Lloyds Bank raises monthly fee to £10, adding £18 a year for business accounts

Lloyds Bank increases business account maintenance fee from £8.50 to £10 per month, costing an extra £18 annually. Cheque and cash withdrawal fees also rise, while electronic payment fees are scrapped.

Brit Brief 30/06/2026 09:51

Lloyds Bank raises monthly fee to £10, adding £18 a year for business accounts — Lloyds Bank raises monthly fee to £10, adding £18 a year

Lloyds Bank has confirmed an increase in its monthly fees for some customers, adding £18 a year to the cost of keeping accounts open. The general account maintenance fee for business account customers rises from £8.50 to £10 per month, effective immediately. In addition, cheque processing fees increase by 20% from £1.00 to £1.20 per transaction, and cash withdrawal fees at cash machines, post offices, and Lloyds branches rise from £1.50 to £1.60 per £100 withdrawn.

Fee changes in detail

While many charges are increasing, Lloyds is eliminating electronic payment fees, meaning direct debits and standing orders will no longer incur a 20p charge after the first 100 free monthly transactions. However, fees for paying in cash or cheques via immediate deposit machines remain unchanged at 85p per £100. Customers can calculate their specific cost changes using Lloyds' online charges calculator at lloydsbank.com/bcacalculator.

Bank's rationale

A Lloyds Bank spokesperson said: “Businesses want clear, straightforward banking that works for them, and we’re making changes to give customers more predictable costs that are easy to understand. Over one million businesses trust us with their finances and by simplifying everyday banking charges, we’re helping businesses better anticipate their costs and manage their finances with confidence.”