Business Overdrafts
Be financially flexible with a business overdraft.
Getting to know your business
Why do we need to know more about your business?
At Lloyds, we prioritise your security and strive to provide a seamless experience. By giving us up-to-date information, you’ll help us protect your business from fraud and money laundering. You’ll also enjoy a smoother financial journey.
Help us to look after your interests so you can focus on what you do best.
What do we ask for?
We want to get an accurate picture of your business so we can keep it safe. The details we need might change depending on what we already have.
How can you give us the information we need?
We use a secure service from Intralinks called ‘Your Business Information’. It’s a safe and easy way for you to update your business details.
How often will you have to do this?
It depends. It’s not at set times. Sometimes, we’ll automatically check to make sure we have your latest details. Or occasionally, we might ask you to update them manually, perhaps if we’ve found a mismatch with official records like Companies House or a small error in your file.
Get help with your review
Frequently asked questions
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We understand that you might be wondering why we’re asking for your details again. After all, you already gave them to us when you opened your account. Here’s why we need them:
- Regulatory requirements: we have to make sure our customers’ information is up to date to meet regulations. It also helps us protect you against financial crime.
- Changes in your business: sometimes, things change, and we need to make sure our records are up to date, for example:
- you’ve moved around key people, like directors or owners, or if we think we might not have everything we need to know about your current team
- you want to open a new product to support developments in your business activities
- you’ve changed your business info, like your registered address.
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If we can’t confirm that your business information is up to date, we might have to stop letting you use our financial products and services. This could mean you’ll have to find another bank. But don’t worry, we’ll always give you plenty of time to provide us with the information we need to avoid this.
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If you think we have outdated info about your business, just update us through:
- Online for Business
- Telephone Banking
- Or by getting in touch with your relationship manager, if you have one.
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When it’s time to activate your account for the first time, you’ll get an invite from us. Look out for a ‘Welcome to Intralinks’ email from Intralinks. You can find out more about ‘Your business information’ here.