For more than 300 years, the Bank of Scotland has been dedicated to customers, businesses, and communities in Scotland. It is a simple, low-risk, UK-focused bank that was founded in 1695 and is a member of the Lloyds Banking Group, which includes Halifax, Lloyds Bank, Scottish Widows, as well as other subsidiaries. In addition to its strong nationwide presence, the Lloyds Banking Group has the largest network of branches in the UK and serves more than 30 million customers.
During the last four years, the Bank of Scotland is dedicated to serving customers in the most efficient way and have invested £500 million into more digital platforms for commercial banking users.
During the 1970s, the Bank of Scotland expanded considerably due to the massive potential of North Sea Oil. The company had its own oil division and played a leading role in establishing the International Oil and Energy Bank. Later, it opened offices in the United States, Hong Kong, Moscow and Singapore. In 1987, it bought Countrywide in New Zealand and the Bank of Western Australia. In 2009, Lloyds TSB acquired Bank of Scotland. At that time, it began using Lloyds Bank Cardnet for its merchant services.
The Bank of Scotland’s card acceptance service provider, Cardnet, processes a huge range of debit and credit cards from around the globe and accepts a wide range of payments types in many currencies. Cardnet, which provides merchant accounts and payment services to UK businesses of all sizes, is a joint venture between First Data and Lloyds Bank and the Bank of Scotland is now part of the Lloyds Bank Group. In addition to allowing merchants to process face-to-face, online, and mobile payments, Cardnet provides a detailed online management information portal, fraud prevention, and chargeback management. It also leases all of the equipment needed for a business of any size to succeed. Currently, Cardnet serves more than 51,000 merchants.