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Lloyds Bank Cardnet

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Tuesday, June 5th, 2018
Best Payment Providers

A Good Fit For:

What We Like

Lloyds Bank Cardnet doesn’t use independent sales agents and resellers, and, therefore, there are no complaints of hidden terms and fees.

What We Didn't Like

Lloyds Bank Cardnet offers better rates for those with existing bank business accounts. Those that don’t get charged a high joining fee. Also, merchants are charged an early termination fee of up to £200 if they cancel before the first six months of the agreement.

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Founded in 1997 by Antonio Horta-Osorio, Lloyds Bank Cardnet is the merchant services department of the largest retail bank in the UK, Lloyds Bank. All departments are part of Lloyds Banking Group. Based in Basildon, it provides payment solutions and merchant accounts to businesses in the UK. It offers card machines and other tools and support merchant need to accept payment face-to-face, online, or phone payments. Its merchant account includes PCI DSS security, currency conversion, and support for most major credit and debit cards. Lloyds Bank Cardnet online payment gateway has secure hosted checkout, developer API, and full integration into almost all online shopping carts. Since it functions as the acquiring bank, this cuts out the need to source a payment gateway through another service. Additionally, its online payment gateways include fraud prevention, PCI DSS security, and online reporting. Its online reporting is unique in that you can view chargebacks from 15 months ago and all customer transactions, including those dating back to 13 months ago. With this tool, you also can flag questionable transactions, schedule automatic reports, and evaluate the pricing plan and fees of each transaction. In addition to offering international transaction support, it offers a large selection of services and discounts for various trade association members.

Currently, Lloyds Bank Cardnet serves more than 50,000 merchants. It handles 1.1 billion transactions a year and £64 billion card sales every year. Though it is a major credit card processor in the industry, Lloyds Cardnet has a low number of complaints or poor reviews filed against it.


When it comes to marketing and advertising, Lloyds Cardnet does not promote any deceptive rates or promotions. It uses traditional advertising channel to market its products and services. With its association to a major bank, Lloyds Bank Cardnet also leverages its current customer base and its other partners in the industry to promote its services and build its customer base. Lloyds Banking Group is active on Twitter, using the platform to promote news and changes in the company and the industry. The site looked very professional, and it was easy to find information.


It doesn’t advertise any deceptive rates and it discloses all terms and conditions. Overall, we couldn’t find any overtly deceptive or misleading when looking at its materials. When talking to sales representatives, we found their explanations to be clear, confident, and trustworthy. Also, we found no complaints to the contrary of our experiences.


Lloyd Bank Cardnet uses and in-house sales team, and we found no evidence of it using independent sales agents (ISOs) or resellers. This is extremely positive because, when ISOs are used, you expect an organizations’ number of customer service complaints to rise, as well. There are plenty of reports floating in the digital space about resellers and ISOs using deceptive sales tactics and other misleading practices to gain customers. You often can expect to pay more when you work with a reseller because the primary service provider allows them to set their own prices. With all of these potential, we are pleased that Lloyd Bank Cardnet doesn’t take this route.


Lloyds Cardnet can be reached via phone, email, and by submitting a contact form. Also, it offers phone and email support to all of its customers. Also, it offers a thorough frequently asked questions section that is good resource for understanding your statement, using machines, and other important issues.


For a large organization, we found Lloyds Cardnet to be quite responsive. Emails were replied to the same day and phone calls went smoothly without a lot of transferring to other representatives.

Staff Interaction

We were pleasantly surprised by our interactions with Lloyds Bank Cardnet representatives. They were thoughtful, confident, and helpful when we discussed pricing and terms. They had a superior knowledge of their products and services. Though eager to move us forward to the next step, they were never aggressive or rude. We found their attitudes refreshing. Additionally, they spoke with confidence and we received consistent information several different sources.


Lloyds Bank Cardnet offers bespoke pricing based on business size, services required, and transaction volume, but it doesn’t disclose any of the information on its site. During our interactions, as well as other sources, we learned that those who already have Lloyds Bank business account get the most benefits. Terms include a flat 1.25% per-transaction fee on all debit and credit card transactions, a monthly minimum fee of £15.

If you don’t have a Lloyds business account, you can expect to pay a joining fee of £175, a monthly minimum fee of £25, and an authorization fee of 3p per transaction. A chargeback fee is £15. Your joining fee covers set up your account and includes a minimum 6-month agreement. Credit cards are charged as a percentage of the value of payments, and debit cards are charged as a pence or percentage for each transaction. You expect transaction rates between 1.5% to 3.5% depending on business size and transaction volume. Also, Lloyds Bank Cardnet charges a variable PCI compliance fee.

Early Termination Fees

Lloyds Bank Cardnet’s standard contract outlines a term of six months with an early termination fee of up to £200. The amount you pay to cancel early depends on the terms outlined in your “Merchant Specific Conditions,” according to its terms and conditions.

Hardware Costs

Lloyds Bank Cardnet offers Ingenico chip and pin machines with countertop, mobile, and portable solutions, as well as a variety of point-of-sale terminals from Clover.

Lloyds Bank Cardnet offers card machine rentals, but the costs associated with the equipment depends on the model you choose. The costs range between £15 and £24.95 per month, and the prices drop after 18 months. According to the merchant services provider, the card machine rental contract is usually longer than the minimum 6-month agreement term for merchant accounts. A typical minimum term for the card machine agreement can vary between 18 and 48 months.

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