Lloyds Banking Group

Lloyds Banking Group responded to a Request for Information from the Department for Education and provided the information on this page. Details may be subject to change.

The information provided is aimed at multi-academy trusts. Some local authority maintained schools may also benefit.

Lloyds Banking Group offers

• access to a layered deposit strategy which allows customers to split reserves across different account types, like instant access and fixed term deposits
• relationship managers with expertise in the education sector
• a range of education-focused services, like embedded payments, financial education and fraud prevention
• access to their Savings Strategy Tool which auto-optimises savings based on cash flow and automates balance sweeps, moving daily surpluses to instant access savings accounts
• cost-reducing features such as Commercial Cards, which offer interest-free credit and rebates
• account structuring solutions like credit balance aggregation, notional pooling and virtual account management, which help customers reduce bank account administration and increase interest on credit balances

Switching to Lloyds Banking Group

Lloyds Banking Group’s switching service helps schools

• redirect regular payments
• transfer direct debits, standing orders, payroll and other payments

The account transfer process typically takes 4 to 6 weeks from submitting the application to the account being set up.

Visit Lloyds Banking Group’s website