Free day-to-day banking for 12 months

Bank online, with our mobile app, in branch, or over the phone.

Key fees and charges:

  • You will be charged if your balance goes below zero
  • Fees apply if you send and receive money from abroad
  • After 12 months you'll pay £7 per month plus our ongoing fees and transaction charges

See our ongoing fees and charges

Is this account right for you?

You must:

  • Be at least 18 years old
  • Be a sole trader, partner or company director
  • Be applying for your first bank account with us
  • Have an annual turnover of less than £3m 

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. 

Apply now for a Business Current Account

Free banking for your first year with us and borrow up to £5,000**

No monthly account fees

No monthly account fees

  

Free cash deposits, withdrawals and electronic payments

Free cash deposits, withdrawals and electronic payments

Borrow up to £5,000**

Borrow up to £5,000**

Simple ongoing fees and transaction charges
 

Business account rates and charges

Payment type

First 12 months

After 12 months

Payment type

Monthly account fee

First 12 months

Free1

After 12 months

£7.00

 

Payment type

Electronic payments2 (in or out)

First 12 months

Free

After 12 months

Free

Payment type

Cash payments (in or out)

First 12 months

Free

After 12 months

The first £1,500 per month - £1.00 per £100

Anything over £1,500 per month - £0.90 per £100

Payment type

Cheques (in or out, any amount)

First 12 months

Free

After 12 months

£0.85

Payment type

Counter payments and other deposit services (credit in)

First 12 months

Free

After 12 months

£0.85

Payment type

Sending and receiving money abroad

First 12 months

Fees and charges apply.
See our International services tariff (PDF, 3.7MB)

After 12 months

Fees and charges apply. 
See our International services tariff (PDF, 3.7MB)

Payment type

Balances below £0 (going overdrawn)

First 12 months

Fees and charges apply.
See our unauthorised borrowing charges (PDF, 302KB)

After 12 months

Fees and charges apply.
See our unauthorised borrowing charges (PDF, 302KB)

See the full account rates and charges (PDF, 302KB) and product terms and conditions.

Estimate with our calculator how much your business account could cost per month after the first year.

UK Finance business account opening guide

 

Borrow up to £5,000 for your new business

You could apply for up to £5,000 across a Business Overdraft or Business Credit Card, giving you financial flexibility when you need it.  It could help you get your business off the ground, build your credit rating and cover any unexpected costs.

**Apply online once your new Business Current Account is set up and you’ll get an instant decision. Eligibility for lending will be assessed as part of a separate application, and there is no guarantee of lending being granted. All lending is subject to status. 

Our business banking app

 

Easy and convenient banking

Log in at a time that suits you using your secure login details. For extra security, use fingerprint and Face ID on compatible devices3

  • Make payments of up to £250,000 per day
  • Pay in cheques up to a daily limit of £10,000
  • Check balances and transaction details
     

More about the app

Apply for a business account in minutes

Scan QR code to download app

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3m a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK
     
  • Download on the App Store
  • Get it on Google Play

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3m a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK
  • Download on the App Store
  • Get it on Google Play

Bank accounts for other types of businesses

Bank accounts for other types of businesses

If you don’t meet the criteria for a small business account, a large business account may be better suited. Find out more about the different business accounts we offer.

See all business bank accounts

Frequently asked questions

Further resources 

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 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®

*Lloyds Banking Group PLC – 2022 Annual Report

1Applies to small businesses, including individuals setting up their first business bank account.

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 as indicated 
  • Internet/Phonebank Debits/Credits
  • Faster Payments debits and credits
  • internet bulk payments
  • automated credits.

3You'll need iOS or Android. The app is not compatible with some older versions of these operating systems. Please check the Apple App Store or Google Play. You'll need to have registered for Online for Business. Terms and conditions apply (PDF, 251KB).

Cashpoint® is a registered trademark of Lloyds Bank plc.

Cardnet® is a registered trademark of Lloyds Bank plc.

Independent service quality survey results

Business current accounts


Published February 2024

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 15 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 84%, 2nd Starling Bank 83%, equal 3rd Tide 74%, equal 3rd Handelsbanken 74%, 5th Metro Bank 65%, equal 6th Lloyds Bank 60%.

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

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.

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.