Lloyds TSB Business Bank Account Reviews

★☆☆☆☆
1.1 / 5
7% of users recommend this
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Lloyds TSB Business Bank Account

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★☆☆☆☆

“Avoid”

Written on: 24/07/2013

Thinking it should be easier and quicker to open up a business bank account with Lloyds as I already have a personal account with them, I was completely wrong. Not only did I have to go through all the ID checks but I had to call numerous times to remind them to post me my information pack and internet banking details. Horrible branch manager in Palmer's Green and not at all helpful. The so called "Relationship Manager" doesn't even exist, I keep getting through to call centre staff and long… Read Full Review

Valueseeker's Comment

Written on: 26/07/2013

Completely agree. I thought the same, that it would be easier take out a business loan with them for a new business as I already have a business account there. I was told I ticked all the boxes but it needed approval from another team. They had a full breakdown of all the cost and comprehensive business plan. After chasing for 2 weeks - each time having to go through laborious chain of people and security to speak to a business manager in Scotland (I'm in Essex!) and waiting to be called back which invariable did not happen. I was asked permission to do a credit check and then asked again all the details pertinent to the loan that were clearly stated in the business plan. I asked how long it would take for a formal approval and I was told 5-15 working days the same as two weeks earlier when I had first put in my business loan application!! Time was imperative which was made clear to Lloyds from the start as I needed to complete the purchase before the end of August. So yesterday after more numerous calls from my end and no replies I am told Lloyds don't loan on goodwill!!!! I have always made clear the goodwill sum from the begining and my portion of the purchase prices covers the goodwill. They have wasted my time, had a damaging credit check carried out on me and may well loose the business now. NEVER DEAL WITH THIS BANK

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Mrsned's Comment

Written on: 26/07/2013

similar experience here when we wanted to add a second signing account to our existing solvent, business account, long standing and in good order. Branch said could not process it, it had to be authorised by a Relationship Manager who could only be reached by phone. After several abortive phone calls, eventually told they could not be contacted as they "were busy" and would call back. Never did and doubt they actually exist. Suspect Lloyds actively discouraging new accounts or expansion of existing ones. AVOID.

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★☆☆☆☆

“Unnessassary advice and a complete rip off”

Written on: 26/06/2013

I was advised to set up a business account during a review of my regular account. I said ok. I wasn't told that I would be charged £5.00 per month for having the account. I started using the account. I am a freelance commercial artist, working predominantly online, doing artwork for small companies. I am not earning much, though I have now become full time. I tried to transfer money from my business account to my current account (both Lloyds) online, but was told I would need to go into a bank… Read Full Review

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★☆☆☆☆

“The worst”

Written on: 05/04/2013 by m14833 (1 review written)

I bought an existing small retail business. I opened a business account with lloyds as one of the branches is close. I have had the account for 4 weeks and the business now for 3 weeks. I have applied for internet banking, I had to request the form twice. I have applied for a cash card. So far I have received nothing. I can pay money in and I am forced to write cheques to the wholesalers. I have no other way to access the money, keep track of transactions or even find out what the balance is on… Read Full Review

Chloedog1's Response to m14833's Review

Written on: 09/05/2013

Sounds the same as my experience. Opened an account with Lloyds in December 2012 for a new business start up for which I was using £8k of my own money. Took 5 weeks to get the online banking sorted. They would not supply a debit card or cash card until I had been trading for 8 weeks and saw money flowing in and out of the account . They refused to consider any sort of loan. However, I don't think this is Lloyds alone, from what I hear all the high street banks treat new business's the same.
I guess once they see that the account is working well, I will be offered anything I want...When I don't need it!!!

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Johnpro's Response to m14833's Review

Written on: 18/12/2013

I have had the very same experience. They are totally indifferent and incompetent.

