Apply now for a Business Account

Digital banking with no account fee for 12 months

Bank online, with our mobile app, in branch or over the phone. 

  • After 12 months, there’s a monthly fee of £8.50. Some fees and transaction charges will apply as soon as the account is open.
  • This offer only applies to the business’s first current account.

Check the fees and transaction charges that will still apply

Is this account right for you?

You must:

  • Be at least 18 years old
  • Be a sole trader, partner or company director
  • Be applying for your first bank account with us
  • Have an annual turnover of less than £25m.
 

What you need to apply

  • A copy or photograph of your signature.
  • Name and date of birth of everyone connected to the account
  • Three years personal address history (including month and year of moving dates) of everyone connected to the account.
  • Mobile number and email address of the Key Account Party
  • Business name, address, details of your activities and estimated turnover.
  • Companies House must be up to date for limited companies. Please allow 3 days from the date of Companies House registration before applying online or over the phone.

UK Finance business account opening guide

 

Free accounting software for Lloyds Bank business account holders

Connect Business Finance Assistant to your business accounts to predict cash flow, submit VAT returns and much more

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 

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.

UK Finance business account opening guide

 

Borrow up to £5,000 for your new business**

You could apply for up to £5,000 across a Business Overdraft or Business Credit Card, giving you financial flexibility when you need it. This could help you get your business off the ground, build your credit rating and cover any unexpected costs.

**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. 

 

Apply for a business account in minutes

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3m a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK
  • Download on the App Store
  • Get it on Google Play

Apply for a business account in minutes

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3m a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK
  • Download on the App Store
  • Get it on Google Play

Frequently asked questions

  • 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.

  • 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.

  • 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 February 2024

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 15 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

Business current accounts overall service quality survey results: 1st monzo 84%, 2nd Starling Bank 83%, equal 3rd Tide 74%, equal 3rd Handelsbanken 74%, 5th Metro Bank 65%, equal 6th Lloyds Bank 60%.

View the full set of results

The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

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.