If you are coming to the end of your mortgage, credit card or loan payment holiday, we will contact you before it ends, there is no need to call us. To help find the right solution for your needs you can use our coronavirus support tools for credit cards and loans and for Halifax mortgages. If you have a Bank of Scotland mortgage, find out more here.

Platinum Account

A current account packed with benefits for only £21 per month.

Platinum card

As the impact of coronavirus (COVID-19) is felt across the UK, customers have been contacting AXA and Bank of Scotland to understand how their travel insurance is impacted. Since the World Health Organisation (WHO) announced that the coronavirus outbreak is a pandemic, this is now a ‘known event’ and means:

  • If you are an existing Platinum account customer and book any travel or holiday after 18 March and before 20 November 2020, your policy will not cover cancellation and early returns related to coronavirus if the Foreign, Commonwealth and Development Office (FCDO) advises against travel because of COVID-19 if that advice existed when you booked your trip
  • If you open a new Platinum account now, any travel or holiday you have booked regardless of the date, or book in the future, will not be covered for cancellation and early returns related to coronavirus if the Foreign, Commonwealth and Development Office (FCDO) advises against travel because of COVID-19 if that advice existed when you booked your trip (please see important information below about changes that will be made from 21 November 2020)

AXA will continue to cover medical costs if you become ill in a country or region the Foreign, Commonwealth and Development Office (FCDO) hasn’t advised against visiting.

If you are an existing customer, please read our FAQs (PDF) to understand your cover in more detail. You can also register, service and check for updates on a claim online.

Please note: AXA are making changes to their travel insurance policy that come into effect 21 November 2020. Some exclusions will be added, and others updated to restrict cover in relation to all pandemics (including COVID-19) and the policy excess amount will increase to £75 per claim per incident. It’s very important to read the AXA Travel Insurance Guide to Changes (PDF), which covers the changes to travel insurance from 21 November 2020.

Open a Platinum Account for £21 per month to take advantage of a range of useful benefits, such as travel insurance and mobile phone insurance, provided by third party suppliers. You can also earn interest on your credit balance by adding Vantage during the application.

Bear in mind that there are other accounts available to you that provide banking facilities without additional benefits, and which do not have a monthly maintaining the account fee.

Features and benefits

In addition to the benefits you get with our Classic Account, our Platinum Account comes with the following added value benefits for £21 a month:

  • Worldwide travel insurance for you and your family including winter sports cover. All cover stops on the account holder’s 80th birthday. Insurance is underwritten by AXA Insurance UK plc.
  • AA breakdown insurance with Roadside Assistance, Relay, Home Start and Accident Management. Cover is provided by Automobile Association Developments Limited ( trading as AA Breakdown Services).
  • Mobile phone insurance administered by Lifestyle Services Group Limited with a single Insurance provider, Assurant General Insurance Limited.
  • Card loss assistance is provided by Citymain Administrators Ltd.

Plus all the great benefits of our Classic Account:

  • Add Vantage to earn 1% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (0.99% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) on balances between £1 and £3,999, and 2% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.98% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) on balances between £4,000 and £5,000. Vantage is free to add to your Platinum Account. Simply add it when you apply. To earn interest, each calendar month you need to pay at least £1,000 into your account, keep your balance above £0, and pay out at least two different direct debits. You won’t earn interest on any balance over £5,000. Interest is paid monthly. If in any month you don’t meet these criteria, you won’t earn any interest but you won’t be charged for having Vantage.
  • From 1 October 2020, the variable rates of interest you can earn on credit balances are changing. The current interest rate of 1.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (0.99% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.), payable on balances from £1 to £3,999.99, is changing to 0.60% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time./grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a. The current rate of 2.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.98% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) payable on the part of any balance from £4,000 up to and including £5,000, is changing to 1.50% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.49% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.). Full details can be found in the Added Value Account with Vantage Conditions (PDF).

  • Access to our Internet Banking and the Mobile Banking app, 24-hour telephone services as well as any of our branches in Scotland.
  • A VISA debit card enabled for contactless payments.
  • Free text message alerts.
  • Eligible account for Save the Change®.

Arranged overdraft

An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.

- Setting up an arranged overdraft is free and you’ll only pay daily arranged overdraft interest if you use more than the interest-free amount of £50.

- If you use your arranged overdraft but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.

