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Leaving Lloyds Cardnet

How to Cancel a Lloyds Cardnet Card Machine Contract

Lloyds Bank (Cardnet) is one of the providers bound by the regulator's 18-month limit on first terms and one month's notice after it. Under the regulator's rules, its first term can be no longer than 18 months for businesses with up to £10 million in card takings, then it rolls monthly with one month's notice. Check your agreement for the start date, notice and exit fee, give notice in writing, and have your new machine installed before the old one goes.

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What Lloyds Cardnet says

  • -Lloyds Bank (Cardnet) is one of the providers bound by the regulator's 18-month limit on first terms and one month's notice after it. source
  • For businesses with up to £10 million a year in card takings, a card machine contract with a minimum term from one of the directed providers can run for no more than 18 months at first.
  • After that first term, the contract must become a rolling one-month contract with one month's notice on your side.
  • Any exit or termination fee must be based on cost, be transparent and be explained to you before you sign.

Step by step

  1. Find your Cardnet merchant agreement and terminal agreement.
  2. Check the start date: the first term can be no longer than 18 months, then it rolls monthly.
  3. Read the termination clause for notice and any exit fee.
  4. Give notice in writing and keep proof.
  5. Arrange the return of any rented terminal.

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Before you give notice

  • Find both agreements. Many businesses have two: the merchant (card processing) agreement and a separate terminal hire or rental agreement. Each can have its own term and its own notice.
  • Find the start date and the first term. The first term is the minimum you agreed to. With the larger providers it can be no longer than 18 months for businesses with up to £10 million in card takings (Payment Systems Regulator).
  • Check what happens after the first term. With those providers it must then roll month to month with one month's notice. Look for any automatic renewal wording and the date you must act by.
  • Read the exit fee clause. Note how any early exit fee is worked out. The regulator requires it to be cost-based and explained before you sign.
  • Check the terminal. Is it hired, rented or yours? A hired terminal goes back; ask how, and get a receipt.

Questions

Is there a fee to leave Lloyds Cardnet?

It depends on where you are in your contract. Lloyds Bank (Cardnet) is one of the providers bound by the regulator's 18-month limit on first terms and one month's notice after it. Your own agreement has the exact terms.

Can I keep taking cards while I switch?

Yes. Have the new machine installed and tested first, then give notice on the old one. Flatpay installs and sets up its terminal on site.

Can Lloyds Cardnet hold me to a long contract?

Not beyond 18 months for the first term if your card takings are up to £10 million a year. After that it must roll monthly with one month's notice (Payment Systems Regulator, Specific Direction 16).

Leaving another provider

More card machine guides

Sources, last checked 21 October 2026

Facts about Flatpay come from Flatpay's own website; to get a quote, use the form on this page.

psr.org.uk (sd16 limiting the length of initial term), psr.org.uk (psr finalises plans to help businesses s)

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GetBrent is an independent UK directory. We work with Flatpay and may receive a fee if you sign up through this page; that does not change the facts shown, which come from each provider's own website or the regulator, checked 21 October 2026. Terms change, so check your own agreement.

How to Cancel a Lloyds Cardnet Card Machine Contract | GetBrent