Island Premier Account

A current account available to residents in the Channel Islands and Isle of Man with an individual income of £60,000 or joint income of £80,000 or free investible assets (cash) in excess of £100,000.

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Features and benefits

  • £1 minimum opening deposit​.
  • £15 monthly fee unless you maintain a cleared balance of £5000, in which case no account fee is charged.
  • Free international transfers (correspondent and recipient bank charges may apply)​.
  • Access to internet banking and mobile app​.
  • Contactless Visa debit card.​
  • Cheque book available​.
  • Standing order and Direct Debit facilities​.
  • Move your existing account easily from another bank or building society.
  • Discount available on AA European Breakdown cover (this requires an application to be made directly with the AA).

Plus

  • Worldwide Travel Insurance up to 62 days per trip (subject to eligibility). All cover ceases on the account holders’ 80th birthday.
  • Reduced mortgage valuation fee.

For more details on who provides these account benefits, see our frequently asked questions.

Switch your account

Move your existing account easily from another bank or building society.​

Bank with us

Need overdraft help?

To discuss further support with your arranged overdraft please contact us.

Contact us

Eligibility

The Premier Account is available to residents in the Channel Islands and Isle of Man only with an individual income of £60,000 or joint income of £80,000 or free investible assets in excess of £100,000. Applicants must be aged 18 years or above.

Interest rates

Island Premier Current Account - Current interest rate 0.00%.

Overdraft Interest rates

Island Premier Current Account - from 29 October 2021

Arranged and Unarranged overdraft debit balances (paid monthly)

Interest rate - % per month

Equivalent Annual rate (EAREAR stands for Equivalent Annual Rate. EAR quoted includes the effect of compound interest (charging interest on your interest) and does not take into account any fees if applicable.)/ Annual Percentage Rate (APRAPR stands for Annual Percentage Rate which represents the total cost of borrowing over a year, including both interest (non-compound) and any fees if applicable on an assumed debit balance of £1,200 over a full 12 month period.) - % yearly

Arranged and Unarranged overdraft debit balances (paid monthly)

£251 – £5,000

Interest rate - % per month

1.13

Equivalent Annual rate (EAREAR stands for Equivalent Annual Rate. EAR quoted includes the effect of compound interest (charging interest on your interest) and does not take into account any fees if applicable.)/ Annual Percentage Rate (APRAPR stands for Annual Percentage Rate which represents the total cost of borrowing over a year, including both interest (non-compound) and any fees if applicable on an assumed debit balance of £1,200 over a full 12 month period.) - % yearly

14.43 / 28.56

Arranged and Unarranged overdraft debit balances (paid monthly)

£5,001 – £10,000

Interest rate - % per month

0.96

Equivalent Annual rate (EAREAR stands for Equivalent Annual Rate. EAR quoted includes the effect of compound interest (charging interest on your interest) and does not take into account any fees if applicable.)/ Annual Percentage Rate (APRAPR stands for Annual Percentage Rate which represents the total cost of borrowing over a year, including both interest (non-compound) and any fees if applicable on an assumed debit balance of £1,200 over a full 12 month period.) - % yearly

12.16 / 26.53

Arranged and Unarranged overdraft debit balances (paid monthly)

£10,001

Interest rate - % per month

0.93

Equivalent Annual rate (EAREAR stands for Equivalent Annual Rate. EAR quoted includes the effect of compound interest (charging interest on your interest) and does not take into account any fees if applicable.)/ Annual Percentage Rate (APRAPR stands for Annual Percentage Rate which represents the total cost of borrowing over a year, including both interest (non-compound) and any fees if applicable on an assumed debit balance of £1,200 over a full 12 month period.) - % yearly

11.77 / 26.18

Total charge for credit

29.43%

The ‘Total Charge for Credit’ rate is an indicative rate assuming a debit balance of £1,200 over a full 12 month period including interest, the effect of compound interest (charging interest on your interest) on your debt and any fees if applicable.

What is Annual Equivalent Rate (AER)AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded twice 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.

Open an Island Premier Account

Sole customer?

Apply online and we will contact you if we need further information.

Apply now

Joint customer?

Contact us to arrange an appointment in branch.

Make an appointment

More information

If you would like to find out more about this account. Visit us in branch or use the contact form to make an appointment.

