NEED TO KNOW
Your account is up and running
Here are some of the key
features of your new account.
If you have any questions,
just call us. Our UK based
customer service advisers
can help with day-to-day tasks.
And when you’re ready, a
Business Management Team
is on hand to help move your
Who can I contact when my business 1
needs extra help?
I need to get the most out of my 2
How can my account support me as 9
my business grows?
We need some help with our account 13
Help when you need it 16
Who can I contact when my
business needs extra help?
Speak to us for help
Your Business Management
Team is here to help.
When you need answers, fast
Opportunities arise and you need decisions to
be made quickly. Our Business Management
Team understand this and they’ll respond as
soon as they can.
Available as and when you need us
Your business may need to save money or
require an overdraft or loan, you can speak
directly to your Business Management Team
over the phone to discuss the options.
Any property given as security, which may include your home, may be repossessed
if you do not keep up repayments on your mortgage or other debts secured on it.
All lending is subject to a satisfactory credit assessment and we will need your permission to
carry out a credit check on you and your business. You should not apply for an amount that you
cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.
I need to get the most out
of my business account
Flexible and convenient banking
Your payments going in
All cheques go through a simple system called
the clearing cycle as shown on the next page.
Within two business days you’ll earn interest,
after four business days your money will be
available and after six business days the funds
from a returned cheque will not be debited.
For more details, call us on 0845 072 5555,
visit your local branch or call your Business
Our business day lasts from 9am to 5pm,
Monday to Friday, excluding Bank Holidays.
Cheques or cash paid in after 5pm (sometimes
after 3.30pm) might not be processed until the
next working day.
Getting the most out of your
We can help your business take payment
by credit or debit card in person, online and
when the cardholder is not present.
Ask about Cardnet ® , Lloyds Banking Group’s
card payment acceptance service with these
• Merchant services to suit the way you
trade: face to face, remotely or online
• Wide range of card machines to
• Flexibility as your business grows
• Comprehensive online reporting
• Experienced, UK based support.
For more details call our dedicated team
on 0800 0568 669 from 9am to 5pm,
Monday to Friday.
Cardnet ® is a registered trademark of Lloyds Bank plc.
The funds from a
will not be debited*
payment goes in
Your money will
Your money will
* Unless you are a knowing party to fraud
If you need to make up to 25 payments in
one batch, we can arrange this.
Your payments going out
When we make a payment on your behalf,
we’ll act on your instruction when received on
a business day and before our payment cut-off
time which is detailed in our Business Banking
Payment Transactions brochure.
Our bulk payments service is a simple,
convenient and secure way to make regular
payments such as paying staff, expenses and
supplier payments. It’s ideal for businesses that
make up to 25 payments in one batch and can
be done online.
Standing orders are for paying out the same
amount on a regular basis, such as rent or
wages, and are cheaper and more efficient
than paying by cheque. UK Sterling Direct
Debits 1 are a cheaper, more efficient way
of making regular payments and many
companies offer discounts for paying this
way. You can cancel most Direct Debits and
standing orders immediately online, up to
the end of the business day and before your
next payment date.
Recurring transactions* are regular payments
and also known as continuous payments. They
are set up directly with the retailer and made
with your Business Debit, Credit or Charge
Card to pay for expected outgoings such as
magazine subscriptions but are not protected
by the UK Sterling Direct Debit guarantee
scheme † . To cancel a recurring transaction
it’s best to let the person you’re paying know
and give them enough notice to be able to
cancel payments or to arrange an alternative
payment method. You can also let us know
and we will advise them that you don’t want
to make any further payments.
Faster Payments is a payment service
which lets you make and receive Sterling
payments within the UK in a matter of hours,
and often minutes. Payments made through
Telephone Banking and any Internet Banking
payments which are over the limit for sameday,
will be processed overnight and will reach
the recipient’s bank the business day after the
payment instruction was received by us.
Details of same-day payment limits within
Internet Banking will be available to you at
the time you make the transaction.
