Start-up and small business account
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.
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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
Estimate how much your current account could cost you with our calculator.
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Make sure you understand the small print.
Switch your business account
A guaranteed switch in 7 working days, from when your account is opened using the Current Account Switch Service.
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.
Independent service quality survey results
Business current accounts
Published August 2021
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 14 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs2). The results represent the view of customers who took part in the survey.
Overall service quality
We asked customers how likely they would be to recommend their business current account provider to other SMEs.
Ranking
The requirement to publish the Financial Conduct Authority Service Quality Information for Business current accounts can be found here.
1Applies to small businesses, including individuals setting up their first business bank account. 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, Bank of Scotland/Other Bank ATM Withdrawals, Internet/Phonebank Debits/Credits, Faster Payment Debits/Credits, Internet Bulk Payments and Automated Credits.