Bank of Scotland

Bank of Scotland is one of the oldest banks in the UK, with a history dating back to 1695. It has been a subsidiary of Lloyds Banking Group since 2009.

Lloyds Banking Group is listed on the London Stock Exchange and is a member of the FTSE 100.

As well as the Lloyds and Bank of Scotland brands, the group also owns Halifax, MBNA, Scottish Widows and Birmingham Midshires.

Bank of Scotland offers a comprehensive range of banking and insurance products. You can open a current account or savings account and take out a mortgage or personal loan. It also offers credit cards and several insurance products.

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Bank accounts

Ranked 7^th of 30 providers reviewed.

Customer happiness score	63.35%
Customer trust score	61.59%
Complaints performance	68.62%
Transparency rating	76.86%
Fairer Finance score Reviewed Autumn 2023	68%

Breakdown Cover

Ranked 16^th of 31 providers reviewed.

Customer happiness score	48.08%
Customer trust score	55.13%
Complaints performance	62.45%
Transparency rating	76.37%
Fairer Finance score Reviewed Autumn 2023	61%

Car insurance

Ranked 5^th of 49 providers reviewed.

Customer happiness score	68.98%
Customer trust score	71.66%
Complaints performance	71.18%
Transparency rating	74.17%
Fairer Finance score Reviewed Autumn 2023	72%

Credit cards

Ranked 3^rd of 34 providers reviewed.

Customer happiness score	64.06%
Customer trust score	63.38%
Complaints performance	68.85%
Transparency rating	77%
Fairer Finance score Reviewed Autumn 2023	68%

Home emergency cover

Ranked 19^th of 35 providers reviewed.

Customer happiness score	44.61%
Customer trust score	59.31%
Complaints performance	72.3%
Transparency rating	70.46%
Fairer Finance score Reviewed Autumn 2023	62%

Home insurance (building and contents)

Ranked 3^rd of 46 providers reviewed.

Customer happiness score	70.04%
Customer trust score	62.45%
Complaints performance	72.74%
Transparency rating	81.25%
Fairer Finance score Reviewed Autumn 2023	72%

Investing and pensions

Ranked 1^st of 27 providers reviewed.

Customer happiness score	77.59%
Customer trust score	63.56%
Complaints performance	86.22%
Transparency rating	80.51%
Fairer Finance score Reviewed Autumn 2023	77%

Mortgages

Ranked 10^th of 23 providers reviewed.

Customer happiness score	55.92%
Customer trust score	53.32%
Complaints performance	78.96%
Transparency rating	64.14%
Fairer Finance score Reviewed Autumn 2023	63%

Personal loans

Ranked 11^th of 27 providers reviewed.

Customer happiness score	56.29%
Customer trust score	58.49%
Complaints performance	68.7%
Transparency rating	70.07%
Fairer Finance score Reviewed Autumn 2023	63%

Savings Accounts

Ranked 29^th of 53 providers reviewed.

Customer happiness score	52.71%
Customer trust score	60.33%
Complaints performance	68.7%
Transparency rating	79.7%
Fairer Finance score Reviewed Autumn 2023	65%

Cash withdrawal fee in UK (own bank) i	£0.00
Annual fee i	£0.00
Part of FSCS i
Bankers draft/cheque fee i	Not available
Unpaid transaction fee i
Faster Payment limit i	£250,000.00
Maximum cash machine withdrawal per day i	£500.00
Can you use your card to pay for items overseas? i

Foreign cash withdrawal fee i	2.99%
Foreign cash withdrawal additional charge i	£1.50
Foreign purchases fee i	2.99%
Is there a limit on free cash withdrawals? i	No free cash withdrawals

Risk based overdraft? i
Arranged overdraft interest free amount i	£50.00
Arranged overdraft interest rate (representative EAR) i	39.9%

Add-ons, cashback and rewards i	European and UK family travel insurance from AWP Assistance UK Ltd, AA Breakdown Family Cover and Mobile Phone Insurance.
Part of FSCS or international equivalent i

Add-ons, cashback and rewards i	Worldwide AWP Assistance UK travel insurance (including winter sports) for holder & family, AA family breakdown cover (UK), mobile phone insurance from LSG
Part of FSCS or international equivalent i

Arranged overdraft limit i	£2,000.00
Tiered repayment of overdraft i
Switching / sign up incentive i

Representative APR i	22.4%
Annual fee in first year i	£32.00
Using card in Europe charge i	2.95%
Using card worldwide charge i	2.95%

Cover limit for lost keys i	£1,000.00
Courtesy car for duration of repair i
Uninsured driver promise i
Cover for replacing original audio/visual equipment i	Unlimited
Windscreen repair excess i	£25.00
Windscreen replacement excess i	£100.00
Repairs guarantee (years) i	3 years
New car replacement i
Cover limit for stolen keys i	£1,000.00
24hr helpline available i
Courtesy car provided if stolen / total loss i
Vandalism i