You can go online to check that the sort code
you are sending a payment to can receive
Faster Payments, Bacs Credits and CHAPs
Payments. To find out more or to check a sort
code go to the payments transaction section of
our website at lloydsbank.com/businessbanking
CHAPS is an electronic, bank-to-bank payment
system that guarantees same business day
payment of cleared funds in the UK.
SEPA Direct Debits cannot be managed using Online for Business.
You will need to contact your creditor directly to inform them that you
wish to cancel or transfer your SEPA Direct Debit mandate.
* Recurring transactions are not covered by the UK Sterling Direct
SEPA Direct Debits cannot be cancelled or transferred for you, you will
need to advise your Creditor that you wish to cancel the mandate or
transfer your SEPA Direct Debit to your new account.
We know a lot about doing business in
Britain and overseas. We can help with paying
and receiving foreign currency through our
International Moneymover Services. Use
our specialist trade services to reduce risk
when you’re dealing with businesses you’ve
never met. And when it comes to fluctuations
in foreign currency look at our forward
exchange contracts to fix the rate for a
date or period that suits you.
Changes in the exchange rate may increase the Sterling equivalent of
your debt. All enquiries for foreign currency accounts will be referred to
a specialist manager who will provide more information about charges
for these services upon request.
Stopping a cheque
If you ever need to stop payment on a cheque,
call us first on 0845 072 5555 and confirm
your request in writing. You’ll need to add
details of any replacement cheque you’ve
written. This must be done before the cheque
is presented for payment.
To stop a cheque, we need to know:
• The cheque number
• The amount
• The date it was issued
• Who it was made payable to.
To find out the cost of stopping a cheque,
please see the Business Banking ‘Your
account charges explained’ brochure in this
pack. Remember, stopping a cheque doesn’t
cancel your legal obligation to pay for goods
Business Charge Card payments are when
the total value of each month’s Business
Charge Card purchases is taken from
your current account by non-returnable
Direct Debit. To find out more see the UK
Sterling Direct Debits section on page
7 and your Business Charge Card terms
and conditions. Business Charge Cards
are issued subject to application to your
Business Management Team.
Payments out by cheque will usually clear
according to the process already shown, but
be aware that if another Lloyds Bank customer
pays in one of your cheques at our branch,
the money could leave your account on the
Returned cheques. If there’s not enough
money in your account to cover a cheque
you’ve written, it may be returned unpaid.
If this happens, we’ll notify you within two
business days and let you know how much
you’ll be charged.
Out of date cheques are usually only a
concern if the cheque is of a very high value.
So if you have one that’s more than six months
old, it’s worth asking the person who wrote
it to issue a new one and destroy or return
Cards make it easy
Debit, charge and credit cards are less bulky
and more convenient than cash and cheques.
Your Business Management Team can help
you apply for any of these cards. Business
Credit and Charge Cards carry an annual
fee of £32.
You can withdraw up to £700
per day from our cash machines
Interest free credit on all
Set your own limits
Business Debit Card
Offers easy payment tracking
and can save money on cash
withdrawals and the cost
of writing cheques. You can
withdraw up to £700 per day
from our cash machines.
Business Charge Card
A cost effective way of
paying for everyday business
expenses and helps cash flow
by providing up to 36 days’
interest free credit on Sterling
purchases. You can decide
how many cards to issue and
what limits to set 1 .
Business Credit Card
You can set monthly spending
limits from £500 for each
cardholder in your business
and apply for an overall
Business limit up to £10,000.
The availability of these cards and limits are subject to status.
SEPA Direct Debits cannot be used to settle your balance on your Business Charge Card.
SEPA Direct Debits cannot be cancelled or transferred for you. You will need to advise your Creditor that you wish to cancel the
mandate or transfer your SEPA Direct Debit to your new account.
We deal with any financial
If you get into difficulty
We want your business to be successful.
However, there may be times throughout
your economic cycle when you need extra
support. Our approach is to work with
you and your circumstances and take the
longer term view.
Let us know as soon as possible if there’s
a problem and we’ll deal with any financial
difficulty sympathetically and positively.
We follow the Lending Code which details
how we can best work together to deal with
problems of financial difficulty. ‘A Guide to
the Lending Code’ is available – please ask
your Business Management Team for a copy.
