Apply now for a Business Account

Digital banking with no account fee for 12 months

Bank online, with our mobile app, in branch or over the phone.

  • After 12 months, there’s a monthly fee of £8.50. Some fees and transaction charges will apply as soon as the account is open.
  • This offer only applies to the business’s first current account.

Is this account right for you?

You must:

  • Be at least 18 years old
  • Be a sole trader, partner or company director
  • Be applying for your first bank account with us
  • Have an annual turnover of less than £25m.

Business bank accounts you can trust

We’ve been by the side of British businesses for over 250 years.  Today, we help more than a million1 people take care of their business finances. So when you open an account with us, you know you’re in safe hands.

Why open a business bank account with us?

Flexible ways to bank

Flexible ways to bank

Bank in whatever way suits your business - online, in the app, over the phone or in branch.

Borrow up to £5,000

Borrow up to £5,000

Small businesses could apply for up to £5,000 across a Business Overdraft or Business Credit Card**.

Expert support

Expert support

Access our Relationship Team for business help and support.

Our business banking app

Log in at a time that suits you using your secure login details. For extra security, use fingerprint and Face ID on compatible devices.

  • Make payments of up to £250,000 per day
  • Pay in cheques up to a daily limit of £10,000
  • Check balances and transaction details

More about the app

Apply for a business account in minutes

Download the app to apply if:

  • You are over 18
  • Your business turnover is under £3m a year
  • You are a sole trader or the only director of a limited company
  • Only one person needs to access the account
  • You are a UK resident
  • Your business is based in the UK

Simple ongoing fees and transaction 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 in2


Payment type

Electronic payments out2

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


Payment type

Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app 


Payment type


File submission: £5.50

BACS Item: £0.15 (a set up fee may apply)

Payment type



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, 1.1MB) and product terms and conditions.

Estimate with our calculator how much your business account could cost per month after the first year.

UK Finance business account opening guide

Borrow up to £5,000 for your new business**

You could apply for up to £5,000 across a Business Overdraft or Business Credit Card, giving you financial flexibility when you need it. This could help you get your business off the ground, build your credit rating and cover any unexpected costs.

**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.

Finding the right account for your business

We’ve been helping Scottish businesses since we were founded over 250 years ago. Today, we combine leading technology with reliable and flexible banking for businesses of all types.

Whatever your ambitions, we’re here to help you thrive.

Bank accounts for other types of businesses

If you don’t meet the criteria for a business account, a different business account may be better suited.

School Bank Account

School Bank Account

Our School Bank Account has been specifically designed for state-funded schools and academies based on the things that we know are important to you.

View School Bank Account

Credit Union Account

Credit Union Account

For those providing a springboard for people to move into mainstream banking we have a package of banking services specifically for community credit unions. 

View Credit Union Account

Treasurer's Account

Treasurer's Account

If you run a non-profit organisation with a turnover of up to £50k, then let us take the hassle out of your banking so that you can spend your time on what matters most. 

View Treasurer's Account

Frequently asked questions

  • To set up 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 3 days from the date of Companies House registration before applying online or over the phone.
  • 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 in button on your welcome email. 

  • Using a business bank account to run your small business rather than your personal account can help you:

    • Control business incomings and outgoings, including card payments.
    • Organise finances for tax returns.
    • Build a stronger business credit history.

    With a Bank of Scotland business account, you can also access our other services to help manage your cashflow and grow your business.

  • If you’re self-employed as a sole trader in the UK, you’ll typically pay tax through a self-assessment. As your tax payment comes from your business earnings, having a business account can help keep your personal and business finances separate. A small business account can also help you decide what you want to pay yourself from your business turnover.

  • While it’s not a legal requirement to have public liability insurance for a small business in the UK, accidents can happen, and public liability is useful for when those moments occur. Though it’s not mandated in the UK, some associations and local authorities may ask for proof of public liability insurance before you can register with them. We offer a range of business insurances, including public liability insurance, which you can get a quote for today.

  • Yes, if you are a sole trader running your own business and self-employed. You are not legally required to have a business account, however managing  all your business transactions in one place can make running your business easier.

Further resources 


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 FSCS

Online skills training

Take part in our free lessons and workshops to help your business thrive in a digital world.

View online skills resources

Free Accounting Software

Business Finance Assistant is free for Bank of Scotland business account holders

Connect Business Finance Assistant to your business accounts to predict cash flow, submit digital VAT returns and much more.

Business Finance Assistance

Taking card payments

From card readers to online payments

We can help you accept card payments online, over the phone or face to face, no matter the size of your business. 

Lloyds Bank Cardnet

1Lloyds Banking Group PLC – 2022 Annual Report

2Electronic payments include:

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

**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. 

Independent service quality survey results

Business current accounts


Published February 2024

As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 15 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).


Business current accounts Overall service quality survey results. Ranking 1st place monzo 84%, 2nd place Starling Bank 83%, equal 3rd place Tide 74%, equal 3rd place Handelsbanken 74%, 5th place Metro Bank 65%, 9th place Bank of Scotland 54%

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.

Making sure you get a fair deal

We want you to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender, and you, the borrower.