The Business Current Account is changing

The Business Current Account is changing

Because we’re making some changes to our Business Current Account, we’re pausing applications until the new account launches. To apply, please come back after 10am on Monday 26 February when we’ll be ready for your application. We’re sorry if this causes any inconvenience. 

Why open a business account with us?

Expert guidance

Access to a dedicated relationship manager to support your business.

Tariffs to suit your business

Choose the most-cost effective business account for your needs.

Manage and grow

Keep your business running smoothly with our cashflow and lending services.

 

“Our Business Banking Manager at Lloyds Bank completely understands the reactive nature of our business and that we have to be able to meet the demands of our customers quickly and effectively. With the Bank’s support over the last decade, we’ve been able to adapt and expand to become the business we are today.”

Ryan Acres, PrintClever

Are you eligible to apply for our Business Current Account?

This account is suitable for businesses that:

  • don’t already bank with us 
  • want to switch an existing current account to us 
  • already bank with us and would like an additional account
  • already bank with us and would like to establish a new legal entity within a group.

To apply for this account, your business must:

  • have an annual turnover of £3 million to £25 million
  • use the account for business purposes only
  • be registered to trade in the UK.

Please take some time to read the product terms and conditions.

We've worked with other providers of UK business banking accounts to help you prepare the information we’ll need from you.

UK Finance business account opening guide 

Bank accounts for smaller businesses

Bank accounts for smaller businesses

If you run a smaller business with an annual turnover below £3 million, check out our current account for small businesses.

See all business bank accounts

Digital business banking

Our business banking app and online banking use the latest technology and comply to the highest standards of security and fraud protection. So the businesses that bank with us never have to compromise on security for convenience. 

With online business banking, you can:

  • manage user access
  • make bulk payments
  • apply for loans, credit cards and overdrafts
  • access invoice finance and asset finance. 

More about online business banking.

How much does a bank account for larger businesses cost?

The cost of a larger business bank account can vary based on which tariff you choose. Check out our rates and charges for more detail.

Business Extra Tariff

  • £15.00 monthly maintenance fee 
  • Charges apply per electronic transaction 
  • Ideal if you only plan to make a small number of transactions per month
  • Free money transfers (to or from another account in your name with the sort code starting 30, 77 or 87).

Electronic Business Tariff

  • £20.00 monthly maintenance fee
  • Free electronic transactions 
  • Ideal if you make regular electronic transfers at ATMs, via online banking or Faster Payments. 
  • Free money transfers (to or from another account in your name, with the sort code starting 30, 77 or 87).

Compare tariffs

Explore which tariff works best for your business with our tariff comparison table.

Use our tariff calculator to find out how much your business account could cost.

 

Switching to us is easy

The Current Account Switch Service makes switching current accounts from one UK bank or building society to another simple, reliable and stress-free. It is available to consumers, businesses, charities and trusts and allows you to choose a switch date that suits you.

Current Account Switch Guarantee (PDF, 65KB)
Current Account Switch Guide (PDF, 71KB)

FAQs

Further resources

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

Grow your digital skills online

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

View resources

Other products you may be interested in

Accounting software – Business Finance Assistant

Business Finance Assistant is free for Lloyds Bank business account holders

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

Business Finance Assistant

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®

Independent service quality survey results

Business current accounts


Published February 2025

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 16 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 85%, 2nd Starling Bank 82%, 3rd place Handelsbanken 77%, 4rd place Tide 75%, 5th place Zempler Bank 69%, 7th Lloyds Bank 61%

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

Cardnet® is a registered trademark of Lloyds Bank plc.