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Switch your business bank account
Switching your account to us means you’ll get access to all the tools you need to make managing your business easier and to help your business grow.
Switch todaySwitching your business bank account to us is easy
Take the hassle out of switching your account using the Current Account Switching Service. Once your account is opened, everything will be switched within 7 days.
How switching works
- Give us the details of the account you want to switch
- Choose the date you want the switch to happen
- Leave the rest to us
And get ready to join the 1 million businesses who already bank with us.
You must be 18 years or over.
Switch your business account
Switch to us with ease using the Current Account Switching Service. Once your account is opened, everything will be switched within 7 days.
More than just a business account
As well as getting digital banking with no account fee for 12 months, you’ll also benefit from:
Access to £25,000 to grow your business
Manage your cash flow and help your business grow with access to up to £25,000 across a Business Credit Card or Business Overdraft. Once your Business Account is set-up you can apply online and get an instant decision*.
Free accounting software to stay in control of your finances
- Connect all your business accounts to see everything in one place
- Digitally submit VAT to HMRC and stay on top of your VAT position all year round
- Automate your finances with tools like expense tracking and cash flow forecasting
Tools and support to help your business grow at your fingertips
Take payments wherever you are
Wherever you are and however your customers choose to pay, take payments with ease using our payment solutions.
We’re here for the long haul
As your business grows, your finance needs will change and evolve too. Wherever you decide to take your business next, we can help with a wide range of finance solutions to suit your needs.
Frequently asked questions
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Find out more about our Business Account fees and charges.
Payment type
Payment type
Introductory offer
No monthly account fee for 12 months
Payment type
Monthly account fee
£8.50 after 12 months
Payment type
Electronic payments in1
Free
Payment type
Electronic payments out1
First 100 a month are free / £0.20 each after that
Payment type
Cash payments (in or out)
£0.85 for every £100 at an Immediate Deposit Machine / £1.50 for every £100 over the counter
Payment type
Cheques (in or out, any amount)
£0.85 at an Immediate Deposit Machine / £1 over the counter
Payment type
Credit paid in at branch or ATM
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Free
Payment type
BACS
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
£30
Payment type
Sending and receiving money abroad
Payment type
Balances below £0 (going overdrawn)
Payment type
Other account services
See the full account rates and charges (PDF, 666KB) and product terms and conditions.
Estimate with our calculator how much your business account could cost per month after the first year.
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Your business bank account will switch within seven working days from when your new account is opened under the Current Account Switch Service guarantee.
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No, you won’t need to close your old bank account yourself. Your old bank will close your account as part of the Current Account Switch Service process. All you need to do is fill in the instruction form to authorise the closure.
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Making the switch to a business bank account with Lloyds Bank, or any other bank using the Current Account Switch Service, is straightforward. It’s an easy process designed to make changing banks and transferring important information stress-free. Sit back and wait until your switch date and we’ll take care of the rest.
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.
*Apply online once your new Business 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.
1Electronic payments include:
- Direct Debits
- Standing Orders
- Faster Payments Debits
- Internet/Phonebank Debits
- Internet Bulk Payments.
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
The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here