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Darrengh20's Response to m14833's Review

Written on: 16/05/2013

same problem taken me 2 months and still not got all the bits, think they are the worst bank. 20 days for internet banking makes running a business hard, its so pain ful

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★☆☆☆☆

“No continuity Terrible”

Written on: 25/03/2013 by chris.cdm (1 review written)

I have held business account with lloyds since 1994 all good until they done away with the one to one business manager Below letter sent I have been a Lloyds business and personal customer since 1994 and have always been happy with the service you have provided so much so that I have encouraged my friends and family to bank with Lloyds In the past there has been one person who new me and my business which has been perfect until now Unfortunately now things are very different I am left… Read Full Review

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★☆☆☆☆

“ABSOLUTELY HORRIBLE”

Written on: 18/03/2013 by egginess (1 review written)

How can you operate your business without a bank account? I have been trying to open a bank account for 3 months now, each time they require an additional signature, an additional form, or something additional. Eventually, I received my business account details, BUT I have absolutely no way of accessing the account!! No bank card, no online banking, NOTHING. When I requested for a debit card, they require 4 months of activity...HOW AM I SUPPOSED TO PUT ANY ACTIVITY IN THERE WITHOUT BEING ABLE… Read Full Review

Shawnb's Response to egginess's Review

Written on: 24/03/2013

I had a same experience with Lloyds ,Barclays set up my account in one week .

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Regnbm's Response to egginess's Review

Written on: 30/03/2013

Having the same problem. Now haven't been paid by business employer due to slowness of TSB, failure for them passing correct information, no cash card, no debit card, can't access account by internet access without completing another form and again no guarantee that they will allow this.
No wonder banks are struggling if everything is made so difficult, in today's teconology you would expect the basics to be simple.

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★☆☆☆☆

“Lloyds Business Banking”

Written on: 18/03/2013 by tsp2011 (1 review written)

For the sake of exposition, my company turns over in the region of £1m per year, has a perfect history and a strong cash reserve, and has been operating for 18 months. LLoyds online banking has recently reduced a wait for "security purposes" between setting up a recipient and making a payment. This appears to be complete nonsense though - I have recently tested the system by sending money to an account with the wrong recipient name and the transaction succeeded. The online banking was… Read Full Review

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★☆☆☆☆

“Gone from Great to Abyssmal”

Written on: 19/02/2013

Cannot get any consistancy of relationship with this bank, they now hinder my business. Call centre banking at its worst… Read Full Review

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★☆☆☆☆

“Worst bank ever i had”

Written on: 14/02/2013 by Yoges (1 review written)

No Business manager, You cant close the account by any branch you have to write the closure letter You cant Update you business detail if you want make any changes Because of useless managers Not friendly or helpful staffs Went branch ST4 let them know i have to update my business details they the staff told me they will going call me with in week But no answer Again i went to same branch and they gave telephone number (0845) to call Rang the number and got promised on of the business… Read Full Review

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★☆☆☆☆

“Incompetent relationship managers”

Written on: 07/02/2013 by smithian (1 review written)

I fully agree with all previous posts PLEASE DO NOT OPEN A BUSINESS ACCOUNT WITH LLOYDS. No concept of customer service, incompetent relationship managers, etc etc etc. I'm changing banks ASAP, several people have recommended HSBC and from my dealing so far they wipe the floor with Lloyds. Unfortunately I must give them at least one star to be able to post otherwise I would not… Read Full Review

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★☆☆☆☆

“I am putting a complaint to the FSA and the european court”

Written on: 19/11/2012 by LLOYDSworstbankever (2 reviews written)

This is the complaint I sent to the FSA I am following the advice of the Consumer Credit Counseling Service (CCCS) by writing you this claim on LLOYDS TSB. This could be the story on how to use the law against its spirit. In 2001 I arrived in UK to study. I opened an account with Lloyds TSB. I stayed in UK two years and then used my account another two years until I finished my studies. I never cancelled the account and left a bit of cash on it. I still used the credit card and always paid… Read Full Review

Experience2013's Response to LLOYDSworstbankever's Review

Written on: 31/01/2013

I confirm bad experience with this bank.
The bank has our money for 2 months and denied us access.
We now have in writing requested the closure of the business accounts - let's see if it works now.

