Bank of Scotland Business Current Accounts

The Bank of Scotland, part of the Lloyds Banking Group, provides personal and business accounts to customers predominantly in Scotland.

Bank of Scotland offers a number of business current accounts – from a standard business account to one aimed specifically at Islamic businesses. Each comes with a variety of benefits and eligibility criteria detailed below.

Business Current Account - Electronic Business Tariff

If you regularly make transactions electronically – at ATMs, through Internet Banking or using automated payment methods like Faster Payments – the Electronic Business Tariff may be your most suitable option. With our Electronic Business Tariff, you’ll only be charged for manual transactions* (eg cash and cheque). If you plan to mostly make electronic transactions each month, this may be the more cost-efficient option. If you plan on using a mixture of cash, cheque and electronic payments, our Business Extra Tariff may be more suitable.

Features and benefits:

  • Free electronic transactions.
  • Free mobile banking.
  • No minimum or maximum deposit
  • Instant access
  • Flexible for unpredicted cashflow and transactions.
  • Chequebook facility
  • Arranged overdraft

    From £0.01 to £5000.00 EAR: 7.66%

School Bank Account

Our School Bank Account has been developed specifically for state-funded schools, academies and those schools on their way to becoming academies. You’ll get free day-to-day banking, interest paid monthly and a specialist education relationship manager available to advise you via telephone or email. We're the approved banking partner for the National Association of School Business Management. We understand the challenges schools face and are in an excellent position to help you make the most of your resources.

Features and benefits:

  • Free day-to-day banking *

    * Free day-to-day business banking applies to state-funded schools only. It is dependent on your school maintaining its full banking with Bank of Scotland, otherwise standard charges apply. Free day-to-day business banking includes electronic payments, cheques, cash, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits. Free electronic payments include Direct Debits, Standing Orders, Debit Card transactions, Lloyds Banking Group/Other Bank ATM Withdrawals and Internet Banking/Phonebank Debits/Credit inc. Bulk Payments.

  • Monthly interest paid on current accounts.
  • Internet Banking with options for multi-person authorisation.
  • A range of deposit accounts available for surplus funds.
  • No charges for returning cheques recalled by the payer’s bank.
  • Optional cash collection by one of a selection of security companies.
  • An optional deferred checking service, helping to avoid delays at branch counters.

Business Current Account - Business Extra Tariff

If you regularly make transactions in-branch – such as paying cheques in or withdrawing money – the Business Extra Tariff may be your preferred option. With our Business Extra Tariff, you’ll be charged for each transaction you make. If you plan on using a mix of cash, cheque and electronic payments, this may be the more cost-efficient option for your business. If you plan on using mainly electronic payments, our Electronic Business Tariff may be more suitable.

Features and benefits:

  • Make transactions online or in-branch.
  • Free mobile banking
  • No minimum or maximum deposit
  • Instant Access
  • Flexible for unpredicted cashflow and transactions
  • Chequebook facility
  • Arranged overdraft

    From £0.01 to £5000.00 EAR: 7.66%

Credit Union Account

We've designed a banking package specifically for community credit unions. Cash deposits are credited the same day and you’ll have immediate access to all cleared funds.

Features and benefits:

  • Cash deposits credited the same day with immediate access to all cleared funds.
  • Cheque and paying-in books available with one or more signatories.
  • Monthly statements on all your accounts.

Treasurers' Account

Our Treasurer's account is for small, non-profit making organisations with a turnover below £50,000. We'll give you free day-to-day banking when you're in credit and our Business Management Team to support you. That way you can spend less time on administration and more time on raising funds and looking after your members or clients.

Features and benefits:

  • Online and by phone

    Manage your Treasurer’s account online 24/7 and by phone.

Business Current Account Standard

Current account for businesses. Simple pricing and free electronic payments. Business support available by phone, in branch or through online guides.

Business Current Account Switcher

Switch to us for a simple Business Current Account that lets you focus on growing your business.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking when you switch.

  • Guaranteed switch in 7 working days

    A guaranteed switch in 7 working days, from when your account is opened using the Current Account Switch Service (CASS).

  • Arranged overdraft

    From £500.00 to £5000.00 EAR: 10.31%

Business Current Account Switcher

Switch to us for a simple Business Current Account that lets you focus on growing your business.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking when you switch.

  • Guaranteed switch in 7 working days

    A guaranteed switch in 7 working days, from when your account is opened using the Current Account Switch Service (CASS).

  • Arranged overdraft

    From £500.00 to £5000.00 EAR: 10.31%

School Bank Account

Our School Bank Account has been developed specifically for state-funded schools, academies and those schools on their way to becoming academies. You’ll get free banking, interest paid monthly and our business management team are available to advise you via telephone or email. We're the approved banking partner for the National Association of School Business Management, so we understand the challenges schools face and in an excellent position to help you make the most of your resources.

Features and benefits:

  • Internet Banking

    Internet Banking with options for multi-person authorisation.

  • Secure cash collection

    Optional cash collection by one of a selection of security companies.

Business Current Account Start Up

We do everything we can to make your first months in business as easy as possible. You'll get access to a range of support, with help available by phone, in branch or online. This account is available for businesses with an anticipated turnover of up to £3 million.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking.

  • Arranged overdraft

    From £500.00 to £5000.00 EAR: 10.31%

Business Current Account Start Up

We do everything we can to make your first months in business as easy as possible. You'll get access to a range of support, with help available by phone, in branch or online. This account is available for businesses with an anticipated turnover of up to £3 million.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking.

  • Arranged overdraft

    From £500.00 to £5000.00 EAR: 10.31%

Business Current Account Standard

Current account for businesses. Simple pricing and free electronic payments. Business support available by phone, in branch or through online guides.

Business Current Account Switcher

Switch to us for a simple Business Current Account that lets you focus on growing your business.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking when you switch.

  • Guaranteed switch in 7 working days

    A guaranteed switch in 7 working days, from when your account is opened using the Current Account Switch Service (CASS).

  • Arranged overdraft

    From £5000.01 to £10000.00 EAR: 10.31%

Business Current Account Switcher

Switch to us for a simple Business Current Account that lets you focus on growing your business.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking when you switch.

  • Guaranteed switch in 7 working days

    A guaranteed switch in 7 working days, from when your account is opened using the Current Account Switch Service (CASS).

  • Arranged overdraft

    From £5000.01 to £10000.00 EAR: 10.31%

Business Current Account Start Up

We do everything we can to make your first months in business as easy as possible. You'll get access to a range of support, with help available by phone, in branch or online. This account is available for businesses with an anticipated turnover of up to £3 million.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking.

  • Arranged overdraft

    From £5000.01 to £10000.00 EAR: 10.31%

Business Current Account Start Up

We do everything we can to make your first months in business as easy as possible. You'll get access to a range of support, with help available by phone, in branch or online. This account is available for businesses with an anticipated turnover of up to £3 million.

Features and benefits:

  • Free banking

    12 months' free day-to-day business banking.

  • Arranged overdraft

    From £5000.01 to £10000.00 EAR: 10.31%

Credit Union Account

Credit unions play an important part in local communities, particularly in providing a springboard for people to move into mainstream banking. That's why we have designed a package of banking services specifically for community credit unions. Cash deposits are credited the same day and you always have immediate access to all cleared funds.

Features and benefits:

  • Cheque and paying-in books

    Access cheque and paying-in books – available with one or more signatories.

  • Free monthly statements

    Free monthly statements.