The history of the Bank of Scotland dates back to 1695 when a law of the Scottish Parliament decreed its creation. The bank opened in February 1696, making it a junior year at the Bank of England. Unlike the latter, created to finance British government spending, the Bank of Scotland was created to support Scottish business interests.
In 2001, the bank merged with Halifax to form HBOS (Halifax Bank of Scotland). Together with his new partner, he now employs 72,000 people in the United Kingdom, Ireland, Europe and North America.
After just under 313 years of independent banking activity, the Bank of Scotland was annexed by the Lloyds Banking Group in January 2009 but continues to operate under its own name and to retain its Scottish headquarters at The Mound in Edinburgh.
The Bank of Scotland has always issued its own banknotes and, despite its new owners, continues to do so. His last series was published in 2007 and the notes are now “more user-friendly” for the visually impaired with larger and higher writing. The series features Scottish locations ranging from Brig O’Don for the £ 5 ticket to the famous Forth Railway Bridge for the £ 20 ticket and from the Kessock Bridge for the £ 100 ticket, the latter being the highest ticket issued by the bank.
All standard banking positions are available from the Bank of Scotland – either at the front of the bank dealing with the public, in investments, or behind the scenes in management, and salaries are comparable to those offered by other banks.
Working for the Bank of Scotland has the following advantages, which obviously depend on the level of seniority and years of service: –
Financial – The bank pays 4% in addition to the employee’s salary that they are allowed to spend as they wish from a range of benefits that include medical and dental plans, coupons for High Street stores, vacation or the possibility of taking it as simple cash. There is also a pension scheme through which the bank makes contributions of up to 13% of salary.
Health – There are a free BUPA online health assessment and other free services for employees that help with fitness, nutrition, sleep, and stress. The bank offers private health care at reduced prices to its workers and their families. Some senior positions include this as part of the overall salary.
Investments – Employees are encouraged to take a financial interest in the success of their bank by purchasing shares in the Lloyds banking group.
Other Benefits – The Bank of Scotland funds a company car program through which more senior employees can choose to have a company car or receive a cash contribution for driving their own. There are also many High Street offers and discounts available to staff.
Flexi-time – Employees are encouraged to suggest how their personal situation can be helped through job sharing, part-time work and flexible hours.