Fees and charges

Your guide to our charges

If you have a personal account at any of our branches, this page tells you everything you need to know about our main fees and charges. You might find it helpful to use it to plan ahead and avoid unnecessary fees.

Unless you pay a monthly maintaining the account fee for an account with added benefits, we don’t normally charge you for everyday banking – providing your account is in credit. There are some events, however, like using your cards outside the UK, where there may be charges. This guide will tell you exactly how the charges work, and when they may be applied.

If you want to use a service we haven’t covered here, we’ll always let you know before you are charged. If we make any changes to fees or services you regularly use we'll always let you know before you're charged.

Information on Business account rates and charges.

Banking charges guide

The following information applies to bank accounts opened from 12th September 2011.

When charges are applied

Different fees are taken from your account at different times. For example, regular fees like monthly account fees will come out of your account at the end of your monthly billing period. This is usually from the second of each month to the first of the next month, but it can vary. If you’d like to check what your monthly billing period is please just ask us in branch, or call us on 0345 721 3141.

There are some charges that are made at the time we provide you with the service, for example, when you use your debit card outside the UK.

Other fees, such as daily arranged overdraft fees, are worked out and charged at the end of each day that you use your arranged overdraft.

If you change an account or service that has a regular fee attached to it, such as a Monthly Maintaining the Account fee, part way through your billing period, you’ll only pay for the time you’ve actually had it.

Current account charges

To check what type of current account you have please see your statement, visit us in branch or call 0345 721 3141.

Type of current account

Monthly Maintaining the Account Fees

Main benefits

Classic, Under 19s and Basic Accounts

Free

  • Free banking for everyday transactions when you are in credit.

Student

Free

  • Fee-free tiered Arranged Overdraft available (subject to application and approval).
  • Special discounts and incentives — which are detailed in your welcome pack.

Graduate

Free

  • Fee-free tiered Arranged Overdraft available (subject to application and approval).

Accounts with extras

We use a range of third party insurance providers for the benefits on these accounts (conditions and exclusions apply). For further details please see the full policy documents.

Type of current account

Monthly Maintaining the Account Fees

Main benefits

Silver

£11.95

An account that gives you everyday banking plus a range of benefits including:

  • AA Roadside Assistance and Accident Management
  • Mobile Phone Insurance
  • European Travel Insurance for you and your family including winter sports cover. All cover stops on the account holder’s 65th birthday
  • £50 fee-free Arranged Overdraft (subject to application and approval)

Platinum

£19

An account that gives you everyday banking plus a range of benefits including:

  • AA Roadside Assistance with Relay, Home Start and Accident Management
  • Mobile Phone Insurance
  • Worldwide Travel Insurance for you and your family including winter sports cover. All cover stops on the account holder’s 80th birthday
  • £300 fee-free Arranged Overdraft (subject to application and approval)

Debit card and Cashpoint® card charges

When you withdraw cash in the UK (whether at an ATM or over the counter)

Charges

Using your debit card or Cashpoint® card at a Bank of Scotland Cashpoint® machine or branch in the UK.

Free

Using your debit card at a non-Bank of Scotland Cashpoint® machine or non Bank of Scotland branch in the UK.

Bank of Scotland does not make a charge but the owner of the machine may. If so, the machine will show you the amount and tell you that it will be taken from your account when you withdraw the cash.

Using your debit card or Cashpoint® card at a Bank of Scotland Cashpoint® machine or branch in the UK.

Charges

Free

Using your debit card at a non-Bank of Scotland Cashpoint® machine or non Bank of Scotland branch in the UK.

Charges

Bank of Scotland does not make a charge but the owner of the machine may. If so, the machine will show you the amount and tell you that it will be taken from your account when you withdraw the cash.

When you use your debit card to purchase foreign currency or travellers cheques in the UK

Charges

From Bank of Scotland branches.

Foreign currency, Pounds and Foreign Currency travellers cheques: No charge

From any other banks, travel agents, bureaux de change and outlets displaying the Visa sign.

Bank of Scotland does not make a charge but the provider of foreign currency or travellers cheques may make a charge.

Withdrawing cash in a currency other than pounds, or withdrawing pounds outside the UK (at a cash machine or over the counter)

Charges

Using your Bank of Scotland debit card or Cashpoint card.

If you use your card to withdraw cash in a currency other than pounds, or to withdraw cash in pounds outside the UK, the amount is converted to pounds on the day it is processed by Visa using the Visa Payment Scheme Exchange Rate. We will charge you a foreign currency transaction fee of 2.99% of the amount of the transaction and a foreign currency cash fee of £1.50 for each withdrawal. Where you elect to allow the cash machine operator/financial service provider to make the conversion to pounds for you, we will only charge a foreign cash fee of £1.50 for each withdrawal. The provider of the foreign currency may make a separate charge for conversion.

