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. 

Why switch your business account to us?

Helpful tools

Manage your finances on-the-go with our Business Banking app and access practical business support.

First year free

Includes 12 months’ free1 everyday business banking for smaller businesses2.

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 business management team based in the UK.

Borrow up to £25,000

Apply for up to £25,000 across a Business Overdraft or Business Credit Card*.

Trusted by business

Over a million small and medium-sized businesses3 have chosen to bank with us too.

Print Clever logo

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.


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. 

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 larger businesses, as well as schools, community groups and charities.

Business bank accounts

Business account rates and charges

Am I eligible for a business account?

How to apply

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

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

UK Finance business account opening guide


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

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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

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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

1 Free day-to-day business banking includes:

  • electronic payments
  • cheques
  • cash
  • deposits and withdrawals.

All we ask is that you operate your account in credit or within agreed limits.

2Applies to small businesses, including individuals setting up their first business bank account.

3Lloyds Banking Group PLC – 2021 Annual Report

4Free 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.

Cashpoint® is a registered trademark of Lloyds Bank plc.

Cardnet® is a registered trademark of Lloyds Bank plc.

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:

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.