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Lloyds bank business current account

When you register your company with Mint Formations, you become eligible for a free business current account with Lloyds bank. After your company registration process is complete, we will make it easy for you to apply for a business current account with Lloyds.

A business bank account is essential in the UK for trading as a limited company, as it’s not recommended to conduct business transactions using a personal account.

Running your own business can be a challenge, but you can take your next steps with confidence knowing that your company and business bank account can be set up all without you lifting a finger or having to complete a mountain of complex paperwork.

Why choose a Lloyds business current account?

  • 18 months’ free day‐to‐day business banking
  • 9 out of 10 approval rate on loan and overdraft applications
  • A UK-based management team on hand to guide and support you
  • Voted Business Bank of the Year at the FDs' Excellence Awards for the past 14 years
  • Simple everyday banking with 24/7 access by phone‚ online or using the mobile app
  • Extensive online resources available, including business guides via its Business Knowledge Box and current research via the Business Resource Centre
  • This account is available for businesses with an annual turnover of up to £3 million.

By choosing to opt for a business bank account via Mint Formations, you not only save time and effort, but you can also be confident that the banking process will be completed quickly — perfect for if you want to start trading immediately.

Lloyds business account: how it works

Once your company is approved and incorporated with Companies House, our team will forward your details via a secure channel to Lloyds bank. Lloyds will then call you within two working days to set up a meeting with your dedicated business manager. During the call, they will brief you about the documents you need to bring to verify your identity. After the meeting, your Lloyds business account will be activated, normally within one to two days.

Whether you are starting out or setting up a new business, Lloyds’ business banking experts will offer professional guidance and advice to help you handle your online banking with ease.

In addition to Lloyds’ telephonic support, you will also benefit from a dedicated business banking manager on hand to answer questions at any time.

Important information

Cheques, cash, standing orders, direct debits, withdrawals and deposits are included in a Lloyds free business banking account. Your account should either be operated in credit or within the agreed limits of Lloyds bank.

The Lloyds free business banking account is currently available only for limited by shares and LLPs with UK residents as directors and shareholders. Overseas or nominee directors and shareholders are not eligible for the Lloyds free business banking offer. Companies limited by guarantee cannot apply for this offer.

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

2. 9 out of 10 approval rate is based on formal credit applications and is an average across the period from January 2017 ‐ December 2017.

3. FDs' Excellence Awards 2005‐2017 supported by Real Business. For more information, visit lloydsbank.com/bankoftheyear

4. Lloyds doesn'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. You will need a smartphone running iOS or Android. The app is not compatible with some older versions of the operating systems — check the Apple App Store or Google Play for more details. Business Internet Banking registration required. Services may be affected by phone signal and functionality. Use of Mobile Banking is subject to Lloyds Business Internet Banking Terms and Conditions.

Occasionally, Lloyds may need to carry out essential maintenance, resulting in some interruption to service.

Lloyds adheres to The Standards of Lending Practice, which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk

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 Lloyds are protected by the Financial Services Compensation Scheme (FSCS). They 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.

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