Island Future Account
If you have children aged between 11 and 17 who are looking for a bank account that's flexible and easy to use, then our Island Future account is ideal. It’s designed for customers in Jersey, Guernsey, Alderney and the Isle of Man.
Features and benefits
- You can pay in and take out money whenever you want at your local branch.
- You can apply for a Lloyds Bank International Cashpoint card so you can withdraw money from our cash machine.
- You can apply for a Lloyds Bank Contactless Debit card so you will be able purchase goods in shops and online.
- You can register to access your accounts on the internet via internet banking and the mobile app.
- Variable interest rate - interest is calculated on your balance daily and paid into your account twice a year without tax being deducted.
- Available in Sterling.
- When you are 16, standing orders and direct debits can be set up free of charge.
Eligibility
If you are a personal customer aged between 11 and 17 resident in the Channel Islands or Isle of Man you can open an Island Future Account.
Current interest rate
|
Interest on credit balances (paid half yearly) |
% per annum gross rateThe contractual rate of interest payable before deduction of income tax at the rate specified by law. |
% per annum AERAER rate stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year./variable |
|---|---|---|
Interest on credit balances (paid half yearly)£1+ |
% per annum gross rateThe contractual rate of interest payable before deduction of income tax at the rate specified by law.0.77 |
% per annum AERAER rate stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year./variable0.77 |
For previous interest rates, contact your local branch.
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Returned item
Where you do not have enough available money to make a payment and we do not agree to give you or extend an Unplanned Overdraft, you will not be able to make that payment.
We will write to tell you we have declined your request. We will not charge you a fee for this.
Using other servicesPlease note the information in this section applies to customers with sterling accounts only. Please contact us if you have a Euro account or US dollar account.
Service
Charges
Service
Stopped cheque
Charges
Free
Service
Special cheque presentation
Charges
£15
Returned cheque
Service
Charges
Service
If a cheque paid into your account is returned to us unpaid by another bank or branch.
Charges
Free
Statements
Service
Charges
Service
We will send you regular account statements free of charge.
Charges
Free
Service
If you order an extra statement at a Lloyds Bank Cashpoint.
Charges
Free
Service
Duplicate statements
Charges
£5 per request
Service
Banker’s draft/cheque (sterling)
Charges
£10
Service
Holding envelopes and parcels
Charges
This service is no longer available. Existing users please contact the branch:
Jersey: 01534 845436 or 01534 845269
Guernsey: 01481 706317
Isle of Man: 01624 697113
Alderney: 01481 822340Service
When we buy from you Sterling American Express or other currency travellers cheques which you bought from us.
Charges
Free
Service
When we buy travellers cheques or foreign currency from you.
Charges
1.5% (minimum £3)
Service
If you have a Premier or Executive Gold Debit Card.
Charges
Free
Service
If you have a Student or Graduate account.
Charges
Free
Service
When you buy foreign currency using a Lloyds Bank Premier, Platinum, Gold or Classic Credit Card.
Charges
Free
Cashpoint® and debit card chargesPlease note the information in this section applies to customers with sterling accounts only. Please contact us if you have a Euro account or US dollar account.
When you take out cash
Charges
When you take out cash
From Lloyds Bank Cashpoint
Charges
Free
When you take out cash
LINK machines.
LINK machines will give you an advance, on-screen warning about any charges that may apply. This warning will tell you who’s making the charge. You will then be given the option to continue or cancel the transaction.
Charges
Lloyds Bank does not levy a charge but the owner of the machine may.
When you take out cash
From non-LINK cash machines in the British Isles and worldwide displaying the Visa sign, or over the counter at another bank or any other outlet displaying the Visa sign.
Charges
Using your Lloyds debit card or Cashpoint® card
If you use your card to withdraw cash or make a payment in a currency other than sterling, the amount is converted to sterling on the day it is processed by Visa using the Visa Payment Scheme exchange rate on the day. We will charge you a non-sterling transaction fee of 2.99% of the value of the transaction. This is a fee for currency conversion. We will also charge you a non-sterling cash fee of £1.50, except for withdrawals of Euro inside the EEA where you will not be charged a non-sterling cash fee. Where you elect to allow the cash machine operator/financial service provider to make the conversion to sterling we will only charge a foreign cash fee of £1.50, except for withdrawals of Euro inside the EEA where you will not be charged a foreign cash fee. The provider of the foreign currency may make a separate charge for conversion.
The European Economic Area (EEA) means the countries in the European Union plus Iceland, Norway and Liechtenstein.
When you use your card to buy foreign currency:
Charges
When you use your card to buy foreign currency:
From our branches
Charges
No handling charge for foreign currency. We do not offer travellers cheques
When you use your card to buy foreign currency:
From any other bank, travel agent, bureau de change or other outlet displaying the Visa sign within the UK, Channel lslands and Isle of Man.
Charges
Using your Lloyds debit card or Cashpoint® card
Lloyds Bank does not make a charge but the provider of the foreign currency may make a charge.
All transactions abroad
Service
Charges
Service
Cash withdrawals and purchases made in a currency other than sterling (including those made online or on the phone) are also subject to:
Charges
Non-sterling transaction fee of 2.99% of the value of the transaction.
Service
Mini statements
Charges
Free
Service
Requesting a receipt
Charges
Free
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This product is designed for customers living in the Channel Islands or the Isle of Man.
Information on our current accounts for customers in the United Kingdom.
Frequently asked questions
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There is no minimum opening balance for the Island Future Account.
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That's completely down to you. There's no limit on how much you can hold in your account.
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The Island Future Account is only available in Sterling.
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You can access your money whenever you need to, either in branch, over the phone using PhoneBank or Internet Banking. If you're withdrawing cash from an ATM, there is a daily limit of £500.
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Cashpoint ® cards can be used at any machine showing the LINK badge and can be used to print mini-statements from some of our Cashpoint ® machines.
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Interest is paid twice a year on 9 of June and 9 December.
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If you need extra information, please call 03457 449900. Lines are open 8am - 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.Please visit our contact us page for the latest opening hours.
To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored. Call costs may vary depending on your service provider.
Whether you want to move to Lloyds Bank or you already bank with us and want to open a new Lloyds current account, switching is easy. Our team will do everything to ensure your switch runs smoothly, including transferring all your Direct Debits and standing orders to your new account for you.
You'll be able to switch your account to us at the end of your online application.
Here's how the process works:
- Working day 1
The switching begins.
We make contact with your old bank to arrange the switch.
- Working day 2
We’ll let you know your old bank has received your request. We then start transferring your payments to your new Lloyds Bank account.
- Working day 3-5
It’ll take a couple of days to switch over your payment arrangements, and make sure your Lloyds Bank account is ready to go for the switch date.
- Working day 6
If you’re clearing a debit balance at your old account, you’ll need to make sure there are enough funds in your Lloyds Bank account to cover the transfer.
- Working day 7
Congratulations, your switch is complete. Your balance is transferred and your old account is closed.
- After you switch
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
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We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
If there are any issues in making the switch, we will contact you before your switch date.
If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
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Read the account switching guide (PDF, 80KB)
