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Business Accounts equipped with all the essentials you need
Frequently asked questions
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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 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
The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here