Close my Business Account
Follow the steps to close an account for your business or organisation.
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If you have a Relationship Manager, please get in touch with them before taking action to close an account.
You may be able to use the online service to close your main Business Account and any additional accounts at the same time, as long as you’re a Full Access User and the only approver for changes to the account.
Use the online service to close your main account and any of these additional accounts:
- Business Accounts
- Charity Accounts
- Community Accounts
- School Bank Accounts
- Client Accounts used to hold client funds
- Savings Accounts including Fixed Term Deposit Accounts, Instant Access Accounts and Notice Accounts
- Accounts for borrowing money, including Loan, Credit and Charge Card Accounts.
Check which accounts you’ll need to close separately
Closing your main bank account will close any other business banking products linked to it. If there’s outstanding borrowing linked your account - like a Business Loan or Business Credit Card - we’ll get in touch to explain the next steps. This may mean it takes a little longer to close your account.
How to close your main and additional accounts at the same time
If you’re a Full Access User, you can close the following additional bank accounts online:
- Additional Business Accounts
- Additional Charity Accounts
- Additional Community Accounts
- Additional School Bank Accounts
- Additional Client Accounts
- Instant Access Accounts.
How to close your additional accounts
How to close accounts with more than one approver
You should only use the form if:
- the account has more than one approver, or
- you can’t close the account online as you aren’t registered for Business Internet Banking or a Full Access User, or
- your business only uses Commercial Banking Online (not Business Internet Banking), or
- you can’t reasonably close your account online for another reason.
If you wish to close a:
- Fixed Term Deposit Account, or
- Notice Account,
you should email bostreasury@bankofscotland.co.uk.
Frequently asked questions
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Please check that the account you want to close is not overdrawn and has a balance between £0 and £10,000. When you close your account, we’ll ask you to nominate another bank account so we can transfer any remaining balance. You can also use your nominated account to settle any upcoming fees, charges or interest linked to the account you’re closing.
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You’ll need to repay any interest and charges before we can close your account.
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You might not be able to close your account online because:
- you’re not a Full Access User – if this is the case, you’ll see a message confirming this, or
- the account can’t be closed online.
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There are some accounts and products that will need to be closed separately:
- Invoice Finance
- Asset Finance
- Factoring
- Products for taking card payments
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You may have opened an account to borrow money which is linked to the account you’re closing. This could be a:
- Credit Card
- Charge Card
- Business Loan
- Business Overdraft.
You’ll need to repay the outstanding balance before we can completely close down your account. We’ll get in touch with you to explain next steps for this, as it may take longer to close your account if you need to repay borrowing.
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You’ll need to check with your new bank. They may be able to arrange an account switch which can move over any direct debits or standing orders which are currently linked to the Bank of Scotland account that you want to close.
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After you’ve requested to close your account, you’ll be given a reference number. We’ll also send you a confirmation by email and SMS.