Join the one million businesses that bank with us, today
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Business Accounts equipped with all the essentials you need
What you'll need to complete your application
- details about you, where you’ve lived, and your tax status
- information about your business, including what you do, who you work with, and where you work
- a way to take a live photo of your signature and one of yourself
- a form of ID such as your passport or UK driving license
- proof of your business address such as a utility bill.
Is this account right for my business?
You can apply for this account if:
- you’re at least 18 years old
- you’re a UK resident and have a UK mobile phone number
- you’re a sole trader or director of the business
- the business has an annual turnover of £25 million or less
- the business is trading from an address in the UK.
If you have a limited company:
- it must be registered in the UK with a UK trading address
- it must have been registered with Companies House for at least four days
- check that no changes have been made to the Companies House register in the past four days
- it must have an ‘active’ status on the Companies House register.
Frequently asked questions
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Find out more about our Business Account fees and charges.
Payment type
Payment type
Introductory offer
No monthly account fee for 12 months
Payment type
Monthly account fee
£8.50 after 12 months
Payment type
Electronic payments in1
Free
Payment type
Electronic payments out1
First 100 a month are free / £0.20 each after that
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
Payment type
Cheques (in or out, any amount)
£0.85 at an Immediate Deposit Machine / £1 over the counter
Payment type
Credit paid in at branch or ATM
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Free
Payment type
BACS
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
£30
Payment type
Sending and receiving money abroad
Payment type
Balances below £0 (going overdrawn)
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.
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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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If you run a small business, there are various benefits to having a business bank account with Lloyds Bank:
- 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 for a small business or start-up account, 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. Find out more about switching bank accounts.
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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.
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The Current Account Switch Service is a fast and simple way to switch your Business Account to us.
Before using the service, check it’s right for you. Your business must:
- have an annual turnover below £6.5 million
- employ fewer than 50 people.
You’ll also need to check that your existing bank is signed up to the service. Over 50 banks and building societies take part in the Current Account Switch Service - view the full list here.
Got a different question? Check the Current Account Switch Service FAQ page.
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.
*Apply online once your new Business 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.
1Electronic payments include:
- Direct Debits
- Standing Orders
- Faster Payments Debits
- Internet/Phonebank Debits
- Internet Bulk Payments
*Eligibility criteria apply.
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