{"id":412525,"date":"2021-09-15T11:24:08","date_gmt":"2021-09-15T10:24:08","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?page_id=412525"},"modified":"2026-02-17T02:48:12","modified_gmt":"2026-02-17T02:48:12","slug":"bank-of-scotland-platinum-current-account-review","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/current-accounts\/bank-of-scotland-platinum-current-account-review","title":{"rendered":"Bank of Scotland Platinum current account review"},"content":{"rendered":"<p>Based in Edinburgh, Bank of Scotland is Scotland\u2019s oldest bank and was founded back in 1695. It offers a range of different accounts, including its Platinum current account which we review here.<\/p><h3>What is the Bank of Scotland Platinum current account?<\/h3><p>The Bank of Scotland Platinum current account is a packaged account. This means that as well as operating as a normal bank account with an overdraft, it offers a range of perks or benefits. In return, you\u2019ll need to pay a monthly fee of \u00a322.50.<\/p><p>The Platinum account comes with a contactless Visa debit card and can be managed online, in branch, by phone and via the Bank of Scotland\u2019s mobile banking app.<\/p><h3>How does it work?<\/h3><p>As well as enabling you to set up direct debits and standing orders and apply for an arranged overdraft, the Platinum current account offers the following perks:<\/p><ul><li><strong>Worldwide multi-trip travel insurance.<\/strong> For you and your family, including some winter sports cover. Cover stops on your 80th birthday.<\/li><li><strong>AA breakdown insurance.<\/strong> Including roadside assistance, national recovery and at home cover. It covers the account holder and eligible family members.<\/li><li><strong>Mobile phone insurance.<\/strong> Insuring 1 phone on a sole account and 2 on joint accounts. Covers loss, theft, damage or breakdown. Excess of \u00a3100 and no more than 2 successful claims per account holder in any 12-month period.<\/li><li><strong>Card loss assistance.<\/strong> Enabling you to cancel all financial cards and request replacements day or night. You can also register the cards for your family if they live with you, and register your passport and driving licence numbers for easy access if you lose them.<\/li><\/ul><p>On top of this, the account also offers the following features:<\/p><ul><li><strong>Earn interest.<\/strong> Earn 3.00% AER on the part of your balance between \u00a34,000 and \u00a35,000 with the free Vantage add on. You\u2019ll earn 1.50% AER on balances between \u00a31 and \u00a33,999.99. To qualify, you must pay in at least \u00a31,000 a month, stay in credit and pay at least 2 different direct debits from your account each month.<\/li><li><strong>Up to 15% cashback.<\/strong> Earn cashback with Everyday Offers when you pay by credit or debit card or direct debit at selected retailers.<\/li><li><strong>Save the Change.<\/strong> Round up your card payments to the nearest pound to save as you spend.<\/li><\/ul><h3>Who is the account for?<\/h3><p>The Bank of Scotland Platinum current account is suitable for those who are happy to pay a monthly account fee and who will make full use of the benefits on offer.<\/p><p>To be eligible you will need to be at least 18 years old, a UK resident and either an EU national or have permission to stay in the UK for at least 12 months.<\/p><h3>What are the benefits?<\/h3><p>The Platinum account offers a variety of perks which, providing you don\u2019t already have them elsewhere, could come in handy. The account also offers an overdraft for those who dip into the red (the first \u00a350 is interest-free), and pays interest for those who keep their account in credit.<\/p><h3>How to apply<\/h3><p>If you\u2019re a new customer, you can apply by filling in a form online. If you\u2019re an existing customer you can open a new current account or upgrade through Internet Banking.<\/p><p>Alternatively, you can open an account by phone or by visiting your local Bank of Scotland branch.<\/p><h3>Pros and cons of the account<\/h3><div class=\"fin-pros-cons\">\n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Pros<\/h4>\n            <ul class=\"icon-list icon-list--check-circle\">\n                                    <li>Offers a wide range of perks, including travel insurance and breakdown cover.<\/li>\n                                    <li>Opportunity to earn interest on your balance.<\/li>\n                                    <li>\u00a350 interest-free overdraft buffer.<\/li>\n                                    <li>Earn cashback at certain retailers.<\/li>\n                                    <li>Easy to open and manage account online, by phone or in branch.<\/li>\n                                    <li>Can open single or joint account.<\/li>\n                            <\/ul>\n        <\/div>\n    \n            <div class=\"fin-pros-cons__section\">\n            <h4 class=\"fin-pros-cons__heading\">Cons<\/h4>\n            <ul class=\"icon-list icon-list--x-circle\">\n                                    <li>Monthly account fee of \u00a322.50.