Bank of Scotland

Bank of Scotland current accounts for January 2023

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

4.1 ★★★★★ (77 reviews) Write a review
Finder rating
★★★★★
Expert analysis
Customer rating
★★★★★
Satisfaction survey
Customers in our survey praised the bank's service levels and easy-to-use digital banking
Branches mainly limited to Scotland, which may not be ideal if you're elsewhere in the UK

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.

Compare Bank of Scotland current accounts

1 - 12 of 12
Name Product Ratings Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0%

Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
Min. £1000 Per Month (Minimum two direct debit mandates on account per month)
0.6%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£10 per month
Min. £1000 Per Month (Minimum two direct debit mandates on account per month)
0.6%
N/A
Free travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£10 per month
No minimum funding requirement
0%
N/A
Free travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£21 per month
Min. £1000 Per Month (Minimum two direct debit mandates on account per month)
0.6%
N/A
Free travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£21 per month
No minimum funding requirement
0%
N/A
Free travel accident insurance – covers account holder, partner and dependent children up to 18 years old.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0%

The linked savings account will earn 1% AER/gross variable interest on balances of £1 to £1,000.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0.5%

View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0.5%

View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
Bank of Scotland
Finder score
★★★★★
★★★★★
User survey
★★★★★
★★★★★
£0
No minimum funding requirement
0%
39.9% EAR variable
Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card.
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 39.9% EAR variable.
View details
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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 a surprisingly competitive interest on cash held in the account. The Classic account also offers customers up to 15% cashback with selected retailers when they make purchases with their account’s debit card.
    Learn more about reward and incentive accounts

  • Premium accounts

    Bank of Scotland’s Platinum account comes with a pretty expensive monthly fee (£21), but it’s the place to go to if you’re looking for a really comprehensive insurance package to go with it. It includes travel insurance, mobile phone insurance, breakdown cover and card loss assistance. As with the Classic account, Platinum account holders can also use the Vantage add-on to earn interest on their balance.
    Platinum account holders and current account customers with a Vantage add-on can also take advantage of preferential exchange rates when buying travel money with Bank of Scotland.
    Learn more about premium current accounts

  • Student 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 competitive interest rate paid on the balance (0.5% up to £999, the icing on the cake of pocket money) and even a dedicated version of online banking.
    Learn more about children’s accounts

  • Business accounts

    Bank of Scotland offers a business account for small businesses and start-ups, as well as an account for larger businesses that have an estimated turnover of more than £3 million in the next 12 months. On top of this, it has accounts for schools and community groups, including charities, plus business accounts for professional practices including solicitors, accountants, insurance brokers and estate and managing agents.
    Learn more about business accounts

Bank of Scotland customer reviews

Bank of Scotland was ranked ninth out of 18 current account providers in our independent 2023 customer satisfaction survey. Its users gave the brand 4.5 out of 5 stars and 81% said they’d recommend the current account service. Users highlighted the bank’s feature-laden mobile app and in-branch customer service. Here’s what some of those Bank of Scotland customers had to say in our survey:

“Great in branch customer service and easy to use baking app.”

“Good app and have launched some useful features.”

“They’re good but their interest rates should be higher.”

On the Apple App Store, Bank of Scotland’s mobile banking app scored 4.8 out of 5 stars, based on over 238,000 user reviews. On the Google Play Store, it scores 4.6 out of 5 stars, from a total of only 39,400 reviews (last updated, January 2023).

Pros and cons 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.
  • Only has branches in Scotland. Bank of Scotland’s only physical branches in the UK are in Scotland.

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. If Bank of Scotland’s current accounts are not for you, you can also compare other current accounts here.

Frequently asked questions

Banking ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

The customer satisfaction score ("Customers say") is based on a survey of 2,944 customers carried out in December 2022.

Learn the details of our methodology and scoring.

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.

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