March 2020

Lloyds Bank
Customer Services
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Leicestershire
LE2 7LL

Changes to the terms and conditions on

your accounts
Please read the
Dear Mr Srayyih
enclosed
We’re making some changes to your current and savings accounts. I’ve summarised some of
the key changes below and included a guide with everything we’re changing and the dates
summary of
they will take effect. The guide includes: changes
• Using your accounts for overseas transactions – we're removing some of our charges for
euro payments and cash withdrawals inside the EEA.
How to get in touch
• Overdrafts – changes to how we display your available balance, how we charge for
arranged overdrafts and changes to text message alerts which can help you to manage Call 0345 300 0000
your money. Lines are open 7am to 11pm,
7 days a week.
• Changes to help protect you and your accounts - you’ll start to notice extra checks when
you’re shopping and banking online, and also when you're paying someone new to help you Visit us in branch
make sure your payments go into the right account. When you’re setting up a new payee
for certain payments, we’ll contact the payee's bank to check the name and other details
match and tell you if they don’t. Turn over for
• Internet Banking agreement - updates including the withdrawal of It's On Us.
more details
I’ve also included a list of your affected accounts on the back of this letter.

Make sure your accounts are still right for you Plus information about
You can get an updated copy of your current and savings account terms and conditions at
the Current Account
Switch Service
lloydsbank.com or ask in branch from 8 June 2020.

If you think the changes mean your current account no longer meets your needs, you can
contact us before this date to close your account without charge. If you decide to do this,
you’ll need to repay your overdraft balance, if you have one. If your savings account is a
payment account, and you prefer not to accept the changes, you can close your account at
any time without charge. If your savings account is a restricted savings account, this option to
close at any time without charge may not apply. Your account conditions will say if your
account is a payment or a restricted savings account. If we don’t hear from you by
8 June 2020, we’ll take this to mean you have accepted the changes.
To ask about other accounts, or if you have any questions about this letter, please contact us.

Yours sincerely

Martin Turner
Head of Personal Current Accounts

Your affected accounts

Account name Sort code Account number ending
Easy Saver 30-94-97 9168
Classic Account 30-94-97 0868

About the Current Account Switch Service

You can use the Current Account Switch Service to switch your current account from one bank or building
society to another in 7 days in a simple, secure and stress-free way. For more information please read the
Switching Current Account guide which can be found at lloydsbank.com/switch and FAQs at
www.currentaccountswitch.co.uk

If your vision is impaired – please contact us for an alternative

If you need
extra help format such as large print, Braille or audio CD.
If your hearing or speech is impaired – you can contact us using the Relay UK Service, or via Textphone on 0345 300 2281 (lines
are open 24 hours a day, 7 days a week). If you’re Deaf and a BSL user, you can use our SignVideo service at
lloydsbank.com/accessibility/signvideo.asp

If you need to make a complaint – you can visit your local branch or call 0800 072 3572 or 01733 462 267. Textphone
0800 056 7614 or 01733 347 500 if you have a hearing impairment. Find out more at lloydsbank.com/contactus
If you need
When you call us – your call may be monitored or recorded in case we need to check we have carried out your instructions
to tell us correctly and to help improve our quality of service. Not all telephone banking services are available 24 hours a day, 7 days a week.
something
Overdrafts – subject to application and approval and repayable on demand. This means we can ask you to
pay some or all of it back at any time.
Things
The Post Office® and Post Office logo – are registered trademarks of the Post Office Ltd.
you need
DepositpointTM – is a trademark of Lloyds Bank plc.
to know
Cashpoint® – is a registered trademark of Lloyds Bank plc
Mobile Banking Services – we don't charge you for Mobile Banking but your mobile operator may charge
you for some services, please check with them. Services may be affected by phone signal and functionality.
Mobile Banking services are only available to our UK personal Lloyds Bank customers and registration is
required. Terms and conditions apply.
Fair Lending – we adhere to The Standards of Lending Practice which are monitored and enforced by the
LSB: www.lendingstandardsboard.org.uk
Keeping your money protected – eligible deposits with us are protected by the Financial Services
Compensation Scheme. We are also covered by the Financial Ombudsman Service.

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.
This information is correct as of January 2020 and is relevant to Lloyds Bank plc products and services only.
Your summary of changes
All of these changes will take effect from 8 June 2020 unless we've said otherwise.

