Bank of Scotland and Santander both offer a range of business banking options. But which is better?
Below we compare Bank of Scotland vs Santander 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 Santander Business Savings Accounts Comparison
| Bank of Scotland | Santander | |
| Types of Savings Accounts | Instant Access, 32 or 95 Day Notice Accounts, 3 months to 2 years Fixed Term Accounts | Instant Access, Business Reward Saver, Fixed Rate Business Bond, Treasurer’s Savings Account |
| Lowest Savings Rate | 0.90% | 0.40% |
| Maximum Savings Rate | 3.41% | 1.40% |
| Minimum Investment Amount | £1 | £1 |
| Website | Bank of Scotland Website | Santander 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 Santander Free Business Bank Accounts
Below we look at the free business bank account options Bank of Scotland and Santander each offer.
Bank of Scotland | Santander | |
| Free Business Bank Account? | Yes | Yes |
| Free Business Account Term Length | 12 months | 18 months |
- 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 Santander Fees & Pricing
Bank of Scotland | Santander | |
| Cheapest Monthly Account Fee | Free | £7.50 |
| Most Expensive Monthly Account Fee | £21 | Free |
| Electronic Payments (in/out) | £9.50 | free |
| Cash Payments (in/out) | £5 / £5 | £200 per day: £1.50/£200 per day: 2% |
| Cheques (in/out) | 65p/65p | |
| Debit Card Payments | Yes | Yes |
| CHAPS Payments | £25 | £25 |
| SEPA Payments | £2 | No fee for uk |
Bank of Scotland vs Santander Account Types
Below we look at the different types of business bank accounts and other types of business finance solutions Bank of Scotland and Santander offer.
| Bank of Scotland | Santander | |
| 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 | Yes |
| Mobile Banking | Yes | Yes |
| In person/Branch Banking | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Services | Yes | Yes |
| Free Accouting Software | Yes | Yes, FreeAgent |
Bank of Scotland vs Santander Foreign Currency Accounts
In this section we look at what types of foreign currency accounts each bank offers.
| Bank of Scotland | Santander | |
| 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), | Swiss Franc (CHF) ,Japanese Yen (JPY) ,Australian Dollar (AUD) ,Canadian Dollar (CAD) ,New Zealand Dollar (NZD) ,Singapore Dollar (SGD) ,Hong Kong Dollar (HKD) |
Bank of Scotland vs Santander User Reviews
| Bank of Scotland | Santander | |
| Trustpilot Score (out of 5) | 4.5 | 1.4 |
| Number of Trustpilot Reviews | 711 | 6204 |
| iPhone App Score | 4.8 | 4.8 |
| Number iPhone of Reviews | 251.9K | 1.1M |
| Android App Score | 4.4 | 3.5 |
| Number of Android App Reviews | 41.5K | 141K |
Bank of Scotland vs Santander Banking Service Quality
Data for this section comes from the BVA BDRC Business banking service quality report.
| Bank of Scotland | Santander | |
| Overall Service Quality Ranking | 9 | 7 |
| Overall Service Quality Score | 55% | 59% |
| Online And Mobile Banking Services Ranking | 8 | 10 |
| Online And Mobile Banking Services Score | 64% | 59% |
| SME overdraft and loan services Ranking | 6 | 6 |
| SME overdraft and loan services Score | 51% | 51% |
| Relationship/account management Ranking | 11 | 8 |
| Relationship/account management Score | 52% | 54% |
| Service in branches and business centres Ranking | 3 | 6 |
| Service in branches and business centres Score | 55% | 50% |
Bank of Scotland vs Santander Overview
Here is some other key data about each bank.
| Bank of Scotland | Santander | |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| Market Share | 3.53% | 0.52% |
| Bank Type | High Street | High Street |
| Total Assets | £319.15 billion GBP | £7.017 billion GBP |
| Swift/BIC Code | BOFSGB2SXXX | BSCHESMMXXX |
| FCA Number | 183332 | 106054 |
| Company Number | SC327000 | 82990 |
| Business Customer Phone Number | (0)131 549 8724 | 0800 9 123 123 |
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