Change your business address
If you're a full access user, you can update your business, registered, mailing and personal addresses within Online for Business and the Business banking app.
Business bank account
Open a business account and get Xero free for 6 months, plus a £200 Amazon gift card.
- Go from application to business account in 24 hours.*
- No monthly account fee for a year, then £10 a month.
Choose the right business bank account for you
See how the right business bank account can support you whether you’re starting out, growing your business or ready to switch to Lloyds.
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A comparison table of the different Lloyds business accounts. Your organisation
Which account is right for me?
Where to next?
Your organisation
Start ups and small businesses
Which account is right for me?
- The Business Account is designed for UK businesses with an annual turnover under £3 million.
- Ideal for start ups, established businesses and limited companies.
- Get a free debit card plus offers to save on LinkedIn Premium and Google Workspace.
- Turnover over £3 million? See how we can help you
Where to next?
Your organisation
Sole traders
Which account is right for me?
- Get a sole trader business account designed to support self-employed businesses with an annual turnover under £3 million.
- Free Making Tax Digital software if your business comes under the new HMRC rules.
- Free debit card plus offers to save on LinkedIn Premium and Google Workspace.
Where to next?
Your organisation
Switching to Lloyds
Which account is right for me?
- Switch to a Business Account designed for UK businesses with an annual turnover under £3 million.
- It’s simple and secure to switch with the Current Account Switching Service.
- Free debit card plus offers to save on LinkedIn Premium and Google Workspace.
Where to next?
Your organisation
Charity
Which account is right for me?
- The Charity Account is designed for organisations registered with the charity regulator for England and Wales, Scotland or Northern Ireland.
- Also available to organisations with excepted or exempt charity status in England and Wales.
- Pay in less than £250,000 every 12 months.
Where to next?
Your organisation
Community organisation
Which account is right for me?
- The Community Account is designed for not-for-profit organisations serving their local community such as clubs and associations, unregistered societies, school clubs and PTAs.
- Pay in less than £250,000 every 12 months.
- Not suitable if your organisation pays out surplus money as dividends or profits.
- Not suitable if your organisation is structured and run for the personal benefit of members.
- Not available to co-operatives, property management companies and residents’ management companies (or equivalent).
Where to next?
Your organisation
School
Which account is right for me?
- The School Account is ideal for academies, multi-academy trusts or state-funded schools.
- The account must be used for core school activities such as payroll and receiving state funding.
- Not suitable for independent schools that are registered with Companies House.
Where to next?
Your organisation
Professional firm
Which account is right for me?
- We have accounts designed for use by professional firms holding client funds.
- Ideal for businesses such as as solicitors, accountants, insurance brokers, real estate or managing agents.
- Select a Designated or Undesignated account, depending on your business needs.
Where to next?
Your organisation
Credit union
Which account is right for me?
- We offer a Credit Union Account for approved credit unions.
- The account must be used for business only.
Where to next?
Meet the Business Account that works as hard as you
Get Xero free for 6 months
Open a business bank account and unlock:
- a free 6-month Xero Business Edition subscription of your choice
- a £200 Amazon gift card with most plans, after your first monthly payment (at month 7).
You’ll get an email from Xero after your first payment, with a link to redeem your gift card.
Your approvers are people listed as signatories on your account. You can find this information on your bank mandate. Your bank mandate is the set of instructions given to us when your business account is opened. Contact us on 0345 072 5555 if you have any queries.
Apply for a business bank account in minutes
Set up your business account online or using the app.
Check you can apply for this business bank account
Xero subscription and gift card offer – Terms and Conditions
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1. About this offer
If you open a qualifying Lloyds Business Account and meet Xero’s conditions set out below, Xero are offering Lloyds business customers 6 months’ free access to Xero accounting software (the “Subscription Offer”, and the opportunity to receive an Amazon gift card worth £200 (the “Gift Card Offer”)(and together referred to as the “Offer”).
The Offer is available from 14 July 2026 and will end at 23:59 on 31 March 2027.
