Bank of Scotland and PayPal Debit both offer a range of business banking options. But which is better?
Below we compare Bank of Scotland vs PayPal Debit on 61 different metrics including business savings account rates, current account fees, Trustpilot reviews and many, many more so you can decide for yourself.
Bank of Scotland vs PayPal Debit Business Savings Accounts Comparison
| Bank of Scotland | PayPal Debit | |
| Types of Savings Accounts | Instant Access, 32 or 95 Day Notice Accounts, 3 months to 2 years Fixed Term Accounts | NA |
| Lowest Savings Rate | 0.90% | NA |
| Maximum Savings Rate | 3.41% | NA |
| Minimum Investment Amount | £1 | NA |
| Website | Bank of Scotland Website | PayPal Debit Website |
- Earn 2.25%-3.51% AER.
- Interest paid daily on both work and non-work days
- Add or withdraw money with zero restrictions 24/7
- Earn 3.55% AER (variable)
- Instant access to your money when needed
- No limits or fees on withdrawals
- Earn 3.66% – 4.51% AER.
- Offers a choice of easy access or fixed-term accounts.
- Average independent review score of 4.7 out of 5.
Bank of Scotland vs PayPal Debit Free Business Bank Accounts
Below we look at the free business bank account options Bank of Scotland and PayPal Debit each offer.
Bank of Scotland | PayPal Debit | |
| Free Business Bank Account? | Yes | No |
| Free Business Account Term Length | 12 months | NA |
- Free version available forever
- Hold and exchange 25+ currencies
- IBANs for Global Transfers
- Ability to invest through your account
- Mobile business account, accessible online and on desktop 24/7
- No Monthly Fee
- 24/7 Online banking & Bank app
- Friendly UK phone support
- Xero, Quickbooks & Sage accounting software integration
- FSCS Protected up to £85k
- Basic account is free forever
- Up to £150,000 of credit, straight through the app
- Business Mastercard, with free purchases at home and abroad
- Trusted by 500,000+ UK businesses
- FSCS protected up to £85,000 via Clearbank
Bank of Scotland vs PayPal Debit Fees & Pricing
Bank of Scotland | PayPal Debit | |
| Cheapest Monthly Account Fee | Free | Free |
| Most Expensive Monthly Account Fee | £21 | Not Stated |
| Electronic Payments (in/out) | £9.50 | free |
| Cash Payments (in/out) | £5 / £5 | free |
| Cheques (in/out) | 65p/65p | free |
| Debit Card Payments | Yes | Yes |
| CHAPS Payments | £25 | free |
| SEPA Payments | £2 | free |
Bank of Scotland vs PayPal Debit Account Types
Below we look at the different types of business bank accounts and other types of business finance solutions Bank of Scotland and PayPal Debit offer.
| Bank of Scotland | PayPal Debit | |
| Current Account Switch Service | Yes | Yes |
| Type of Card (Mastercard vs VISA) | Mastercard | Mastercard |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Online Banking | Yes | No |
| Mobile Banking | Yes | Yes |
| In person/Branch Banking | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Services | Yes | No |
| Free Accouting Software | Yes | free |
Bank of Scotland vs PayPal Debit Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| Bank of Scotland | PayPal Debit | |
| US Dollar (USD) Bank Account | Yes | Yes |
| Euro (EUR) Bank Account | Yes | Yes |
| Other Currencies Available | Swiss Franc (CHF), Australian Dollar (AUD), Canadian Dollar (CAD), New Zealand Dollar (NZD), Hong Kong Dollar (HKD), Singapore Dollar (SGD), Japanese Yen (JPY), Chinese Yuan (CNY), | AUD – Australian dollar, BRL – Brazilian real, CAD – Canadian dollar, CHF – Swiss franc, CNY – Chinese yuan, EUR – Euro, GBP – British pound sterling, HKD – Hong Kong dollar, INR – Indian rupee, JPY – Japanese yen, KRW – South Korean won, MXN – Mexican peso, NZD – New Zealand dollar, PHP – Philippine peso, PLN – Polish zloty, RUB – Russian ruble, SGD – Singapore dollar, USD – United States dollar, ZAR – South African rand, |
Bank of Scotland vs PayPal Debit User Reviews
| Bank of Scotland | PayPal Debit | |
| Trustpilot Score (out of 5) | 4.5 | 1.3 |
| Number of Trustpilot Reviews | 711 | 26153 |
| iPhone App Score | 4.8 | 4.8 |
| Number iPhone of Reviews | 251.9K | 6.2M |
| Android App Score | 4.4 | 4.2 |
| Number of Android App Reviews | 41.5K | 2.99M |
Bank of Scotland vs PayPal Debit Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| Bank of Scotland | PayPal Debit | |
| Overall Service Quality Ranking | 9 | Not Rated |
| Overall Service Quality Score | 55% | Not Rated |
| Online And Mobile Banking Services Ranking | 8 | Not Rated |
| Online And Mobile Banking Services Score | 64% | Not Rated |
| SME overdraft and loan services Ranking | 6 | Not Rated |
| SME overdraft and loan services Score | 51% | Not Rated |
| Relationship/account management Ranking | 11 | Not Rated |
| Relationship/account management Score | 52% | Not Rated |
| Service in branches and business centres Ranking | 3 | Not Rated |
| Service in branches and business centres Score | 55% | Not Rated |
Bank of Scotland vs PayPal Debit Overview
Here is some other key data about each bank.
| Bank of Scotland | PayPal Debit | |
| FSCS Protection | Yes, up to £85,000 | No |
| Market Share | 3.53% | 1.00% |
| Bank Type | High Street | Challenger |
| Total Assets | £319.15 billion GBP | £77.19 billion GBP |
| Swift/BIC Code | BOFSGB2SXXX | PPALUS66XXX |
| FCA Number | 183332 | 900003 |
| Company Number | SC327000 | 5237727 |
| Business Customer Phone Number | (0)131 549 8724 | Unknown |
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