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Lloyds Bank: Business Banking reviews

Name: Business Banking
Rating: 2.56 (144 reviews)

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2.60

Based on 144 reviews, last reviewed 2nd Apr 2025

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

23%

11%

12%

47%

Latest highest rating:

5

Great experience It’s been a very great experience since I started banking with Lloyds Bank, I get my credit score updated every week for no cost and it’s been really ... Read more Reviewed on: 2nd April 2025

Latest lowest rating:

1

There business banking account is shocking compared... There business banking account is shocking compared to others and they charge £8.50 a month which is most than others , zero interest given , zero too... Read more Reviewed on: 27th October 2024

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About this product

Lloyds Bank business banking reviews at Smart Money People are helping other business people to fund out what being a business banking customer at Lloyds Bank is really like. With business banking and aspects such as access to finance being so important to many business owners, Smart Money People is becoming the UK's leading source of Lloyds Bank business banking reviews. Remember that you can write yours too, and join our mission to increase trust and transparency in financial services.

Lloyds Bank Business Banking reviews (144)

Review of the Lloyds Bank, Business Banking:

Business support going downhill

I have had a personal account with Lloyds for over 30 years and our business has banked with them for over 20 years. My rating and experience relates to the business account. Once we had a personal relationship manager who visited us yearly to discuss our account and support us. A few years ago the manager was moved to central London and couldn’t practically visit us but we could phone directly and email each other. Then a couple of years ago Lloyds reorganised its business support services I think twice. This did not matter until something out of the ordinary was required and then the weakness of the new system was exposed. My issue related to the removal of a charge over our business premises (we are selling, it needs to be removed for the sale). The charge is related to our large overdraft facility. We wished to retain a smaller facility of an unsecured amount for cash flow purposes. Simple you would have thought but no. The only means of communicating with our Business Management Team (who appear to be located in Edinburgh and Birmingham now) seems to be by phone and by that, I mean us phoning them and waiting up to 20 minutes to be answered. I never seem to speak to the same person twice and have never managed to speak to the team leader. Different advisors give conflicting information which is confusing Whatever you believe that you discussed and arranged during the lengthy and sometimes confusing phone calls, is never confirmed or backed up in writing. It is difficult to retain all information given and comments made during these lengthy (maybe 40-50 minute ) calls. Upshot for us? The charge is being removed, slowly and our entire overdraft facility has been removed without prior warning. Apparently you can’t ask them to reduce the amount. Instead you have to cancel the one and apply for another, which involves supplying the accounts (which they already have) and detailed personal financial information (which they already have) for all partners in the business before you can be considered. To late for us as we’re on the point of selling and so will put in personal funds to cover any cash flow issues. I have gone through their formal complaints procedure. It will be interesting to see if they get back to me in the five working days that they promise… Reviewed on: 30th November 2019

Great service

No problems very supportive would recommend Reviewed on: 5th April 2023

Good Service

Once you are through on the phone service is good and leave feeling sorted Reviewed on: 3rd April 2023

average bank

average bank, no nearby branch, restricted opening hours, closed weekends Reviewed on: 10th March 2023

Monthly fees are high but service is reasonable

I’m not ecstatic about Lloyds Business Banking and am unhappy by their overdraft fees and interest rates. I’ve been denied business loans and business credit cards despite a very good credit rating. I will probably switch to a different service soon. The app is good and easy to navigate. Reviewed on: 10th March 2023

Just go somewhere else

The worst small business banking experience. An absolute waste of time. Avoid Reviewed on: 23rd February 2023

Good

Very secure and serious! Easy to solve your problem Reviewed on: 9th February 2023

Set up is a nightmare

They give a timeframe of 6 weeks to set up your business account which is lengthy but I appreciate the volume they are dealing with. I have waited 6 weeks, submitting some additional info along the way when they've requested it. At this point it has been 6 weeks since submitting what I thought, and was told, was everything. They asked for a confirmation on an address on 25/01 and I got told to call back in 48hrs if I hadn't been told anything. 27/01 comes around and I call up for an update. I then get told it could take up to 6 weeks because I confirmed things they'd asked me to confirm. So technically, if they then ring me up and ask for anything else my processing time starts again for another 6 weeks - makes absolutely no logical sense. I could be writing another review in 12 months time still without an account... just insane. I've used them for personal banking for 15 years and they've been fine but wish I'd used someone else to set up my business bank account. Would not recommend to anyone if you want to get set up! Here's to sitting tight for another 6 weeks of processing. Reviewed on: 27th January 2023

Prehistoric

I have a business account with Lloyd's but will be moving it ASAP. It is so old fashioned. I recently got a new phone so couldn't log in to my banking app without going through the login process again. Its ridiculous how many hoops you have to jump through. Couldn't remember my password so them you have to mess about with a card reader machine. Its so cumbersome. I then wanted to change my address so I telephoned the bank, I can do this by writing a letter and going into a branch. I'm suprised they didn't request it be sent by carrier pigeon. I'll be closing my account when I go in to branch. I need a bank thats easy and doesn't require me to undergo 20,000 old fashioned security checks and really, writing a letter? Come on its laughable Reviewed on: 29th July 2022

bank mangers

To many bank manager changes . I have six business account with Lloyds, from property companies to Commerical trading business. Reviewed on: 18th July 2022

Dinosaurs in a modern age - extinct methods

Had a Lloyds business account for over 10 years and during this time the service has only got worse. sending new bank cards to old address even though we have updated the account with new address 3 times. cant do any changes on line, have to print a form send it off and never receive notification if any problems. Their communication is a joke, disjointed and incompetent. They haven't updated their system with our new address against each card holder - only some of them ?????. Reviewed on: 18th July 2022

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