<\/li>\n                                    <li>Interest is payable only if you meet certain conditions.<\/li>\n                                    <li>Overdrafts over \u00a350 are charged interest at a rate of 39.9% EAR.<\/li>\n                                    <li>You may not make full use of the perks on offer, in which case paying the fee will be wasted.<\/li>\n                            <\/ul>\n        <\/div>\n    <\/div>\n                                    \n<style>\n.tablefade { height: 850px; width: 100%; overflow-x: auto; overflow-y: scroll; }\n.tablefade .luna-table { position: relative; border-left: none !important; }\n.tablefade th:first-child, .tablefade td:first-child { position: sticky; left: 0; background: #ffffff; border-left: 1px solid #d4d3ce; z-index: 2; }\n.tablefade .luna-table td { vertical-align: middle; }\n.tablefade tbody tr:hover td { background-color: #f5f4ef !important; }\n.tablefadeafter { background: linear-gradient(to bottom, rgba(255, 255, 255, 0) 0%, rgba(255, 255, 255, 1) 100%); width: 100%; height: 10rem; margin-top: -10rem; margin-bottom: 4rem; position: relative; pointer-events: none; }\n.tablefade img { min-width: 96px; min-height: 53px; }\n\n.tablefade-filtered { max-height: 500px; width: 100%; overflow-x: auto; overflow-y: auto; }\n.tablefade-filtered .luna-table { position: relative; border-left: none !important; }\n.tablefade-filtered th:first-child, .tablefade-filtered td:first-child { position: sticky; left: 0; background: #ffffff; border-left: 1px solid #d4d3ce; z-index: 2; }\n.tablefade-filtered .luna-table td { vertical-align: middle; }\n.tablefade-filtered tbody tr:hover td { background-color: #f5f4ef !important; }\n.tablefadeafter-filtered { background: linear-gradient(to bottom, rgba(255, 255, 255, 0) 0%, rgba(255, 255, 255, 1) 100%); width: 100%; height: 3rem; margin-top: -3rem; margin-bottom: 4rem; position: relative; pointer-events: none; z-index: 5; }\n\n.lightbox { display: none; position: fixed; z-index: 9999; left: 0; top: 0; width: 100%; height: 100%; background-color: rgba(0, 0, 0, 0.8); }\n.lightbox img { display: block; max-width: 90%; max-height: 90%; margin: auto; position: absolute; top: 50%; left: 50%; transform: translate(-50%, -50%); }\n<\/style>\n\n                                \n    \n\n<div id=\"lightbox\" class=\"lightbox\" onclick=\"closeLightbox()\">\n  <img decoding=\"async\" id=\"lightbox-img\" src=\"\" alt=\"Expanded Finder Badge\" loading=\"lazy\">\n<\/div>\n\n<script>\n  function openLightbox(event, imageUrl) {\n    event.preventDefault();\n    const lb = document.getElementById('lightbox');\n    const lbImg = document.getElementById('lightbox-img');\n    if(lb && lbImg) {\n        lbImg.src = imageUrl;\n        lb.style.display = \"block\";\n    }\n  }\n  function closeLightbox() {\n    const lb = document.getElementById('lightbox');\n    if(lb) lb.style.display = \"none\";\n  }\n<\/script><h3>Frequently asked questions<\/h3><ul class=\"luna-accordionGroup accordionGroup\">\n\t<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000000\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000000\">\n                <span class=\"luna-accordion__title\">Is my money protected by the Financial Services Compensation Scheme?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000000\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>Yes, funds held with Bank of Scotland are protected up to \u00a3120,000 per person under the FSCS. However, keep in mind that this limit is applied to the total deposits you have with any of the following: Halifax, Intelligent Finance, Birmingham Midshires, Bank of Scotland, Bank of Scotland Private Banking, and Bank of Wales.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000001\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000001\">\n                <span class=\"luna-accordion__title\">How does the cashback feature work?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000001\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>To be eligible for Everyday Offers you need to be over 18 and registered for Internet Banking. Once you've activated Everyday Offers, you simply activate each offer to earn cashback on your next purchase.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n<li class=\"luna-accordion\" data-accordion=\"accordion\">\n    <div class=\"luna-accordion__summary\">\n        <h4 class=\"luna-accordion__heading\">\n            <button class=\"luna-accordion__action collapsed\" aria-expanded=\"false\" aria-controls=\"faq-builder-0000000002\" data-toggle=\"collapse\" data-target=\"#faq-builder-0000000002\">\n                <span class=\"luna-accordion__title\">How do I earn interest on my balance?