School Bank Account

Designed for state-funded schools and academies based on the things that we know are important to you.

Annual turnover between £0-3 million

Opening or switching a School Bank Account

We’ve taken the difficult decision to temporarily stop accepting new or switcher School Bank Account applications to ensure colleagues can continue to provide vital support to existing customers at this unprecedented time. This also applies to any applications that have already started.

This is undoubtedly going to cause a level of inconvenience, but please be reassured that we’ll either contact you to continue your application, or reinstate the ability to accept new or switcher account applications at the earliest opportunity. Thank you for your understanding at this time.

Annual turnover between £3m-25 million

Opening or switching a School Bank Account

If you are a state funded school or academy with an annual business turnover between £3m-25 million, please complete an enquiry form.

Start enquiry form

Features and benefits

  • Free day-to-day banking1
  • Sector specialists on hand to support you
  • Monthly interest paid on your business account 
  • No charges for returning cheques recalled by the payer’s bank

Eligibility

To apply for a School Bank Account, you should:

  • be a state-funded school or academy (if you are an independent school, please visit our dedicated page)
  • require the account for business use

Need to know

The following guide brings you the essential details and documents you will need to open your account. This guide applies to businesses that have a turnover of less than £6.5 million per annum.

Financial Services Compensation Scheme Logo

Financial Services Compensation Scheme

Eligible deposits with Bank of Scotland plc are protected up to a total of £85,000. Due to FSCS eligibility criteria not all business customers will be covered.

Additional options

1 Free day-to-day business banking applies if you continue to meet our eligibility criteria. This  means you have to be a state funded school or academy. We apply a specialist tariff on our School Bank Account. Our specialist tariff is provided free of charge, however charges for CHAPS, International Payments, Online Channels and other service charges apply. Information on other service charges that apply can be found in the relevant charges brochure.