Lloyds Card Machine Review 2026: Cardnet Fees, Terminals, Contracts & Alternatives Quick answer
The Lloyds card machine (Cardnet) is worth comparing if you want an established bank-backed payment provider for regular in-person, online or telephone card payments.
Lloyds currently offers several very different payment options, including:
traditional rented business card machines
Clover POS terminals
a £199 pay-as-you-go Cardnet Terminal
a £49 mPOS card reader
Lloyds Accept mobile payments
online, payment-link and telephone payment services
This means Lloyds Cardnet can now suit a broader range of businesses than a traditional merchant-account provider alone.
Lloyds option Current published cost Best suited to
Castles Saturn
£23/month + VAT + tailored transaction fees
Businesses wanting a standard commercial card machine
Clover Flex
£21/month + VAT + transaction fees
Hospitality, retail and businesses wanting POS features
Cardnet Terminal
£199 upfront, no monthly fee, 1.75% per transaction
Lloyds business customers wanting simple PAYG pricing
mPOS
£49 first reader, no monthly fee, 1.75%
Small/mobile businesses
Lloyds Accept
No upfront or monthly cost advertised
Smaller businesses taking payments using a phone
Our view: Lloyds Cardnet is particularly worth comparing if you already bank with Lloyds, take cards regularly, or want Clover and broader merchant services. Very low-volume sellers should still compare simpler pay-as-you-go options.
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How do we work?
Transparent, impartial, and data‑driven reviews made by a team of expert humans, never AI generated – here’s exactly how Compare Your Business Costs helps you find the best deals from trusted UK providers: click here
Authored by: Ally Cox (Business Technology & B2B Services Specialist 10+ Years’ Experience)
Reviewed by: James Ward (Telecoms Specialist, 12+ Years Experience)
Last Updated: September 2026
Key Takeaways
Lloyds Cardnet supports in-person, online and over-the-phone payments.
The everyday Castles Saturn terminal currently costs £23/month + VAT plus tailored transaction fees.
Clover Flex currently costs £21/month + VAT plus transaction fees.
The Cardnet Terminal currently costs £199 upfront with no monthly fee and a fixed 1.75% transaction rate.
The mPOS reader currently costs £49 for the first device with no monthly fee and a 1.75% transaction rate.
Clover payments are typically received by 6pm on the next business day.
The standard Lloyds merchant-service pricing structure can include a £10 minimum monthly charge.
Card-not-present, international, gateway, refund and chargeback fees can add to the total cost.
Businesses processing over £100,000 in card turnover can request more tailored Lloyds options.
Compare total monthly cost rather than choosing Lloyds because you already bank with them.
Is Lloyds Cardnet Right for Your Business?
Lloyds could suit you if… Compare alternatives if…
You take card payments regularly
You only take occasional payments
You already bank with Lloyds
You want the absolute lowest-cost reader
You want a recognised bank-backed provider
You want one simple rate and no application process
You need in-person, online and phone payments
You only need basic mobile payments
You want Clover POS
You do not need POS/business-management features
You have £100k+ annual card turnover
You are a very low-volume side business
Lloyds Cardnet Fees 2026 Lloyds Cardnet now publishes much clearer pricing than many traditional merchant-service providers.
However, the pricing model depends on which product you choose.
Standard Lloyds Cardnet Pricing
For standard merchant-service customers, Lloyds pricing can include:
transaction fees
an authorisation fee
monthly device or gateway fees
a minimum monthly charge
additional fees for some payment types
Lloyds currently states a £10 minimum monthly charge for applicable Cardnet merchant-service customers.
Additional charges can apply for:
card-not-present transactions
international cards
online payments
payment links
refunds
chargebacks
payment gateways
Lloyds Everyday Card Reader: Castles Saturn The current everyday Lloyds business card reader is the Castles Saturn .
Lloyds currently lists it at:
£23 monthly rental + VAT tailored transaction fees
Wi-Fi connectivity
4G using an included SIM
up to 10 hours of battery life
It is designed as an out-of-the-box card reader for businesses that want a standard commercial payment terminal.
This will suit:
retail shops
cafés
salons
restaurants
service businesses
businesses taking regular card payments
Lloyds Clover Flex Lloyds also offers Clover POS systems through Cardnet and the portable Clover Flex currently costs:
£21/month + VAT + transaction fees.
A 4G SIM is optional at £10/month + VAT.
Clover Flex includes:
portable card payments
receipt printer
barcode scanner
Wi-Fi connectivity
optional 4G
around eight hours of battery life
business-management apps
Lloyds Clover Software Costs
The basic Payments Plus functionality is included, while additional Clover software plans currently include:
Plan Current cost
Payments Plus
Included
Essentials
£6.99 + VAT/month
Register
£39.95 + VAT/month
Extra-device charges can also apply.