  • Applying for an arranged overdraft - When you have applied for this account, at the end of the application you can apply for an arranged overdraft which you can add right away. You can also apply for one later.
  • Amending an arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Internet Banking or Telephone Banking or by visiting your branch. But you must repay anything you owe if you want to remove an arranged overdraft or anything over the new reduced limit you want. You can also apply to increase it. This application won't affect your credit score.
  • Helpful tools - You can use our eligibility checker and cost calculator to check your eligibility and calculate the cost of an arranged overdraft.
  • If you don't have enough money in your account or available arranged overdraft to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.

All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.

Representative Example

A variable representative rate of 67.7% APR

A variable annual interest rate of 39.9% EAREAR is the Equivalent Annual Rate. This is the annual interest rate of an overdraft. This means you are charged over the year based on how often and how much you are overdrawn by, and the effect of compounding it – charging interest on interest already charged. This interest rate does not include any other fees and charges.

Based on Borrowing £1,200

The APR includes monthly maintaining the account fees of £21 and an interest free amount of £50

How much does my overdraft cost in pounds and pence?

As an example, the interest cost of borrowing £500 is:

£2.87 for 7 days

£12.42 for 30 days

£25.18 for 60 days

How does our overdraft compare?

You can use the representative APR to compare with other products or credit providers, this can help you make sure that you chose the right type of borrowing for you.

Useful tools

You can use our calculator to work out how much your anticipated arranged overdraft borrowing would cost over different periods of time.

 

Cost Calculator

You can use our eligibility tool to find out if you are eligible for an arranged overdraft.

 

 

Eligibility Tool

Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances. 

Find out more detailed information on overdrafts such as interest rates, charges and managing your arranged overdraft limit.

  • AXA worldwide travel insurance is underwritten by AXA Insurance UK plc.

    Important - AXA are making changes to their travel insurance policy that come into effect 21st November 2020. Some exclusions will be added, and others updated to restrict cover in relation to all pandemics (including COVID-19) and the policy excess amount will increase to £75 per claim per incident. It’s very important to read the AXA Travel Insurance Guide to Changes, which covers the changes to travel insurance. Since the World Health Organization (WHO) announced that the COVID-19 outbreak is a pandemic this is now a ’known event’ and any travel booked before 21st November will not be covered for cancellation and early returns related to COVID-19. AXA Travel Insurance Guide to Changes (PDF)

    Key benefits and important exclusions for the travel insurance benefit

    Your benefit

    Some key Benefits

    Some Important Exclusions

    Your benefit

    Travel Insurance

    Some key Benefits

    • Covers certain Winter Sports
    • Covers UK leisure travel when two or more consecutive nights accommodation is booked
    • Comprehensive cover including:
      • Emergency medical cover (up to £10,000,000)
      • Cancellation or curtailment cover (up to £5,000)
      • Personal accident cover (up to £30,000)
      • Baggage cover (up to £2,500, £500 of which for valuables)
      • Travel disruption cover (up to £5,000)
    • Multi-trip Worldwide travel cover for you and your family (includes, if eligible, your spouse, civil partner or partner and children).

    Some Important Exclusions

    • Children must travel with you, your spouse, partner or civil partner or a responsible adult
    • The standard maximum trip duration is 45 consecutive days (for Winter Sports maximum 31 days cover in any calendar year)
    • £40 excess may apply
    • Medical conditions that you and anyone to be covered have, or have had, if they are not all on the ‘No Screen Conditions’ list must be declared and cover agreed with the insurer (there may be an additional premium if the insurer agrees to cover the condition(s))
    • All cover stops on your 80th birthday. As long as you are under 80 your spouse, civil partner or partner will also be covered until they reach 80.

    Keep in mind the cover is provided whilst you are a United Kingdom resident and are registered with a medical practitioner in the United Kingdom.

    Read the policy document for full details and exclusions (PDF)

    We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.

    Claims and assistance

    If you’re abroad and you need assistance, you can call our 24-hour assistance helpline on +44 1633 815 819.

    If you need to make a claim, all you need to do is call Platinum Membership Services on 0345 602 1222.

    AA Breakdown Cover is provided by Automobile Association Developments Limited (trading as AA Breakdown Services).

    Key benefits of AA breakdown cover

    Your benefit

    Some key benefits

    Your benefit

    AA Breakdown Cover

    Some key benefits

    • Roadside Assistance
    • Accident Management
    • Customer covered, not the vehicle
    • Service is only available in the UK, Channel Islands and Isle of Man
    • Home Start
    • Relay

    Read the policy document for full details and exclusions (PDF)

    We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.

    Assistance and emergencies

    If you break down on the road, call the AA direct on 0800 980 5792 or Platinum Membership Services on 0345 602 1222.

