Start-up and small business account
The account that helps your business make a flying start, including 12 months’ free day-to-day¹ business banking and specialist support when you want it.
We are currently receiving a high number of Business Current Account applications, so it may take us longer than usual to open your account. After we receive all required information, your account should be open within 4 weeks.
Please note, new customers cannot open a Business Current Account to access the Recovery Loan Scheme. To be eligible for the Recovery Loan Scheme you must be an existing Lloyds Bank business customer for a minimum of 12 months.
Ready to apply?
In order for us to point you in the right direction we need to ask you a question.
We’ll help your business grow
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For free business banking you need to operate your account in credit, or within your agreed overdraft limit
Free banking includes no monthly account fee, electronic payments, cheques and cash withdrawals/deposits
Pricing after your first 12 months’ free
When your 12-month free banking period ends, the simple pricing below will apply. You’ll continue to pay no fee for electronic payments, including withdrawing money from a Cashpoint® or paying by Debit Card.
Estimate how much your current account could cost you with our calculator
Pricing
Payment type
Cost
Payment type
Monthly feeA fixed fee for operating your account.
Cost
£7.00
Payment type
Electronic payments (in or out)Includes online, automated and debit card payments
Cost
Free
Payment type
Cash payments (in or out)Cash you pay into or withdraw from your account using our branch counter or deposit machine. We don’t charge for ATM withdrawals
Cost
The first £1500 per month - £1.00 per £100
Anything over £1500 per month - £0.90 per £100
Payment type
Cheques (in or out)Any cheque payment made in or out of your current account made via a branch counter, Immediate Deposit Machine, or bulk or other cheque deposit service including cheque imaging via the Business Mobile Banking App.
Cost
£0.85
Payment type
Credit inCredit in is a fee charged when paying in a credit of cheques and/or cash at the branch counter, or through other cheque/cash deposit services. We do not charge a credit in fee when you deposit via an Immediate Deposit Machine, depositpoint™, Night Safe, Business Mobile Banking App cheque imaging or Post Office® counters.
Cost
£0.85
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Make sure you understand the small print.
Accounting software
Try it free for 3 months
Business Finance Assistant is an online accountancy package that integrates easily with your business accounts, including accounts with other providers. It can help you predict cash flow peaks and troughs, manage your invoices, submit digital VAT returns and much more – giving you greater control over your finances and saving valuable time.
Accepting card payments
Whatever the current size of your business, we can help you manage accepting card payments; online, over the phone or face to face.
Independent service quality survey results
Business Current Accounts
Published August 2021
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of the 14 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.
Ranking
The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here
1Free day-to-day business banking includes cheques, standing orders, cash, UK Sterling Direct Debits, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits. Free electronic payments include UK Sterling Direct Debits, Standing Orders, Debit Card Transactions, Lloyds Bank/Other Bank ATM Withdrawals, Internet/Phonebank Debits/Credits, Faster Payment Debits/Credits, Internet Bulk Payments and Automated Credits.
2Applies to small businesses, including individuals setting up their first business bank account.
*You will need iOS or Android. The app is not compatible with some older versions of the operating systems – check the Apple App Store or Google Play . Business Internet Banking Registration Required. Terms & Conditions Apply.
Cashpoint ® is a registered trademark of Lloyds Bank plc.
Cardnet® is a registered trademark of Lloyds Bank plc.
Lloyds Bank Business Insurance Services are arranged and administered by Arthur J. Gallagher Insurance Brokers Limited which sources products from a panel of insurers. Arthur J. Gallagher Insurance Brokers Limited, registered office: Spectrum Building, 7th Floor, 55 Blythswood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909. Authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 311786). The Lloyds Bank brand and logo are used under licence.
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.