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    Business Account for New Businesses

    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.

    Opening a Start up Business Current Account – Important Information

    Please note, new customers cannot open a Business Current Account to access the Bounce Back Loan Scheme. To access the Bounce Back Loan Scheme, you must have had an account with us before 2 March 2020.

    If you manage your business through a Personal Current Account opened before 2 March and want to apply for a Bounce Back Loan do not apply via this page. You will need to open a Business Current Account or a Loan Servicing Account.

    Switching business accounts

    We’ve taken the difficult decision to temporarily stop accepting business account applications from customers looking to switch their banking to us.

    This is undoubtedly going to cause a level of inconvenience, but please be reassured that we’ll reinstate the ability to accept new account applications for switching at the earliest opportunity. Thank you for your understanding at this time.

    Ready to apply?

    In order for us to point you in the right direction we need to ask you a few questions

    Apply now

    We're sorry

    We are only able to accept Bounce Back Loan applications from customers who had an account with us before 2 March. 

    Take a look at our Coronavirus help page for other useful resources and answers for frequently asked questions.

    We’ll help your business grow

    Expert support

    Our UK-based business management team are available to call on when you need your business questions answered. We help around 100,000 new businesses each year.

    Products and services

    • We offer all kinds of financial support, from business loans and asset finance to overdrafts, invoice finance and credit cards.
    • Business insurance – leading UK broker Arthur J Gallagher searches a wide range of insurers to find the right cover for the right price.
    • Lloyds Bank Cardnet® allows you to accept card payments in person, online or by phone, with no joining fees.

    Online guides

    A suite of practical guides to inform your business decision making.

    Key features and benefits

    • 12 months’ free day-to-day1 business banking for new businesses2
    • Dedicated support from our UK-based business management team
    • Simple pricing including free electronic payments
    • Mobile Business Banking app*
    • Useful guides and practical business tools

    Is my business eligible?

    • To qualify for this account you need to be a sole trader, partner or company director and be aged 18 or over
    • Have a turnover of less than £3m

    What we’d need to know

    We have worked with other providers of UK business banking accounts to help you prepare by agreeing a basic set of information that we’ll need from you.

    • 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

    • Make sure you understand the small print.

       

    Other options

    If our Business Account for New Businesses isn’t right for you, here are some other accounts you may be interested in.

    Switch your account to us

    Businesses with an annual turnover over £3m

    Treasurer's Account

    Existing customers

    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.

    Download the statement of responsibilities (PDF) 

    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.

    Important legal information

    Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500

    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.

    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.

    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.
    Cashpoint ® is a registered trademark of Lloyds Bank plc.
    Cardnet® is a registered trademark of Lloyds Bank plc.