Make an appointment
  • Avoiding overdraft interest charges

    If your account goes over its limit you have until 2.30pm (UK time) to pay in money to ensure the payment goes out, but you have until midnight to avoid any interest.

    • If you pay in enough to clear your overdraft you will not pay any interest.

    The money needs to be immediately available to use, so you could transfer money from another personal account you have with us via Internet Banking or Telephone Banking or pay in cash over the counter in branch.

    We will not charge you any other fees for an Arranged Overdraft but you will normally be charged interest on the amount borrowed.

    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 services

    For customers with sterling accounts only:Please 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

    Free

    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 822340

    Travel facilities

    Service

    Charges

    Service

    When you buy foreign currency from us.

    Charges

    Free

    Service

    When we buy from you Sterling American Express or other currency travellers cheques which you bought from us.

    Charges

    Free

    Service

    When we buy other 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

    When you buy foreign currency using a Lloyds Bank Premier, Platinum, Gold or Classic Credit Card.

    Charges

    Free

    Cashpoint® and debit card charges

    For customers with sterling accounts only:Please 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 withdraw cash in the UK, Channel Islands or Isle of Man (whether at an ATM or over the counter):

    Service

    Charges

    Service

    Using your debit card or Cashpoint® card at a Lloyds Bank Cashpoint® machine or branch in the UK, Channel Islands or Isle of Man.

    Charges

    Free

    Service

    Using your debit card at a non-Lloyds Bank Cashpoint® machine or non Lloyds Bank branch in the UK, Channel Islands or Isle of Man.

    Charges

    Lloyds Bank does not make a charge but the owner of the machine may. If so, the machine will show you the amount and tell you that it will be taken from your account when you withdraw the cash.

    When you use your debit card to purchase foreign currency in the UK, Channel Islands or Isle of Man:

    Service

    Charges

    Service

    From Lloyds Bank branches.

    Charges

    Foreign currency: free. We do not offer traveller cheques.

    Service

    From any other banks, travel agents, bureau de change and outlets displaying the Visa sign.

    Charges

    Lloyds Bank does not make a charge but the provider of foreign currency may make a charge.

    When you withdraw cash in a currency other than sterling (whether at an ATM or over the counter):

    Service

    Charges

    Service

    Using your Lloyds debit card or Cashpoint® card

    Charges

    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.

    When you use your debit card to make a purchase or other transaction (not cash withdrawal, foreign currency or travellers cheque purchase) in a currency other than sterling whether you are in the UK, Channel Islands, Isle of Man or abroad:

    Service

    Charges

    Service

    Using your Lloyds Bank debit card.

    Charges

    If you use your card to 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.

    The European Economic Area (EEA) means the countries in the European Union plus Iceland, Norway and Liechtenstein.

    Administration fees

    We’ll be happy to respond when you ask us for help with managing your day-to-day banking – at no charge.

    But, if we have to spend a significant amount of time on a specific area, then, like professional advisers, we may charge a fee. If this seems likely, we will agree it with you before you are committed.

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

  • There is a £1 minimum opening deposit and a £15 monthly fee unless you maintain a cleared balance of £5,000, in which case no account fee is charged. You must also meet eligibility criteria.

  • £15 monthly fee unless you maintain a cleared balance of £5,000, in which case no account fee is charged.

  • That's completely down to you. There's no limit on how much you can hold in your account.

  • The Island Premier Account is only available in Sterling.

  • You can move your existing account easily from another bank or building society.

    Once your account is open, we will transfer everything safely and securely in 7 working days, with the Current Account Switch Service.

    The Current Account Switch Guarantee (PDF, 32KB)

    Read the Current Account Switch Service Guide (PDF, 73KB)

    Click here for answers to some frequently asked questions about the service

    Switch guarantee logo.
  • 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 £800.

  • Yes, you can use Mobile Banking with your Island Premier Account.

    With Mobile Banking you can check your balances, pay bills, deposit cheques, transfer money and make international payments all from your smartphone.

    To start using Mobile Banking, set up internet banking for your account and download our Mobile Banking app.

    Find out more about Mobile Banking

  • If you go overdrawn by £10 or less on your Island Premier Account, there are no overdraft charges to pay.

    An interest free overdraft of £250 is available on this account. You need to apply for this in advance and we need to approve it.

