Flexible Current Account

This account is perfect for your day-to-day banking. A summary of the account is included below. If you would like more details about the Flexible Current Account or our Private Banking service, please contact us.

When your account is in credit, we work out interest every day and add it to the account of your choice each month. This can be another Bank of Scotland account or any other account in the UK. We can change interest rates. The credit interest rate for the Flexible Current Account is currently 0% AER/gross per annum.*

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once every year. As every advertisement for a savings product quotes an AER, you will be able to compare more easily what return you can expect from your savings over time.
Gross rate is the contractual rate of interest payable before deduction of income tax at the rate specified by law.

Flexible Current Account rates and charges.

A Visa debit card with chip and PIN
This allows us to guarantee cheques of up to £100 and you to withdraw up to £500 a day from over 51,000 Bank of Scotland, Halifax and LINK cash machines in the UK (if the money is available in your account). You can also use your card abroad wherever you see the Visa sign in shops or at cash machines.

An overdraft agreed with your Relationship Manager
The debit interest on arranged overdrafts will be at the rate we agree with you. The typical rate is 5.6% APR variable (except for FSA regulated loans – see the paragraph below). APR means the annual percentage rate. It shows the charge for credit. You may need to provide security in the form of property or assets.

For overdrafts secured on land in the UK (FSA – regulated loans), the overall cost for comparison is 4.6% APR. The actual rate available will depend on your circumstances. Ask for details.