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Business bank accounts
Don’t hang about. Open a business bank account online in March and get £200.
- First account with us? No account fee for a year then £8.50 a month.
- Instant decision on up to £25,000 credit.1
Compare Lloyds business bank accounts
Find the best business account to suit your business or organisation. These are our most popular options.
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A comparison table of the different Lloyds business accounts. Account
Who can apply?
Where to next?
Account
Business Account
Who can apply?
- UK businesses with annual turnover under £3 million.
- Ideal for start-ups, established business, sole traders and limited companies.
- Turnover over £3 million? See how we can help you
Where to next?
Account
Charity Account
Who can apply?
- Organisations registered with the charity regulator for England and Wales, Scotland or Northern Ireland.
- Organisations with excepted or exempt charity status in England and Wales.
- Less than £250,000 paid in every 12 months.
Where to next?
Account
Community Account
Who can apply?
- Not-for-profit organisations serving their local community such as clubs and associations, unregistered societies, school clubs and PTAs.
- Less than £250,000 paid in 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?
Account
School Bank Account
Who can apply?
- Academies, multi-academy trusts or state-funded schools.
- 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?
Account
Client Accounts (Designated and Undesignated)
Who can apply?
- Professional firms holding client funds, such as solicitors, accountants, insurance brokers, real estate/managing agents.
Where to next?
Account
Credit Union Account
Who can apply?
- An approved credit union.
- Use the account for business only.
Where to next?
£200 to kick things off
Open a Business Account with us online and get £200. How’s that for a helping hand?
Three steps to lock in your £200 business boost.
- Apply between 2 March and 31 March.
- Spend £100 on your business debit card.*
- Set up 2 direct debits.*
*Within 2 months of opening your account.
Terms and conditions of the £200 offer
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 that works as hard as you
Hear from real businesses we support
Steve Athwall CEO/Founder, The Big Phone StoreWith Lloyds, we know our money is in safe hands, and we have someone who understands our business and is always ready to support us, it gives us confidence to keep moving forward.
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£200 new business account offer – Terms and Conditions
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These Terms and Conditions explain how this offer works, including who can take part, and what you need to do to receive the payment.
In these terms and conditions “we”, “us” or “our” means Lloyds Bank plc.
1. About this offer
This offer is available to new business customers who apply online for a Business, Charity or Community Account between 2 March 2026 and 31 March 2026, subject to the eligibility requirements below.
This offer is also available to customers who switch an existing current account held with another bank to us, using the Current Account Switching Service (CASS), once their new account with us is open.
The Business, Charity or Community Account, and any transactions made on the account, will be subject to the terms and conditions for the account. Fees and charges may apply.
2. Who can take part
You can take part, if all the following apply:
- You submit an online application for a new Business, Charity or Community Account with us between 2 March 2026 and 31 March 2026. Saved or incomplete applications won’t be eligible.
- We complete all our standard checks on your Business, Charity or Community Account application, and we open it (see below for what we mean by this) by 15 April 2026.
- You do not already hold a Business, Charity or Community Account with us or Bank of Scotland plc.
3. What do we mean by 'open'?
Your Business, Charity or Community Account is opened on the date we send you your sort code and account number. This will be after you applied online.
4. What you need to do to receive the £200
You’ll qualify for the £200 payment if, within two calendar months of when we open your Business, Charity or Community Account, you:
- Spend at least £100 using your Visa debit card on eligible purchases
- Set up two direct debits from your new account.
Make sure there’s enough money in your account, or that you have an authorised overdraft in place (if available on your account) before you spend on your debit card or your direct debits are taken. If you don’t, your account may go into an unauthorised overdraft, and you may be charged fees and interest as set out in your account terms and conditions.
Eligible debit card spending
Debit card spending means purchases of goods or services using your Visa debit card.
Excluded transactions
The following do not count towards the £100 spend requirement:
- Cash withdrawals
- Bank transfers made with or without your debit card
- Debt repayments
- Direct debits and standing orders
- Transactions classified as gambling
- Financial services transactions (money transmission orders, purchases of foreign currency or travellers’ cheques and purchases of financial services such as insurance or investments.)
