These Terms and Conditions explain how this offer works, including who can take part, and what you need to do to receive the payment.

In these terms and conditions “we”, “us” or “our” means Lloyds Bank plc.

 

1. About this offer

This offer is available to new business customers who apply online for a Business Account between 1 June and 30 June 2026, subject to the eligibility requirements below.

This offer is also available to customers who switch an existing current account held with another bank to us, using the Current Account Switching Service (CASS), once their new account with us is open.

The Business Account, and any transactions made on the account, will be subject to the terms and conditions for the account. Fees and charges may apply.

 

2. Who can take part

You can take part, if both of the following apply:

  • You submit an online application for a new Business Account with us between 1 June 2026 and 30 June 2026. Saved or incomplete applications won’t be eligible.
  • You do not already hold a Business Account with us or Bank of Scotland plc. 

 

3. What you need to do to receive the £200

You’ll qualify for the £200 payment if, by 30 September 2026, we have opened your Business Account and:

  • You spend at least £100 using your Visa debit card on eligible purchases.
  • You set up two direct debits from your new account.

Make sure there’s enough money in your account, or that you have an authorised overdraft in place (if available on your account) before you spend on your debit card or your direct debits are taken. If you don’t, your account may go into an unauthorised overdraft, and you may be charged fees and interest as set out in your account terms and conditions.

 

Eligible debit card spending

Debit card spending means purchases of goods or services using your Visa debit card.

Excluded transactions

The following do not count towards the £100 spend requirement:

  • Cash withdrawals
  • Bank transfers made with or without your debit card
  • Debt repayments
  • Direct debits and standing orders
  • Transactions classified as gambling
  • Financial services transactions (money transmission orders, purchases of foreign currency or travellers’ cheques and purchases of financial services such as insurance or investments.)
  • Cryptocurrency transactions
  • Refunds and chargebacks
  • Bank charges, fees, interest, and any other non-purchase transactions
  • Fraudulent transactions

Direct Debits

Direct debits must be set up with the organisations you’re paying. 

If you’re switching to us using the Current Account Switch Service (CASS), any active direct debits moved to your new account as part of the switch will count towards the requirement to set up two direct debits from your account.

 

4. What do we mean by ‘opening your Account’?

Your Business Account is opened on the date we send you your sort code and account number.  This will be after you applied online. 

 

5. When we'll pay you

If you meet the eligibility requirements above, we’ll pay £200 into your new Business Account by the end of October 2026.  We’ll email you before we make the payment to let you know when to expect it.

Your Business Account must be open and able to receive payments at the time we try to make the payment.

We can’t pay the £200 into any other account or by cash or cheque.

The £200 payment is made gross, and you’re responsible for paying any tax due on the payment you receive. 

We won’t contact you if your Business Account doesn’t meet the offer requirements.

 

6. Other important information

  • Only one £200 payment is available per customer. If you open more than one account with us, including accounts with Lloyds Bank or Bank of Scotland, we’ll only check the first account you open to see if it meets the offer requirements.
  • Only Business Accounts are eligible for this offer. Charity and Community Accounts, and accounts that can’t be opened online (such as School Accounts), are not eligible for the incentive.
  • Existing customers already holding a Business Account are not eligible for this offer.
  • This offer isn’t transferable, and we may change, pause or withdraw it at any time. If you’ve already opened your Business Account when we make a change, or pause or withdraw the offer, it won’t affect you, as long as you meet the offer requirements.
  • We won’t cover any fees or interest you incur if your account goes into an unauthorised overdraft as a result of making payments using your Visa debit card or direct debits.
  • The £200 payment cannot be exchanged for any other benefits. 
  • Our decision on eligibility and payment is final.