Digital banking with no account fee for 12 months

After 12 months, there's a monthly fee of £8.50. Some fees and transaction charges will apply as soon as the account is open.

This offer only applies to the business's first current account.

Check the fees and transaction charges that will still apply

Is your business eligible?

You must:

  • Be at least 18 years old
  • Be a sole trader, partner or company director
  • Not already have a Lloyds Bank business account for this business
  • Have an annual turnover of less than £25 million.

Apply for a Business Account

Looking to switch your business account?

Looking to switch your business account?

If your business has an annual turnover of under £25 million, you can apply online to switch your business bank account.

Apply now

Why switch your business account to us?

Trusted by business

Over a million small and medium-sized businesses1 have chosen to bank with us too.

Switch Guarantee

Use the Current Account Switch Service to switch your business bank account easily within seven working days of your new account opening.

Expert support

Access support and guidance from our Relationship Team based in the UK.

Borrow up to £25,000 to grow your business

You could apply for up to £25,000 across a Business Overdraft or Business Credit Card when you switch to us, giving you financial flexibility when you need it. This could help you manage your cash flow, grow your business 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.

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Switching to us is easy

The Current Account Switch Service makes switching current accounts from one UK bank or building society to another simple, reliable and stress-free. It is available to consumers, small businesses, charities and trusts and allows you to choose a switch date that suits you.

Current Account Switch Guarantee (PDF, 65KB)

Current Account Switch Guide (PDF, 71KB)

How does switching my business account work?

After you apply to switch your business bank account with the Current Account Switch Service, we will:

1. Close your old account

Arrange for your old bank to close your previous account and transfer any credit balance to your new Lloyds Bank account.

2. Switch your payments

Transfer all incoming and outgoing payments within the seven-working-day guarantee.

3. Redirect future payments

Redirect all payments to and from your old account to your new account for at least three years.

4. Refund fees if needed

Refund you for any interest or charges incurred on your old or new account as a result of an unlikely delay caused by us.

What types of business bank accounts do we offer?


Our business bank accounts

Find out about our business bank accounts that support all types of businesses, from independent sole traders to growing businesses, as well as schools, community groups and charities.

Business accounts

Pick up where you left off

Pick up where you left off

If you’ve already started an online application for a business account, you can continue or check the status of your application at any time.

Complete your application

Business account rates 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 in2


Payment type

Electronic payments out2

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


Payment type

Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app 


Payment type


File submission: £5.50

BACS Item: £0.15 (a set up fee may apply)

Payment type



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.

UK Finance business account opening guide

How to apply

When you apply to switch your business account, please have the following ready:

  1. A copy or photograph of your signature
  2. Name, date of birth and three-year personal address history (including month and year of moving dates) for everyone connected to the account 
  3. Mobile number and email address of the Key Account Party
  4. Your business name, address, details of your activities and estimated turnover
  5. For limited company accounts, Companies House must be up to date before we can progress an application. Please allow three days from the date of Companies House registration before applying online or over the phone.

UK Finance business account opening guide

Frequently asked questions

FSCS Protected

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

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®

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).


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

1Lloyds Banking Group PLC – 2022 Annual Report

2Electronic payments include:

  • Direct Debits
  • Standing Orders
  • Faster Payments Debits
  • Internet/Phonebank Debits
  • Internet Bulk Payments

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. 

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, 60KB)