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. 

Bank of Scotland
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Gold ribbon: first place

Bank accounts

Ranked 12th of 33 providers reviewed.

Customer happiness 56%
Customer trust 51%
Complaints performance 78%
Transparency rating 73%
Fairer Finance score
Reviewed Autumn 2020
64%
Gold ribbon: first place

Credit cards

Ranked 8th of 29 providers reviewed.

Customer happiness 54%
Customer trust 53%
Complaints performance 78%
Transparency rating 58%
Fairer Finance score
Reviewed Autumn 2020
61%

Home insurance (building and contents)

Ranked 26th of 51 providers reviewed.

Customer happiness 57.79%
Customer trust 53.74%
Complaints performance 65.95%
Transparency rating 64.83%
Fairer Finance score
Reviewed Autumn 2020
61%
Gold ribbon: first place

Personal loans

Ranked 7th of 25 providers reviewed.

Customer happiness 55.77%
Customer trust 52.25%
Complaints performance 77.74%
Transparency rating 76.82%
Fairer Finance score
Reviewed Autumn 2020
66%

Savings accounts

Ranked 23rd of 47 providers reviewed.

Customer happiness 44.81%
Customer trust 48.46%
Complaints performance 77.74%
Transparency rating 82.67%
Fairer Finance score
Reviewed Autumn 2020
63%

Bank accounts

Basic bank accounts

Bank of Scotland

Basic Account

5 stars
Cost scenario i £20.31
Faster Payment limit i £25,000
Maximum cash machine withdrawal per day i £500
Part of FSCS i

Current accounts

Bank of Scotland

Classic Account

4 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £500
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Bank of Scotland

Classic Account with vantage

4 stars
Annual fee i £0
Maximum cash machine withdrawal per day i £500
Part of FSCS i
Cash withdrawal fee in UK (own bank) i £0
Card payment fee (£) i £0
App capability? i

Foreign use bank accounts

Bank of Scotland

Basic Account

1 stars
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

Bank of Scotland

Student Account (Inside Europe)

1 stars
Foreign cash withdrawal fee i 2.99%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.99%
Is there a limit on free cash withdrawals? i

Bank of Scotland

Basic Account (Inside Europe)

1 stars
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

Bank of Scotland

Classic Account

1 stars
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

Bank of Scotland

Platinum Account (Inside Europe)

1 stars
Foreign cash withdrawal fee i 2.99%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.99%
Is there a limit on free cash withdrawals? i

Bank of Scotland

Platinum Account

1 stars
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

Bank of Scotland

Graduate Account

1 stars
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

Bank of Scotland

Graduate Account (Inside Europe)

1 stars
Foreign cash withdrawal fee i 2.99%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.99%
Is there a limit on free cash withdrawals? i

Bank of Scotland

Student Account

1 stars
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

Bank of Scotland

Classic Account (Inside Europe)

1 stars
Foreign cash withdrawal fee i 2.99%
Foreign cash withdrawal additional charge i £0
Foreign purchases fee i 2.99%
Is there a limit on free cash withdrawals? i

Overdrafts

Bank of Scotland

Platinum Account

1 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £50
Arranged overdraft interest rate (representative EAR) i 39.90%

Bank of Scotland

Platinum Account with Vantage

1 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £50
Arranged overdraft interest rate (representative EAR) i 39.90%

Bank of Scotland

Classic Account

1 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 39.90%

Bank of Scotland

Classic Account with Vantage

1 stars
Risk based overdraft? i
Arranged overdraft interest free amount i £0
Arranged overdraft interest rate (representative EAR) i 39.90%

Premium bank accounts

Bank of Scotland

Platinum Account

2 stars
Annual reward and cost scenario i £16.39
Add-ons, cashback and rewards i Worldwide AXA travel insurance (including winter sports) for holder & family; AA breakdown insurance; Mobile phone insurance from LSG; Card loss assistance
Estimated amount of money customers get back (minus annual fee) i £47.99
Part of FSCS or international equivalent i

Bank of Scotland

Platinum Account with Vantage

2 stars
Annual reward and cost scenario i £26.59
Add-ons, cashback and rewards i Worldwide AXA travel insurance (including winter sports) for holder & family; AA breakdown insurance; Mobile phone insurance from LSG; Card loss assistance
Estimated amount of money customers get back (minus annual fee) i £58.19
Part of FSCS or international equivalent i

