Non-UK residents – saving with us whilst overseas
Frequently asked questions for customers saving outside of the UK
Does Lloyds offer savings accounts to customers who live outside of the UK?
No, however Lloyds Banking Group offers international banking services, including a range of savings products, to overseas customers through Lloyds Bank Corporate Markets plc.
This company is not required to be authorised under the Financial Services and Markets Act 2000 of the United Kingdom and therefore is not subject to the rules and regulations of the Financial Services Compensation Scheme made under that Act for the protection of depositors and investors.
These products and services are available in many countries but not all, due to legal or regulatory constraints, and are also subject to other eligibility criteria. For more information, visit Lloyds Bank International Banking.
What is your definition of a non-UK resident?
People who reside outside the UK (including the Isle of Man and the Channel Islands) are regarded as non-UK residents.
I am in the British Armed Forces posted overseas, am I a non-UK resident?
No. Crown Employees, e.g. British Armed Forces and UK Public Officials posted abroad, are defined as living in the UK.
Why can’t a non-UK resident apply for a new savings account with you?
We've made a strategic decision to mainly focus our resources in the UK. Among the considerations for that strategic decision are the varied legal and regulatory requirements that apply in each overseas jurisdiction.
I currently have a fixed term account. Can I move to another savings product during the current term?
No. By changing to another product, you would be taking out a new savings account. We only offer new savings accounts to UK residents.
What will happen if I do open a new savings account with you or change to another product?
As this falls outside our policy for customers living outside the UK, we’ll close the account and return any balance to you by sterling cheque.
I currently have a fixed term account. What can I do when my savings account matures?
When your savings account matures, you can’t renew your existing account. You can continue to save in the post-maturity product or move the money to another account that you already have with us.
Before your account matures, you’ll receive a maturity notification letter which will outline your options.
I currently have a variable rate account. Can I change to another product?
No. By changing to another product you would be taking out a new savings account. We only offer new savings accounts to UK residents.
Can I make withdrawals from my variable savings account?
Yes. In line with any terms and conditions that apply.
Can I make deposits to my variable savings account?
All deposits are subject to the account terms and conditions. Deposits are permitted to our savings accounts (including Junior ISAs), except fixed term deposits and ISAs.
I have an ISA. Can I make transfers to another current or savings account?
Yes, if you have a variable cash ISA you can make transfers to another current or savings account held with us. However, for only as long as it is allowed by the terms and conditions of the account.
As a non-UK resident, what impact does this have on children’s savings accounts?
The impacts on children’s savings accounts are the same as for any other, except for the Junior ISA account where an adult ISA may be opened when the child turns 18.
My savings account has been closed but I do not know why?
As you live outside the UK, this affects the way you can use your savings account. If you have opened a new savings account, transferred any existing savings accounts/term deposits to a new savings account, or changed the existing term or amount invested (other than by interest accrued) of a fixed term deposit at maturity, your account will have been closed and any balance returned to you by sterling cheque. A confirmation letter will have been sent to your primary address.
If you have not received the letter and need to get in touch, please visit our contact us page.
I have more than one savings account. Will you be closing my others?
Only new savings accounts will be closed.
As a non-UK resident, what correspondence will be sent to my overseas address?
You’ll continue to receive all correspondence (e.g. statements, notification letters, interest certificates, and cards), provided your overseas address is registered as your primary address with us.
My personal details are incorrect. How do I get my personal details updated?
If you need to update your details you can write to us, complete the change of address form and post it to Lloyds Bank, Box 1, BX1 1LT, call us on +44 (0) 1733 347 007 (lines are open 24 hours a day, 7 days a week). Or you can call into one of our branches, (if you are in the UK, we recommend you book an appointment).
If I have any more questions how can I get in touch?
You can call us if you have any more questions or would like to find out more about saving with us whilst overseas. To get in touch with any questions, visit our contact us page.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
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