Relationship Managed Service
We combine modern banking with a long-standing tradition of exceptional service, offering you the flexibility and choices you need to manage your finances effectively.
Children’s account: Island First Account
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.
Eligibility
The Island First Account is available for personal customers aged 17 or under who are resident in the Channel Islands or Isle of Man.
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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. |
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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) 2.75 |
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. 2.78 |
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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) 1.50 |
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. 1.51 |
For previous interest rate please contact your local branch.
Interest rate is variable.
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Sending funds
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 bankInternational 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
Service
Through Currency Internet Banking
Charges
Free
Service
Through International PhoneBank, in branch, or in writing
Charges
Free
Service
Through Standing Order
Charges
Free
Service
To your other accounts held with Lloyds Banking Group
Charges
Free
Service
Zone 1 (USA, Canada and Europe)
Charges
£12
Service
Zone 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
Service
CHAPS payment
Charges
£25
Cash withdrawals and deposits into the US Dollar Account and/or Euro Account:
Service
Charges
Service
Cash withdrawals and deposits
Charges
2% 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
Service
Recalling a payment
Charges
We can’t guarantee the cancellation as funds may already have been paid to the beneficiary.
Lloyds International doesn’t charge customers to recall a payment, but any return of funds may be subject to deductions in the form of:
- beneficiary bank or other institutions return payment fees
- foreign bank charges
- foreign exchange fluctuations.
Receiving funds
Electronic bank transfer from another financial institution:
Amount
Charges
Amount
Any amount
Charges
Free
Other standard services
Service
Charges
Service
Supplying copies of previous bank statements
Charges
Free
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.
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General terms and conditions (PDF, 384KB)
Account terms and conditions (PDF, 310KB)
Frequently asked questions
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The Island First Account can be opened with as little as £1.
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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.
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The Island First Account is available in Sterling only.
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Interest is paid four times a year on:
- 9 March
- 9 June
- 9 September
- 9 December.
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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.