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How we picked theseBank of Scotland offers a range of business banking options for small, medium and large businesses, including business and charity 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 new customers also benefiting from no account fee for the first 12 months when they switch their account to Bank of Scotland.
Businesses with an annual turnover of £25 million or less can apply for the main business bank account with Bank of Scotland. If this is your business’s first account, you won’t have to pay an account fee for 12 months – although some transaction fees will still apply. After this, you pay £8.50 a month.
If your business’s annual turnover is under £3 million a year, you can apply for the account in the app, provided you’re a sole trader or the only director of a limited company. If your business turnover is more than £3 million, you’ll need to request a call back from the customer service team to open your account.
Once your account is open, you’ll have access to a relationship team for business help and support and you may be able to apply for a business overdraft or credit card.
Bank of Scotland also offers the following business accounts:
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.
Bank of Scotland also offers an International Trade Portal for free, which provides guidance and education on managing an international business. This applies even if you’re not a Bank of Scotland customer.
Existing customers: 0345 300 0268
New customers: 0345 878 0052
Large businesses (£25m+ turnover): 0345 604 8129
Business internet banking number: 0345 300 2924
Commercial banking online: 0808 202 1390
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There are a number of business banking options available with the Bank of Scotland, depending on the type of business you run, and users can also benefit from a dedicated resource hub. The bank offers an account switching service and no account fee for 12 months 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.
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