This matters when comparing Lloyds against a basic card reader: Clover can do considerably more, but the software can increase the total monthly cost.
How Fast Does Lloyds Cardnet Pay Out? For Clover payments, Lloyds says payments are typically received by 6pm on the next business day .
That can be useful for:
hospitality
retail
businesses with tight cash flow
businesses taking substantial daily card sales
Settlement varies by product, however, so do not assume every Lloyds payment solution pays on the same schedule.
Lloyds Cardnet Terminal: £199 Pay As You Go Option This is one of the biggest current improvements to the Lloyds proposition, and the Cardnet Terminal currently costs:
£199 upfront £0 monthly fee 1.75% per transaction on major debit and credit cards
It connects using Wi-Fi or 4G and can take both face-to-face and over-the-phone payments.
However, there is an important restriction: Lloyds Bank or Bank of Scotland business account .
Lloyds mPOS Card Reader Lloyds also offers a smaller mPOS card reader – the cuurrent pricing is:
£49 for the first reader no monthly fee 1.75% transaction rate
It pairs with iOS or Android and can work through Bluetooth, Wi-Fi or mobile connectivity. Lloyds says funds are received within three working days.
This can be more relevant for:
sole traders
mobile businesses
market traders
small service businesses
lower-volume businesses
Lloyds Cardnet vs Pay-As-You-Go Readers
Lloyds rented terminal Lloyds PAYG Terminal/mPOS Typical PAYG competitor
Monthly cost
Yes
None
Usually none
Transaction rate
Tailored
1.75%
Usually flat rate
Upfront hardware
Usually rental
£49–£199
Usually hardware purchase
Best for
Regular turnover
Smaller Lloyds customers
Flexible/low-volume sellers
This means Lloyds should no longer be viewed only as a traditional contract-based merchant-services provider.
What Does Lloyds Cardnet Charge for Online and Remote Payments? Online and remote payment costs can differ substantially from in-person payments – for example, Lloyds currently publishes Pay by Link pricing including:
£0 joining fee
£10 + VAT monthly fee
10p + VAT per-link/click fee
separate transaction fees
Lloyds also offers QR-code payments with a different fee structure, including transaction, gateway and authorisation charges.
If your business takes a meaningful share of payments online or remotely, compare those fees separately rather than using the physical card-machine price as your benchmark.
Lloyds Cardnet Pros and Cons
Pros Cons
Major bank-backed provider
Merchant-service pricing can be complex
Multiple card-machine options
Some products have monthly rental
Clover POS available
Clover software can add monthly costs
PAYG options now available
Some PAYG products require a Lloyds/Bank of Scotland account
In-person, online and phone payments
Different channels can have different fees
Next-business-day Clover settlement
Settlement varies between products
Tailored pricing at higher turnover
Not as instantly comparable as Square/SumUp
Lloyds Cardnet vs Tyl by NatWest Lloyds is be worth comparing if:
you already bank with Lloyds
you want Clover POS
you want several different Cardnet payment routes
you want tailored pricing
Tyl is be worth comparing if:
you want another bank-backed provider
you prefer Tyl’s pricing structure
you already bank with NatWest
Do not choose solely based on your business bank account. Compare the complete payment cost.
Lloyds Cardnet vs Square Square is generally simpler; Lloyds provides a broader traditional merchant-services setup.
Lloyds Cardnet Square
Standard in-person rate
Tailored, or 1.75% on selected PAYG options
1.75%
Monthly rental
Depends on product
No standard processing subscription
POS
Clover
Square POS
Best for
Established/regular card turnover
Simple flexible payments
Lloyds Cardnet vs SumUp SumUp is generally simpler for lower-volume businesses, while Lloyds becomes more relevant where broader merchant services or Clover are required.
However, Lloyds’ newer PAYG options mean the difference is now less clear-cut than it used to be – a Lloyds mPOS reader charging 1.75% can now be compared much more directly with SumUp’s standard pay-as-you-go model.
Which Lloyds Card Machine Should You Choose?
Your requirement Lloyds option to compare
Standard everyday card payments
Castles Saturn
Portable POS and business tools
Clover Flex
Compact countertop POS
Clover Mini
Full hospitality/retail POS
Clover Station Duo
No monthly fee
Cardnet Terminal
Low-cost mobile reader
mPOS
Payments using a smartphone
Lloyds Accept
What Should You Check in a Lloyds Cardnet Quote? Before signing, ask for:
Your debit-card transaction rate.
