There are already a number of challenges you’re likely to face if you’re an entrepreneur looking to get a business idea off the ground. But at Lloyds TSB, we believe our free business banking options could be just what you need to help make this process easier.
By making sure you have a reliable business bank account in place from the outset, you’ll have provided a financial backbone for your project – and in addition to the basic features you’ll need to keep track of all of your transactions, you might also discover our range carries a host of unexpected benefits.
One of the great things about setting up a small business account with Lloyds TSB is that we make it as easy as possible, while at the same time remembering every individual is different. It may be you want to get the account started from the comfort of your home or office PC. If this is the case, the application can be done online. If, on the other hand, you would like to benefit from having one of our expert members of staff to hand you can do so in one of our many nationwide branches. This means you get to ask questions at any point. Of course, should you prefer to combine convenience with peace of mind, the option to apply over the phone is also there.
Whichever you choose, in all cases you’ll need to have certain pieces of information to hand. Initially, you’ll need to be able to confirm that you’re over the age of 18 and that you are using the account for business purposes. This will also require that you can confirm you’re a sole trader, partner, or director of the company. Having available the personal contact details of all those who will require access to the account will also be necessary, which includes any associated partners or directors.
If you are already a Lloyds TSB customer and are looking at business accounts, you’ll find getting started is even easier – as we will have much of your information on record. However, if you aren’t already with us, some proof of identity and evidence of your current address will usually be enough to get things moving for you.
If you are successful in setting up the account, you’ll have an initial 18-months period where your day-to-day banking will not be charged. This means no fees for paying in or taking out cash, paying in or issuing cheques, paying standing orders and direct debits as long as the account is in credit. All we ask is that you operate your account within agreed limits, for example not going overdrawn without prior agreement. We also have a number of special offers from Sage, one of the UK’s leading suppliers of business management software.
Lloyds TSB Bank plc Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 020 7626 1500. Lloyds TSB Scotland plc Registered office: Henry Duncan House, 120 George Street, Edinburgh EH2 4LH. Registered in Scotland no. 95237. Telephone: 0131 225 4555. Authorised and regulated by the Financial Services Authority under numbers 119278 and 191240 respectively. . Licensed under the Consumer Credit Act 1974 under registration numbers 0004685 and 0198797 respectively. We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk.