Is Bank of Scotland or Wise better for your small business?
Below we look at both Bank of Scotland and Wise 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.
Bank of Scotland vs Wise Trustpilot Reviews
| Bank of Scotland | Wise | |
| Trustpilot Review Score (out of 5) | 1.6 | 4.2 |
| Percent 5-Star Reviews | 12% | 83% |
| Percent 1- Star Reviews | 80% | 7% |
| Total Number of Reviews | 649 | 207,506 |
https://www.trustpilot.com/review/www.bankofscotland.co.uk
https://www.trustpilot.com/review/wise.com
Bank of Scotland vs Wise App Reviews
| Bank of Scotland | Wise | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 269,400 | 85,400 |
| Android Review Score (out of 5) | 4.5 | 4.8 |
| Number of Android Reviews | 44,100 | 762,000 |
https://apps.apple.com/gb/app/bank-of-scotland-mobile-bank/id485728109
https://apps.apple.com/gb/app/wise/id612261027
Bank of Scotland vs Wise Account Fees & Charges
| Bank of Scotland | Wise | |
| Free Business Bank Account | Yes | No |
| Free Business Account Term Length | 12 Months | NA |
| Cheapest Monthly Account Fee | £8.50 | Free |
| Most Expensive Monthly Account Fee | £8.50 | Free |
| Electronic Payment Cost (in/out) | Free / 20p | 0.42% |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | 2% / 1.75% |
| Cheques (in/out) | 85p per cheque | Unknown |
| CHAPS Payments Cost | £30 | £25 |
| SEPA Payments Cost | £5 | No |
Bank of Scotland vs Wise Business Savings Rates
| Bank of Scotland | Wise | |
| Types of Business Savings Accounts | Fixed Term Deposit, Notice Accounts, Instant Access Account | BlackRock ICS Sterling Government Liquidity Fund |
| Lowest Savings Rate (AER) | 1.31% | 4.67% |
| Maximum Savings Rate (AER) | 4.37% | 4.67% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Bank of Scotland vs Wise Account Opening Times
| Bank of Scotland | Wise | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 2 Working days |
| Do They Check Your Credit? | Yes | No |
| Current Account Switch Service | Yes | No |
Bank of Scotland vs Wise Features & Account Types
| Bank of Scotland | Wise | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | No |
| Business Credit Card | Yes | No |
| Business Overdraft | Yes | No |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | Yes | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | Yes | No |
| Card Type | Visa | Visa/Mastercard |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Scotland only | None, online only |
Bank of Scotland vs Wise Customer Support Options
| Bank of Scotland | Wise | |
| 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 Wise Foreign Currency Accounts
| Bank of Scotland | Wise | |
| 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 Wise
| Bank of Scotland | Wise | |
| Business Loans | Yes | No |
| Commercial Mortgages | Yes | No |
| Invoice Financing | Yes | No |
| International Payments | Yes | Yes |
| Merchant Payment Services | Yes | Yes |
| Card Machines | Yes | No |
| Free Accounting Software | Yes | Yes |
Bank of Scotland vs Wise Banking Basics
| Bank of Scotland | Wise | |
| Bank Type | High Street | Challenger |
| FSCS Protection | Yes, up to £85,000 | No, unless money is held in assets |
| FCA Number | 169628 | 900507 |
| Website | Bank of Scotland Website | Wise Website |
Common Comparison Questions
Does Bank of Scotland or Wise 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, Wise scores 4.2 out of 5 based 207,506 Trustpilot reviews. Of which 83% are 5-star and 7% are 1-star.
Does Bank of Scotland or Wise 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, Wise’s iPhone App is rated 4.8 out of 5 based on 85,400 reviews. And it’s Android App is rated 4.8 out of 5 based on 762,000 reviews.
Does Bank of Scotland or Wise 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, Wise offers BlackRock ICS Sterling Government Liquidity Fund accounts with interest rates ranging from 4.67% to 4.67% (AER).
See Other Comparisons:Bank of Scotland vs Revolut Business
Bank of Scotland vs Danske Bank UK
Bank of Scotland vs Ulster Bank
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Bank of Scotland vs Cynergy Bank
For other business bank accounts see our guide here.