ComparisonLast checked 8 November 2026

Countingup vs Lloyds

An app-based business account with bookkeeping, invoicing and tax tools built in, for UK sole traders and small limited companies, priced by how much you pay in each month. 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. We also show Incard, our pick for businesses whose main costs go on cards.

By the editorial team. How we make money.

Where Incard beats both

You spend thousands a month on cards, especially on advertising, software or travel
You want a £0 plan, which Countingup or Lloyds don't list
You want card cashback, which Countingup or Lloyds don't list
You want a US dollar account, which Countingup or Lloyds don't list
You're comfortable with safeguarding instead of FSCS cover

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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What a year of card spending earns you

Incard Free against Countingup's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£660 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Countingup's cheapest plan: no cashback, £60 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. Countingup's cheapest plan: Free for 3 months, then £5 a month while you pay in up to £750 a month.

Countingup suits you if

You're a sole trader or run a limited company with up to two directors
You want bookkeeping, invoices and tax estimates in the same app as your account
You pay in modest amounts each month, since the fee rises with monthly deposits
You don't need international transfers or cash deposits

Lloyds suits you if

Your turnover is £3 million or less and you want a high-street bank with FSCS cover
You pay in cash at Lloyds deposit machines or the Post Office
You need a euro account alongside your sterling account
You're a sole trader who wants Lloyds' free Making Tax Digital software

At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Countingup	Lloyds	Incard
Type and protection	Bank · FSCS cover	Bank · FSCS cover	E-money · safeguarded, no FSCS
Who can open one	UK sole traders and UK limited companies	UK sole traders and UK limited companies	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders
Cheapest plan	Free for 3 months, then £5 a month while you pay in up to £750 a month	Free for 12 months for businesses new to Lloyds, then £10 a month	Free: £0 a month
Plans (monthly)	£5, £12 or £20 a month depending on monthly deposits, after a 3-month free trial	One plan: £10 a month after 12 months free for new customers	Free £0, Grow £49, Plus from £199
Card cashback	Not listed	Not listed for the debit card	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped
Card payments in other currencies	3%	2.75% non-sterling transaction fee	1.8% on Free, 1.5% on Grow and Plus
Domestic transfers	3 free a month, then 27p	Included	100 included on Free, 250 on Grow, then £0.30 each
International transfers	Not available: no IBAN or SWIFT; referral to CurrencyFair	£15 in internet banking; SEPA £5	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)
ATM withdrawals	£1 per withdrawal; £500 a day	Free in the UK; abroad 2.75%, plus 1.5% (minimum £1.50) for non-euro cash	2% in the UK, 2.5% abroad
Cash deposits	Not yet on new accounts: Post Office deposits listed as coming soon	£0.85 per £100 at an Immediate Deposit Machine, £1.60 per £100 at the counter or Post Office	Not listed
Currencies you can hold	Not listed; the account has no IBAN	GBP; separate Euro Current Account and Foreign Currency Account	GBP, EUR and USD, with IBANs
Accepting card payments	Online card payments on invoices through Stripe; Stripe fees apply	Tap to Pay, card readers, terminals and online payments offered; pricing not on the account page	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Countingup lists invoicing.
Only Lloyds lists cash deposits.
Only Incard lists card cashback, a US dollar account, cards for your team, accounts for LLPs, accounts for Swiss GmbHs and AGs and accounts for Swiss sole traders.

What each one is, and who can open one

Countingup

Counting Ltd (company number 10729748) runs the Countingup app. New Countingup accounts (sort code 04-36-15) are provided by Griffin Bank Ltd (company number 10842931), authorised by the PRA and regulated by the FCA and PRA (FRN 970920). Cards are issued by Transact Payments Limited, regulated by the Gibraltar Financial Services Commission. Eligible deposits in Griffin-provided accounts are protected up to £120,000 per depositor by the FSCS. Older accounts with sort code 23-69-72 are e-money accounts with PrePay Technologies Ltd: safeguarded, not FSCS.

Who can open one: UK-resident sole traders and directors of limited companies aged 18 or over, with a smartphone and a UK mobile number. Companies must be active, limited by shares, have up to two directors, UK-resident PSCs and no corporate shareholders. Partnerships, charities, CICs, CIOs, trusts and companies limited by guarantee aren't accepted. Full Countingup profile.

Lloyds

Lloyds Bank plc, authorised by the PRA and regulated by the FCA and PRA (registration number 119278). 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.

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. Full Lloyds profile.

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries