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“Lloyds Business Banking”

written by tsp2011 on 18/03/2013

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 already extremely clunky - To perform almost any action excluding an internal transfer you need to use a card reader - a huge waste of time. As well as this, The Lloyds card reader keeps giving wrong codes resulting in me being locked out every two weeks or so - a problem they refuse to acknowlege (at first I assumed used error but testing has confirmed it's not!) The card reader also only allows 2 PIN trys before locking the card - the card reader prompts for a third attempt but this always fails locking the card regardless of the correct PIN being entered.

Our relationship manager is never available and have never been able to arrange a personal meeting with him. He is always curt and dimissive on the phone. We recently tried to open an overdraft for a short term cash flow issue and, after an impersonal discussion were refused on a technicality. He has zero understanding of my business and frankly is not interested.

Would not recommend Lloyds Business Banking to anyone - when I finally have a quiet period I will be making the switch to Barclays, RBS or HSBC.