Is Lloyds Bank or Bank of Scotland better for your small business?
Below we look at both Lloyds Bank and 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.
Lloyds Bank vs Bank of Scotland Trustpilot Reviews
| Lloyds Bank | Bank of Scotland | |
| Trustpilot Review Score (out of 5) | 1.7 | 1.6 |
| Percent 5-Star Reviews | 13% | 12% |
| Percent 1- Star Reviews | 79% | 80% |
| Total Number of Reviews | 4,311 | 649 |
https://www.trustpilot.com/review/lloydsbank.com
https://www.trustpilot.com/review/www.bankofscotland.co.uk
Lloyds Bank vs Bank of Scotland App Reviews
| Lloyds Bank | Bank of Scotland | |
| iPhone Review Score (out of 5) | 4.8 | 4.8 |
| Number of iPhone Reviews | 1,900,000 | 269,400 |
| Android Review Score (out of 5) | 4.6 | 4.5 |
| Number of Android Reviews | 317,000 | 44,100 |
https://apps.apple.com/gb/app/lloyds-bank-mobile-banking/id469964520
https://apps.apple.com/gb/app/bank-of-scotland-mobile-bank/id485728109
Lloyds Bank vs Bank of Scotland Account Fees & Charges
| Lloyds Bank | Bank of Scotland | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 12 Months | 12 Months |
| Cheapest Monthly Account Fee | £8.50 | £8.50 |
| Most Expensive Monthly Account Fee | £8.50 | £8.50 |
| Electronic Payment Cost (in/out) | Free / 20p | Free / 20p |
| Cash Payments Cost (in/out) | £85p / £1.50 per £100 | £85p / £1.50 per £100 |
| Cheques (in/out) | 85p per cheque | 85p per cheque |
| CHAPS Payments Cost | £30 | £30 |
| SEPA Payments Cost | £5 | £5 |
Lloyds Bank vs Bank of Scotland Business Savings Rates
| Lloyds Bank | Bank of Scotland | |
| Types of Business Savings Accounts | Fixed Term Deposit, Instant access account, Notice accounts | Fixed Term Deposit, Notice Accounts, Instant Access Account |
| Lowest Savings Rate (AER) | 1.31% | 1.31% |
| Maximum Savings Rate (AER) | 4.37% | 4.37% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Lloyds Bank vs Bank of Scotland Account Opening Times
| Lloyds Bank | Bank of Scotland | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 7 Working days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Lloyds Bank vs Bank of Scotland Features & Account Types
| Lloyds Bank | 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 | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | UK-wide | Scotland only |
Lloyds Bank vs Bank of Scotland Customer Support Options
| Lloyds Bank | 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 |
Lloyds Bank vs Bank of Scotland Foreign Currency Accounts
| Lloyds Bank | Bank of Scotland | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: |
|
|
Other Business Services From Lloyds Bank and Bank of Scotland
| Lloyds Bank | 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 |
Lloyds Bank vs Bank of Scotland Banking Basics
| Lloyds Bank | Bank of Scotland | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 119278 | 169628 |
| Website | Lloyds Bank Website | Bank of Scotland Website |
Common Comparison Questions
Does Lloyds Bank or Bank of Scotland have better customer reviews?
Lloyds Bank scores 1.7 out of 5 based 4,311 Trustpilot reviews. Of these reviews 13% are 5-star and 79% are 1-star.
Whereas, Bank of Scotland scores 1.6 out of 5 based 649 Trustpilot reviews. Of which 12% are 5-star and 80% are 1-star.
Does Lloyds Bank or Bank of Scotland have a better App?
Lloyds Bank’s iPhone App is rated 4.8 out of 5 based on 1,900,000 reviews. And it’s Android App is rated 4.6 out of 5 based on 317,000 reviews.
In comparison, 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.
Does Lloyds Bank or Bank of Scotland have better business savings rates?
Lloyds Bank offers the following types of business savings accounts: Fixed Term Deposit, Instant access account, Notice accounts with interest rates ranging from 1.31% to 4.37%. (AER)
In contrast, Bank of Scotland offers Fixed Term Deposit, Notice Accounts, Instant Access Account accounts with interest rates ranging from 1.31% to 4.37% (AER).
See Other Comparisons:Lloyds Bank vs Metro Bank
Lloyds Bank vs TSB
Lloyds Bank vs Starling Bank
Lloyds Bank vs Shawbrook Bank
Lloyds Bank vs RBS (Royal Bank of Scotland)
For other business bank accounts see our guide here.