Student bank accounts

Bank of Scotland

Graduate Account

3 stars
Cost scenario i £20.31
Arranged overdraft limit i Subject to status
Tiered repayment of overdraft i £2,000/£1,500/£1,000 - each year
Switching / sign up incentive i

Bank of Scotland

Student Account

3 stars
Cost scenario i £20.31
Arranged overdraft limit i £2,000
Tiered repayment of overdraft i £2,000/£1,500/£1,000 - each year
Switching / sign up incentive i

Car insurance

Bank of Scotland

Car Insurance (with guaranteed replacement car, keycare and RAC Breakdown)

3 stars
Courtesy car for duration of repair i
Uninsured driver promise i
Cover limit for lost keys i £1,000
24hr helpline available i
New car replacement
Courtesy car provided if stolen / total loss i
Windscreen repair excess i £0
Windscreen replacement excess i £75
Cover limit for stolen keys i £1,000
Cover for replacing original audio/visual equipment i Unlimited
Repairs guarantee (years) i 3 years

Bank of Scotland

Car Insurance

2 stars
Courtesy car for duration of repair i
Uninsured driver promise i
Cover limit for lost keys i £0
New car replacement
24hr helpline available i
Courtesy car provided if stolen / total loss i
Windscreen repair excess i £0
Windscreen replacement excess i £75
Cover limit for stolen keys i £500
Cover for replacing original audio/visual equipment i Unlimited
Repairs guarantee (years) i 3 years

Credit cards

0% balance transfer credit cards

Bank of Scotland

Low Fee 0% Balance Transfer

4 stars
Duration of balance transfer offer period i 22 months
Balance transfer fee during promotional period i 1.99%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.53%

Bank of Scotland

0% Purchase and Balance Transfer

3 stars
Duration of balance transfer offer period i 17 months
Balance transfer fee during promotional period i 2.99%
Representative APR i 19.90%
Risk based? i
Balance transfer rate during promotional period i 0%
Representative balance transfer rate i 1.53%

0% purchase credit cards

Bank of Scotland

0% Purchase and Balance Transfer

4 stars
Duration of purchases offer period i 17 months
Representative APR i 19.90%
Highest APR i 27.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Bank of Scotland

Low Fee 0% Balance Transfer

3 stars
Duration of purchases offer period i 9 months
Representative APR i 19.90%
Highest APR i 27.90%
Risk based? i
Purchase rate during promotional period i 0%
Representative purchase rate i 1.53%
Number of days before interest is charged on purchases i 56 days

Foreign use credit cards

Bank of Scotland

Low Fee 0% Balance Transfer

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.95%
Foreign withdrawal fee i 5%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Bank of Scotland

0% Purchase and Balance Transfer

1 stars
Representative APR i 19.90%
Foreign purchase fee i 2.95%
Foreign withdrawal fee i 5%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 1.53%

Bank of Scotland

Low Rate

1 stars
Representative APR i 9.90%
Foreign purchase fee i 2.95%
Foreign withdrawal fee i 5%
Risk based? i
Number of days before interest is charged on non-sterling cash transactions i 0 days
Representative purchase rate i 0.79%

Low rate credit cards

Bank of Scotland

Low Rate

2 stars
Representative APR i 9.90%
Representative cash transaction interest rate i 0.79%
Representative purchase rate i 0.79%
Risk based? i
Representative balance transfer rate i 0.79%
Representative money transfer rate i 0.79%

Money transfer credit cards

Bank of Scotland

Low Fee 0% Balance Transfer

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 19.90%
Risk based? i
Representative cash transaction interest rate i 1.53%

Bank of Scotland

0% Purchase and Balance Transfer

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 19.90%
Risk based? i
Representative cash transaction interest rate i 1.53%

Bank of Scotland

Low Rate

1 stars
Money transfer rate during promotional period i
Duration of money transfer offer period i
Money transfer fee during promotional period i
Representative APR i 9.90%
Risk based? i
Representative cash transaction interest rate i 0.79%

Home insurance (building and contents)

Bank of Scotland

Home Insurance Comprehensive

4 stars
Escape of water excess i £50
Matching sets i
Theft from outbuildings cover limit i £10,000
24hr helpline i
Alternative accommodation cover limit i £100,000
Cover for keys if lost i Sum insured
Money in the home i £1,000
Replace belongings new for old i

Bank of Scotland

Home Insurance Comprehensive (with Pedal Cycle Cover)

