Cannot find anyone in Lloyd's to open 2nd account

littlerock

OH is self employed and has been for last 15 ,years. No debt, accounts always filed on time. Banks with Lloyd's where has personal and small business accounts never in red.Wants to follow up new line of work in related area and wants to set up second business account to do this. No loans or overdraft required just another small business account. Enquired at branch and told they can only open accounts for new customers and so will have to apply on line. Did not know how he should do this suggested phone customer services ,(there is no manager at his branch).

Phoned Lloyd's Customer Services to find out about where to apply online. Noone knew as they only deal with new customers. Passed him around several different phone extensions then said would phone back. Noone ever did this has now happened three times.Then wrote and someone called a Relationship Manager phoned him and said they would get back to him. Never did.

He would prefer to stay with Lloyd's for convenience. He deals a lot in cash and has to go to bank regularly to pay it in and Lloyd's bank is near and still has cashiers ( tho probably not for long...) which local Barclays and Nat West do not. Would also prefer to keep all accounts in one branch.

Anyone here works/used to work for a high street bank and able to comment why setting up second business account is so difficult?

grumbler

Lloyds, Lloyds' not Lloyd's

Is it really worth paying an extra monthly fee and, possibly, extra 0.2% for cash deposits?
Can it not be just a new account without an overdraft?

Don't know about business banking, but for personal customers there is option to apply for another current account in online banking.

xylophone

https://www.lloydsbank.com/business/retail-business/current-accounts.asp

Can you apply online for an account for your new venture?

Give it its own name and open a new account?

KJSmith

If he has setup a new limited company then the link that xylophone provided above is fine.

However, if he's a sole trader or the new line of work is going to continue under his existing limited company he should call the 0345 072 5555 number from the following page https://www.lloydsbank.com/business/contact-us.asp

TheShape

grumbler wrote: »

Lloyds, Lloyds' not Lloyd's

http://www.bbc.co.uk/news/uk-39459831

Flobberchops

Lloyd's is the correct spelling, as the apostrophe is a contraction; as in, "Lloyd is bank". Bank here being used in its archaic form as an adjective.

Another little known fact is that in Spain, Lloyds trades under the name Llollds so as to conform to local conventions of pronunciation.

*Disclaimer: facts may be made up

littlerock

He has called the bank on 0345 072 5555 more than once - he is a sole trader and wants a second sole trader account. The "advisors" he speaks to (I think it is three times now) all promise to phone back/send paperwork. Nothing happens. Lloyds appear to have no mechanism for allowing him to open a second sole trader account for his business in a related area, as he wants to keep the accounts separate.

Dobbibill

Apply online on their website

https://secure.form.lloydsbank.com/business/bca_start.asp?WT.ac=RBB_Accounts_PStartup_Apply

or over the phone on this number off their website

Apply by phone

0800 022 4389

Managing the account online can be done, once applied for, using tabbed browsing on his existing log in details.