Is Bank of Scotland or RBS (Royal Bank of Scotland) better for your small business?
Below we look at both Bank of Scotland and RBS (Royal Bank of Scotland) reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
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Bank of Scotland vs RBS (Royal Bank of Scotland) Trustpilot Reviews
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Trustpilot Review Score (out of 5) | 1.6 | 1.3 |
| Percent 5-Star Reviews | 12% | 7% |
| Percent 1- Star Reviews | 80% | 89% |
| Total Number of Reviews | 649 | 838 |
https://www.trustpilot.com/review/www.bankofscotland.co.uk
https://www.trustpilot.com/review/www.rbs.co.uk
Bank of Scotland vs RBS (Royal Bank of Scotland) App Reviews
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 269,400 | 106,900 |
| Android Review Score (out of 5) | 4.5 | 4.3 |
| Number of Android Reviews | 44,100 | 81,700 |
https://apps.apple.com/gb/app/bank-of-scotland-mobile-bank/id485728109
https://apps.apple.com/gb/app/royal-bank-of-scotland/id334852412
Bank of Scotland vs RBS (Royal Bank of Scotland) Account Fees & Charges
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 24 Months |
| Cheapest Monthly Account Fee | £8.50 | Free |
| Most Expensive Monthly Account Fee | £8.50 | Free |
| Electronic Payment Cost (in/out) | Free / 20p | 35p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 70p per £100 |
| Cheques (in/out) | 85p per cheque | 70p per item |
| CHAPS Payments Cost | £30 | £20 |
| SEPA Payments Cost | £5 | 45p |
Bank of Scotland vs RBS (Royal Bank of Scotland) Business Savings Rates
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Types of Business Savings Accounts | Fixed Term Deposit, Notice Accounts, Instant Access Account | Business reserve, Liquidity manager notice, Treasury reserve, Client deposit manager, Client account manager |
| Lowest Savings Rate (AER) | 1.31% | 1.46% |
| Maximum Savings Rate (AER) | 4.37% | 4.25% |
| Minimum Savings Amount | £1 | No |
| Interest Paid On Foreign Currencies | Yes | Yes |
Bank of Scotland vs RBS (Royal Bank of Scotland) Account Opening Times
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 5 to 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Bank of Scotland vs RBS (Royal Bank of Scotland) Features & Account Types
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| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | Yes | Yes |
| Business Overdraft | Yes | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | Yes |
| Card Type | Visa | Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Scotland only | UK-wide including the ability to use some Natwest locations |
Bank of Scotland vs RBS (Royal Bank of Scotland) Customer Support Options
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | Yes | Yes |
Bank of Scotland vs RBS (Royal Bank of Scotland) Foreign Currency Accounts
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
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Other Business Services From Bank of Scotland and RBS (Royal Bank of Scotland)
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| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | Yes | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | Yes | Yes |
Bank of Scotland vs RBS (Royal Bank of Scotland) Banking Basics
| Bank of Scotland | RBS (Royal Bank of Scotland) | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 169628 | 114724 |
| Website | Bank of Scotland Website | RBS (Royal Bank of Scotland) Website |
Common Comparison Questions
Does Bank of Scotland or RBS (Royal Bank of Scotland) have better customer reviews?
Bank of Scotland scores 1.6 out of 5 based 649 Trustpilot reviews. Of these reviews 12% are 5-star and 80% are 1-star.
Whereas, RBS (Royal Bank of Scotland) scores 1.3 out of 5 based 838 Trustpilot reviews. Of which 7% are 5-star and 89% are 1-star.
Does Bank of Scotland or RBS (Royal Bank of Scotland) have a better App?
Bank of Scotland’s iPhone App is rated 4.8 out of 5 based on 269,400 reviews. And it’s Android App is rated 4.5 out of 5 based on 44,100 reviews.
In comparison, RBS (Royal Bank of Scotland)’s iPhone App is rated 4.8 out of 5 based on 106,900 reviews. And it’s Android App is rated 4.3 out of 5 based on 81,700 reviews.
Does Bank of Scotland or RBS (Royal Bank of Scotland) have better business savings rates?
Bank of Scotland offers the following types of business savings accounts: Fixed Term Deposit, Notice Accounts, Instant Access Account with interest rates ranging from 1.31% to 4.37%. (AER)
In contrast, RBS (Royal Bank of Scotland) offers Business reserve, Liquidity manager notice, Treasury reserve, Client deposit manager, Client account manager accounts with interest rates ranging from 1.46% to 4.25% (AER).
See Other Comparisons:Bank of Scotland vs Wise
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Bank of Scotland vs Ulster Bank
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For other business bank accounts see our guide here.