4 stars
Escape of water excess i £50
Matching sets i
Theft from outbuildings cover limit i £10,000
24hr helpline i
Alternative accommodation cover limit i £100,000
Cover for keys if lost i Sum insured
Money in the home i £1,000
Replace belongings new for old i

Bank of Scotland

Home Insurance

2 stars
Escape of water excess i £500
Matching sets i
Theft from outbuildings cover limit i £0
24hr helpline i
Alternative accommodation cover limit i £30,000
Cover for keys if lost i £250
Money in the home i £500
Replace belongings new for old i

Bank of Scotland

Home Insurance (with Pedal Cycle Cover)

2 stars
Escape of water excess i £500
Matching sets i
Theft from outbuildings cover limit i £0
24hr helpline i
Alternative accommodation cover limit i £30,000
Cover for keys if lost i £250
Money in the home i £500
Replace belongings new for old i

Buildings insurance

Bank of Scotland

Home Insurance Comprehensive (with Pedal Cycle Cover)

4 stars
Finding & repairing a leak cover limit i £5,000
Cover for keys if lost i Sum insured
Matching sets i
Alternative accommodation cover limit i £100,000
Cover for keys if stolen i Sum insured
Compulsory excess i £50
Escape of water excess i £50
Property owner liability i £2,000,000
24hr helpline i

Bank of Scotland

Home Insurance Comprehensive

4 stars
Finding & repairing a leak cover limit i £5,000
Cover for keys if lost i Sum insured
Matching sets i
Alternative accommodation cover limit i £100,000
Cover for keys if stolen i Sum insured
Compulsory excess i £50
Escape of water excess i £50
Property owner liability i £2,000,000
24hr helpline i

Bank of Scotland

Home Insurance (with Pedal Cycle Cover)

2 stars
Finding & repairing a leak cover limit i £5,000
Cover for keys if lost i £250
Matching sets i
Alternative accommodation cover limit i £30,000
Cover for keys if stolen i £250
Compulsory excess i £100
Escape of water excess i £500
Property owner liability i £1,000,000
24hr helpline i

Bank of Scotland

Home Insurance

2 stars
Finding & repairing a leak cover limit i £5,000
Cover for keys if lost i £250
Matching sets i
Alternative accommodation cover limit i £30,000
Cover for keys if stolen i £250
Compulsory excess i £100
Escape of water excess i £500
Property owner liability i £1,000,000
24hr helpline i

Contents insurance

Bank of Scotland

Home Insurance Comprehensive (with Pedal Cycle Cover)

4 stars
Theft from outbuildings cover limit i £10,000
Matching sets i
Cover for keys if lost i Sum insured
Cover limit for cycles in the home i £500
Replace belongings new for old i
Alternative accommodation cover limit i £30,000
Money in the home cover limit i £1,000
Cover for keys if stolen i Sum insured
24hr helpline i

Bank of Scotland

Home Insurance Comprehensive

3 stars
Theft from outbuildings cover limit i £10,000
Matching sets i
Cover for keys if lost i Sum insured
Cover limit for cycles in the home i £0
Replace belongings new for old i
Alternative accommodation cover limit i £30,000
Money in the home cover limit i £1,000
Cover for keys if stolen i Sum insured
24hr helpline i

Bank of Scotland

Home Insurance (with Pedal Cycle Cover)

2 stars
Theft from outbuildings cover limit i £0
Matching sets i
Cover for keys if lost i £250
Cover limit for cycles in the home i £500
Replace belongings new for old i
Alternative accommodation cover limit i £20,000
Money in the home cover limit i £500
Cover for keys if stolen i £250
24hr helpline i

Bank of Scotland

Home Insurance

1 stars
Theft from outbuildings cover limit i £0
Matching sets i
Cover for keys if lost i £250
Cover limit for cycles in the home i £0
Replace belongings new for old i
Alternative accommodation cover limit i £20,000
Money in the home cover limit i £500
Cover for keys if stolen i £250
24hr helpline i

Investing and pensions

Fund and Share Accounts (for high frequency trading)

Bank of Scotland

Share Dealing Account

Our ratings for Fund and Share Accounts (for high frequency trading) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.

Fund and Share Accounts (for low frequency trading)

Bank of Scotland

Share Dealing Account

Our ratings for Fund and Share Accounts (for low frequency trading) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.

Self-invested Personal Pensions (SIPPs)

Bank of Scotland

Bank Of Scotland SIPP

Our ratings for Self-invested Personal Pensions (SIPPs) are hosted exclusively on The Times Money Mentor site.

Go there now to find out how we rated this product.