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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.
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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:
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 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 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
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
To open an account with Bank of Scotland, you’ll have to provide the following information:
You can open a Bank of Scotland account online or by visiting a branch.
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.
If you’re more the techy type, you may want to take a look at our digital banking section. It features a series of challenger banks that offer slick mobile apps, hassle-free application processes and fee-free spending abroad, for a different kind of banking experience.
