Switch your business account

Switch to us for a simple business account and access to our bespoke products and services designed to help your business succeed.

Ready to apply?

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.

Key features and benefits

  • Guaranteed switch in 7 working days using the Current Account Switch Service
  • 12 months free day-to-day banking* with a simple pricing plan beyond that
  • Access your account however it suits you via mobile, online or telephone banking
  • Access a range of borrowing and saving products
  • Useful guides and practical business tools to help you grow
  • Dedicated support from our UK-based business management team

Current Account Switch Service

We can move everything for you

  • Transfer all payments for at least the next three years
  • Transfer any outstanding credit or debit balance
  • Arrange to close your previous account

Transfer of Payment Arrangement Service

We can move individual payments and balances for you

  • Specify the payments you would like us to transfer
  • Transfer any outstanding credit or debit balance
  • Choose whether or not to arrange to close your previous account

Is my business eligible?

To switch your business account to us you should:

  • Have annual business turnover between £0-3 million
  • Require the account for business use
  • Be a sole trader, partner or director and aged 18 or over

  • When your 12 month free banking period ends, there’s a simple price plan with no charge for electronic payments, including withdrawing cash from a cash machine and paying by debit card.

    Monthly account fee

    £7.00

    Electronic payments (in or out)

    Free

    Cash payments (in or out)

    The first £1500 per month.

    £1 per £100

    Cash payments  (in or out)

    Anything over £1500 per month.

    £0.90 per £100

    Cheques (in or out)

    £0.85

    Credit in

    £0.85

  • If anything goes wrong with the switch, as soon as we are told we will refund any interest or charges you have incurred on your old or new account as a result of a delay caused by us. This does not cover changes or interest resulting from required tasks you or your old bank do not complete.

    Current Account Switch Guarantee (PDF, 66KB)

    Current Account Switcher Guide (PDF, 70KB)

    Find out more about our terms and conditions.

FSCS logo

Financial Services Compensation Scheme

Eligible deposits with Lloyds Bank plc are protected up to a total of £85,000. Due to FSCS eligibility criteria not all business customers will be covered.

Other options

Ready to apply?

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.

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.

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

Any property given as security, which may include your home, may be repossessed if you do not keep up repayments on your mortgage or other debts secured on it.

All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business. 

You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action. 

All lending is subject to status. Security may be required.

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.