Change your business address
If you're a full access user, you can update your business, registered, mailing and personal addresses within Online for Business and the Business banking app.
Switch your business account to Lloyds
Big rewards when you switch to Lloyds - offer ends 15 October.
- Get a £200 boost, 6-months’ free Xero and a £200 Amazon gift card.
- No account fee for 12 months, then £10 a month.
Why switch your business bank account to Lloyds?
Switch your Business Account. Enjoy the extras
£200 boost, Xero accounting software and a £200 Amazon gift card when you switch to a Lloyds Business Account.
Switch to a Business Account that works as hard as you
How to switch your business bank account
If your business has a turnover under £3 million, switch to Lloyds using the Current Account Switch Service.
Switching business bank account with the Current Account Switch Service (CASS) is free and keeps your business account transfer secure and straightforward.
Can I apply for a Lloyds Business Account?
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What information will I need to open my business bank account?
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.
Can I switch my Business Account?
Yes, you can easily switch your current business account to a Lloyds business account using the Current Account Switching Service. Once you’ve given us your details, sit back while we handle the rest.
How long does it take to switch business accounts?
Under the Current Account Switch Service (CASS), it can take around seven working days to switch your business bank account. This happens once your new account is open and the transfer date has been arranged. However, the entire process – including application approval, identity reviews, and manual setups – can take between a few days and 3 weeks.
At Lloyds, we aim to handle your business banking switch as swiftly as possible.
What do I need to do once my business bank account is switched?
Once you’ve successfully switched your business bank account, you’ll need to:
- download your bank statements before your account is switched
- update clients and payees that the account has changed and give new details
- reconnect any accounting tools
- update your HMRC accounts
- check that your new debit cards work properly.
Can I return to my application while switching business accounts?
If you’ve already started an online application to switch your business bank account, you can continue it or check its status at any time. Just use the link in the resume application email, which you’ll get once you’ve provided your personal details.
Can a bank reject me switching my business account to them?
Yes, a bank can reject a request to switch business bank accounts and this may happen for a variety of reasons. One of the main things to note for a switch to be successful is that the receiving bank must first approve your new business account application. If your business fails the bank’s financial, identity, or risk checks, the bank is likely to decline the application and reject the switch.
Get more from your Business Account after your switch
More rewarding Business Cards
Frequently asked questions
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The Current Account Switch Guarantee ensures your current account will switch on a day of your choice, your payments will be automatically transferred and redirected to your new account, and in the unlikely event anything goes wrong with your switch, we will refund any interest (paid or lost) and charges (incurred on your old or new current accounts) as a result of this failure as soon as it is brought to our attention.
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The Current Account Switch Service is a fast and simple way to switch your Business Account to us. It’s available for UK current accounts held with participating banks.
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.
It’s only available for Sterling Current Accounts. 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.
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Lloyds Business Bank Account fees and charges. Payment type
Charges
Payment type
Monthly account fee
Charges
Free for the first 12 months, then £10 a month.
This introductory offer on the monthly account fee is only available for first-time Lloyds Business Accounts.Payment type
Electronic payments in2
Charges
Included at no extra cost
Payment type
Electronic payments out2
Charges
Included at no extra cost
Payment type
Cash payments (in or out)
Charges
£0.85 for every £100 at an Immediate Deposit Machine / £1.60 for every £100 over the counter
Payment type
Cheques (in or out, any amount)
Charges
£0.85 at an Immediate Deposit Machine or through the app / £1.20 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
No fee
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, 222KB) 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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The Current Account Switch Service is designed to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take 7 working days. As your new current account provider, we offer the following guarantee.
The business banking switch service is free to use, and you can choose and agree on your switch date with us.
- We’ll take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (like your salary).
- If you have money in your old account, we’ll transfer it to your new account on your switch date.
- We’ll arrange for payments accidentally made to your old account to be automatically redirected to your new account. We’ll also contact the sender and give them your new account details.
- If there are any issues in making the switch, we’ll contact you before your switch date.
- If anything goes wrong with the switch, as soon as we are told, we’ll refund any interest (paid or lost) and charges made on either your old or new current accounts because of this failure.
Read the account switching guide (PDF, 280 KB)
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Steve Athwall CEO/Founder, The Big Phone StoreWith Lloyds, we know our money is in safe hands, and we have someone who understands our business and is always ready to support us, it gives us confidence to keep moving forward.