Multi Academy Trusts and Academies
We look after the banking needs for more than half of all academies. Our experience of the education sector's banking requirements means we are able to offer a comprehensive banking service based on the things that we know are important to you.
Whichever route you've chosen for your school, from Multi Academy Trust, or stand alone academy or free school, your banking is in experienced hands. We’re the approved banking partner for the Institute of School Business Leadership and we work with the Confederation of School Trusts, because we understand the challenges you face and the solutions you need.
How we can help
- A Local Business Manager will be on hand to help you open your account.
- Free daily banking* to make the most of your resources.
- A preferential rate of interest, paid monthly, on school current accounts.
- High interest deposit accounts for surplus funds.
- An Internet Banking service with options for multi-party authorisation.
- Cash collection can be arranged for you by our authorised security company (cost depends on your individual school's requirements).
- A deferred checking service helping to avoid delays at branch counters.
We're in the midst of the largest shake up of our education system in more than a generation, so it's never been more important for those in the education sector to have the right support and guidance. Our national team of Education relationship managers look after more than half of all academies.
This has allowed us to develop a great depth of knowledge and understanding of schools, their challenges and their financial needs.
School Bank Account
Our School Bank Account has been developed for state-funded schools, academies and those schools on their way to becoming academies.
Flexible bespoke deposit account
We can help you make the most of your cashflow by setting up flexible bespoke deposits. We offer:
- flexible terms to suit your cashflow
- fixed rate deposits from overnight to three years
- interest paid on your School Bank Account.
Helping you switch your account
Moving your account to us is much easier than you would expect. We understand how daunting changing banks can be. Even if you are unhappy with your current bank, you may not want the added hassle of switching. That's why we'll give you a team dedicated to managing your changeover, leaving you free to concentrate on your business. We offer:
- a dedicated transfer unit to help you move your account to us
- a simplified mandate completion procedure, ensuring hassle-free changeover
- your new account number usually within 48 hours
- no requirement for state-funded school signatories to provide identification.
If you want to open a school account, contact your local education relationship manager to make an appointment.
Our Internet Banking is safe and easy-to-use. You can:
- view statements and manage payments online
- create and submit BACS, CHAPS, faster payments and international transactions
- benefit from high level security through unique authentication cards and readers
- have authorisation protocols tailored to suit your needs, such as multi-person authority.
We've partnered with ParentPay to help you reduce one of the most time consuming tasks for any school's finance department – the handling of cash payments for dinner money, school trips, music lessons and other items.
ParentPay provides an all-in-one, online payment, income management and communication solution for schools, local authorities and caterers.
ParentPay is already helping thousands of schools save time and money by enabling parents to make payments for a range of school items online. And they're offering our customers a discount on the first years standard set-up, training and annual service fees.
Features and benefits
Saves you time
- ParentPay helps your administration, taking pressure off finance staff.
- Helps schools reduce parent debt.
- Provides clear, concise income reporting, letting you redirect resources.
Saves you money
- ParentPay improves financial reconciliation in schools.
- Reduces errors and ensures an audit trail is available.
- Increases staff security by reducing or removing cash held in schools.
Better for children
- Reduces the social stigmas linked with free school meals.
- Helps reduce bullying and anti-social behaviour.
Lex Autolease is the UK’s leading fleet management and funding specialist, helping you meet the challenges of operating vehicles for your educational establishment.
With the automotive industry going through an unprecedented period of change –evolving mobility options, advancements in vehicle technology and changes to policy and legislation –working with a fleet provider who can deliver comprehensive support, detailed guidance and an excellent customer experience is more important than ever.
- Budget more effectively by agreeing a fixed monthly cost.
- VAT efficient solutions for relevant organisations.
- Optional maintenance facility for hassle-free vehicle management.
- As a form of operating lease, contract hire complies with school funding regulations.
- Minimal deposit and lower monthly costs compared to other vehicle finance solutions.
- Personal Contract Hire available for staff members
Commercial Vehicle Team
- Our minibus offering allows for drivers without a D1 classification.
- Save time with reduced administration.
- Cost savings through purchasing power mean prices are competitive.
Corporate MultiPay provides an efficient and secure way of paying for your travel and business purchases on one account.
It can help to reduce time spent on administration, automate the reconciliation of purchases and increase the visibility of colleagues' card spend.
- Processing efficiencies, automated data capture and tailored MI reports.
- Making payments promptly improves supplier relationships and allows you to take full advantage of available discounts.
- Optimises your cash flow with up to 45 days to pay interest-free on purchases.
- Consolidated reporting which can be used as evidence for VAT reclaims.
- Cards provided free of an annual card fee.
- Separates personal spending from business card spend.
- Provides the convenience of making payments at millions of locations worldwide that accept MasterCard.
- Simplifies expense claim authorisation.
- Provides travel inconvenience assistance, including medical and legal referral, at no extra cost.*
- Make contactless payments on transactions up to £30 at participating retailers.
For more information on Corporate MultiPay.
*Does not provide cover for cancellation/medical expenses.
*Free daily banking applies to state-funded schools only and includes day to day tariff transactions such as 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. Note that charges for other services may apply.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500
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.