Provider profileLast checked 8 November 2026
Lloyds Bank Business Current Account
A high-street business account for UK businesses with turnover up to £3 million, including sole traders and limited companies, with electronic payments included and a monthly fee after the first year.
- Cheapest plan
- Free for 12 months for businesses new to Lloyds, then £10 a month
- Available in
- UK
- Your money
- Bank · FSCS cover
What it is
Lloyds Bank plc, authorised by the PRA and regulated by the FCA and PRA (registration number 119278).
How your money is protected
Lloyds says the FSCS protects up to £120,000 of the eligible money you hold with it. Not every business customer meets the FSCS eligibility criteria.
Our e-money vs bank account guide explains what this means if a provider fails.
Who can open one
Owners or directors aged 18 or over who are UK resident with a UK mobile number, applying for a UK business with a UK trading address and annual turnover of £3 million or less. Limited companies must be registered in the UK, active, on the Companies House register for at least 4 days and unchanged there in the past 4 days.
Headline fees
| Fee | Detail |
|---|---|
| Monthly fee | Free for 12 months on a first Lloyds business account, then £10 |
| Electronic payments in and out | Included (Direct Debits, standing orders, Faster Payments, internet bulk payments) |
| Cash in or out | £0.85 per £100 at an Immediate Deposit Machine; £1.60 per £100 at the counter or Post Office |
| Cheques in or out | £0.85 at an Immediate Deposit Machine or in the app; £1.20 otherwise |
| CHAPS | £30 |
| International payment in internet banking | £15; SEPA £5; £12 or £20 correspondent fee if you pay all charges |
| Receiving money from abroad | £2 up to £100, £7 over £100; free for euro payments from the EEA or UK |
| Debit card payments in a foreign currency | 2.75% |
| Euro Current Account / Foreign Currency Account | £24 / £60 a year |
Limits worth knowing
- No credit interest is paid on the account.
- Businesses with turnover over £3 million are pointed to a different account.
- BACS costs £5.50 per file plus £0.15 per item, and a set-up fee may apply.
How it compares
- Incard vs LloydsFees, cashback, foreign currency, protection and eligibility side by side.
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See all the accounts we've researched.
Our pick for card spendIncard: 1% cashback on ads, software and travel, on a £0 plan
Our pick for UK and Swiss businesses whose main costs go on cards, as long as you don't need bank deposit protection.
Read Incard vs Lloyds BusinessWork out your cashbackCheck eligibility
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- a month on the Free plan, with team cards
- £0
- cashback on ads, software and travel; 0.5% on other eligible spend
- 1%
- IBANs in three currencies
- GBP, EUR, USD
Check Lloyds Bank Business Current Account's current terms
Fees and eligibility can change. Confirm them on the provider's own site before you apply.
Sources
All checked on 8 November 2026. Where a provider's help centre or legal terms differ from its marketing pages, we follow the help centre and terms.