The village has two licensed premises: the Bankfoot Inn and the Atholl Inn. The Bankoot Inn is a restored 18th-century coaching inn which has a public bar with real ales, a lounge bar with fire and a restaurant. The inn hosts live music every month and also hosts a weekly "open session", to which musicians can bring an instrument and join in. The inn also has bedrooms. The Atholl is further north on the main street and also serves food.
The Bankfoot Church Centre opened in October 2008 to replace the nineteenth century church building which was destroyed by fire in February 2004. The building is used every day by many groups, fitting its tag line during the build "Bankfoot Church and Community Building Together".