Switch to us
Switch your current account to Bank of Scotland
Switching your current account to us is now faster and more convenient than ever. Use the Current Account Switch Service to transfer your salary, Direct Debits, standing orders and close your old account all in seven working days. You can even choose the day you want the switch to complete.
Benefits of switching to Bank of Scotland.
- 3 month fee-free arranged overdraft when you switch to us.
Once your 3 month fee-free period ends we will charge a daily arranged overdraft fee. The daily arranged overdraft fee for using your arranged overdraft, over your fee-free amount (if your account has one) is 1p for every full £6 you borrow each day up to £1250, a further 1p for every additional full £7 you borrow each day between £1250 and £2500, and then a further 1p for every additional full £8 you borrow each day over £2500. Arranged overdrafts are subject to application and approval, and are repayable on demand.
- Bank on the Move.
Manage your account conveniently with access to Internet Banking, our award winning Mobile Banking App1 or on your iPad using Express Login.
- With Vantage, earn 1.5% AER (1.49% Gross) variable on your balance of £1 - £5,000.
Simply pay at least £1000 into your account each calendar month, stay in credit (above £0) during the monthly billing period, and pay at least two different Direct Debits from your account each calendar month.
- Earn up to 15% cashback with Everyday Offers from selected retailers.
Also, by choosing It's On Us, each month we give 500 customers up to £500 back on one of their debit or credit card purchases as a way of saying thank you.2
Please note: From the 1st October 2019, we will be changing the interest you can earn on accounts with Vantage. The current interest rate of 1.5% AER/1.49% annual gross variable, payable on balances from £1 up to £5,000, will reduce to:
- 1% AER / 0.99% annual gross variable on balances from £1 up to and including £3,999.99 and will increase to
- 2% AER / 1.98% annual gross variable on the part of any balance from £4,000 to £5,000
Provided you meet the qualifying conditions for credit interest. For details of this change please see the Vantage guide (PDF).
Starting your switch.
Alternatively, call us on 03456 02 52 93 (open Mon-Fri 8am-8pm and Sat 9am-4pm) or make an appointment at your local branch.
How the switching process works.
- Working day 1-2 - Your switch begins – We will contact your old bank and start the process of transferring your payment arrangements to your Bank of Scotland current account.
- Working day 3-5 - We switch your payment arrangements and make sure your Bank of Scotland account is ready for the switch date, which takes a couple of days.
- Working day 6-7 - If you are clearing a debit balance on your old account, check your funds. You will need to make sure there are enough funds in your Bank of Scotland account to cover this transfer.
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
- The service is free to use and you can choose and agree your switch date with us.
- We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
- If you have money in your old account, we will transfer it to your new account on your switch date.
- We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
- If there are any issues in making the switch, we will contact you before your switch date.
- If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
The Current Account Switch Service makes switching from one bank or building society to another simple and stress-free whether you’re a consumer, small charity or small business. You’ll find the main benefits of the service below:
Switch on your terms.
With the Current Account Switch Service you can choose a switch date to suit you. Just make sure you allow a minimum of seven working days.
Simple and stress-free.
The new account provider transfers any existing balance and all existing payment arrangements for you – including those going out (for example Direct Debits and standing orders), those coming in (for example, your salary) and payees you already have set up.
Wide ranging spread of UK banks and building societies are on board.
This means over 99% of UK current accounts are covered by the Current Account Switch Guarantee.
The switching process is the same everywhere.
Every bank and building society offering the service follows exactly the same switch process.
Payments are automatically redirected.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
Backed by a Guarantee.
In the unlikely event that something goes wrong with your switch, the new provider will refund any interest or charges incurred on your old or new account as a result.
A single point of contact.
The whole process will be handled by the bank or building society you are switching to. If you have any questions or concerns, just ask your new provider.
If you’re opening your account and you switch your main current account to Bank of Scotland, we’ll give you an arranged overdraft with no daily arranged overdraft fees for the first three months, subject to status. After this time, daily arranged overdraft fees will apply based on the account you’ve chosen.
How to apply for the arranged overdraft
At the end of your current account application, we may offer you an arranged overdraft. If we do, we’ll tell you the maximum amount you can borrow and you can add it right away. You can also apply for one later.
Arranged overdrafts are repayable in full, on demand, and subject to approval.
Arranged Overdraft Offer Conditions
To qualify for the fee-free offer you must:
- Use the Current Account Switch Service. This service means your old account will be closed and all your payments transferred to your new Bank of Scotland account
- Have not used the offer within the last 12 months
- Have applied, and been approved for, an arranged overdraft on your new Bank of Scotland account
If you use an arranged overdraft of £1,200 on your Classic Account, then we’ll charge you a daily arranged overdraft fee of £2.
1 2014 World Innovation Awards - Innovation in the delivery of financial products (Mobile).
2 To be eligible for Everyday Offers you need to be over 18, have a Bank of Scotland current account, a Bank of Scotland debit and/or credit card and be registered for Internet Banking. Once you’ve activated Everyday Offers, just activate each offer to earn cashback on your next purchase. You can activate 'It’s On Us‘ in the Everyday Offers section of Internet Banking.
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.
You must be 18 or over and a UK resident to apply. Account opening is subject to our assessment of your circumstances and to you meeting all eligibility conditions. Benefits are subject to application and approval.
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly.
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.