Bringing banking to you
A financial wellbeing service for employees of local businesses
Save money regularly with no withdrawal penalties.
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.
Earn 5.75% Gross / AER fixed on balances of £1 or more for 12 months.
Your interest is paid 12 months after you open the account.
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 |
---|---|
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 |
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
Service |
Charges |
---|---|
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 £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 |
---|---|
Amount Any amount |
Charges Free |
Cheque collections:
Amount |
Charges |
---|---|
Amount Cheques up to £100 |
Charges £5 |
Amount Cheques of £100 and above |
Charges 25p 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 |
---|---|
Amount Cheques up to £100 |
Charges £5 |
Amount Cheques of £100 and above |
Charges 25p per £100 (minimum £15, maximum £80 per cheque) |
Amount Cheques in a foreign currency drawn in a different country (not UK) For example : US Dollars drawn in France |
Charges As 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 |
---|---|
Amount Cheques in the same currency as the account |
Charges £2 per cheque |
Amount Cheques requiring currency conversion |
Charges £4 per cheque |
Service |
Charges |
---|---|
Service Supplying copies of previous bank statements |
Charges Free |
Earn 5.75% gross / AER fixed on balances of £1 or more for 12 months.
Your interest is paid 12 months after you open the account.
No. This account has a fixed rate of interest so the rate won't change during the term.
For example, if you deposit £400.00 every month for 12 months you will have a balance of £4944.00 after interest is paid.
This assumes you deposit £400.00 in the middle of each month and you don’t withdraw any money or interest.
Interest is calculated each day. As your balance is lower at the start of the term and grows after each monthly deposit, your daily interest calculation also slowly increases. At the end of the term your interest is added into your savings account.
Opening this account
This account can be opened and managed:
You can open this account if you:
You can save £25 - £400 every month by one standing order or a bank transfer. This needs to reach your account before the 25th of the month.
You can also make a bank transfer to top up your savings as long as the total amount of your deposits does not exceed the monthly limit of £400. The amount that you save each month can vary but needs to stay between the £25 to £400 monthly limit.
When you can open another Island Monthly Saver
You can only open one Island Monthly Saver every 12 months.
If you close the account within 12 months of opening it, you won’t be able to open another one until after the anniversary date.
If you keep your account open, after 12 months you’ll receive your interest and the account will change to an Island Standard Saver Account. You can then open a new Island Monthly Saver and save for another 12 months. Once you have opened your next Island Monthly Saver we’ll send you the sort code and account number.
You will need to set up a new standing order to this Island Monthly Saver. This needs to be between £25 and £400 each month. Remember to cancel your old standing order unless you want to keep saving into the Standard Saver.
Yes. You can make as many withdrawals as you like and there are no charges for doing so. You can transfer money out of the account online, but only to another Lloyds Bank account.
Bear in mind you may not be able to replace what you withdraw. This is because of the monthly deposit limits.
After 12 months the account will change to an Island Standard Saver. Before this happens, we'll contact you to explain your options and next steps.
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
GROSS RATE – Gross rate means we will not deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to your appropriate tax authorities.
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.