The Lending Code can be downloaded
from the Lending Standards Board at
or our website
How can my account support
me as my business grows?
Additional services for running your business
There are many ways to bank with us and we’re
never far from where you do business.
Internet banking gives you
24/7 control for quick and
secure financial transactions
all year round.
Make deposits quickly in
branch with depositpoint TM
or use deferred checking
to make over the counter
deposits even faster.
If you prefer, telephone
banking is a flexible service
for most day-to-day needs –
speak to an adviser based
in the UK or use the
Pay in money outside of
banking hours at a time that
is convenient to you – your
account will be credited the
next working day.
You can now access your
business accounts on
the move with our new,
secure Business Mobile
Banking app*. You can also
register for our free Text
alerts service to receive
daily or weekly updates on
your account balance and
*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 5.0 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.
Savings and investments
If you have a cash surplus, put it to the best
use possible. Choose an account that suits
your needs – whether you’re making shortterm
savings, such as saving for the next VAT
payment, or building long-term reserves.
• Instant access accounts give you the
flexibility you need for managing cashflow
and help you make the most of your
day‐to‐day surplus funds.
• Fixed term deposits guarantee a fixed
interest return on amounts over £10,000 and
are available typically overnight to one year.
• 30 Days notice – you can have instant access
to your money when 30 days notice is given.
• 32 Day Base Linked Notice Account – earn a
higher rate of interest when you don’t make
a withdrawal, with an interest rate that
tracks the Bank of England base rate.
• Clients’ accounts are suitable for any
professional practice or other business
that holds money for its clients.
To discuss which is the right one for
your business contact your Business
This allows you to make payments into your
account quickly. It’s available in most branches
and is an envelope drop service that is
designed to take a small amount of cash
and/or cheques (no receipt is issued).
As long as the envelope is posted prior to the
displayed closure time for the facility, your credit
will be in your account by the end of the day.
Immediate deposit machine
In a hurry? Then use our immediate deposit
machines to make fast cash and cheque
deposits. They’re available in most branches,
and you can pay in up to five cheques or
50 notes per transaction quickly and efficiently
using your business debit or Cashpoint ® card.
You’ll be issued with a receipt that gives a
breakdown of your transaction and shows a
copy of any cheques deposited. Cash is added
to your account straight away and funds
from cheques will be made available after a
minimum of four working days and will earn
interest after two working days.
Avoid having to wait while we check your overthe-counter
deposits. To use this service place
your credit, cash and/or cheques in a sealed
plastic bag and hand it in at any branch. We’ll
then issue you with a receipt confirming you
have made the deposit. Your account will be
credited by the end of the day.
A secure, efficient and cost effective way
to pay-in or withdraw large amounts of cash.
This service is provided in conjunction with
a bank authorised security carrier. For more
information, please speak to your Business
We need some help
with our account
Business Management Team
Can’t access your Internet
Internet Banking is a great tool but if you
can’t access your account, go to the Internet
Banking log on screen and click on the ‘Having
problems logging on?’ button. Complete the
online form, click ‘Continue’, then follow the
on screen instructions to get back online –
please make a note of any reference number
we give you. You may be required to complete
a form and return it to us. We will confirm your
identity prior to your internet account being
When you need to amend your business details
(change of address, change in business type,
change of name, etc.) call 0845 072 5555 and
we’ll arrange for you to speak to your Business
It needs to be protected but it’s easily
forgotten too. Don’t worry if you have, just
call us on 0845 072 5555 or go in to your local
branch and we’ll issue you with a new one. If
you’ve lost a card, call customer card services
immediately on 0800 096 9779 or if you’re
calling from abroad, call +44 1702 278270.
And when you do get your PIN, remember
not to write it down for security reasons.
Also, we will never send you an email asking
you to reveal it.
View some, or all, of the online accounts you
hold with several different banking or finance
providers. We don’t offer this service ourselves
so please be aware that if you do use an external
account aggregation service, you may be liable
for any fraud or mistakes that occur as a result.
*Occasionally we may need to carry out essential maintenance to
Online for Business, resulting in some interruption to the service.
