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Simple ongoing fees and transaction 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	See our Account Charges and Processing Times (PDF, 666KB)
Payment type Balances below £0 (going overdrawn)	See our Account Charges and Processing Times (PDF, 666KB)
Payment type Other account services	See our Account Charges and Processing Times (PDF, 666KB)

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.

UK Finance business account opening guide

Frequently asked questions

Can I use my personal bank account for a small business? expandable section
Using a business bank account to run your small business rather than your personal account can help you:

Control business incomings and outgoings, including card payments.

Organise finances for tax returns.

Build a stronger business credit history.

With a Lloyds Bank business account, you can also access our other services to help manage your cashflow and grow your business.
Is a business bank account suitable for sole traders? expandable section

Yes, if you are a sole trader running your own business and self-employed. While you’re not legally required to have a business account, keeping all your business transactions in one place can make managing your finances easier.
Do I need public liability insurance for a small business in the UK? expandable section

While it’s not a legal requirement to have public liability insurance for a small business in the UK, accidents can happen, and public liability can be there for when those moments occur. Though it’s not mandated in the UK, some associations and local authorities may ask for proof of public liability insurance before you can register with them. We offer a range of business insurances, including public liability insurance, which you can get a quote for today.

¹Electronic payments include:

Direct Debits
Standing Orders
Faster Payments Debits
Internet/Phonebank Debits
Internet Bulk Payments.

**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.

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).

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