Looking to switch your business account?

Looking to switch your business account?

If your business has an annual turnover of under £25m, you can apply online to switch your business bank account.

Apply now

Digital banking with no account fee for 12 months

After 12 months, there’s a monthly fee of £8.50. Some fees and transaction charges will apply as soon as the account is open.

This offer only applies to the business’s first current account.

 

Is this account right for you?

You must:

  • Be at least 18 years old
  • Be a sole trader, partner or company director
  • Not already have a Bank of Scotland business account for this business
  • Have an annual turnover of less than £25m.

Payment type

Payment type

Introductory offer

No monthly account fee for 12 months

Payment type

Monthly account fee

£8.50 after 12 months

Payment type

Electronic payments in2

Free

Payment type

Electronic payments out2

First 100 a month are free / £0.20 each after that

Payment type

Cash payments (in or out)

£0.85 for every £100 at an Immediate Deposit Machine / £1.50 for every £100 over the counter

Payment type

Cheques (in or out, any amount)

£0.85 at an Immediate Deposit Machine / £1 over the counter

Payment type

Credit paid in at branch or ATM

£0.85

Payment type

Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app 

Free

Payment type

BACS

File submission: £5.50

BACS Item: £0.15 (a set up fee may apply) 

Payment type

CHAPS

£30

Payment type

Sending and receiving money abroad 

Payment type

Balances below £0 (going overdrawn)

Payment type

Other account services

Switching to us is easy

The Current Account Switch Service makes switching current accounts from one UK bank or building society to another simple, reliable and stress-free. It is available to consumers, small businesses, charities and trusts and allows you to choose a switch date that suits you.

Current Account Switch Guarantee (PDF, 65KB)

Current Account Switch Guide (PDF, 71KB)

Borrow up to £25,000 to grow your business

You could borrow up to £25,000 across a Business Overdraft or Business Credit Card when you switch to us. This could help you manage cash flow, grow your business and be ready for any unexpected costs.

**Apply online once your new Business Current Account is set up and you’ll get an instant decision. Eligibility for lending will be assessed as part of a separate application, and there is no guarantee of lending being granted. All lending is subject to status. 

1Electronic payments include:

  • Direct Debits
  • Standing Orders
  • Faster Payments Debits
  • Internet/Phonebank Debits
  • Internet Bulk Payments

**Apply online once your new Business Current Account is set up and you’ll get an instant decision. Eligibility for lending will be assessed as part of a separate application, and there is no guarantee of lending being granted. All lending is subject to status. 

Independent service quality survey results

Business current accounts

 

Published February 2024

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 15 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). 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.

*SMEs include businesses, clubs, charities and societies with an annual turnover/income of up to £25m (exclusive of VAT and other turnover-related taxes).

Ranking

Business current accounts Overall service quality survey results. Ranking 1st place monzo 84%, 2nd place Starling Bank 83%, equal 3rd place Tide 74%, equal 3rd place Handelsbanken 74%, 5th place Metro Bank 65%, 9th place Bank of Scotland 54%

View the full set of results

The requirement to publish the Financial Conduct Authority Service Quality Information for Business current accounts can be found here.