Lloyds Corporate Card Review for UK Business in 2025

Lloyds, one of the UK’s leading high‑street corporate banking providers, presents a broad suite of corporate and business card solutions. These are designed to simplify expense management for companies of all sizes.

Established in 1997, Lloyds Bank Cardnet is a joint venture between Lloyds Bank and First Point Data¹. It was built to support UK businesses of all sizes with reliable merchant services. Tasks like in-store POS systems, online checkouts, and virtual terminals for phone orders are covered under its umbrella. The goal is to help businesses accept payments easily across all channels.

In this review, we’ll break down the key features, pricing, and the process to get Lloyds corporate credit card in 2025.

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An Overview of Lloyds Corporate Cards

As discussed above, Lloyds Bank brings a spectrum of corporate card solutions for UK businesses. As part of the wider Lloyds Banking Group, these cards are backed by one of the most trusted banking institutions in the UK, with integrated tools to streamline day-to-day business operations.

Given that we’re dissecting the corporate cards here, know that there are two types of these:

• Lloyds Corporate Credit Card
• Lloyds Corporate Charge Card

These cards are designed for large businesses with an annual turnover of over £25 million². They are tailored to support complex expense structures, large teams, and the need for centralised financial control.

Keep scrolling to learn how the cards operate and their striking features that can ease your financial management.

How Does Lloyds Corporate Card Work?

Lloyds Corporate Cards give businesses a smarter way to manage company spending across teams, without losing control. Each physical or virtual card connects to a central account, so every transaction rolls up into one streamlined view.

As employees make purchases, finance teams can track activity in real time through Lloyds’ Commercial Card Servicing platform. Everything from spend approvals to transaction reports is handled digitally. It cuts down on admin and gives you total visibility.

Your business can align repayments with its cash flow strategy by choosing between a charge or credit setup. Eventually, this can simplify expense management at scale.

Lloyds Corporate Cards: Safety Evaluation

Intelligent fraud monitoring systems safeguard each transaction made with a Lloyds Corporate Card. These systems can instantly detect and flag any suspicious activity.

Cardholders enjoy enhanced security through encrypted online payments, EMV chip protection, and the option to enable two-factor authentication. For added control, businesses can use the Commercial Card Servicing platform to track expenses in real time. They can instantly freeze or cancel cards and set precise spending rules.

If a card is lost or stolen, it can be swiftly deactivated, with limited liability provided the incident is reported quickly. Built-in alerts and advanced security controls make Lloyds Corporate Cards a reliable and secure way to manage company spending across teams. The in-built protocols ensure accountability at every step.

Features of Lloyds Corporate Cards

Lloyds corporate cards can be issued as physical or virtual cards, giving your business flexibility regarding how and where employees make purchases. Cards can be distributed across departments and tailored to suit different spending roles (travel, procurement, or day-to-day operations).

Besides this, some more features of these cards are listed below:

• Cards are issued on the Visa network, accepted globally for in-person and online transactions
• Virtual cards can be created for remote or one-off use cases
• Real-time tracking allows finance teams to view spending as it happens and manage multiple cardholders efficiently
• Custom spend controls let you set limits, merchant category restrictions, and approval policies on a per-card basis
• Cards can be quickly frozen or cancelled via the online platform if lost or compromised
• The system supports centralised or individual billing, depending on your accounting setup
• Card activity can be integrated with your ERP or accounting software for seamless reporting and reconciliation
• Lloyds’ built-in fraud detection tools and alerts help protect against unauthorised use
• Cashback of up to 1% on fuel and EV charging, and 0.5% on other eligible spend, is available on selected card types³

Lloyds corporate cards strike the right balance between control and flexibility. They bring secure solutions to the table. Each feature empowers businesses to manage spending efficiently without disrupting day-to-day operations.

Lloyds Corporate Card Fee Structure

Lloyds corporate card pricing is tailored to each business size, structure, and usage needs. Instead of offering a flat-rate package, it works directly with corporate clients to build a fee structure that reflects their requirements.

Fees may vary depending on whether you choose a corporate credit card (with a revolving balance) or a corporate charge card (requiring full repayment each month). You can also select the number of cards issued, billing preferences, and any added services or integrations.

