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Business Accounts for start-ups and small businesses
Our accounts come with everything you need to help make managing your finances easy.
All your start-up business banking needs in one place
Meet the Business Account that works as hard as you
Choose us and get more than just a bank account
Frequently asked questions
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Find out more about our Business Account fees and charges.
Payment type
Charges
Payment type
Introductory offer
Charges
No monthly account fee for 12 months if it’s your first business account with us
Payment type
Monthly account fee
Charges
£8.50 after 12 months
Payment type
Electronic payments in2
Charges
Free
Payment type
Electronic payments out2
Charges
First 100 a month are free / £0.20 each after that
Payment type
Cash payments (in or out)
Charges
£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)
Charges
£0.85 at an Immediate Deposit Machine / £1 over the counter
Payment type
Credit paid in at branch or ATM
Charges
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Charges
Free
Payment type
BACS
Charges
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
Charges
£30
Payment type
Sending and receiving money abroad
Charges
Payment type
Balances below £0 (going overdrawn)
Charges
Payment type
Other account services
Charges
No credit interest is payable on this account.
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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Yes, you can open a business bank account online if your estimated turnover for the next 12 months is under £3 million.
Annual turnover between £3 million and £25 million? Find out how to apply.
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Whether you're a freelancer, small business, sole trader or limited company having a dedicated business account has lots of benefits. Keeping business finances separate from your personal income and having all your business transactions in one place can make managing your finances easier.
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Yes, if you are a sole trader running your own business and self-employed. Keeping business finances separate from your personal income and having all your business transactions in one place can make managing your finances easier.
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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, 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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In-branch cash and deposit machines, for notes and cheques. Limits and charges will apply.
Other options:
- Withdraw cash, notes only, from any LINK ATM. Most don't charge a fee.
- Withdraw or deposit coins and notes at Post Offices or Banking Hubs. Limits and charges will apply.
- You can find out about your options on LINK's Cash Locator.
- Some locations charge a fee to make a withdrawal or deposit. If they do, it'll be clearly signed in store and on the machine. You'll be able to cancel the transaction if you don't want to pay the charge.
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We work with LINK to carry out assessments of places which might need better cash access services.
Concerned about access to cash in your area?
Link may have already looked at your area and made a recommendation to make things better.
If not, you can request an access to cash assessment in your area.
Want to know how decisions are made about cash?
Find out more about LINK’s process.
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