Minimum Age i	11
Interest Rate (AER) First Tier i	0.5%
Maximum Balance First Tier of Interest Covers i	£999.99
Maximum Age i	17
Interest Rate (AER) Second Tier i
Maximum Balance Second Tier of Interest Covers i
Interest Rate (AER) Third Tier i
Maximum Balance Third Tier of Interest Covers i
Maximum Cash Withdrawal i	£100.00
Ability to freeze or report a card lost via app? i
Rewards i
Additional information i
Cash Transaction Fee i	0%
Cash Withdrawal Fee i	£0.00
Card Delivery Fee i	£0.00
Replacement Card Fee i	£0.00
Foreign Cash Withdrawal Fee i	£1.50
Foreign Transaction Fee i	2.99%

Account Type i	Easy Access
Interest Rate (AER) i	3.15%
Minimum Opening Balance i	£1.00
Maximum Balance i	£9,000,000.00
Notice Period i
Fixed Term Length i
Minimum Age to Open Account i	0
Maximum Age i	15
Withdrawal Penalty i
Part of FSCS i
Sharia Account i
Additional Opening Criteria i	The adult must have an account with the Bank of Scotland.
Additional Information i	Reverts into Access Saver account on child's 16th birthday.
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i

Duration of 0% balance transfer offer period i	22 or 14 months
Balance transfer fee during promotional period i	1.99% or 3.49%
Representative APR i	23.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.8045%
Risk based? i

Duration of 0% balance transfer offer period i	17 or 12 months
Balance transfer fee during promotional period i	2.99% or 3.49%
Representative APR i	23.9%
Balance transfer rate during promotional period i	0%
Highest balance transfer fee during promotional period (%) i	3.49%
Representative balance transfer rate i	1.8045%
Risk based? i

Duration of purchases offer period i	17 or 12 months
Representative APR i	23.9%
Highest APR i	29.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.8045%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Duration of purchases offer period i	6 months
Representative APR i	23.9%
Highest APR i	29.9%
Purchase rate during promotional period i	0%
Representative purchase rate i	1.8045%
Number of days before interest is charged on purchases i	56 days
Risk based? i

Foreign purchase fee i	2.95%
Foreign withdrawal fee i	5%
Representative APR i	23.9%
Number of days before interest is charged on non-sterling cash transactions i	0 days
Risk based? i
Representative purchase rate i	1.8045%

Representative APR i	10.9%
Highest APR i	17.9%
Representative purchase rate i	0.869%
Risk based? i
Representative balance transfer rate i	0.869%
Representative money transfer rate i	0.869%

Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i	23.9%
Risk based? i
Representative cash transaction interest rate i	1.8045%

Home Security Cover i
Home Emergency Cover limit i	£1,000.00
Internal plumbing and drainage i
Primary Heating System i
Boiler breakdown cover i
Annual boiler service i
Internal gas supply pipe cover i
Pest infestation cover i
Domestic Power supply covered? i
Cover Type i	Add-On
Alternative Accommodation Cover i	£250.00
Unoccupied period i	60
Claims limit i	Unlimited

Theft from outbuildings i	£5,000.00
Matching sets (contents) i	50% of the cost of replacing the undamaged parts
Alternative accommodation cover limit for buildings i	£100,000.00
Protection against inflation (Buildings)
Contents cover limit i	£250,000.00
Money in the home i	£500.00
Visitor's possessions i	Sum insured
Office equipment i	£0.00
Buildings cover limit i	Unlimited
Trace and access i	£5,000.00
Keys/locks if lost or stolen (Buildings) i	Sum insured
Alternative accommodation cover limit for contents i	£25,000.00
Cancellation fee within 14 days i	£0.00
Cancellation fee after 14 days i	£0.00
Contents compulsory excess i	£100.00
Flood excess i	£100.00
Escape of water excess (minimum) i	£100.00
Property owner liability i	£2,000,000.00
Liability to domestic employees i	£10,000,000.00
Liability as a tenant i	£10,000.00
Replace belongings new for old i

Matching sets (Buildings) i	50% of the cost of replacing the undamaged parts
Frozen pipes i
Escape of water excess for buildings i	£100.00
Underground pipes, cables and tanks i	Covered as standard
Selling your home i
Emergency entries i
Accidental damage to drains i
Buildings compulsory excess i	£100.00
Unoccupied period i	60 days
Helpline i
Cancellation fee after 14 days (buildings) i	£0.00
Amendment fee (telephone) i	£0.00
Property owner liability i	£2,000,000.00

