Business Account for new businesses

We do everything we can to make your first months in business as easy as possible. That’s why we give you 12 months free day-to-day business banking1.

We are currently receiving a high number of Business Current Account applications, so it may take us longer than usual to open your account. After we receive all required information, your account should be open within 4 weeks.

Please note, new customers cannot open a Business Current Account to access the Recovery Loan Scheme. To be eligible for the Recovery Loan Scheme you must be an existing Bank of Scotland business customer for a minimum of 12 months.

Ready to apply?

In order for us to point you in the right direction we need to ask you a question.

We're sorry

To be eligible for the Recovery Loan Scheme you must be an existing Bank of Scotland business customer for a minimum of 12 months.

Take a look at our Coronavirus help page for other useful resources and answers for frequently asked questions.

Switching business accounts

We’ve taken the difficult decision to temporarily stop accepting business account applications from customers looking to switch their banking to us.

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

Easy ways to bank with us

  • Access your account your way via online, telephone or mobile app
  • Everyday support through personalised account alerts
  • Designated business management team to help and support your business

Products to help your business grow

  • Range of borrowing and saving products to help you grow
  • International team can help you expand overseas with confidence
  • Accept card payments in person, online or by phone with Cardnet®

Why Bank of Scotland?

  • 12 months free day-to-day banking1
  • Simple pricing plan with free electronic payments
  • Bespoke guides and reports to support your business

Eligibility

To apply for a Business Account you should:

  • Have annual business turnover under £3million
  • Require the account for business use
  • Be a sole trader, partner or director and be aged 18 or over

Need to know

We have worked with other providers of UK business accounts to help you prepare by agreeing a basic set of information that we’ll need from you. This guide applies to businesses that have a turnover of less than £6.5 million per annum.

UK Finance business account opening guide

  • When your 12 month free banking period ends, there’s a simple price plan with no charge for electronic payments, including withdrawing cash from a cash machine and paying by debit card.

    Monthly account fee

    £7.00

    Electronic payments (in or out)

    Free

    Cash payments (in or out)
    The first £1500 per month.

    £1 per £100

    Cash payments  (in or out)
    Anything over £1500 per month.

    £0.90 per £100

    Cheques (in or out)

    £0.85

    Credit in

    £0.85

  • Make sure you understand the small print.

    Terms and conditions

Current Account Switch Guarantee logo

Switch your business account

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

More about switching
FSCS 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.

1Applies to small businesses, including individuals setting up their first business bank account. Free day-to-day business banking includes cheques, standing orders, cash, UK Sterling Direct Debits, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits. Free electronic payments include UK Sterling Direct Debits, Standing Orders, Debit Card Transactions, Lloyds Bank/Other Bank ATM Withdrawals, Internet/Phonebank Debits/Credits, Faster Payment Debits/Credits, Internet Bulk Payments and Automated Credits.