Everyday banking Everyday banking

Ordering statements online Save the Change

We’re making it clearer that you can also order your statements online, We’ve simplified some of the wording and added more detail about
as well as using a branch or calling us. what happens over the weekends and bank holidays. Before July 2018
when applying for Save the Change, you could nominate a savings
account that’s held by someone else, like a family member, to receive
Cheques your change. This is no longer available to new customers, or to
• We are updating the conditions to explain the changes to cheque existing customers wanting to change their nominated savings
processing. We process all cheques in pounds as images not paper, account.
this means cheques will now clear by 11.59pm on the next working
day. If you use our mobile banking app to send us a cheque, the
cut-off time is 10pm. Using a cash machine
• We’ve removed our special presentation cheque service and the We're adding wording to say that any cash you take out from either a
£10 fee for this, so this will no longer be in your terms and cash machine or Post Office®, will count towards your daily limit for
conditions. each. For example, the daily limit at a Post Office is £300, so if you take
out £100 from another cash machine, you'll only be able to take out
• We’re amending our conditions wording to make clear the
£200 from the Post Office that day.
difference between negotiating and collecting foreign cheques.

Changing references to LINK

Making the CHAPS fee clearer We are changing references to LINK cash machines to 'other cash
CHAPS payments can be processed either externally through the Bank machines' in our conditions.
of England or internally, and the same fee applies in each case. CHAPS
payments arrive the same day if you tell us on a working day before
4.25pm. Removal of fees
We will no longer charge fees for the following services:
Electronic payments • cancelling a cheque (was £10)
Electronic payments to your account from another Lloyds Bank • Banker's Draft in pounds & international drafts (was £20)
personal account in your name will show in your account on the same • Foreign currency cheques paid into your account (if they’re £100 or
day. You’ll be able to use the money on the same day too and it will less was £5, if more than £100 was 0.25% of the total pounds value,
also count towards any interest you pay or earn. minimum £8 to a maximum of £80)

Changes to the way we calculate interest on money in your Postal clearing time
account We’re making it clear that you should add another working day to our
From 6 April 2020, we’ll calculate interest you earn on money in your usual timescales if you send us a cheque or other instruction in the
account at the end of each day. Currently, we only take into account post.
your balance on working days to work out how much interest to pay
you and if it changes over a weekend or on another non-working day,
we don’t treat it as having changed until the next working day. When
the new way to calculate your interest takes effect, the interest on your
balance will be worked out at the end of every day.

Card Freeze
We’re changing our conditions to say that we can refuse to let a
transaction go through if you have applied a card freeze to stop those
transactions. For certain freezes there may be a delay between you
asking us to remove a freeze and you being able to make that type of
transaction again. We’ll let you know about this and the time it’ll take
to remove the freeze before you apply it.

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 Internet Banking Banking at a branch

Changes to the Internet Banking agreement Branch services and opening hours
• On 8 June 2020 we’ll be withdrawing the It’s On Us service. Eligible We’ve added some wording to explain that:
transactions made up to 7 June 2020 will continue to qualify for the
• some branches open in the evenings and weekends, but you may
prize draw. If one of your transactions is selected to be refunded,
not get all the services you’d normally get during our usual working
we’ll pay this into your account as usual.
day
• The Pay a Contact service is only available when you use our mobile
• some counter services may not always be available when branches
banking app. We’ve updated the terms and conditions to make this
are open
clearer.
• if you ask us to make a transaction for you after the standard cut-off
• We’ve updated the definition of mobile alerts in the Mobile Alerts
time, we'll treat this as being given to us on the next working day.
services conditions, to make clear that they only relate to the mobile
alerts services we offer and any service messages we send to your You can check with the branch you’d like to use, for all the details.
mobile phone or other devices. They don’t apply to alerts we are
required to send by law or a regulator, for example, those we send
Depositpoints™
when a customer is using an overdraft on a personal current
account. We're removing reference to Depositpoints from our conditions, as
these are for business customers.

Banking at a branch
Joint accounts
Banking at the Post Office®
We’re changing the conditions as you can now pay cash into your If you want to change the joint account holders, or want to authorise
account at a Post Office, using your debit card. The cash will show in someone else to operate the account, you must all agree to this.
your account, be available to use and affect any interest, on the same However, where a joint account holder is a victim of financial abuse we
day once you’ve received your receipt. may agree for them to be removed without the agreement of the
other account holder(s).
We’re also adding a new condition that when you pay cash into your
account at a Post Office the maximum single cash deposit is £1,000,
when using a paying in slip. We're changing the conditions to say that you will no longer be able to
add someone to a current account that is no longer offered to new
Each Post Office branch will have their own daily and weekly limits and
customers.
restrictions, including:
• the number and denomination of coins you can pay in for a single
deposit
• other single deposit limits if you use your debit card to pay in.
Please ask the Post Office you intend to use to check their limits and
Overdrafts
what their cut-off time is for accepting cash deposits for the method
you wish to use.
Changes to the way we charge
From 6 April 2020, new regulations mean that all banks will charge a
Mobile branches single interest rate for arranged overdrafts, so it's easier to compare
• You can now take out up to £500 a day in cash at mobile branches – overdraft costs. If you don’t already have an arranged overdraft with
or up to £1,500 if you order it 48 hours before. us, but you apply for one and are accepted, from 6th April, you will be
charged interest rather than a daily arranged overdraft fee.
• We’re also increasing the number of bags of coins that can be paid
in at a mobile branch each day. It used to be 5 bags, now it’s 10. If you have an arranged overdraft, we’ve written to tell you about these
• The maximum limit for sending money outside the UK or in a changes already.
foreign currency at a mobile branch is £100,000. This means we're changing all references to daily arranged overdraft
fees and fee-free amounts to instead refer to interest and interest-free
Branch deposits amounts. The interest rate we charge will be set out in your arranged
overdraft agreement and will be based on how you manage any
We no longer accept cash payments into your account from anyone accounts you hold with us and on the credit information we hold about
other than you. you.

