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You can pay in cheques, transfer money, and do much more, all from your mobile.
Switch your business bank account
Switch to us and get the tools to manage and grow your business.
All your business banking needs in one place
How switching works
Hassle-free switching
If you have a turnover under £3 million, switch using the Current Account Switch Service. We’ll switch everything over within seven working days of your account opening.
Open a Business Account without switching
Apply today for a Business Account. If you qualify for the Current Account Switch Service, you can still use it to switch later.
Meet the Business Account that works as hard as you
Choose us and get more than just a bank account
Frequently asked questions
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Find out more about our Business Account fees and charges.
Payment type
Charges
Payment type
Introductory offer
Charges
No monthly account fee for 12 months if it’s your first business account with us
Payment type
Monthly account fee
Charges
£8.50 after 12 months
Payment type
Electronic payments in2
Charges
Free
Payment type
Electronic payments out2
Charges
First 100 a month are free / £0.20 each after that
Payment type
Cash payments (in or out)
Charges
£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)
Charges
£0.85 at an Immediate Deposit Machine / £1 over the counter
Payment type
Credit paid in at branch or ATM
Charges
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Charges
Free
Payment type
BACS
Charges
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
Charges
£30
Payment type
Sending and receiving money abroad
Charges
Payment type
Balances below £0 (going overdrawn)
Charges
Payment type
Other account services
Charges
No credit interest is payable on this account.
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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To open your business account, you’ll need:
- A copy or photograph of your signature
- A UK driving licence or passport
- The name, date of birth and three-year personal address history (including month and year of moving dates), mobile number and email address for everyone connected to the account.
- Your business name, address, details of your activities and estimated annual turnover
- For limited company accounts, Companies House must be up to date before we can progress an application. Please allow four days from the date of Companies House registration before applying online or over the phone.
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Switching your bank account and get benefits such as:
- Separate business from personal transactions to make business accounting easier
- Access expert resources and support to grow your business skills
- Manage your accounts using online business banking.
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If you’ve already started an online application, you can continue or check the status of your application at any time using the log on button in your welcome email, which you’ll get once you’ve provided your personal details.
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Yes, you can easily switch your current business account to a Lloyds Bank business account using the Current Account Switching Service. Once you’ve given us your details, you can sit back and we’ll manage the rest for you.
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The Current Account Switch Service lets you switch your current account from one bank or building society to another in just seven working days. It's simple, reliable, and stress-free. We move everything over to your new account, redirect any payments sent to the old account, and make sure your old account is closed.
- The service is free to use and you can choose and agree your switch date with us.
- We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
- If you have money in your old account, we will transfer it to your new account on your switch date.
- We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
- If there are any issues in making the switch, we will contact you before your switch date.
- If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
Protecting your money
The Financial Services Compensation Scheme (FSCS) protects up to £85,000 of the eligible money you hold with us.
Independent service quality survey results
Business current accounts
Published August 2025
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 17 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