Bank of Scotland Forex Broker

Bank of Scotland Review SummaryFounded1695Registered Country/RegionUnited KingdomRegulationFCAProducts & ServicesPersonal, Business, Private BankingDemo Account❌Trading PlatformMobile Banking App (iOS, Android), Online Banking (Web)Customer SupportPhone: 0345 721 3141 / +44 131 337 4218Online ChatBank of Scotland Information Bank of Scotland, which was established in 1695, is among the oldest financial institutions in the UK. Under FCA regulation, it offers a thorough spectrum of financial services including personal services, corporate services, and private banking services. Serving families and people, it offers several account options via mobile and internet banking services.Pros and ConsProsConsRegulated by the UK FCANo demo or Islamic accountComprehensive financial servicesRelatively high fees on premium accountsStrong mobile and online banking platformsLimited trading instrumentsIs Bank of Scotland Legit? Yes, it is regulated. Effective since 2001, it holds a Market Maker (MM) license from the UK Financial Conduct Authority (FCA) under license number 169628.Products and Services Bank of Scotland offers personal services, business services, and private banking services. When it comes to persenal services, the products include savings, loans, credit cards, mortgages, insurance, and investment products.Personal ServicesDescriptionSavings AccountsMultiple account options to help achieve various savings goalsInvestmentsReady-Made Investments starting from £50/monthCurrent AccountsIncludes Silver Account with travel, breakdown, and mobile insurance benefitsCredit CardsDifferent credit card options with eligibility check that doesnt affect credit scorePersonal LoansPersonalized loan offers based on financial profileMortgagesHalifax mortgage solutions with low ratesLife InsuranceLife and critical illness cover up to £500,000 via Scottish WidowsHome InsuranceBronze, Silver, and Gold tiers with flexible monthly payment optionsAccount Types Designed for different age groups and financial needs, Bank of Scotland provides seven types of live (real) accounts. It does not offer Islamic or demo accounts. From simple banking to premium services with travel and insurance benefits, every account has different features.Account TypeMonthly FeeKey FeaturesSuitable ForClassic Account£0Everyday banking, cashback, add Vantage for interestGeneral personal banking usersSilver Account£11.50Travel insurance, mobile insurance, no card fees abroadTravelers and users wanting perksPlatinum Account£22.50Enhanced travel cover, AA Breakdown, mobile insuranceFrequent travelers & familiesStudent Account£0Interest-free overdraft, student-targeted offersFull-time studentsSmart Start£0Linked parent-child accounts with savings interestKids aged 11–15Under 19s Account£0Interest-earning, limited online banking, no overdraftTeenagers aged 11–17Basic Account£0Simple account with no overdraft or charges for going overdrawnThose needing essential banking onlyBank of Scotland Fees Bank of Scotland's fees are generally moderate to high compared to standard UK retail banking. While some basic accounts come with no monthly fee, packaged accounts (like Silver and Platinum) include service bundles with monthly charges. Overdraft and credit card charges follow standard UK industry ranges.Service/Account TypeFeeClassic Account£0/monthSilver Account£11.50/monthPlatinum Account£22.50/monthStudent Account£0/monthUnder 19s/Smart Start£0/monthBasic Account£0/monthOverdraft (Arranged)Variable (based on credit profile)Foreign Card Usage (Classic)2.99% transaction feeATM Withdrawals (UK)Free from Bank of Scotland ATMsLate Payment (Credit Card)Up to £12Trading PlatformTrading PlatformSupportedAvailable DevicesSuitable ForMobile Banking App✔iOS, Android smartphonesEveryday users manage finances on the goOnline Banking (Web)✔Desktop, Laptop, Tablet (via browser)Users who prefer websiteMetaTrader (MT4/MT5)❌–Not availableDeposit and Withdrawal Bank of Scotland supports domestic and international payment methods, including one-off payments, recurring transfers, and international transactions.CategoryAvailable ActionsOne-off PaymentsPay someone new, Pay someone again, Transfer between own accounts, CHAPS large payments, Request a paymentRegular PaymentsSet up recurring card payments (subscriptions), Direct Debits, Standing OrdersInternational PaymentsSend money abroad, Receive money from outside the UK