Your personal and business information
This information (including your name and
address) is kept private and confidential, even
if you’re no longer a customer. It isn’t disclosed
to anyone outside Lloyds Banking Group*
except in the following cases:
• If we’re legally obliged to provide information.
• If we have a public duty to reveal information.
• If it is needed by our agents and others
involved in running accounts and services
for you or your business.
• If we or others need to investigate or
• If our interests are threatened – where we
suspect fraud, for example. This will not be
used as an excuse for revealing information
about you or your accounts to anyone,
including other companies in our group for
• If you ask us to reveal the information,
or if we have your or the business
If we’re asked to answer a query about your
financial status, we’ll make sure we have your
permission before responding.
* The Lloyds Banking Group includes companies using brands
including Lloyds Bank, Halifax and Bank of Scotland and their
associated companies. More information on the Lloyds Banking
Group can be found at lloydsbankinggroup.com
There are a few other precautions you need
to take to protect your account.
• Regularly check your email inbox for
scams, never click on them and call us
if you are suspicious.
• Be aware of calls from fraudsters,
purporting to be from Lloyds Bank,
or other official institutions.
• Don’t tell anyone your account details
or your PIN.
• Always keep your cheque book and
Lost and stolen business cards and cheques
If your cheque book or any cards are stolen or
passwords and any other secure information
becomes known to others, please notify us
immediately or you may be liable to cover the
costs. In some circumstances you may not
have to pay anything, however, if you have
acted fraudulently or without all reasonable
care, you will be responsible to cover all the
losses in your account.
Don’t recognise a transaction on
Call our team of UK based customer service
advisers immediately with the transaction
details on 0845 072 5555 and we’ll look into the
item on your behalf. We may require you to sign
a declaration form disclaiming your knowledge
of the transaction(s) and we might block your
account number for security purposes in cases
where there is suspected unauthorised or
fraudulent use of your account.
Business account rates and charges
We have a variety of business account tariffs
and try to ensure our rates and charges
remain competitive. We do our best to
make the numbers easy to follow so you can
compare them and choose the one which
suits your business need. Speak with your
Business Management Team, or look on our
website for more information.
Important information about
We are covered by the Financial Services
Compensation Scheme (FSCS). The FSCS can
pay compensation to depositors if a bank is
unable to meet its financial obligations. Most
depositors – including most individuals and
small businesses – are covered by the scheme.
In respect of deposits, an eligible depositor
is entitled to claim up to £85,000. For joint
accounts each account holder is treated as
having a claim in respect of their share so, for
a joint account held by two eligible depositors,
the maximum amount that could be claimed
would be £85,000 each (making a total of
£170,000). The £85,000 limit relates to the
combined amount in all the eligible depositor’s
accounts with the bank, including their share
of any joint account, and not to
each separate account.
For further information about the
compensation provided by the FSCS (including
the amounts covered and eligibility to claim)
please ask at your local branch, refer to the
FSCS website www.fscs.org.uk or call the
FSCS on 020 7741 4100 or 0800 678 1100.
Please note only compensation-related queries
should be directed to the FSCS.
Accounts with Lloyds Bank plc include
accounts with the following: C & G Savings,
Lloyds Bank, Lloyds Bank Agriculture,
Lloyds Bank Private Banking and Worldwide
Service. An eligible depositor’s £85,000 limit
relates to the combined amount in all accounts
with Lloyds Bank plc.
This limit is applied to the total of any
deposits you have with the following:
C & G Savings, Lloyds Bank, Lloyds Bank
Agriculture, Lloyds Bank Private Banking and
Help when you need it
Mistakes can happen, and if they do we’ll
put them right as quickly as possible
If something goes wrong
Help us by having the following information
to hand when you call:
• all relevant bank details – account
number, sort code, card, policy or
• photocopies of any supporting paperwork,
keeping the originals for your own records.
How to make a complaint
If you are unhappy with something we’ve done
and would like to make a complaint:
• Make sure your usual contact at the bank
knows about your complaint and tell
them how you think it could be resolved.