When you use your debit card to make a purchase or other transaction (not cash withdrawal, foreign currency or travellers cheque purchase) in a currency other than pounds whether you are in or outside the UK

Charges

Using your Bank of Scotland debit card.

If you use your card to make a purchase in a currency other than pounds, the amount is converted to pounds on the day it is processed by Visa using the Visa Payment Scheme exchange rate on the day. We will charge you a foreign currency transaction fee of 2.99% of the value of the transaction. We will also charge you a foreign currency purchase fee of £0.50p which is not applicable if you use a Platinum or Premier account debit card.

Other services

Service

Charges

If you ask us to stop a cheque (unless the cheque was lost or stolen, when this would be free of charge)

£10

Special cheque presentation — If you ask for a cheque to be ‘express cleared’

£10

Returned cheque — If a cheque you pay into your account is returned to us unpaid by another bank or branch

Free

Statements — We will send you regular account statements which are free of charge

Free

Duplicate statements

£5 for each request for any number of pages

Banker’s draft/cheque (pounds)

£20

CHAPS Payment — when you transfer cleared money to accounts held at any other bank on the same day, to arrive the same day. This will include an advice to the person you are paying when the payment reaches their bank

£25

Payments and deposits outside the UK

Charges

Sending money outside the UK or in a foreign currency

£9.50

Correspondent bank fee

Zone 1 (USA, Canada and Europe (non-EEA)) - £12
Zone 2 (Rest of the world) - £20

International Draft

£20*

Electronic payments received from outside the UK

Receiving a payment up to £100 — £2 fee
Receiving a payment of £100 or over — £7 fee

Cheques received from outside the UK

0.25% of the total pounds value with a minimum charge of £5 and a maximum of £80. (The charges will depend on the way we choose to get payment of the cheques from the paying bank, the amount of the cheque and which country the cheque is from.)

* There is a £20 charge for cancelling an international draft (it also costs £20 to re-issue an international draft). Refund conversions will be made using our standard exchange rate for buying that currency on the day we receive the money.

The Future of Cheques

From 30 October 2017, a new 'Cheque Imaging' clearing process will be introduced for all banks in the UK. This will run alongside the existing '2-4-6' clearing process. The clearing process used will depend on which bank a cheque is deposited with, and the method of deposit.

We will introduce Cheque Imaging gradually, enabling quicker and more convenient ways of depositing cheques, such as via the Mobile Banking app. This is because instead of exchanging physical cheques, banks will  exchange digital images of cheques. In time, the '2-4-6' clearing process will be withdrawn altogether and all pounds cheques will be cleared on the  next working day.

A quicker clearing time also means that when you have written a cheque, money will leave your account sooner than it does under the '2-4-6'  clearing process. You should always ensure you have sufficient funds in your account prior to writing a cheque. 

Cheque Clearing

The table below explains what happens while the cheque is being ‘cleared’ (collected from the other bank). We use one of the two clearing processes:

  • The ‘2-4-6’ process
  • The ‘Cheque Imaging’ process

How the 2-4-6 process works

If you pay a pounds cheque into your account through a Bank of Scotland branch on a Monday, you will see it in your account the same day. It counts towards any interest on Wednesday (2 working days), you can use the money on Friday (4 working days), and we cannot take the payment out of your account after the following Tuesday (6 working days).

Cheque Clearing ProcessWhen will the payment affect any interest or reward payments you get or daily arranged overdraft fee you pay?When will the payment be available to use?When can the cheque be returned unpaid?
Cheques paid in using the 2-4-6 clearing process at a:
  • Bank of Scotland branch counter
  • Cashpoint that accepts cheque payments in
  • Depositpoint (if available)
  • IDM (if available)
From the second working day after we receive the cheque. From the fourth working day after we receive the cheque.

Up to the end of the sixth working day after we receive it even if you have already spent it. It may put you into overdraft.

From then on we cannot take money from your account if the cheque is returned unpaid without your consent, unless fraud has taken place.

How the Cheque Imaging process will work

If you pay a cheque in pounds into your account on a Monday, you will see it in your account the same day. It counts towards any interest and you can use the money on Tuesday by 11:59pm at the latest.

Cheque Clearing ProcessWhen will the payment affect any interest or reward payments you get or daily arranged overdraft fee you pay?When will the payment be available to use?When can the cheque be returned unpaid?
Cheques paid in using the Cheque Imaging process By 11.59pm on the working day after we receive the cheque. From 11.59pm on the working day after we receive the cheque, at the latest. Up to 11.59pm on the working day after we receive the cheque.

Explanation of terms

GROSS RATE means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC.

AER (Annual Equivalent Rate) - the rate if interest was paid and compounded once a year.

Interest rates may vary from time to time. All rates are per annum except where stated.