Switch your business bank account
Switch your business bank account and access the support and services your business needs.
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.
Simple ongoing fees and transaction charges
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Payment type |
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|---|---|
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Payment type Introductory offer |
No monthly account fee for 12 months |
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Payment type Monthly account fee |
£8.50 after 12 months |
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Payment type Electronic payments in1 |
Free |
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Payment type Electronic payments out1 |
First 100 a month are free / £0.20 each after that |
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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 |
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Payment type Cheques (in or out, any amount) |
£0.85 at an Immediate Deposit Machine / £1 over the counter |
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Payment type Credit paid in at branch or ATM |
£0.85 |
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Payment type Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app |
Free |
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Payment type BACS |
File submission: £5.50 BACS Item: £0.15 (a set up fee may apply) |
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Payment type CHAPS |
£30 |
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Payment type Sending and receiving money abroad |
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Payment type Balances below £0 (going overdrawn) |
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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.
Frequently asked questions
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Once you contact us your business bank account will switch within seven working days from when your new account is opened under the Current Account Switch Service guarantee.
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No, you won’t need to close your old bank account yourself. Your old bank will close your account as part of the Current Account Switch Service process. All you need to do is fill in the instruction form to authorise the closure.
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Making the switch to a business bank account with Lloyds Bank, or any other bank using by the Current Account Switch Service, is straightforward. It’s an easy process designed to make changing banks and transferring important information stress-free. Sit back and wait until your switch date and we’ll take care of the rest.
Independent service quality survey results
Business current accounts
Published August 2024
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 16 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