Lloyds Bank have issued the following updates on their business banking portal:

Opening a Start-up Business Current Account – Important Information

Please note, new customers cannot open a Business Current Account to access the Bounce Back Loan Scheme. To access the Bounce Back Loan Scheme, you must have had an account with us before 2 March 2020.

If you manage your business through a Personal Current Account opened before 2 March and want to apply for a Bounce Back Loan do not apply via this page. You will need to open a Business Current Account or a Loan Servicing Account.

Switching business accounts

We’ve taken the difficult decision to temporarily stop accepting business account applications from customers looking to switch their banking to us.

This is undoubtedly going to cause a level of inconvenience, but please be reassured that we’ll reinstate the ability to accept new account applications for switching at the earliest opportunity. Thank you for your understanding at this time.

Practitioners will need to take this into account if clients bank with Lloyds or want to switch to Lloyds.

Source: New feed