Business Overdrafts
Be financially flexible with a business overdraft.
Business bank accounts
Launching a start-up or considering switching banks? Join the one million businesses that bank with us, today.
Open an account
Business Accounts equipped with all the essentials you need
Stay in control of your financesÂ
Our free accounting software connects straight to your Business Account, giving you visibility and control, so you'll always be on top of your finances.
- Simplify your expenses and automate business admin tasks
- Create and send professional looking invoices
- Digitally submit VAT to HMRC and be on top of your VAT position all year round.
Access the finance you need
You can apply for up to £5,000 as a start-up or up to £25,000 as a switcher across a Business Credit Card or Business Overdraft, meaning you could:
- Get the finance you need in a flexible way
- Help you grow or get your business off the ground
- Cover unexpected costs
Access to the tools you need to help your business grow
Manage your cash flow and expenses whilst earning rewards with our Credit and Charge cardsÂ
- Up to 56 days’ interest-free credit
- Travel insurance included
- Earn cash back on fuel, electric vehicle charging, as well as on other eligible purchases
Our payment solutions help take the hassle out of taking payments
- Take payments from anywhereÂ
- Enable customers to pay how they chooseÂ
- Get real-time sales dataÂ
Switch your business account
Switch to us with ease using the Current Account Switching Service. Once your account is opened, everything will be switched within 7 days. Â
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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.
Find out how we’ve helped businesses like yours succeed
Digital business banking helped Notpla grow their businessÂ
The fast-growth start-up used our Business Account to help accelerate their sustainable packaging mission.Â
Cavan Bakery are making business expansion their bread and butter
They’re making more artisan bread and cakes, more efficiently, thanks to new premises and equipment that we helped finance.
Not a business?
Check out our other accounts that could suit your organisation.
Frequently asked questions
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Find out more about our Business Account fees and charges.
Payment type
Payment type
Introductory offer
No monthly account fee for 12 months
Payment type
Monthly account fee
£8.50 after 12 months
Payment type
Electronic payments in1
Free
Payment type
Electronic payments out1
First 100 a month are free / £0.20 each after that
Payment type
Cash payments (in or out)
£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)
£0.85 at an Immediate Deposit Machine / £1 over the counter
Payment type
Credit paid in at branch or ATM
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Free
Payment type
BACS
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
£30
Payment type
Sending and receiving money abroad
Payment type
Balances below £0 (going overdrawn)
Payment type
Other account services
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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To open a business bank account with us you must:
- Be at least 18 years old
- Be a sole trader, partner or company director
- Be applying for your first business bank account with us
- Have an annual turnover of less than £25 million.
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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 for a small business or start-up account, 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.
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.
*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 August 2024
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
The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here