Switch your business bank account

Switch your business bank account

Switching your account to us means you’ll get access to all the tools you need to make managing your business easier and to help your business grow.

Switch to a Business Account that works as hard as you do

First account with us? No account fee for a year then £8.50 a month

 

Keep control of your finances with free accounting software

 

Instant decision on up to £25,000 credit* to help your business grow

Switching made simple

It’s simple to switch with the Current Account Switch Service (CASS). We’ll open your account and then move everything within seven days including your balance and payments. Your old bank will take care of closing your old account.

What you'll need to apply

  • We’ll ask some questions about you, your address history and tax status.
  • We’ll ask what your business does, with who and where.
  • We may ask you to provide your ID e.g. UK driving licence or passport, a photo of your face, your signature and possibly some other documents.
 

Switch using the Current Account Switch Service

To move accounts, first apply online for a Business Account. Once your account is open, you can switch using the Current Account Switch Service. To apply, you must:

  • be at least 18 years old
  • live in the UK and have a UK mobile phone number
  • have a business with a turnover of £3 million or less
  • trade from a UK address.

Apply now

If your business has an annual turnover between £3 million and £25 million, find out how to apply. The Current Account Switch Service is not available for accounts for community organisations.

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What to expect

We’ll guide you through it.

How switching works

  1. Give us the details of the account you want to switch.
  2. Choose the date you want the switch to happen.
  3. Leave the rest to us.

And get ready to join the 1 million businesses who already bank with us.

Fees and transaction charges

 

Open a Business Account without switching

Apply today for a Business Account or Community Account. If you qualify for the Current Account Switch Service, you can use this to switch later. 

Check eligibility and apply

Get more than just a Business Account

There’s so much more to our bank account than just digital banking. As well as no account fee for 12 months, you’ll also be able to: 
 

Enjoy access to £25,000 to grow your business

Manage your cash flow and help your business grow. Borrow up to £25,000 across a Business Credit Card or Business Overdraft. Once we’ve set up your Business Account, you can apply online. You’ll get an instant decision whether you’re successful or not.*

 

Apply via the app once your account is set-up

Get free accounting software to manage your finances

  • Connect all your business accounts to see everything in one place.
  • Digitally submit VAT to HMRC and stay on top of your VAT position year-round. 
  • Automate tasks like expense tracking and cash flow forecasting.
     

More on our accounting software

Tools and support at your fingertips to help your business grow

Protect your business

Don’t get caught out by the unexpected such as expensive liability claims and property damage. Our leading panel of insurers can get you quality cover at a price you can afford. 

Business Insurance

Make your money work harder

Don’t leave it under the mattress. Invest it in our range of savings accounts. Choose the one that’s right for you based on how much you have to save and how soon you’ll need the cash. 

Business savings accounts

Manage your cash flow and expenses whilst earning rewards

Free up cash flow and earn rewards with our Credit and Charge Cards. Get cashback on applicable purchases and we’ll even throw in travel insurance.

Credit and Charge Cards

Flexible borrowing with a Business Overdraft

Whether you need help getting your business off the ground, managing your cash flow or to cover unexpected costs, our Business Overdraft can give you the flexible financial support your business needs.

Business Overdraft

Do business globally 

Make and receive payments from your customers and suppliers in over 130 currencies, making it easier to do business internationally.

International payments

Take payments wherever you are

Wherever you are and however your customers choose to pay, take payments with ease using our payment solutions.

 

 

 

Payment solutions

We’re here for the long haul

As your business grows, your finance needs will change and evolve too. Wherever you decide to take your business next, we can help with a wide range of finance solutions to suit your needs.

 

Business loans 

Offer a flexible way to invest in new equipment and expand your business.

Explore business loans

International trade

We have a range of products and tools to support you in trading internationally. 

Trade internationally

Sustainability

Wherever you are in your journey to Net Zero, we can help you grow sustainably.

Sustainable business

Turnover of £3 million to £25 million? Let’s help you switch.

Turnover of £3 million to £25 million? Let’s help you switch.

Apply for a Business Account by answering some questions online. You can use the Current Account Switch Service when we open your new Business Account.

Apply now

Frequently asked questions

 

Financial Services Compensation Scheme

Eligible deposits with Lloyds Bank plc are protected up to a total of £85,000. Due to eligibility criteria, not all business customers will be covered.

More about the FSCS

*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.

1Electronic payments include:

  • Direct Debits
  • Standing Orders
  • Faster Payments Debits
  • Internet/Phonebank Debits
  • Internet Bulk Payments.

Independent service quality survey results

Business current accounts

Published February 2025

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 16 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 85%, 2nd Starling Bank 82%, 3rd place Handelsbanken 77%, 4rd place Tide 75%, 5th place Zempler Bank 69%, 7th Lloyds Bank 61%

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