School Bank Account

Our School Bank Account has been developed specifically for state-funded schools, academies and those schools on their way to becoming academies.

You’ll get free banking, interest paid monthly and our business management team are available to advise you via telephone or email.

We're the approved banking partner for the National Association of School Business Management, so we understand the challenges schools face and in an excellent position to help you make the most of your resources.

Features and benefits

  • Free day-to-day business banking¹
  • Monthly interest paid on business accounts
  • Internet Banking with options for multi-person authorisation
  • A range of deposit accounts available for surplus funds
  • No charges for returning cheques recalled by the payer’s bank
  • An optional deferred checking service, helping to avoid delays at branch counters
  • No requirements for state-funded schools signatories to provide identification.

Deposit accounts

We can help you make the most of your funds by setting up deposits to suit your cashflow. We offer interest-bearing fixed rate deposit accounts from overnight up to three years. But do remember you won’t be able to make withdrawals during the term of a fixed rate deposit.

How to apply

We’ve taken the difficult decision to temporarily stop accepting new business account applications to ensure colleagues can continue to provide vital support to existing customers at this unprecedented time. This also applies to any applications that have already started.

This is undoubtedly going to cause a level of inconvenience, but please be reassured that we’ll either contact you to continue your application, or reinstate the ability to accept new account applications at the earliest opportunity. Thank you for your understanding at this time. 

Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Telephone: 020 7626 1500

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.

1 Free day-to-day business banking applies to state-funded schools only. It is dependent on your school maintaining its full banking with Lloyds Bank, otherwise standard charges apply.
Free day-to-day business banking includes electronic payments, cheques, cash, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits. Free electronic payments include Direct Debits, Standing Orders, Debit Card transactions, Lloyds Banking Group/Other Bank ATM Withdrawals and Internet Banking/Phonebank Debits/Credit inc. Bulk Payments.