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★★☆☆☆

“not quite as bad as other reviews but not great.”

Written on: 19/11/2012 by katiekatjas (11 reviews written)

I opened a basic business account with lloyds about 9 months ago. I've had no support what so ever from the bank. Its very slow with card transactions and takes days to come off your balance. Not great for business because obviously you need to make purchases to remain in business. I sell online so have materials, packaging and postage to pay for. There was a problem with my card not being accepted for online payments for an entire day which put me out of business for that day. To be fair… Read Full Review

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★☆☆☆☆

“LLOYDS TSB - DONT EVER TAKE OUT A BUSINESS ACCOUNT 2012”

Written on: 19/11/2012

Lloyds TSB have undergone a review and if you take out a Business Account you will find it moved to Colmore Row in Birmingham. Customers who used to be able to have a relationship with their local branch can forget it now that accounts have moved to this Call Centre. Their Staff are rude, arrogant and thoughtless when it comes to maintaining good Customer Relations. Even simple tasks they make a meal out of them and it takes twice as long to get any scense out of them. They are ruthless when… Read Full Review

Loubarden's Comment

Written on: 20/12/2012

Totally agree - they still advertise on their web site that they have customer relationship managers when they clearly don't. I was asked to send in a copy of my last audited accounts by post because they can't accept emails this I did over 3 weeks ago and heard nothing back. I phoned them today and they apologised that noone had got back to us but said the accounts sent to them were not audited accounts and I needed to send audited accounts but hey this time they can accept emails cause I can send emails to the manager but not the telephone answerers so it would appear. I phoned my accountant and asked him why our accounts were not audited accounts to which he responded small businesses don't tend to have audited accounts because it costs a lot of money, businesses with a turnover of £5 million start auditing accounts. Nice to know that people working in the financial services industry LLOYDS TSB clearly haven't got a clue what they are talking about - time to change banks I think !!!

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Richardfreedomcall's Comment

Written on: 28/01/2013

Actually I think your review is rather kind to them! I have banked with this shower for getting on for 10 years now and since the call centre took over "account relationship management" I have received around 6 letters informing me of a new "Customer Relationship Manager", none of whom has ever spoken to me. I get letters saying they have tried to call me without success but there are no messages or missed calls so obviously they are lying.
They are rude, they are arrogant, they are unhelpful, they tell lies, they are generally not helpful and if I were Lloyds I'd just close the call centre down and leave the customer with no one to contact; at least that way the customer would get better service!

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★☆☆☆☆

“Terrible bank”

Written on: 15/11/2012

Their business banking is terrible, no dedicate business service in branches… Read Full Review

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★☆☆☆☆

“PERSONAL GUARANTEE WITHOUT CONSULTING GUARANTOR”

Written on: 29/10/2012

Lloyds TSB Commercial Finance made arrangements to obtain my signature on a personal guarantee for a loan without making ANY contact with me or carry out credit checks by making all the arrangements through a third party. This is completely opposite to what their sales team tell you if you call them and what is posted on their website. I have officially made a complaint to them direct, but all I have had back are letters stating that they obtained the guarantee through their normal business… Read Full Review

Samcan's Comment

Written on: 16/01/2013

I have a Same issue with them , Business Relation ship Manager come to my home took all the signature, with out making me read any documents, just told me where to sign, i done it on the trust because i am with them last 15 years, just recently find out they took the signature from me on the personal Guranty on the limited company business loan. don't know what to do. any suggestion on this matter

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Mrangry321's Comment

Written on: 16/01/2013

Hiya, sorry to hear of your situation. I have been fitting my case on my own for 2 years and have got nowhere, the over riding fact is that the banks seem to be able to do what they want without redress.
I have written many letters to Lloyds to complain about how my signature was obtained, even my local MP wrote to them via the CEO of Lloyds, all this ended with them saying they did nothing wrong!
I contacted the media i.e radio 4 finance programs and Rip Off Britain (who on Monday night aired a program of unfair banks) I suggest you try the same thing, I am about to send letters to all the MP's in Parliament connected to finance and banking to try and get someone to challenge Lloyds on how they go about their financing business, I would suggest you do that as well, the more complaints they receive the better the possibility of someone being able to get banks/Lloyds to face up to their underhand way of doing business.
Best of luck

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★☆☆☆☆

“Disgraceful customer service from LloydsTSB Commercial...”

