Current Account for New Businesses
Simple banking, dedicated support.
- 12 months’ free day-to-day³ business banking¹
- Simple pricing with free electronic payments
- Business support available by phone, in branch or through online guides
We do everything we can to make your first months in business as easy as possible. You'll get access to a range of support, with help available by phone, in branch or online.
This account is available for businesses with an anticipated turnover of up to £3 million.
Please visit our terms and conditions section to view all charges, terms and conditions and associated information.
12 months’ free day-to-day³ business banking¹
When you’re starting your own business, every penny counts. In your first 12 months, you’ll get free banking that includes electronic payments, cheques, cash, deposits and withdrawals.
All we ask is that you operate your account within agreed limits, for example not going overdrawn without agreement.
When your free banking period ends, there’s a simple price plan with no charge for electronic payments, including withdrawing cash from a cash machine and paying by debit card.
Monthly account fee4
Electronic payments (in or out)5
Cash payments (in or out)6
The first £1500 per month.
£1 per £100
Cash payments (in or out)6
Anything over £1500 per month.
£0.90 per £100
Cheques (in or out) 7
4 A fixed fee for operating your account.
5 Includes online, automated and debit card payments.
6 Cash you pay into or withdraw from your account using our branch counter or deposit machine. We don’t charge for ATM withdrawals.
7 Any cheque payment in or out of your current account made via a branch counter, depositpoint™, Immediate Deposit Machine, or bulk or other cheque deposit service including cheque imaging via the Business Mobile Banking App.
8 Credit in is a fee charged when paying in a credit of cheques and/or cash at the branch counter, or through other cheque/cash deposit services. We do not charge a credit in fee when you deposit via an Immediate Deposit Machine, depositpoint™, Night Safe, Business Mobile Banking App cheque imaging or Post Office® counters.
Your account comes with some quick and convenient ways to manage your business finances:
- Internet Banking – gives you a secure way to access and manage your accounts 24 hours a day, including making payments and transfers
- Telephone Banking – lets you look after your day-to-day banking by speaking to one of our business management team or using our round the clock automated service.
- Mobile Banking and Text Alerts – register to keep track of your accounts while you’re on the move.
- In branch – our branch staff are always happy to help with your day-to-day banking.
You’ll have access to Business KnowledgeBox, our collection of online guides and reports on everything from financial planning and legal issues to understanding your customers. Written by industry experts, download instantly or receive them by email.
You can access Business Knowledgebox when you are logged in to Internet Banking using Google Chrome, Firefox, Internet Explorer 11 (minimum version), Microsoft Edge and Safari.
Watch our video to find out how Business KnowledgeBox could support your business.
Support to run and grow your business
We have some great product offers designed for new businesses:
- We offer all kinds of financial support, from business loans and hire purchase to overdrafts, invoice finance and charge cards. We approve 8 out of 10 lending applications**.
- If you are a Payment Service Provider, find out how you can qualify for Indirect Payment System Access.
- Business insurance – leading UK broker Arthur J Gallagher searches a wide range of insurers to find the right cover for the right price. Our customers can choose to benefit from a 2-year fixed premium with selected insurers.
- Cardnet® allows you to accept card payments in person, online or by phone. There is no joining fee, card terminals start at £15 per month and a 1.25% transaction charge (with a minimum £15 monthly charge).
Opening a business current account is an important step for any business. To help you prepare, the following guide brings you the essential details and documents you will need to open your account.
We’ve taken the difficult decision to temporarily stop accepting new business account applications to ensure colleagues can continue to provide vital support to existing customers at this unprecedented time. This also applies to any applications that have already started.
This is undoubtedly going to cause a level of inconvenience, but please be reassured that we’ll either contact you to continue your application, or reinstate the ability to accept new account applications at the earliest opportunity. Thank you for your understanding at this time.
1Applies to small businesses, including individuals setting up their first business bank account.
2 Twelve months’ free day-to-day business banking for customers when switching from a business account held elsewhere.
3 Free day-to-day business banking includes electronic payments, cheques, cash, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits. Free electronic payments include Direct Debits, Standing Orders, Debit Card Transactions, Bank of Scotland/Other Bank ATM Withdrawals, Internet/PhoneBank Debits/Credits, Faster Payment Debits/Credits, Internet Bulk Payments and Automated Credits.
**8 out of 10 relates to loans and overdrafts in the period November 2013 to November 2016.
Cardnet® is a registered trademark of Lloyds Bank plc.