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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 banking *
  • Support from our UK-based business management team
  • Access your account over the phone, in branch, or in the move with the Mobile Business Banking app
  • Online business guides through the Business Knowledge Box and current research on the Business Resource Centre

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:

*Free 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 UK Sterling Direct Debits, Standing Orders, Debit Card Transactions, Lloyds Bank/Other Bank ATM Withdrawals, Internet/Phonebank Debits/Credits, Faster Payment Debits/Credits, Internet Bulk Payments and Automated Credits.

We 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 7.0 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.

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

Quick Formations and Lloyds have entered into a referral arrangement whereby a fee will be paid by Lloyds to Quick Formations on the successful opening of a Lloyds Business Account.

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

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