Written on: 11/10/2012 by weekender001 (1 review written)

I asked LloydsTSB Commercial Bank to do something very simple for me that has now escalated into a 8 month battle to try and remove me accounts from their clutches. The original issue was related to their repeated failure to send internet banking credentials to Amsterdam from the UK. The reason was that they consistently mixed up business and correspondence addresses. They also seemed to forget my written instructions to change the latter. The result is that I never received my internet… Read Full Review

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★☆☆☆☆

“Have you forgotten it's MY money!”

Written on: 02/10/2012

PLEASE DO NOT BANK WITH LLOYDS TSB! I recently started a limited company and made the awful decision of banking with Lloyds TSB! I banked with them previously when self employed in 2004 and they were great. Something has gone drastically wrong since then. I explained that internet banking was vital to me because of my line of business and signed and sent all the required forms. The account was opened in early June and I finally got my login info through towards the end of August! Both in branch… Read Full Review

Weekender001's Comment

Written on: 11/10/2012

It's proving IMPOSSIBLE to close my account with them from abroad, they are awful!

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Matjac's Comment

Written on: 12/01/2013

I totally agree. I am making my priority this week to close my Business AC with Lloyds, following the end of a string of rude, bullying tactical language with (name removed) at the Birmingham call centre. He clearly has no life skills or professionalism. If I spoke to my customers in the way he spoke to me it would be curtains. They have no idea how small businesses run and for all of the so called Relationship Managers I have spoken to, it is my opinion that they wouldn't know where to start! M J ( now moving my profitable 125k turnover small business elsewhere!)

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★☆☆☆☆

“Ignorant and bully”

Written on: 09/07/2012

They do not deserve even this one start. I had my business banking with Lloyds for almost two years as self employed and just recently needed to open a new account for my limited company. Based on my experience with the local LLoyds' branch, I had all trust put in their services. However, if you ever consider dealing with their business banking that ends with "555" telephone number, stop before you go there. Impossibly low quality services, bullying, incompetence and lack of ability to work… Read Full Review

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★☆☆☆☆

“Dumped by Lloyds TSB in the USA”

Written on: 29/06/2012 by robertstarling (1 review written)

Just went to publics to buy some food, my personel debit card declined even though plenty of dosh in the account, thought I would call them see what the problem was? What a mistake, first thing I heard was the standard we are very busy pre recorded message hold for ten minutes for what??? The brainless idiot in the call centre said she needed to ask some security questions, good I thought getting somewhere now, alas not to be didnt ask the standard questions password etc. I explained that a… Read Full Review

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★☆☆☆☆

“Won't allow me to have a debit card even after 1 year...”

Written on: 28/06/2012 by Shellinch (1 review written)

Completely rubbish bank. When I signed up I asked if they have a debut card system and they said yes so I signed up. Took 2 months to get all the paper work and then found out new customers are not allowed a debut card so how am I meant to pay for my products as I'm a boutique?! So requested a meeting with manager and couldn't get one and still after 1 year and using account regularly never going below £300 I'm still not allowed a debit card! Complete joke! And they don't provide Internet… Read Full Review

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★☆☆☆☆

“worse thank useless”

Written on: 30/05/2012 by loobydo (1 review written)

Do not bank with Lloyds TSB. I have been a customer for 10 years, business customer for 3. The 'service' I've received from them has been absolutely shocking in every aspect. Simple things like paying is U.S dollar cheques and making foreign payments are an absolute nightmare. Nobody knows what they are doing and the call centers are even worse. You don't have a dedicated business manager - it changes on a weekly basis. No one ever returns your calls, and you are constantly passed from… Read Full Review

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