    Mobile phone insurance is administered by Lifestyle Services Group Limited with a single insurance provider, Assurant General Insurance Limited.

    Benefits and important exclusions for mobile phone insurance

    Your benefit

    Some key benefits

    Some Important exclusions

    Your benefit

    Mobile Phone Insurance

    Some key benefits

    • Insures one phone on a sole account and two phones from joint accounts
    • Repair or replacement phone up to a maximum of £2,000 (including VAT)
    • Covers loss, theft, damage or breakdown (including faults)

    Some Important exclusions

    • Excess is £100
    • No more than two successful claims per account holder in any 12 month period

    Keep in mind unauthorised network charges are only covered in the event of a successful loss/theft claim.

    Keep in mind you’ll need to pay a contribution of £100 each time you make a successful claim (this is the excess).

    Read the policy document for full details and exclusions (PDF)

    We will also provide you with the Insurance Product Information Booklet (PDF) as part of the account application process.

    It’s recommended that you register your phone details as it may help simplify the process for any claims you might have to make in the future. You only need to call us in the event of a claim in which we will register the details of your phone. Follow these steps to register your mobile phone through Internet Banking:

    • Log into Internet Banking
    • Select the ‘More actions’ button on your Platinum Account
    • Then select ‘View account benefits’ found under the ‘Account information and benefits menu’
    • You can register your phone under the ‘Mobile phone insurance’ section

    You can make a claim by calling Platinum Membership Services on 0345 602 0201

    Card loss assistance is provided by Citymain Administrators Ltd (part of SPB UK & Ireland Group Companies).

    Key benefits of card loss assistance

    Your benefit

    Some key benefits

    Your benefit

    Card Loss Assistance

    Some key benefits

    • With one call day or night, Citymain can request card issuers cancel all financial cards and issue replacements where possible
    • You can register the cards for your family if they live with you
    • You can also register your passport and driving licence numbers with Citymain for easy access should you lose them.

    Read the policy document for full details and exclusions (PDF)

    We recommend you register your cards with Citymain. Call Platinum Membership Services on 0345 602 1222.

New Customer? It’s easy to apply online

Apply today

Existing customer? Open a new current account or upgrade through Internet Banking

Log in to apply

Alternatively, you can phone us or visit us in branch.

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

More information about the Platinum Accounts

Bank of Scotland Bank Account conditions (PDF)

Terms and Conditions

Fee Information Document (PDF)

  • Earn variable credit interest on balances of £1-£5000 by adding Vantage

    Vantage is free to add to your Platinum Account. You could earn 1% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (0.99% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) on balances between £1 and £3,999, and 2% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.98% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) on balances between £4,000 and £5,000. You won’t earn interest on any balance over £5,000. Simply add it when you apply.

    To earn interest, each calendar month you need to pay at least £1,000 into your account, keep your balance above £0, and pay out at least two different direct debits.

    From 1 October 2020, the variable rates of interest you can earn on credit balances are changing. The current interest rate of 1.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (0.99% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.), payable on balances from £1 to £3,999.99, is changing to 0.60% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time./grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a. The current rate of 2.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.98% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) payable on the part of any balance from £4,000 up to and including £5,000, is changing to 1.50% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.49% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.). Full details can be found in the Added Value Account with Vantage Conditions (PDF).

    Interest is paid monthly. If in any month you don’t meet these criteria, you won’t earn any interest but you won’t be charged for having Vantage.

    Visit the Vantage page for more information.

  • A joint account is a simple way for two people to share the same bank account. It gives both members the same ownership rights to the account. As well as:

    • A Visa Debit Card each
    • Joint access to set up and manage online banking
    • One monthly statement
    • If requested a cheque book each

    Opening a joint account

    You have two options when you are looking to open a joint account:


    Online and In-Branch - One of you can get the process started by opening an account online. You will both then need to pop into branch to convert it into a joint account.

    In-Branch - Both of you can open your joint account from start to finish at one of our branches.

    Please ensure you bring the correct forms of identification to your branch appointment - view acceptable forms of identification.

    If you area an existing Bank of Scotland account holder, a bank card can be used as identification.

Making sure you get a fair deal

AER is Annual Equivalent Rate - this illustrates what the interest rate would be if interest was paid and compounded once each year. This allows individuals to compare more easily what return they can expect over time.

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.

Account opening is subject to our assessment of your circumstances and to you meeting all eligibility conditions. You need to be aged 18 years or over, a UK resident and either an EU national or have permission to stay in the UK for at least 12 months. Overdrafts are subject to application and approval and are repayable on demand.

 

Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.