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Bank Accounts

O nce you've registered your company, you'll want to start trading, but you can't do this without having a business bank account. It is a legal requirement.

Businesses pay for their business bank accounts. Unlike your standard current account, it requires a cost. That's why we offer a bank that gives you free banking in your early days.

To get your company up and running as quickly as possible, we offer a free Lloyds Business Bank Account with a £50 reward with every company registered with us. Here are the perks:

  • 18 months free day-to-day business banking1
  • After free banking, simple pricing with free electronic payments, including debit card transactions and cash point withdrawals2
  • Manage your account at any time via our helpful, secure mobile app or internet banking3
  • Register for free text alerts
  • Dedicated support from our UK-based business management team
  • Access to tools and insight, using Business ToolBox and Business KnowledgeBox

You must be a UK resident and forming a company limited by shares (LTD) or a limited liability partnership (LLP) to take this bank account.

Lloyds Business Bank accounts are subject to normal bank credit and money laundering checks.

Is your business eligible?

To apply for a business account for start-ups, you should:

How it works

You can select an Lloyds Business Bank Account in the order process at the 'banking' stage. What happens after that is simple. These are the steps required once you've chosen your new Lloyds Business Bank Account:

  • Your company and contact details will be sent via a secure link to Lloyds as soon as your company has been registered
  • You'll receive a call from Lloyds within 48 hours to open your account. The majority of the time you will not have to visit a branch
  • If you do have to visit a branch, you may be asked to bring certain documents (e.g. a Share Certificate – this is emailed to you after your registration is complete).
  • Claim your £50 reward once your account is opened

How to claim your reward

Once your Lloyds Business Bank Account has been set up, you can claim your £50 reward by following these steps:

  • Log into your Company Manager account by hitting the Sign In button
  • Select My Account in the menu and hit Claim Cashback
  • Click the Request button

Terms & Conditions

For full details of your terms and conditions please view documents below:

1Free business banking includes cheques, standing orders, cash, UK Sterling Debits, deposits and withdrawals. All we ask is that you operate your account in credit or within agreed limits.

2† Free electronic payments include UK Sterling Direct Debits, Standing Orders, Debit Card transactions, Lloyds Banking Group/Other Bank ATM Withdrawals, Internet/Phonebank Debits/Credits, Faster Payment Debit/Credit, Internet Bulk Payments, Automated transactions between your Lloyds Bank Accounts.

3We don't charge you for Mobile Banking but your mobile operator may charge you for certain services such as downloading or using the app, so please check with them. Our new app requires iOS 6.0 or above, or Android 4.1 or above. Internet Banking registration required. Services may be affected by phone signal and functionality. Use of Mobile Banking is subject to our Business Internet Banking Terms and Conditions.

Our service promise – If you experience a problem, we will always try to resolve it as quickly as possible. Please bring it to the attention of any member of staff. Our complaints procedures are published at www.lloydsbank.com/business/contact-us.asp.

If you have a hearing or speech impairment you can use Text Relay (previously Typetalk) or if you would prefer to use a Textphone, please feel free to call us on 0345 601 6909 (lines open 7am – 8pm, Monday – Friday and 9am – 2pm Saturday).

Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 0207 626 1500. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278. Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all Business customers will be covered.

Want to register your company now and get a £50 reward? Start here.

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