2. What is a qualifying Lloyds Business Account?
The Offer is provided by Xero if you are:
- A UK business customer who is:
- a new customer opening a Business Account, including where you switch an account from another bank
- an existing customer opening a Business Account for a new business
- opening more than one Business Account for separate new businesses, in which case the Offer will apply to each eligible new account
You can still open the following account types with us, but Xero’s Offer is not available for:
- Charity and Community Accounts
- Secondary Accounts
- Accounts for businesses with turnover over £3m
3. What are Xero’s Offer conditions?
The Offer is brought to you by Xero, not Lloyds. We are simply letting you know about it because Xero wanted to make it available to our customers. If you decide to accept Xero’s Offer, you will be entering into an agreement directly with Xero, and they will ask you to accept their own terms and conditions for the products/services they provide. This is separate from any relationship you have with us, and we are not responsible for the Offer or anything arising from it.
Full details of Xero’s offer are available on their website.
These are the key conditions we think you should know about before you decide to accept Xero’s Offer:
Eligibility Criteria
- You must be a new customer of Xero and also open a qualifying Lloyds Business Account. The Offer is limited to one Xero offer per qualifying Lloyds Business Account.
- You must be purchasing your first subscription on Xero using the link provided to you in the email you will receive when you open a qualifying Business Account. You will not be eligible for this Offer if you have previously trialled or subscribed to Xero. This includes if you have an existing or cancelled account with Xero.
- You will have until 23:59 on 31 March 2027 to purchase your first subscription through Xero.
- The Offer is not available Accountants or bookkeepers who purchase subscriptions for their clients.
Subscription Offer
- The 100% fee-free discount applies to Xero's price for its Simple, Ignite, Grow, Comprehensive and Ultimate plan subscriptions only. The 100% fee-free only applies to the subscription fee based on the subscription type you have selected and does not apply to additional charges for add-ons, usage, or payment fees. The Offer cannot be used in conjunction with any other Xero plan offer and cannot be exchanged for any other Xero offer.
- At the end of the Subscription Offer period (i.e. after the 6 month fee-free period), your subscription with Xero will be charged at Xero’s standard rates applicable at that time, for the plan you selected and will auto-renew monthly until cancelled. You can cancel your Xero subscription through Xero (Cancel a subscription – Xero Central) but please be aware that under Xero’s current terms, you must give Xero one month’s notice to cancel, but you can do so at any time. Cancelling your Xero subscription does not impact the availability of your Lloyds Business Account(s).
Gift Card Offer
- Xero have separate terms and conditions relating to the Gift Card Offer.
- To be eligible for the gift card, you must connect your Lloyds Business Account to Xero within 7 months of subscribing.
- You are not eligible for the £200 Amazon Gift Card if you select Xero’s Simple plan or are on the Simple Plan when the promotion ends and your first paid monthly payment is collected.
- Eligible customers will receive an email from Xero within approximately 10 days of the first paid monthly payment being collected containing access to a link to redeem the £200 Amazon gift card. There is no cash alternative to the gift card.
- You must redeem the gift card within 30 days from the date of receiving the redemption email. After this time, the promotional link will expire and will not be replaced.
- Xero use a third party to provide the gift card and you may need to enter into an agreement directly with Xero’s third-party provider, and that third party provider may ask you to accept their own terms and conditions for the products/services they provide.
Other important information
- Xero reserves the right to share the information you submit as part of the Offer when subscribing with Xero with Xero’s referral partners for the purposes of promotion attribution, fulfilment, and reconciliation, in accordance with Xero's privacy notice. Further details can be found here.
- Any gift card is provided as a business account promotional incentive. The recipient is responsible for determining and accounting for any tax liability arising from receipt or use of the gift card. Neither Lloyds nor Xero provides tax advice. Recipients should seek their own advice where required.
4. What else you need to know
Your Lloyds Business Account is subject to the account terms and conditions. Fees and charges may apply and all our Business Accounts are subject to our usual eligibility checks and approval criteria when opening your new Business Account.
Once your qualifying Business Account is open, we’ll contact you to explain how to redeem the Xero offer and provide a dedicated link that you must use to access the Offer from Xero.
Xero’s Offer is designed for customers who open the Lloyds Business Account through our online application. If something means your account ends up being opened offline after you started applying online, don't worry - you will still be eligible as long as you meet the offer conditions.
- A UK business customer who is:
Frequently asked questions
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The Lloyds Business Account is for:
- small businesses, limited companies, start ups and sole traders
- businesses based in the UK with an annual turnover below £3 million
- business owners or directors who want to apply online and bank in the app
- businesses looking for clear costs, reliability and a bank account that grows with them.
If your turnover is more than £3 million a year, switch to Lloyds using the Current Account Switching Service (CASS). Switch to Lloyds
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Get your documents ready before you get started with your application.
You’ll need:
- a copy or photograph of your signature
- a UK driving licence or passport
- your name, date of birth and three-year personal address history (including month and year of moving dates)
- mobile number and email address for everyone connected to the account
- your business name, address, details of your activities and estimated annual turnover.
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If you’re a director of a limited company, a limited company bank account is a legal must-have for trading in the UK. The Lloyds Business Account is ideal for businesses with a turnover under £3 million, and is available for limited companies, small businesses, start ups and sole traders.Not sure if you need a business bank account? Read the guide
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It takes around 20 minutes to complete a Lloyds Business Account application. You could go from application to account opening in just 24 hours.
In some cases, we may need extra information to open your business bank account - if this happens, it usually takes 7 days to set up your business current account.
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You can manage your Lloyds Business Account using online banking (Online for Business) or in the business banking app. Make payments, pay in cheques, share receipts, see upcoming and scheduled payments, get payment alerts and view digital statements.
This table compares business account features available on desktop and in the business banking app. Features
On desktop
In the app
Features
View your Business Account, credit cards, charge cards, loans and savings
On desktop
✔
In the app
✔
Features
View balances, transactions, and statements
On desktop
✔
In the app
✔
Features
Order a cheque book, credit book, debit card
On desktop
✔
In the app
✔
In chatFeatures
Add or remove account signatories
On desktop
✔
In the app
✔
Features
Rename accounts
On desktop
✔
In the app
Features
Stop a cheque
On desktop
✔
In the app
✔
In chatFeatures
View and print recent transactions
On desktop
✔
In the app
Features
Go paper-free with the Digital Inbox
On desktop
✔
In the app
✔
Features
Use our virtual assistant or chat to a live agent
On desktop
✔
In the app
✔
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You can open a business bank account before your limited company or sole trader business has started trading. Already using your personal account? Switch to a business bank account whenever you’re ready.
Download the app and apply from anywhere in the UK. On the Apple App Store and Google Play store.
Use the link below to get your download link sent to you by text.
Send me a download linkOr apply using the website. Apply online now
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If you’ve already started an online application, you can continue or check the status of your application at any time using the log on button in your welcome email, which you’ll get once you’ve provided your personal details.
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- 24/7 online and mobile banking.
- No monthly fee for the first 12 months, then £10 a month.
- Unlimited free debit cards.
- Make and receive international payments online or using the business banking app.
- Add business partners, employees or accountants and set their access levels (full, delegate or view-only).
- Payment alerts and digital statements.
- Business support and resources.
- Access to other business banking services including Business Overdrafts, other lending and savings.
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Find out more about our Business Account fees and charges.
Lloyds Business Bank Account fees and charges. Payment type
Charges
Payment type
Introductory offer
Charges
No monthly account fee for 12 months if it’s your first business account with us
Payment type
Monthly account fee
Charges
£10 after 12 months
Payment type
Electronic payments in2
Charges
Included at no extra cost
Payment type
Electronic payments out2
Charges
Included at no extra cost
Payment type
Cash payments (in or out)
Charges
£0.85 for every £100 at an Immediate Deposit Machine / £1.60 for every £100 over the counter
Payment type
Cheques (in or out, any amount)
Charges
£0.85 at an Immediate Deposit Machine / £1.20 over the counter
Payment type
Credit paid in at branch or ATM
Charges
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Charges
No fee
Payment type
BACS
Charges
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
Charges
£30
Payment type
Sending and receiving money abroad
Charges
Payment type
Balances below £0 (going overdrawn)
Charges
Payment type
Other account services
Charges
No credit interest is payable on this account.
See the full account rates and charges (PDF, 222KB) and product terms and conditions.
Estimate with our calculator how much your business account could cost per month after the first year.
The business account offering more than just the basics
Independent service quality survey results
Business current accounts
Published February 2026
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 17 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
The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here