Digital banking with no account fee for 12 months

Bank online, with our mobile app, in branch or over the phone. 

  • After 12 months, there’s a monthly fee of £8.50. Some fees and transaction charges will apply as soon as the account is open.
  • This offer only applies to the business’s first current account.

Check the fees and transaction charges that will still apply

Is your business eligible?

You must:

  • Be at least 18 years old
  • Be a sole trader, partner or company director
  • Be applying for your first bank account with us
  • Have an annual turnover of less than £25 million.

Apply now for a business account

Apply now for a business account

Apply now for a business account

Apply now

Business bank accounts you can trust

We’ve been by the side of British businesses for over 250 years. Today, we help more than a million1 people take care of their business finances. So when you open an account with us, you know you’re in safe hands.

Why open a business bank account with us?

Flexible ways to bank

Bank in whatever way suits your business - online, in the app, over the phone or in branch.

Borrow up to £5,000

Small businesses could apply for up to £5,000 across a Business Overdraft or Business Credit Card**.

Expert support

Access our Relationship Team for business help and support.

Our business banking app

Log on at a time that suits you using your secure logon details. For extra security, use fingerprint and Face ID on compatible devices.

  • Make payments of up to £250,000 per day
  • Pay in cheques up to a daily limit of £5,000
  • Check balances and transaction details

More about the app

 

Apply for a business account in minutes

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3 million a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK
  • Download on the App Store
  • Get it on Google Play

Apply for a business account in minutes

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3 million a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK
  • Download on the App Store
  • Get it on Google Play

Simple ongoing fees and transaction charges

Payment type

Payment type

Introductory offer

No monthly account fee for 12 months

Payment type

Monthly account fee

£8.50 after 12 months

Payment type

Electronic payments in2

Free

Payment type

Electronic payments out2

First 100 a month are free / £0.20 each after that

Payment type

Cash payments (in or out)

£0.85 for every £100 at an Immediate Deposit Machine / £1.50 for every £100 over the counter

Payment type

Cheques (in or out, any amount)

£0.85 at an Immediate Deposit Machine / £1 over the counter

Payment type

Credit paid in at branch or ATM

£0.85

Payment type

Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app 

Free

Payment type

BACS

File submission: £5.50

BACS Item: £0.15 (a set up fee may apply)

Payment type

CHAPS

£30

Payment type

Sending and receiving money abroad 

Payment type

Balances below £0 (going overdrawn)

Payment type

Other account services

See the full account rates and charges (PDF, 666KB) and product terms and conditions.

Estimate with our calculator how much your business account could cost per month after the first year.

UK Finance business account opening guide

 

Borrow up to £5,000 for your new business**

You could apply for up to £5,000 across a Business Overdraft or Business Credit Card, giving you financial flexibility when you need it. This could help you get your business off the ground, build your credit rating and cover any unexpected costs.

**Apply online once your new business account is set up and you’ll get an instant decision. Eligibility for lending will be assessed as part of a separate application, and there is no guarantee of lending being granted. All lending is subject to status.

 

Growing almost as fast as seaweed

Right now, good things are happening at Notpla as digital business banking helps them grow almost as fast as the seaweed they use to make their packaging.

Notpla’s growth story
 

Winner

Best Service from a Business Bank
Moneyfacts Business Awards 2022

Highly Commended

Business Start-Up Bank of the Year
Moneyfacts Business Awards 2022

Winner

Business Bank of the Year
FD's Excellence Awards 2005 - 2021

School Bank Account

Our School Bank Account is specifically designed for state-funded schools and academies based on the things that we know are important to you.

View School Bank Account

Credit Union Account

For those providing a springboard for people to move into mainstream banking we have a package of banking services specifically for community credit unions. 

View Credit Union Account

Treasurer's Account

If you run a non-profit organisation with a turnover of up to £50,000, then let us take the hassle out of your banking. Then you can spend your time on what matters most. 

View Treasurer's Account

Business account cards

Business Debit Card

With no annual fee and a contactless limit of £100, our Business Debit Cards are an affordable way to manage your daily expenses.

Business debit cards

Business Cashpoint® Card

Use this card to cover unexpected expenses like taxis, withdraw cash at 1.9 million UK cash machines and deposit money in branch. 

Business Cashpoint cards

Frequently asked questions

You may also be interested in

Taking card payments

From card readers to online payments.

We can help you accept card payments online, over the phone or face to face, no matter the size of your business. 

Lloyds Bank Cardnet

Free accounting software

Connect Business Finance Assistant to your business accounts to predict cash flow, submit digital VAT returns and much more. 

Business Finance Assistance

Online skills training

Take part in our free lessons and workshops to help your business thrive in a digital world.

View online skills resources

Do I need a business bank account?

Limited companies need to open a business bank account for their new business but there are advantages for sole traders too who want to separate their personal and business finances. 

Read the guide
Protecting your money, fscs protected

Financial Services Compensation Scheme

Eligible deposits with Lloyds Bank plc are protected up to a total of £85,000. Due to eligibility criteria, not all business customers will be covered.

More about the FSCS

See how we compare in the market

Review alternative sources of business finance and compare products and services. 

 

Alternative Business Funding

Funding options

Funding Xchange

Swoop

1 Lloyds Banking Group PLC – 2022 Annual Report

2Electronic payments include:

  • Direct Debits
  • Standing Orders
  • Faster Payments Debits
  • Internet/Phonebank Debits
  • Internet Bulk Payments.

**Apply online once your new Business Account is set up and you’ll get an instant decision. Eligibility for lending will be assessed as part of a separate application, and there is no guarantee of lending being granted. All lending is subject to status. 

Independent service quality survey results

Business current accounts


Published February 2024

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 15 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). The results represent the view of customers who took part in the survey.
 

Overall service quality

We asked customers how likely they would be to recommend their business current account provider to other SMEs.

*SMEs include businesses, clubs, charities and societies with an annual turnover/income of up to £25m (exclusive of VAT and other turnover-related taxes).

Ranking

Business current accounts overall service quality survey results: 1st monzo 84%, 2nd Starling Bank 83%, equal 3rd Tide 74%, equal 3rd Handelsbanken 74%, 5th Metro Bank 65%, equal 6th Lloyds Bank 60%.

View the full set of results

The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.