Bank of Scotland

Bank accounts

Basic bank accounts

Current accounts

Foreign use bank accounts

Overdrafts

Premium bank accounts

Student bank accounts

Business Credit Cards

Everyday Business Credit Cards

Foreign Use Business Credit Cards

Car insurance

Children's Accounts

Children's Bank Accounts

Children's Savings Accounts

Credit cards

0% balance transfer credit cards

0% purchase credit cards

Foreign use credit cards

Low rate credit cards

Money transfer credit cards

Home emergency cover

Home insurance (building and contents)

Buildings insurance

Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Charge for automatic reinvestment	2% (Max £9.50)
Charge for transferring cash to another platform	£0.00
Early Account Closure Fee (12 months or less)	£0.00
Inactivity Charge	£0.00
Charge for selling holdings if not enough money in account to pay other charges	£9.50
Same Day Payment Charge	£0.00
Cost of receiving paper statements for a year	£0.00
App available i
Charge for telephone/postal share dealing	£25.00

Annual cost of regular payments (drawdown)	£180.00
Fee for setting up drawdown	£0.00
Charge for taking whole pot under triviality rules	£90.00
Charge for withdrawing your tax-free lump sum	£90.00
Cost of adding funds to drawdown, or reviewing flexi-access drawdown (not capped)	£90.00
Charge for purchasing an annuity	£90.00
Charge for telephone/postal share dealing	£25.00
Account closure fee	£0.00
Charge for transferring cash to another platform	£0.00
Charge for transferring investments to another platform i	£0.00
Charge for automatic reinvestment	2% (Max £9.50)
Same Day Payment Charge	£0.00
Cost of receiving paper statements for a year	£50.00

Cost (Year 1) i	£212.67
Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Does the provider have a mobile app?
Charge for selling holdings if not enough money in account for charges	£0.00
Completing paper applications	£0.00
Cash withdrawal by BACs	£0.00
Same day payment/payment by CHAPs	£25.00
Early account closure fee	£0.00
Cost of receiving paper statements for a year	£50.00
Charge for transferring cash to another platform i	£0.00

Cost (Year 1) i	£687.50
Account closure fee	£0.00
Charge for transferring investments to another platform i	£0.00
Charge for selling holdings if not enough money in account for charges	£0.00
Completing paper applications	£0.00
Cash withdrawal by BACs	£0.00
Same day payment/payment by CHAPs	£25.00
Early account closure fee	£0.00
Cost of receiving paper statements for a year	£50.00
Charge for transferring cash to another platform i	£0.00
Does the provider have a mobile app?

Representative APR (on £5,000 loan, 36 month term)	Illustrative rates shown
Unpaid Repayment Fee i	£25.00
Early settlement fee (Days interest)	58 days
Available to new customers? i
Eligibility checker
Minimum borrowing amount	£1,000.00
Maximum borrowing amount	£50,000.00
Minimum borrowing length	12 months
Maximum borrowing length	84 months

Interest Rate (AER) i	4.15%
Minimum Opening Balance i	£2,000.00
What happens at maturity? i	The provider will contact you as the product approaches maturity.
Part of FSCS i
Maximum Balance i	£9,000,000.00
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty i

Interest Rate (AER) i	1.5%
Balance Tiers i	1.45% from £1, 1.50% from £10,000, 1.80% from £50,000
Minimum Opening Balance i	£1.00
Withdrawal Penalty i
Part of FSCS i
Maximum Balance i	£9,000,000.00
Minimum Age to Open Account i	16
Penalty free withdrawals? i
Sharia Account i
Additional Information i	This account will become an Instant Access Savings after 12 months.
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Interest Rate (AER) i	1.05%
Balance Tiers i	1.05% from £1
Minimum Opening Balance i	£1.00
Withdrawal Penalty i	AER drops to 0.30% after four or more withdrawals within 12 months.
Part of FSCS i
Maximum Balance i	£9,000,000.00
Minimum Age to Open Account i	18
Penalty free withdrawals? i
Sharia Account i
Additional Information i	This account will become an Instant Access Savings after 12 months.
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i

Interest Rate (AER) i	5.5%
Maximum Balance i	£3,000.00
Withdrawal Penalty i
Minimum Monthly Investment i	£25.00
Maximum Monthly Investment i	£250.00
Penalty free withdrawals? i
Minimum Opening Balance i	£25.00
Minimum Age to Open Account i	16
Sharia Account i
Part of FSCS i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i	This is a linked product to both existing and new current account customers.
Notice Period i
Fixed Term Length i	1 Year Bond
Additional Information i	Reverts into Instant Access Savings after 12 months.

Interest Rate (AER) i	4.45%
Minimum Opening Balance i	£500.00
What happens at maturity? i	The provider will contact you before the account matures. If you don't instruct them the money will be paid into a variable rate account until you instruct them further or withdraw the funds.
Part of FSCS i
Minimum Age to Open Account i	16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Can you make early withdrawals? i
Withdrawal Penalty (days) i
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i