School Bank Account

As an approved banking partner of the Institute of School Business Leadership (ISBL) we understand the challenges schools face. Our School Bank Account has been developed specifically for state-funded schools and academies.

Key features and benefits

  • Free day-to-day business banking¹
  • Sector specialists on hand to support you
  • Monthly interest paid on your business accounts
  • No charges for returning cheques recalled by the payer’s bank

Is my business eligible?

To apply for our School Bank Account, you must:

  • Be a state-funded school or academy
  • Require the account for business use
  • Independent schools please visit our dedicated services page

Business turnover between £0-3 million

We’ve taken the difficult decision to temporarily stop accepting new School Bank Account applications to ensure colleagues can continue to provide vital support to existing customers at this unprecedented time. This also applies to any applications that have already started.

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

Business turnover between £3m-25 million

For state funded schools or academies with an annual business turnover between £3m-25 million, to apply for a School Bank Account please complete an enquiry form.

Start enquiry form

Other options

Financial Services Compensation Scheme

Due to FSCS eligibility criteria not all business customers will be covered.

FSCS Logo 

¹Free day-to-day business banking applies if you continue to meet our eligibility criteria. This  means you have to be a state funded school or academy. We apply a specialist tariff on our School Bank Account. Our specialist tariff is provided free of charge, however charges for CHAPS, International Payments, Online Channels and other service charges apply. Information on other service charges that apply can be found in the relevant charges brochure.

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.