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Island Client Account
If you manage funds on behalf of third parties, this current account is for you. Designed for businesses in Jersey, Guernsey and the Isle of Man.
These services are designed for businesses operating in the Channel Islands or the Isle of Man and are provided by Lloyds Bank Corporate Markets a wholly owned subsidiary of Lloyds Banking Group plc.
Information on services for businesses in the United Kingdom through Lloyds Bank plc.
Features and benefits
- Open an account with as little as £1.
- It’s simple to set up direct debits and standing orders.
- The account is available in Sterling.
- Overdrafts are not allowed on this account. This applies to authorised and unauthorised overdrafts.
Eligibility
To apply for an account you must be a sole trader, partnership, limited partnership or limited company trading in Jersey, Guernsey or the Isle of Man. The account is only available for you to hold client funds.
Interest rates
Current interests: interest rates are applicable March 2022
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Interest on credit balances (paid monthly) |
% Per annum Gross rateGross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law. Gross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law. |
% per annum AERAER:AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER - Annual Equivalent Rate - you can compare more easily what return you can expect from your savings over time. |
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Interest on credit balances (paid monthly) £1 + |
% Per annum Gross rateGross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law.Gross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law. 0.01 |
% per annum AERAER:AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advert for a savings product will contain an AER - Annual Equivalent Rate - you can compare more easily what return you can expect from your savings over time. 0.01 |