Business banking, rewarded

These Terms and Conditions explain how this offer works, including who can take part, and what you need to do to receive the payment.

In these terms and conditions “we”, “us” or “our” means Bank of Scotland plc.

1. About this offer

This offer is available to new business customers who apply online for a Business Account between 1 September 2026 and 15 October 2026, subject to the eligibility requirements below.

This offer is also available to customers who switch an existing current account held with another bank to us, using the Current Account Switching Service (CASS), once their new account with us is open.

The Business Account, and any transactions made on the account, will be subject to the account terms and conditions. Fees and charges may apply. 

2. Who can take part

You can take part, if both of the following apply:

• You submit an online application for a new Business Account with us between 1 September 2026 and 15 October 2026. Saved or incomplete applications won’t be eligible.
• You do not already hold a Business Account with us or Lloyds Bank plc. 

3. What you need to do to receive the £200

You’ll qualify for the £200 payment if, by 31 December 2026, we have opened your Business Account (see section 4 for what we mean by ‘open’) and:

You spend at least £100 using your Visa debit card on eligible purchases.

You set up two direct debits from your new account.

Make sure there’s enough money in your account, or that you have an authorised overdraft in place (if available on your account) before you spend on your debit card or your direct debits are taken. If you don’t, your account may go into an unauthorised overdraft, and you may be charged fees and interest as set out in your account terms and conditions.

Eligible debit card spending

Debit card spending means purchases of goods or services using your Visa debit card.

Excluded transactions

• The following do not count towards the £100 spend requirement:
• Cash withdrawals
• Bank transfers made with or without your debit card
• Debt repayments
• Direct debits and standing orders
• Transactions classified as gambling
• Financial services transactions (money transmission orders, purchases of foreign currency or travellers’ cheques and purchases of financial services such as insurance or investments.)
• Cryptocurrency transactions
• Refunds and chargebacks
• Bank charges, fees, interest, and any other non-purchase transactions
• Fraudulent transactions

Direct Debits 

Direct debits must be set up with the organisations you’re paying. 

If you’re switching to us using the Current Account Switch Service (CASS), any active direct debits moved to your new account as part of the switch will count towards the requirement to set up two direct debits from your account.

4. What do we mean by ‘opening your Account’?

Your Business Account is opened on the date we send you your sort code and account number.  This will be after you applied online. 

5. When we’ll pay you

If you meet the eligibility requirements above, we’ll pay £200 into your new Business Account by the end of January 2027.  We’ll email you before we make the payment to let you know when to expect it.

Your Business Account must be open and able to receive payments at the time we try to make the payment.

We can’t pay the £200 into any other account or by cash or cheque.

The £200 payment is made gross, and you’re responsible for paying any tax due on the payment you receive. 

We won’t contact you if your Business Account doesn’t meet the offer requirements.

6. Other important information

• Only one £200 payment is available per customer. If you open more than one account with us, including accounts with Lloyds Bank or Bank of Scotland, we’ll only check the first account you open to see if it meets the offer requirements.
• Only Business Accounts are eligible for this offer. Charity and Community Accounts, and accounts that can’t be opened online (such as School Accounts), are not eligible for the offer.
• Existing customers already holding a Business Account are not eligible for this offer.
• This offer isn’t transferable, and we may change, pause or withdraw it at any time. If you’ve already opened your Business Account when we make a change, or pause or withdraw the offer, it won’t affect you, as long as you meet the offer requirements.
• We won’t cover any fees or interest you incur if your account goes into an unauthorised overdraft as a result of making payments using your Visa debit card or direct debits.
• The £200 payment cannot be exchanged for any other benefits. 
• Our decision on eligibility and payment is final.

1. About this offer

If you open a qualifying Bank of Scotland Business Account and meet Xero’s conditions set out below, Xero are offering Bank of Scotland business customers 6 months’ free access to Xero accounting software (the “Subscription Offer”, and the opportunity to receive an Amazon gift card worth £200 (the “Gift Card Offer”)(and together referred to as the “Offer”).

The Offer is available from 14 July 2026 and will end at 23:59 on 31 March 2027.

