The original building was designed in the Palladian style by Richard Crichton and Robert Reid and erected 1801–6, later altered by David Bryce in 1863 and by Peddie and Kinnear in 1878.

Because of its location on a steep slope, it has an extensive basement area, part of which now houses the Museum on the Mound.

[2] Prior to 2006, a small museum display existed in a single basement room, but entry was by appointment only.

[3] In 2017, Lloyds Banking Group announced that the Museum on the Mound would close at the end of that year.

Because the Bank of Scotland has a history of issuing its own banknotes—a right it has retained to this day—the collection includes a number of historic Scottish banknotes.