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 banking* and specialist support when you want it.

Opening a Start up Business Current Account – Important Information

Please note, new customers cannot open a Business Current Account to access the Bounce Back Loan Scheme. To access the Bounce Back Loan Scheme, you must have had an account with us before 2 March 2020.

If you manage your business through a Personal Current Account opened before 2 March and want to apply for a Bounce Back Loan do not apply via this page. You will need to open a Business Current Account or a Loan Servicing Account

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.

Ready to apply?

In order for us to point you in the right direction we need to ask you a few questions

We're sorry. 

We are only able to accept Bounce Back Loan applications from customers who had an account with us before 2 March.

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

Easy ways to bank with us

  • Access your account however it suits you
  • Everyday support through personalised account alerts
  • Designated business management team

Products to help your business grow

  • Whether borrowing or saving we have the products and services to help you grow
  • Lloyds Bank Cardnet® allows you to accept card payments in person, online or by phone, with no joining fees
  • Trade abroad with confidence, our international specialists can help you expand overseas

Why Bank of Scotland?

  • 12 months free day-to-day banking*
  • Simple pricing plan with free electronic payments
  • Bespoke guides to support new businesses


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

What you’ll need to open an account

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.

Guide to opening an account

  • 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


    Electronic payments (in or out)


    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)


    Credit in


  • Make sure you understand the small print.

    Terms and conditions

Current Account Switch Guarantee logo

Switching your business account to us

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.

Making sure you get a fair deal

We want to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender, and you, the borrower.

*Applies 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.