Bank of Scotland current accounts for January 2021
Need a new home for your everyday cash? Explore Bank of Scotland's wide range of bank accounts.

We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Compare up to 4 providers
Current Accounts With
Guides
Banking Apps
Current Accounts
The Scottish side of Lloyds Banking Group, Bank of Scotland is a big, traditional bank that offers solid benefits and a variety of financial products that can serve different purposes and needs.
Types of current accounts from Bank of Scotland
From a very basic bank account with no overdraft options to a premium option packed with insurance benefits, Bank of Scotland has a full range of current accounts that can suit different people and needs:
Reward and incentive accounts
Although it doesn’t have a dedicated reward account, Bank of Scotland allows you to add a “Vantage” option to every Classic account. If you pay at least £1,000 a month into the account, are in credit and have set up 2 direct debits, you can earn 1.50% interest on balances up to £5,000.
Learn more about reward and incentive accountsPremium accounts
Bank of Scotland’s Platinum account comes for a pretty expensive monthly fee (£19), but it’s the place to go to if you’re looking for a really comprehensive insurance to go with it. It includes travel insurance, mobile phone insurance, breakdown cover and card loss assistance.
Learn more about premium current accountsStudent accounts
It can be difficult to stay in credit if you’re living the student life, so Bank of Scotland gives you a fee-free overdraft up to £1,500. Student accounts are notoriously packed with benefits of all kinds, so don’t forget to compare them and see what’s available out there.
Learn more about student accounts
Children’s accounts
With a Bank of Scotland children’s account, your kids can open an account when they are as young as 11. It comes with a nice interest rate paid on the balance (0.5% up to £2,499.99, the icing on the cake of pocket money) and even a dedicated version of online banking.
Learn more about children’s accounts
The benefits of banking with Bank of Scotland
- Interest rate and rewards. Not many banks pay interest on current account balances, so it’s a perk to take into due consideration. Bank of Scotland also runs Everyday Offers, a programme that gives you cashback when you spend at selected retailers.
- Multiple ways to bank. The main strength of traditional banks is definitely their network of branches – you can always pop in and sort out your stuff in person. However, they’re also getting better at providing a nice online banking website and a decent mobile app. Finally, you can also bank on the phone.
- Mobile banking app. Unlike challenger banks’ apps, it doesn’t have any cool budgeting features, but it looks tidy and clean and allows you to keep track of all your transactions just fine.
- Global acceptance. Bank of Scotland’s debit cards are on the Visa network, so you don’t have to worry about acceptance, even if you go abroad.
- A full range of financial products. Like most big banks, Bank of Scotland offers the full package, from credit cards to mortgages to insurance. It’s ideal if you’d rather have all your financial stuff with the same institution.
Opening an account with Bank of Scotland
To open an account with Bank of Scotland, you’ll have to provide the following information:
- How much you expect to pay in each month.
- Your employment status.
- Your salary details and any assets you have.
- Your nationality/citizenship.
- Your residency status/tax residence status.
- Proof of identity (passport, driver’s licence).
You can open a Bank of Scotland account online or by visiting a branch.
Why should I compare current accounts anyway?
You may think that as long as a current account allows you to have your salary paid in and pay for your daily expenses, and it doesn’t cost much money, it’s got all you need. However, these days current accounts are more sophisticated than that: there are many options that are tailored to different needs, and depending on what your lifestyle looks like, there will be different accounts that can suit you.
Even if you’re just looking for a pretty basic banking tool, there are juicy switching bonuses to grab out there, so it’s always worth taking a look around, especially if your current bank isn’t treating you especially well.
Our verdict
The Vantage option is a standout feature with Bank of Scotland’s current accounts. A good choice if you are regularly in credit.
Frequently asked questions
Yes! There is no limit to the number of accounts you can open. Remember, though, to check out the competition and be wary of opening multiple accounts just to use features like overdrafts.
Yes, it does. If you qualify, you can add the Vantage option to your account to earn interest on your balance. The Bank of Scotland’s children’s account also pays interest on account holders’ balances.
Head to the current account section of Bank of Scotland’s website, pick the account your interested in and you’ll find them towards the bottom of the page.
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.
Valentina Cipriani is a writer at Finder UK. She writes news, features and guides about banking and credit cards, helping people to improve their financial lives. She holds an MA in International Journalism and loves taking complicated topics apart and giving them back to the readers in a clear and easy fashion.
More guides on Finder
- Over a quarter of Brits now have an account with a digital-only bank
Currently over a quarter of Brits (27%) say they have at least one bank account with a digital-only bank. This is a percentage increase of 16% from last year when 23% of Brits said they had an account with a digital bank. It is also over 3 times the amount of Brits who had one in January 2019 (9%).
- How to invest in the Tokyo Stock Exchange from the UK
Find out the cheapest way to buy shares on Asia’s largest stock exchange.
- Business bank accounts for non-UK residents
We’ve put together some tips and information on how to open a business bank account in the UK as a non-resident.
- Business bank accounts for contractors
Contractors usually need a business bank account, so we’ve put together a guide on how to find one that works for you.
- Business bank accounts with overdrafts
Business overdrafts can be a useful safety net, but be aware of fees and charges.
- Land Rover Freelander insurance group
Find out which insurance group the Land Rover Freelander falls under and how much it costs to insure.
- Kia Sorento insurance group
Find out which insurance group the Kia Sorento falls under and how much it costs to insure.
- Peugeot 106 insurance group
Find out which insurance group the Peugeot 106 falls under and how much it costs to insure.
- Abarth 595 insurance group
Find out which insurance group the Abarth 595 falls under and how much it costs to insure.
- Ford Ecosport insurance group
Find out which insurance group the Ford Ecosport falls under and how much it costs to insure.