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A financial wellbeing service for employees of local businesses
Help your child learn how a bank account works with our straightforward savings account for children aged 17 or under. Open with as little as £1.
This product is designed for customers living in the Channel Islands or the Isle of Man and is provided by Lloyds Bank Corporate Markets plc a wholly owned subsidiary of Lloyds Banking Group plc.
Information on our savings accounts for customers in the United Kingdom.
The Island First Account is available for personal customers aged 17 or under who are resident in the Channel Islands or Isle of Man.
Interest on credit balances (paid quarterly) |
GrossGross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law. interest rate % (variable) |
AER %AER: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. |
---|---|---|
Interest on credit balances (paid quarterly)£1 - £20,000 |
GrossGross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law. interest rate % (variable)3.25 |
AER %AER: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.3.30 |
Interest on credit balances (paid quarterly)£20,000+ |
GrossGross rate:The contractual rate of interest payable before deduction of income tax at the rate specified by law. interest rate % (variable)1.75 |
AER %AER: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.1.76 |
For previous interest rate please contact your local branch.
Interest rate is variable.
International moneymover service:When making an International Payment there are two charging methods:Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges.
Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you hold. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank
Service |
Charges |
---|---|
ServiceThrough Currency Internet Banking |
ChargesFree |
ServiceThrough International PhoneBank, in branch, or in writing |
ChargesFree |
ServiceThrough Standing Order |
ChargesFree |
ServiceTo your other accounts held with Lloyds Banking Group |
ChargesFree |
Service |
Charges |
---|---|
ServiceZone 1 (USA, Canada and Europe) |
Charges£12 |
ServiceZone 2 (Rest of the world) |
Charges£20 |
For the purposes of the Correspondent Bank Fee, Europe is defined as all EEA countries plus Jersey, Guernsey, Isle of Man, Monaco, San Marino and Switzerland.
Electronic Funds Transfer (CHAPS payments within the British Isles):
Service |
Charges |
---|---|
ServiceCHAPS payment |
Charges£25 |
Cash withdrawals and deposits into the US Dollar Account and/or Euro Account:
Service |
Charges |
---|---|
ServiceCash withdrawals and deposits |
Charges2% on the Sterling equivalent of each currency, minimum £3 per currency and £10 administration fee. These accounts are not designed to be used for receipt of notes or coins. If you need this service, please contact your International Banking Team. |
Recalling a payment:
Service |
Charges |
---|---|
ServiceRecalling a payment |
Charges£20 per payment. We cannot guarantee the cancellation as funds may already have been paid to the beneficiary. You could receive less than the original amount of the payment, due to adverse exchange rate movements. |
Electronic bank transfer from another financial institution:
Amount |
Charges |
---|---|
AmountAny amount |
ChargesFree |
Cheque collections:
Amount |
Charges |
---|---|
AmountCheques up to £100 |
Charges£5 |
AmountCheques of £100 and above |
Charges25p per £100 (minimum £15, maximum £80 per cheque) |
Cheque negotiation to Sterling account:The correspondent bank may also levy a charge based on the value of the cheque.
Amount |
Charges |
---|---|
AmountCheques up to £100 |
Charges£5 |
AmountCheques of £100 and above |
Charges25p per £100 (minimum £15, maximum £80 per cheque) |
AmountCheques in a foreign currency drawn in a different country (not UK) For example : US Dollars drawn in France |
ChargesAs above, but minimum £10 per cheque. |
Cheque negotiation to currency account:The correspondent bank may also levy a charge based on the value of the cheque.
Amount |
Charges |
---|---|
AmountCheques in the same currency as the account |
Charges£2 per cheque |
AmountCheques requiring currency conversion |
Charges£4 per cheque |
Service |
Charges |
---|---|
ServiceSupplying copies of previous bank statements |
ChargesFree |
Correspondent bank fee:When making an International Payment there are two charging methods:Split Charges: Recipient and Correspondent banks abroad may charge a fee for receiving payments which will be paid by the recipient if you choose to share charges.Pay all Charges: A Correspondent Bank Fee will be payable for international payments where you choose to pay the charges for the recipient, if you are permitted to do so based upon the destination of the payment and the type of account that you hold. The Correspondent Bank Fee replaces all Correspondent bank charges. The recipient bank may still charge its customer a fee but we cannot provide information about such a fee. The amount of the Correspondent Bank Fee depends on the location of the recipient bank
General terms and conditions (PDF, 384KB)
Account terms and conditions (PDF, 310KB)
The Island First Account can be opened with as little as £1.
That's completely down to you. There's no limit on how much you can hold in your account. So whether your child is simply putting away their weekly pocket money or saving their birthday cash gifts, the Island First Account is a great way to get started.
The Island First Account is available in Sterling only.
Interest is paid four times a year on:
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.
Use our contact form or call us to make an appointment.
See how else we can help you save.
Find your local team in Jersey, Guernsey or the Isle of Man and arrange a visit.