We’ll respond to you, usually within five
• Or you can call our Business Telephone
Banking Centre on 0845 072 5555 from 7am
to 8pm Monday to Friday, or from 9am to
2pm on Saturdays. We’re closed on all UK
public holidays. To call us from outside the
UK call +44 1733 347 338. You can also call
us on Textphone 0845 601 6909.
• Alternatively, you can raise your complaint
with Customer Services. Write to The
Manager, Lloyds Bank, Customer Services,
Correspondence Centre BX1 1LT.
Taking your complaint further
Business customers that are micro-enterprises
with a group annual turnover or balance sheet
of up to £2 million (Sterling equivalent) and
who have fewer than 10 employees may be
eligible to take their complaint to the Financial
If you have a complaint and we haven’t issued
our response within eight weeks from the
date you first raised your complaint, or if
you’re dissatisfied with our response, you
can ask the Financial Ombudsman Service
for an independent review. The Financial
Ombudsman Service will only consider your
complaint once you’ve tried to resolve it with
us, so please take up your concerns with us
first and we’ll do all we can to help. Write to
Financial Ombudsman Service, South Quay
Plaza, 183 Marsh Wall, London E14 9SR.
Or you can call on:
• 0800 023 4567 calls to this number are
normally free for people ringing from a
‘fixed line’ phone – but charges may apply
if you call from a mobile phone.
• 0300 123 9123 calls to this number are
charged at the same rate as 01 or 02
numbers on mobile phone tariffs.
• These numbers may not be available from
outside the UK – so from abroad call on
+44 20 7964 0500.
For further information visit the Financial
Ombudsman Service website at
The Financial Services & Markets Act 2000
sets out timescales for dealing with such
complaints. To reduce inconvenience to
you, we aim to reduce those timescales
Changing your mind
When you open a new account we will
inform you of any right to cancel. If you
do want to cancel, please write to us at
1 City Road East, Manchester, M15 4PU within
14 days of receiving our letter and we will be
happy to cancel the account. Any requests for
payment we receive after you exercise your
right to cancel will be returned and products or
services which require this account to operate
will also be cancelled.
We will repay to you any credit balance in
your account together with any interest due
if credit interest is paid on your account.
You will be required to pay any charges for
day-to-day banking or other services that you
may incur before we receive your request to
cancel the account and we will deduct these
charges from the monies we return to you.
If your account is overdrawn you must repay
the outstanding balance together with any
interest and charges that you owe us within
30 days of exercising your right to cancel.
Where possible we will help you find an
account from our range which better suits
your needs. The right to cancel does not affect
your ongoing right to close the account as set
out in the 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
Your call may be monitored or recorded
in case we need to check we have carried
out your instructions correctly and to help
improve our quality of service.
Lloyds Bank plc. Registered Office:
25 Gresham Street, London EC2V 7HN.
Registered in England and Wales No. 2065.
Telephone: 020 7626 1500.
Authorised by the Prudential Regulation
Authority and regulated by the Financial
Conduct Authority and the Prudential
We subscribe to the Lending Code;
copies of the Code can be obtained from
Lloyds Bank plc is covered by the Financial
Services Compensation Scheme and the
Financial Ombudsman Service. (Please note
that due to the schemes’ eligibility criteria
not all Lloyds Bank business customers will
be covered by these schemes).
The Lloyds Banking Group includes
companies using brands including
Lloyds Bank, Halifax, and Bank of Scotland
and their associated companies. More
information on the Lloyds Banking Group
can be found at lloydsbankinggroup.com
Cardnet ® is a registered trademark of
Lloyds Bank plc.
depositpoint TM is a trademark of
Lloyds Bank plc.
Cashpoint ® is a registered trademark of
Lloyds Bank plc.
I’d like to talk about our business
Go to lloydsbank.com/businessbanking
Check eligibility, calculate payments, apply online
Call us on 0845 072 5555
Lines are open 7am–8pm Monday to Friday
and 9am–2pm Saturdays
Visit your local branch
Please contact us if you’d like this information
in an alternative format such as Braille,
large print or audio.
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 0845 601 6909
(lines open 7am–8pm Monday to Friday and 9am–2pm Saturdays).