Business Overdrafts
Be financially flexible with a business overdraft.
Business Accounts for start-ups and small businesses
Our accounts come with everything you need to help make managing your finances easy.
Open an accountEverything you need to get your business finances off to a great start
Whether you’re just starting your business, turning a side-hustle into your day job or you’re a freelancer or contractor, our Business Accounts come with the tools you need to make managing your business finances a breeze.
Stay in control of your finances with free accounting software
- 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.
Help your business grow with access to £5,000
Get an instant decision on up to £5,000 credit* as a start-up across a credit card or overdraft to help you manage your cash flow and get things off the ground.
A wealth of insights and guidance at your fingertips
Access the products and services you’ll need to help you along the way
Manage your cash flow and expenses whilst earning rewards
Manage your business expenses, free up cash flow and earn rewards with our Credit and Charge Cards. You’ll get up to 56 days’ interest free credit, travel insurance and you can earn cash back on eligible purchases.
Take payments the easy way
Our payment solutions can help you take the hassle out of taking payments, however your customers choose to pay.
Discounts on the things you need to get started
Get your business online
Get discounted Website Builder packages with GoDaddy.
Cybersecurity for your business
Get a 60-day free trial and discounts on Norton Small Business plans.
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
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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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Yes, you can open a business bank account online if your estimated turnover for the next 12 months is under £25 million.
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Having a dedicated business account has lots of benefits. Limited companies are legally required to have one and although freelancers and sole traders aren’t, running your business through a business account can help make things easier.
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Yes, if you are a sole trader running your own small business or self-employed. While you’re not legally required to have a business account, keeping all your business transactions in one place can make managing your finances easier.
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.
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
*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.