<\/span>\n                <svg class=\"luna-icon\" aria-hidden=\"true\">\n                    <use xlink:href=\"#chevron-down\" data-accordion-icon=\"show\"><\/use>\n                    <use xlink:href=\"#chevron-up\" data-accordion-icon=\"hide\" class=\"is-hidden\"><\/use>\n                <\/svg>\n            <\/button>\n        <\/h4>\n    <\/div>\n    <div class=\"luna-accordion__details collapse\" aria-hidden=\"true\" id=\"faq-builder-0000000002\" data-accordion=\"details\">\n        <div class=\"accordionContent\">\n            <div>\n                <p>To earn interest on your balance, you'll need to select the Vantage add-on when you apply for your account. You'll then need to pay at least \u00a31,000 into your account each calendar month, stay in credit, and pay at least 2 different direct debits from your account each month.<\/p>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/li>\n\n<\/ul>\n<article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">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 <a href=\"https:\/\/www.finder.com\/uk\/terms-of-use\" class=\"fin-text-navy\">terms of use<\/a>. 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 is provided by Defaqto. In other cases, Finder has sourced data directly from providers.<\/div><\/article>","protected":false},"excerpt":{"rendered":"<p>If you\u2019re happy to pay a monthly fee, discover what the Bank of Scotland Platinum current account has to offer. <\/p>\n","protected":false},"author":1047,"featured_media":315911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[3763],"tags":[],"asset_tag":[],"class_list":["post-412525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-accounts"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of Scotland Platinum current account review- Finder UK<\/title>\n<meta name=\"description\" content=\"Learn more about the Bank of Scotland Platinum current account which offers a range of benefits and perks in return for a monthly fee.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/uk\/current-accounts\/bank-of-scotland-platinum-current-account-review\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of Scotland Platinum current account review\" \/>\n<meta property=\"og:description\" content=\"Learn more about the Bank of Scotland Platinum current account which offers a range of benefits and perks in return for a monthly fee.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.finder.com\/uk\/current-accounts\/bank-of-scotland-platinum-current-account-review\" \/>\n<meta property=\"og:site_name\" content=\"Finder UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/findercomuk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-15T10:24:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2020\/06\/Bank_of_Scotland_250x250.png\" \/>\n\t<meta property=\"og:image:width\" content=\"250\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Rachel Wait\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/rachelwait?lang=en\" \/>\n<meta name=\"twitter:site\" content=\"@findercomUK\" \/>\n<meta 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month more than 2 million unique visitors turn to Finder to save money and time, and to make important life choices. We compare everything from bank accounts, personal loans, investing platforms and much more.\",\"email\":\"heythere@finder.com\",\"legalName\":\"Finder\",\"foundingDate\":\"2006-01-01\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"51\",\"maxValue\":\"200\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/person\/531b4649d053a94fb7388e896df73218\",\"name\":\"Rachel Wait\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/2025\/12\/RachelWaitF1_Supplied_600x600.png\",\"contentUrl\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/2025\/12\/RachelWaitF1_Supplied_600x600.png\",\"caption\":\"Rachel Wait\"},\"description\":\"Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time.\",\"sameAs\":[\"https:\/\/twitter.com\/rachelwait?lang=en\",\"https:\/\/www.linkedin.com\/in\/rachel-wait-00463013\/\",\"https:\/\/muckrack.com\/rachel-wait\"],\"url\":\"https:\/\/www.finder.com\/uk\/author\/rachelwait\",\"jobTitle\":\"Writer\",\"worksFor\":{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.finder.com\/uk\/#organization\",\"name\":\"Finder\"}},{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"name\":\"Frequently Asked Questions\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Is my money protected by the Financial Services Compensation Scheme?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"\\rYes, funds held with Bank of Scotland are protected up to \u00a3120,000 per person under the FSCS. However, keep in mind that this limit is applied to the total deposits you have with any of the following: Halifax, Intelligent Finance, Birmingham Midshires, Bank of Scotland, Bank of Scotland Private Banking, and Bank of Wales.\\r\"}},{\"@type\":\"Question\",\"name\":\"How does the cashback feature work?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"\\rTo be eligible for Everyday Offers you need to be over 18 and registered for Internet Banking. Once you've activated Everyday Offers, you simply activate each offer to earn cashback on your next purchase.\\r\"}},{\"@type\":\"Question\",\"name\":\"How do I earn interest on my balance?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"\\rTo earn interest on your balance, you'll need to select the Vantage add-on when you apply for your account. 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