- Cryptocurrency transactions
- Refunds and chargebacks
- Bank charges, fees, interest, and any other non-purchase transactions
- Fraudulent transactions
Direct Debits
Direct debits must be set up with the organisations you’re paying.
If you’re switching to us using the Current Account Switch Service (CASS), any active direct debits moved to your new account as part of the switch will count towards the requirement to set up two direct debits from your account.
5. When we'll pay you
If you meet the eligibility requirements above, we’ll pay £200 into your new Business, Charity or Community Account during the week starting 6 July 2026. We’ll email you before we make the payment to let you know when to expect it.
Your Business, Charity or Community Account must be open and able to receive payments at the time we try to make the payment.
We can’t pay the £200 into any other account or by cash or cheque.
The £200 payment is made gross, and you’re responsible for paying any tax due on the payment you receive.
We won’t contact you if your Business, Charity or Community Account doesn’t meet the offer requirements.
6. Other important information
- Only one £200 payment is available per customer. If you open more than one account with us, including accounts with Lloyds Bank or Bank of Scotland, we’ll only check the first account you open to see if it meets the offer requirements.
- Only Business, Charity or Community Accounts are eligible for this offer. All other account types are not eligible.
- Existing customers already holding a Business, Charity or Community Account are not eligible for this offer.
- This offer isn’t transferable, and we may change, pause or withdraw it at any time. If you’ve already opened your Business, Charity or Community Account when we make a change, or pause or withdraw the offer, it won’t affect you, as long as you meet the offer requirements.
- We won’t cover any fees or interest you incur if your account goes into an unauthorised overdraft as a result of making payments using your Visa debit card or direct debits.
- The £200 payment cannot be exchanged for any other benefits.
- Our decision on eligibility and payment is final.
Frequently asked questions
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A business bank account is required for limited companies in the UK. Having a business account makes it easier to manage your company’s finances, stay on top of tax, make payments and track expenses.
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Use our business account comparison table to find the best business account type for you.
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Sole traders or the director of a business trading from a UK address with an annual turnover below £25 million.
Anyone applying must also be:
- at least 18 years old
- a UK resident with a UK mobile phone number.
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You can apply for a Business Account online in minutes. Get an instant decision for most business types.
On-the-go? Download the app and apply from anywhere in the UK. Discover our mobile app
Or you can apply using the website. Apply online now
To open your business bank account, you’ll need a few documents to hand.
You’ll need:
- a way to take a live photo of your signature and one of yourself
- a form of ID such as your passport or UK driving license
- 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.
For limited company accounts, Companies House must be up to date before we can progress your application. Please allow four days from the date of your Companies House registration before applying to open a business bank account.
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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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Yes, you can easily switch your current business account to a Lloyds Bank business account using the Current Account Switching Service (CASS). Once you’ve given us your details, you can sit back and we’ll manage the rest for you. Find out more about switching bank accounts
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If you have an established business, there are various benefits to having a business bank account with Lloyds Bank.
- 24/7 online and mobile banking.
- First Business Account with us? Free for the first 12 months, then £8.50 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.
Estimate with our calculator how much your business account could cost a month after the first year.
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The Business Account comes with free accounting software to help you manage your finances. And, if you prefer, you can export your transaction data to most major accounting platforms.
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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
£8.50 after 12 months
Payment type
Electronic payments in2
Charges
Free
Payment type
Electronic payments out2
Charges
First 100 a month are free / £0.20 each after that
Payment type
Cash payments (in or out)
Charges
£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)
Charges
£0.85 at an Immediate Deposit Machine / £1 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
Free
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, 232KB) and product terms and conditions.
Estimate with our calculator how much your business account could cost per month after the first year.
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In-branch cash and deposit machines, for notes and cheques. Limits and charges will apply. Find out more information on how to manage cash and cheques.
Other options:
- Withdraw cash, notes only, from any LINK ATM. Most don't charge a fee.
- Withdraw or deposit coins and notes at Post Offices or Banking Hubs. Limits and charges will apply.
- You can find out about your options on LINK's Cash Locator.
- Some locations charge a fee to make a withdrawal or deposit. If they do, it'll be clearly signed in store and on the machine. You'll be able to cancel the transaction if you don't want to pay the charge.
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You can find helpful guides and articles on our website. Get help managing your account, tips for online banking, cards and PINs, plus security and fraud support.
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