School Bank Account

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

Business turnover over £3m

Business turnover over £3m

For Academies, Multi-Academy Trusts or for State funded schools with an annual business turnover above £3m, to apply for a School Bank Account 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 with a turnover of £3m+
  • Be an Academy or Multi-Academy Trust
  • Require the account for business use
  • Independent schools, please visit our dedicated page

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.

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.