Lloyds Business Bank Account

abas_2

I have a small business that I run from home. I have had a business account with Lloyds for about 20 years. During a 12 month period the number of credit transactions does not exceed 20. I have about 4 direct debit payments per month. I am never in overdraft.
Lloyds are now charging £5 per month for the privilege of having my account.
I have asked M&S if they can switch the account but because it is a business account they will not do it.
Does anyone know if any bank will operate the 'switch' system with a small business account.
Cheers. Allan

eskbanker

There is a switching service for business accounts as well as personal ones, but I'd assume it'll only allow a switch from one business account to another, not a switch to a personal one (or do M&S offer business accounts?). See https://www.simplerworld.co.uk/Pages/Business-Banking-Account-Switching.aspx for further details....

jonesMUFCforever

Do you pay tax?
Bank charges are a legitimate business expense and can be set off to reduce your profits and ultimately tax.