    If your account goes over its limit, you’ll have until 2.30pm (UK Time) to pay money into your account to ensure the payment goes out, but you have until midnight to avoid overdraft interest. The money needs to be immediately available to use, so you could transfer money from another personal account you have with us via Internet Banking or Telephone Banking or pay in cash over the counter in branch.

  • If you have an Island Premier Account you can apply for a personal loan. Lending is subject to status. Terms and conditions apply.

  • We only offer travel insurance products from a single company, underwritten by AWP P&C SA and administered by Allianz Assistance which is a trading name of AWP Assistance UK Ltd. We do not provide advice on travel insurance and we will not make comparisons with other similar products including those which you may currently hold. You will need to make your own choice about how to proceed.

    The account comes with:

    • discounted European breakdown cover provided by the AA.
  • If you need extra information, please call 03457 449900. Our automated services are available 24/7.  If you need to speak to an adviser not all Telephone Banking services are available 24 hours a days, seven days a week.

    Contact us for contact numbers and opening times which may vary depending on the service that you require.

    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.

  • A debit card is a payment card that allows you to make transactions online and in shops for any number of goods and services, and takes payment directly from your bank account. Millions of people use debit cards, and you get one with most Lloyds Bank International current accounts.

    With a debit card, you can:

    • book or buy online, in shops, or over the phone
    • take out money from any Cashpoint® in the Islands, or cash machines around the world
    • use your card worldwide, whenever you see the Visa symbol
    • call us 24 hours a day if you have a problem with your Lloyds Bank International debit card.
  • Many debit cards are now contactless, which makes paying for everyday things even easier.

    Contactless cards allow you to pay for goods up to £100 without needing to enter your PIN. Many shops, restaurants, and businesses have contactless reader devices which make transactions faster and smoother. Millions of people use contactless debit cards.

    Most contactless payments will appear in the main section of your online statement within a few days. However, some transactions may show first in the ‘View pending transactions’ section.

    Please note: Not all Contactless Card transactions appear immediately on your Online & Mobile Banking statements. If you can’t see a transaction please wait a few days for it to be added to your statement.

  • Contactless is a way of making paying for things swifter and simpler. If you have a contactless card and are paying for something in a shop, restaurant, or business that has a contactless reader, all you need to do is hold your contactless card over the reader to pay. If the price is under the threshold which is currently £100, you don’t need to even enter your PIN.

    The first time you use your contactless card for a transaction, you’ll need to enter your PIN. Once you've done that, all future transactions under threshold can be contactless. You need to hold your card very close to the reader (around 2 – 4 centimeters) for it to work. If the price of the transaction is over £100, you will need to key in your PIN as normal.

    For added security, every now and again you might be asked to enter your PIN for transactions under the threshold. This is likely to happen if you make several contactless transactions in a row.

    How to use contactless:

    1.  Look for the contactless symbol when paying.
    2. Simply touch your contactless card against the reader.
    3. A beep or green light shows your payment is being processed.
    4. Your payment is approved.
  • All contactless cards have the contactless symbol on them. The symbol is four curved lines radiating rightwards (a lot like a Wi-Fi symbol turned on its side). It looks like this:

    Contactless logo - illustration of a hand holding a bank card over the contactless logo. The logo has four curved lines which mimics a soundwave and is within an oval shape.

    If you have this symbol on the front of your debit card, you can start using the contactless method as described above.

  • Yes, whether you have an Apple or Android device you’ll be able to register your Lloyds Bank International cards with Apple Pay or Google Pay respectively. Some device and card restrictions may apply.

    Apple Pay and Google Pay are convenient ways to pay with your Lloyds Bank International debit or credit card. Using the latest contactless technology, it's a simple, secure way to make everyday payments with your mobile device.

    Your card details won’t be stored on your device or sent to merchants, so your information stays private and secure.

    Choose from the options below to find out more and get started.

    Find out more about Apple Pay

    Find out more about Google Pay

  • For previous interest rates please contact your local branch.

Switch to Lloyds Bank International

Switch your current account to us in just 7 working days, using our stress free process.

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.

Get in touch to apply

  • 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.

    Current Account Switch Guarantee logo - Current Account Switch Guarantee logo in text with an upwards black arrow.
    Crystal Mark logo - diamond illustration and the text says 'Crystal Mark 20785, Clarity approved by Plain English Campaign'.

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Use our contact form or call us to make an appointment.

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