However, some standard fees to keep in mind include:

• Foreign transaction fee: Typically around 2.95% of the transaction amount when spending in a non-GBP currency⁴
• Late payment fees or interest charges: Apply if repayments are not made according to the agreed terms (more relevant for credit card users)
• Card replacement or administration fees: May be charged in some cases, depending on service terms
• Annual fees: May apply based on the volume of cardholders or level of service chosen (discussed during onboarding)

These foreign transaction fees can add up if your business frequently operates in multiple currencies. A good strategy here might be to pair with a multi-currency solution like Wise Business to minimise conversion costs for international spending.

Also, keep in mind that, as with any credit facility, interest and penalties may apply if your organization fails to meet repayment terms. Lloyds will provide full details on interest rates, repayment conditions, and penalties during the application and approval process.

Application Process for Lloyds Corporate Cards

Below, we’ve rounded up all the details about eligibility requirements and the application process involved for issuing Lloyds corporate cards.

Eligibility Requirements

• Your business must hold a current Lloyds business account. This is a prerequisite.
• You must be a sole trader, business partner, or director authorized to borrow on behalf of the company.
• Minimum age of the authorized applicant: 18+.
• Minimum annual spend requirement: Typically, at least £25,001 to justify the facility.

Application Channels

• Online application via Lloyds’ Online for Business portals (Business Credit Card or Corporate Card sections) is only accessible to existing business banking customers.
• Through your Relationship Manager (RM) or commercial banking team, particularly for larger corporate card programmes.

Required Documentation & Assessment

Expect to provide:

• Evidence of your business turnover, credit history, and ability to support the requested limit
• Information on existing credit facilities or lending arrangements
• Details of any security or guarantees being offered
• You may be required to sign a personal guarantee for higher limits, extending liability beyond the card usage.

Approval & Onboarding

• Applications undergo a complete credit assessment based on the information you provide and are then compared against Lloyds’ commercial credit criteria.
• If approved, your business can issue physical or virtual cards to team members. You’ll also gain access to the Commercial Card Internet Servicing (CCIS) or Commercial Cards Data Management (CCDM) portal to configure spend rules, onboarding flows, and reporting.

Managing Your Card Programme

• Use CCIS to add or remove cardholders, set authorization limits, freeze or cancel cards, and manage merchant category controls.
• Access real-time statements, spend reports, and programme administration tools via Lloyds’ digital platforms.

Suppose you’re part of a larger enterprise or operate in multiple currencies. In that case, Lloyds’ commercial team may guide you through more advanced card templates, such as their ePay, eOptimise, or Straight Through Processing (STP) virtual card platforms.

Wise Business debit card, an alternative to Lloyds

If you need a better option to spend abroad, Wise Business debit card is the way to go. With Wise Business card you can spend in 150+ countries with the mid-market exchange rate and small, transparent fees.

You can pay in 40+ currencies with your Wise Business card even if you don't have a balance for the currency on your multi-currency account. Wise's smart technology will convert your spending automatically to GBP. What is even better? You earn 0.5% cashback on your purchases.

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FAQs – Lloyds Corporate Card

Is a corporate credit card suitable for businesses?

Using a corporate credit card makes handling business expenses easier and gives you a clear picture of where your money’s going. When you’ve got solid policies in place and use the card smartly, it can really help you stay on top of your finances and keep things running smoothly.

What is the difference between a corporate and a business card?

Business cards are great for small to mid-sized businesses and usually rely on the owner's credit. Corporate cards are built for larger companies. They come with more controls and detailed reporting and are issued to multiple employees under one account.

Basically, business cards keep things simple; corporate cards handle bigger, more complex spending.

Can I set individual spending limits for each employee card?

Yes, you can. Lloyds lets you set individual spending limits for each employee card through its Commercial Card Servicing platform. You can control how much each person can spend, set monthly caps, and even block certain purchases.

Sources used in this article:

1. Lloyds Cardnet Payments Reviews: UK Fees & Pricing
2. Lloyds Corporate Cards
3. Business Credit and Charge Cards
4. Using a credit card abroad

Sources last checked 29/07/2025