis
Customer rating
★★★★★
Satisfaction survey
Range of business banking options on offer
Branch network mainly limited to Scotland

Bank of Scotland offers business bank accounts across the UK. In this guide, you’ll discover what’s available with Bank of Scotland business accounts and how these accounts compare to the rest of the market.

Compare Bank of Scotland’s business bank accounts

Name Product Account fee Bank transfers Requires credit check Arranged overdraft Accounting integrations Account management Key benefits Business bottom txt Link
Business Account
Business Account
£8.50 per month
£0.01

Up to £5,000 subject to eligibility and application
N/A
Online, app & phone
View details
Clients' Call Account
Free
Free
N/A
Branch, online, app & phone
View details
Treasurers' Account
Free
Free
N/A
Branch, online, app & phone
View details
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1 - 13 of 13
Name Product Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
Bank of Scotland – Term Deposit 4.9.25
5.01% AER fixed
On maturity
£10,000 - £5,000,000
04.09.25
Open via: website, telephone
Go to site
View details
Bank of Scotland – 95 Day Notice Account
4.08% AER variable
Daily
£10,000 - £5,000,000
95 days notice
Open via: website, telephone
Go to site
View details
Bank of Scotland – Fixed Term Deposit
3.6% AER fixed
On maturity
£10,000 - £5,000,000
1 year
Open via: website, telephone
Go to site
View details
Bank of Scotland – Fixed Term Deposit
3.57% AER fixed
On maturity
£10,000 - £5,000,000
274 days
Open via: website, telephone
Go to site
View details
Bank of Scotland – Fixed Term Deposit
3.53% AER fixed
On maturity
£10,000 - £5,000,000
182 days
Open via: website, telephone
Go to site
View details
Bank of Scotland – Term Deposit 5.11.24
3.5% AER fixed
On maturity
£10,000 - £5,000,000
05.11.24
Open via: website, telephone
Go to site
View details
Bank of Scotland – 32 Day Notice Account
2.53% AER variable
Daily
£10,000 - £5,000,000
32 days notice
Open via: website, telephone
Go to site
View details
Bank of Scotland – Fixed Term Deposit
2.02% AER fixed
On maturity
£10,000 - £5,000,000
91 days
Open via: website, telephone
Go to site
View details
Bank of Scotland – Business Instant Access Account
1.31% AER variable
Monthly
£1 - £999,999
Instant access
Open via: website
Go to site
View details
Bank of Scotland – Commercial Designated Client Account
1.31% AER variable
Monthly
£1 - £999,999
Instant access
Open via: telephone
Go to site
View details
Bank of Scotland – Business Banking Instant Access Account
1.31% AER variable
Monthly
£1 - £999,999
Instant access
Open via: website
Go to site
View details
Bank of Scotland – Commercial Undesignated Client Account
1.31% AER variable
Monthly
£1 - £999,999
Instant access
Open via: telephone
Go to site
View details
Bank of Scotland – Commercial Instant Access Account
1.31% AER variable
Monthly
£1 - £999,999
Instant access
Open via: branch, website, telephone
Go to site
View details
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What is Bank of Scotland business banking?

Bank of Scotland offers a range of business banking options for small, medium and large businesses, including business and treasurers’ accounts, mobile and Internet banking, and international banking resources.

Both new and existing businesses can apply for a Bank of Scotland business current account, with smaller businesses also receiving free day-to-day banking services for a limited time when they switch their account to Bank of Scotland.

How does Bank of Scotland business banking work?

Bank of Scotland provides different banking account options to businesses depending on their annual turnover:

Size of business (turnover)Free day-to-day bankingDedicated support
£0-£3m12 months*
£3m-£25mx
£25m+x

*For new businesses only

Bank of Scotland business banking features

  • New current account. Bank of Scotland offers up to 12 months of free day-to-day banking for new businesses that switch their account across.
  • Easy switching. Bank of Scotland guarantees to have your account switched within seven working days.
  • Mobile and online banking. You can access and manage your business bank account for free via app or computer.
  • Business guides and resources. Businesses can access a resource centre that offers guidance on starting and managing a business, paying taxes and preventing fraud as well as industry expertise.
  • International trade portal. Bank of Scotland business customers can access the portal for free.
  • Optional business insurance. You can also apply for business insurance through the broker Arthur J Gallagher and receive a two year fixed premium with certain insurers.

Bank of Scotland international business banking

As well as regular business banking accounts, Bank of Scotland also offers international banking services for businesses looking to trade overseas. This includes making international payments and opening commercial foreign currency accounts as well as importing and exporting.

Existing Bank of Scotland customers can also access its International Trade Portal for free, which provides guidance and education on managing an international business. Non-customers can also start a free 90-day trial.

Bank of Scotland business banking contact details

Existing customers: 0345 300 0268

New customers: 0345 606 0286

Large businesses (£25m+ turnover): 0345 604 8129

Business internet banking number: 0345 300 2924

Commercial banking online: 0808 202 1390

Bank of Scotland business banking customer reviews

Bank of Scotland scored 4.5 out of 5 starts in our 2023 customer satisfaction survey, with 91% of users surveyed saying that they would recommend the bank’s business accounts. Its users highlighted the bank’s strong customer service and friendly staff. Here’s what some of those Bank of Scotland business customers had to say in our survey:

“Always friendly and reliable and I’ve never had an issue with them.”

“The brand is so reliable and offers a customer-friendly service.”

“They have always been helpful and friendly.”

On the Apple App Store, Bank of Scotland’s business banking app scored 3.9 out of 5 stars based on just over 400 reviews. On the Google Play Store, the app scored 3.5 out of 5 stars, from a total of 670 reviews (last updated June 2023).

Pros and cons of Bank of Scotland business banking

Pros

  • Range of business banking options on offer.
  • Account switching service available.
  • Free banking period for new customers.
  • Resource centre for business account holders.

Cons

  • Monthly account charges and other transaction fees.
  • Branch network mainly limited to Scotland.

Customer service information for Bank of Scotland

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict: Is a Bank of Scotland business account worth it?

There are a number of business banking options available with the Bank of Scotland, depending on your business size, and users can also benefit from a dedicated resource hub. The bank offers an account switching service and free banking periods for new customers, but be mindful that monthly fees and transaction charges will apply after that period ends. You can manage your account online and through a mobile app, but if you think you’ll want to visit a branch in person, remember the network is mostly based in Scotland.

Get started by visiting Bank of Scotland’s website and sign up for an account. If you have read this review and decided that Bank of Scotland’s account is not for you, you can also compare other business bank accounts on the market.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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