2.  What is a qualifying Bank of Scotland Business Account?

The Offer is provided by Xero if you are:

• A UK business customer who is:
  • a new customer opening a Business Account, including where you switch an account from another bank
  • an existing customer opening a Business Account for a new business
  • opening more than one Business Account for separate new businesses, in which case the Offer will apply to each eligible new account.

You can still open the following account types with us, but Xero’s Offer is not available for:

• Charity and Community Accounts
• Secondary Accounts
• Accounts for businesses with turnover over £3m.

3. What are Xero’s Offer conditions?

The Offer is brought to you by Xero, not Bank of Scotland. We are simply letting you know about it because Xero wanted to make it available to our customers. If you decide to accept Xero’s Offer, you will be entering into an agreement directly with Xero, and they will ask you to accept their own terms and conditions for the products/services they provide. This is separate from any relationship you have with us, and we are not responsible for the Offer or anything arising from it.

Full details of Xero’s offer

These are the key conditions we think you should know about before you decide to accept Xero’s Offer:

Eligibility Criteria

• You must be a new customer of Xero and also open a qualifying Bank of Scotland Business Account. The Offer is limited to one Xero offer per qualifying Bank of Scotland Business Account.
• You must be purchasing your first subscription on Xero using the link provided to you in the email you will receive when you open a qualifying Business Account. You will not be eligible for this Offer if you have previously trialled or subscribed to Xero.  This includes if you have an existing or cancelled account with Xero.  
• You will have until 23:59 on 31 March 2027 to purchase your first subscription through Xero.
• The Offer is not available to Accountants or bookkeepers who purchase subscriptions for their clients.

Subscription Offer

• The 100% fee-free discount applies to Xero's price for its Simple, Ignite, Grow, Comprehensive and Ultimate plan subscriptions only. The 100% fee-free only applies to the subscription fee based on the subscription type you have selected and does not apply to additional charges for add-ons, usage, or payment fees.  The Offer cannot be used in conjunction with any other Xero plan offer and cannot be exchanged for any other Xero offer.
• At the end of the Subscription Offer period (i.e. after the 6 month fee-free period), your subscription with Xero will be charged at Xero’s standard rates applicable at that time, for the plan you selected and will auto-renew monthly until cancelled.  You can cancel your Xero subscription through Xero (Cancel a subscription – Xero Central) but please be aware that under Xero’s current terms, you must give Xero one month’s notice to cancel, but you can do so at any time.  Cancelling your Xero subscription does not impact the availability of your Bank of Scotland Business Account(s). 

Gift Card Offer

• Xero have separate terms and conditions relating to the Gift Card Offer 
• To be eligible for the gift card, you must connect your Bank of Scotland Business Account to Xero within 7 months of subscribing.  
• You are not eligible for the £200 Amazon Gift Card if you select Xero’s Simple plan or are on the Simple Plan when the promotion ends and your first paid monthly payment is collected.
• Eligible customers will receive an email from Xero within approximately 10 days of the first paid monthly payment being collected containing access to a link to redeem the £200 Amazon gift card. There is no cash alternative to the gift card.
• You must redeem the gift card within 30 days from the date of receiving the redemption email. After this time, the promotional link will expire and will not be replaced.
• Xero use a third party to provide the gift card and you may need to enter into an agreement directly with Xero’s third-party provider, and that third party provider may ask you to accept their own terms and conditions for the products/services they provide. 

Other important information

• Xero reserves the right to share the information you submit as part of the offer when subscribing with Xero with Xero’s referral partners for the purposes of promotion attribution, fulfilment, and reconciliation, in accordance with Xero's privacy notice. Further details can be found here.
• Any gift card is provided as a business account promotional incentive. The recipient is responsible for determining and accounting for any tax liability arising from receipt or use of the gift card. Neither Bank of Scotland nor Xero provides tax advice. Recipients should seek their own advice where required.

4. What else you need to know

Your Bank of Scotland Business Account is subject to the account terms and conditions. Fees and charges may apply and all our Business Accounts are subject to our usual eligibility checks and approval criteria when opening your new Business Account.

Once your qualifying Business Account is open, we’ll contact you to explain how to redeem the Xero offer and provide a dedicated link that you must use to access the offer from Xero.

Xero’s offer is designed for customers who open the Bank of Scotland Business Account through our online application. If something means your account ends up being opened offline after you started applying online, don't worry - you will still be eligible as long as you meet the offer conditions.