Is Virgin Money or Bank of Scotland better for your small business?
Below we look at both Virgin Money 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.
Virgin Money vs Bank of Scotland Trustpilot Reviews
| Virgin Money | Bank of Scotland | |
| Trustpilot Review Score (out of 5) | 1.4 | 1.6 |
| Percent 5-Star Reviews | 5% | 12% |
| Percent 1- Star Reviews | 89% | 80% |
| Total Number of Reviews | 6,799 | 649 |
https://www.trustpilot.com/review/uk.virginmoney.com
https://www.trustpilot.com/review/www.bankofscotland.co.uk
Virgin Money vs Bank of Scotland App Reviews
| Virgin Money | Bank of Scotland | |
| iPhone Review Score (out of 5) | 4.6 | 4.8 |
| Number of iPhone Reviews | 125,000 | 269,400 |
| Android Review Score (out of 5) | 4 | 4.5 |
| Number of Android Reviews | 23,400 | 44,100 |
https://apps.apple.com/gb/app/virgin-money-mobile-banking/id1482269155
https://apps.apple.com/gb/app/bank-of-scotland-mobile-bank/id485728109
Virgin Money vs Bank of Scotland Account Fees & Charges
| Virgin Money | Bank of Scotland | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | 25 Months | 12 Months |
| Cheapest Monthly Account Fee | No | £8.50 |
| Most Expensive Monthly Account Fee | No | £8.50 |
| Electronic Payment Cost (in/out) | Free | Free / 20p |
| Cash Payments Cost (in/out) | 90p per £100 | £85p / £1.50 per £100 |
| Cheques (in/out) | 30p per cheque | 85p per cheque |
| CHAPS Payments Cost | £25 | £30 |
| SEPA Payments Cost | £20 | £5 |
Virgin Money vs Bank of Scotland Business Savings Rates
| Virgin Money | Bank of Scotland | |
| Types of Business Savings Accounts | Instant access accounts, Notice accounts, Fixed term deposit accounts | Fixed Term Deposit, Notice Accounts, Instant Access Account |
| Lowest Savings Rate (AER) | 1.35% | 1.31% |
| Maximum Savings Rate (AER) | 5.15% | 4.37% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Virgin Money vs Bank of Scotland Account Opening Times
| Virgin Money | Bank of Scotland | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 1 to 47 Working days | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Virgin Money vs Bank of Scotland Features & Account Types
| Virgin Money | 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 | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | Yes | Yes |
| Branch Locations | Northern England and Scotland only | Scotland only |
Virgin Money vs Bank of Scotland Customer Support Options
| Virgin Money | 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 |
Virgin Money vs Bank of Scotland Foreign Currency Accounts
| Virgin Money | Bank of Scotland | |
| US Dollar (USD) Bank Accounts | Yes | Yes |
| Euro (EUR) Bank Accounts | Yes | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Virgin Money and Bank of Scotland
| Virgin Money | 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 | No | Yes |
| Free Accounting Software | Yes | Yes |
Virgin Money vs Bank of Scotland Banking Basics
| Virgin Money | Bank of Scotland | |
| Bank Type | High Street | High Street |
| FSCS Protection | Yes, up to £85,000 | Yes, up to £85,000 |
| FCA Number | 121873 | 169628 |
| Website | Virgin Money Website | Bank of Scotland Website |
Common Comparison Questions
Does Virgin Money or Bank of Scotland have better customer reviews?
Virgin Money scores 1.4 out of 5 based 6,799 Trustpilot reviews. Of these reviews 5% are 5-star and 89% 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 Virgin Money or Bank of Scotland have a better App?
Virgin Money’s iPhone App is rated 4.6 out of 5 based on 125,000 reviews. And it’s Android App is rated 4 out of 5 based on 23,400 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 Virgin Money or Bank of Scotland have better business savings rates?
Virgin Money offers the following types of business savings accounts: Instant access accounts, Notice accounts, Fixed term deposit accounts with interest rates ranging from 1.35% to 5.15%. (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:Virgin Money vs Metro Bank
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Virgin Money vs RBS (Royal Bank of Scotland)
For other business bank accounts see our guide here.