The way we display your account balance is changing

From 6 April, we are changing the conditions to replace "available
funds" or "available balance" with an explanation of what this means.
We’ve also changed the way we display information on Internet
Banking, Mobile Banking and our cash machines to include a balance
that shows transactions you have made that have not yet been paid
from your account, these are called “pending transactions”. If you have
an arranged overdraft, any remaining amount will be shown
separately. You may see different information if you use your card at
other cash machines.

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 Using your accounts for
Overdrafts
transactions outside the UK
Interest and charges We made some changes on 13 December 2019 which means
We're removing reference in condition 9.4 to taking arranged that:
overdraft charges from one of your other accounts – we will always put
these charges on the account they belong to. If you use your card within the EEA or UK we're no longer
charging you:
We are changing condition 12.1 to say that we can also make
• a foreign currency cash fee of £1.50 when you take out euro at a
changes, for example to an arranged overdraft interest rate, if we think
cash machine or over the counter
that your ability to pay us back has changed. This may be based on
things that are personal to you like your account usage or information • a foreign cash fee of £1.50 when you choose to allow the cash
about your financial situation that we have or that we get from other machine operator or financial service provider to convert your
organisations such as credit reference agencies. withdrawal of euro into pounds
• a foreign currency purchase fee of £0.50 when you make a payment
in euro with your debit card - applies to certain debit cards only.
Text alerts
Since 18 December 2019, if we have your mobile number, we have If you use your card outside the EEA or UK we're no longer
been sending text messages to help you manage your balance and charging you:
minimise charges on current accounts. • a foreign currency cash fee/foreign cash fee of £1.50 when you take
out euro from a cash machine and the cash machine operator’s
We'll send arranged overdraft text alerts when: payment service provider is based in the EEA or UK.
• you're about to use or you've started using your arranged overdraft • a foreign currency purchase fee of £0.50 when you buy goods or
• we have started to charge you for using an arranged overdraft. services in euro with your debit card outside the EEA or UK and the
sellers’ payment service provider is based in the EEA or UK - applies
to certain debit cards only.
To stop these alerts text STOPA to 61112. To opt back in text STARTA to
61112.
From 19 April 2020 we're:
We'll send you unarranged overdraft text alerts when: • updating the terms and conditions to tell you that you can find
more information on our website about the exchange rates that
• you need to pay money in to cover a standing order
apply to your transaction to help you compare them with other card
• we refuse a payment issuers’ rates.
• you’re about to use or have started using an unarranged overdraft. • making it clear that the foreign currency transaction fee is for
converting currency.
To stop these alerts text STOPU to 61112. To opt back in text STARTU
to 61112.
Sending and receiving money outside of the UK or in a
You can stop all overdraft alerts by texting STOP to 61112 or to opt foreign currency
back in, text START to the same number. Stopping alerts may mean • When you want to send money outside the UK, or in a foreign
you miss important messages and incur avoidable costs. Your currency, this service is available to you in all branches, not just
preferences to opt in or out of alerts will be applied to all your current those that have a counter service.
accounts. You can check if we have a valid mobile number for you, or
• If you want to make a payment after the cut-off time, or on a
set one up, through Internet Banking, in branch or by calling us.
Saturday, Sunday or English bank holiday, we’ll treat your request as
To find out more please visit lloydsbank.com/alerts being received on the next working day.
Text message alerts are sent from 8am UK time, 7 days a week • You can send money outside the UK in most currencies, you can ask
including Bank Holidays. This is a free service for all eligible current us for more details.
account customers. We won’t charge you for this service, but if you Since 9 December we haven't been charging you £9.50 for sending an
receive texts while abroad or to a non-UK mobile number, your electronic payment in euros. And we’ve removed the £2 and £7 fee for
network service provider may charge you. electronic payments received from within the EEA in euros. We’re also
changing the conditions to say that for electronic payments received
From 8 June 2020 we'll no longer send you text message alerts when: from within the UK in foreign currencies other than euros, these fees
• you’re within £50 of using an arranged overdraft, if you have one will apply.
• you’re within £50 of using an unarranged overdraft. We have added to our conditions to explain how we deal with foreign
cash paid into your account.
From 8 June, you'll no longer be able to request an international draft.
Instead you can send money outside the UK by making an electronic
payment from your account.
We are changing the list of countries that make up the EEA to take
account of the UK's departure from the EU.