Your credit-card transaction rate.
Commercial-card rates.
International-card rates.
American Express costs.
Authorisation fees.
Monthly terminal rental.
Minimum monthly charge.
PCI fees.
Gateway fees.
Card-not-present fees.
Chargeback/refund fees.
Settlement times.
Contract length.
Cancellation charges.
Clover software costs where relevant.
Then compare that total with your current effective processing rate.
See our card machine rate comparison if you want to benchmark the transaction percentage itself.
Our Verdict: Is Lloyds Cardnet Worth It? Lloyds Cardnet is a strong provider to compare for established UK SMEs, particularly businesses taking cards regularly or wanting Clover POS and broader merchant services – their product range is now more flexible than the old image of Cardnet as purely a traditional contract merchant service.
In 2026, you can choose between:
rented commercial terminals
Clover POS
a £199 no-monthly-fee terminal
a £49 mPOS reader
mobile-phone payments
online and remote payments
Our practical view:
Low card turnover → compare mPOS/Cardnet Terminal against SumUp and Square.
Regular SME turnover → compare Castles Saturn and tailored Lloyds pricing against Worldpay, Dojo, Tyl and takepayments.
Retail/hospitality needing POS → compare Clover against other integrated POS/payment platforms.
£100,000+ annual turnover → request tailored pricing rather than accepting an off-the-shelf rate.
Being an existing Lloyds customer can make Cardnet convenient, but convenience alone does not make it the cheapest provider.
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Frequently Asked Questions What is Lloyds Cardnet?
Lloyds Cardnet is Lloyds Bank’s merchant-services platform for taking card payments in person, online and over the phone.
How much does a Lloyds card machine cost?
The Castles Saturn currently costs £23/month + VAT plus tailored transaction fees, while Clover Flex costs £21/month + VAT plus transaction fees.
Does Lloyds offer a card machine with no monthly fee?
Yes. The current Cardnet Terminal costs £199 upfront and charges 1.75% per transaction with no monthly fee.
How much is the Lloyds mPOS reader?
The first mPOS reader currently costs £49 with no monthly fee and a 1.75% transaction rate.
What transaction rate does Lloyds Cardnet charge?
Traditional Cardnet transaction fees are tailored to the business. Lloyds also offers PAYG products charging a published 1.75% rate.
Does Lloyds Cardnet have a minimum monthly charge?
Lloyds currently states a £10 minimum monthly charge for applicable standard Cardnet merchant-service customers.
Does Lloyds Cardnet charge authorisation fees?
Standard merchant-service pricing can include an authorisation fee. Lloyds gives pricing examples that show this separately.
Does Lloyds Cardnet offer Clover?
Yes. Lloyds offers Clover Flex, Clover Mini, Clover Station Duo and associated business-management software.
How quickly does Lloyds Cardnet pay out?
Clover payments are typically received by 6pm on the next business day. Other Lloyds Cardnet products can have different settlement schedules.
Can Lloyds Cardnet take phone payments?
Yes. Lloyds supports telephone payments through products including the Cardnet Terminal and Virtual Terminal services.
Can Lloyds Cardnet take online payments?
Yes. Lloyds supports online payments, payment links, payment gateways and other remote-payment options.
Is Lloyds Cardnet cheaper than Square?
Not necessarily. Some Lloyds PAYG products also charge 1.75%, while traditional Cardnet pricing is tailored. Compare hardware, monthly costs and other fees as well as the percentage.
Is Lloyds Cardnet good for small businesses?
Yes, depending on payment volume. Lloyds now has both traditional merchant-service products and simpler PAYG options, although very small sellers should still compare SumUp, Square and similar providers.
Do you need a Lloyds business account for Cardnet?
Not for every Cardnet product, but the current £199 pay-as-you-go Cardnet Terminal is restricted to customers with a Lloyds Bank or Bank of Scotland business account.
What are the main Lloyds Cardnet alternatives?
Alternatives include Tyl by NatWest, Worldpay, Dojo, takepayments, Square, SumUp, Clover-based alternatives, Barclaycard and Elavon.
Related Card Machine Guides Compare Lloyds Cardnet Quotes
Hi, I’m Ally Cox , a senior copywriter and blogger at CompareYourBusinessCosts.co.uk, the UK’s trusted platform for comparing business services.over a decade of experience in the B2B sector, I specialise in simplifying complex topics like leased lines, VoIP, business energy, HR and payroll solutions, accounting software, and EPOS systems .HR, copywriting, and business operations- from clocking-in systems to card machines and office technology .informed, confident decisions when choosing products and services that improve efficiency and save money.