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 Changes to help protect you and
About us
your accounts
Confirmation of Payee (COP) is an extra check to help reduce Publishing interest rate changes
fraud and misdirected payments We are clarifying that we will publish interest rate changes on
We’ll do this in two ways: accounts with an interest rate that tracks an external reference rate,
like the Bank of England base rate, by published notice. We are also
1. When you set up a new payee to make certain payments, we’ll ask changing the definition of 'published notice' to reflect that we will no
the payee’s bank to check the name on the account matches the longer publish notice of changes to interest rates or other terms in
name you gave us. If the other bank is making COP checks, they will newspapers.
tell us if the name matches, doesn’t match or partially matches.
We'll let you know and if the name doesn’t match we'll ask if you
want to continue with the payment. We may not be able to get the
money back if the payment goes to the wrong account so it's
important you use the correct name on the account, the account
number and sort code when setting up the payee.
2. If someone sets you up as a new payee and their bank asks us to
check if your name matches, we will give information about you and
your account to them. This information can include your name; the
type of account you hold – personal or business and if your account
has switched to another bank. Make sure you give them the full
name on your account as well as your account number, sort code
and if it is a personal or business account.
For more information on how we can use your data, please see our
privacy notice including the “What if you want us to stop using your
personal information?” section, at lloydsbank.com/privacy

Be ready for extra checks when you shop and bank online
To make paying and banking online as safe as possible, you’ll notice
some new steps when shopping and banking online. Check we have
the right phone numbers for you, so we can text you a passcode to
your mobile, or call your landline to check it’s really you. If we can't
check, you may not be able to log into Internet Banking or shop online.
It’s easy to update your numbers – just log on, visit a branch or use our
mobile banking app.

Help protect yourself from fraud

We’ll do all we can to keep your money safe. That’s why we’ve signed
up to a new code to protect you from fraud scams. The code’s here to
keep your money safe, but it’s important you protect yourself too. Find
out more about this code at
lloydsbank.com/protectyourselffromfraud
Don’t assume letters, phone calls, emails or text messages are
genuine, even if they seem to know information about you – if
something doesn’t feel right, don’t go ahead.
We have also added an example to our conditions to show we may
refuse a payment if we believe it will help protect you from fraud
scams.
We are removing the wording “we will let you know if we are stopping
a payment for this reason” from the first bullet point in condition 5.4 as
we already explain this in the conditions – 5.5.

About us

We've updated the 'industry codes and memberships information' to

reflect that the British Bankers' Association, is now a part of UK
Finance and also to show that we're a member of the Banking
Standards Board.

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Your money is protected by the Financial Services Compensation Scheme
Basic information about the protection of your eligible deposits
Eligible deposits in Lloyds Bank plc are protected by: The Financial Services Compensation Scheme (“FSCS”)1
Limit of protection: £85,000 per depositor per bank2. The following trading names are part of your bank: Lloyds Bank, Mayfair Private
Banking, Lloyds Bank Private Banking and Scottish Widows Bank. Some savings accounts under the Charities Aid
Foundation brand name are also deposits with Lloyds Bank plc.
If you have more eligible deposits at the same bank: All your eligible deposits at the same bank are “aggregated” and the total is subject to the limit of £85,0002
If you have a joint account with other person(s): The limit of £85,000 applies to each depositor separately3
Reimbursement period in case of bank’s failure: 20 working days4
Currency of reimbursement: Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of
that State.
To contact Lloyds Bank plc for enquiries relating to your account: You can visit one of our branches, call us, go online or write to us at: 25 Gresham Street, London, EC2V 7HN
To contact the FSCS for further information on compensation: Financial Services Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London, EC3A 7QU
Tel: 0800 678 1100 or 020 7741 4100 Email: [email protected]
More information: http://www.fscs.org.uk

Additional Information
1
Scheme responsible for the protection of your eligible deposit – Your eligible 3
Limit of protection for joint accounts – In the case of joint accounts, the limit of £85,000
deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your applies to each depositor. However, eligible deposits in an account to which two or more
bank should occur, your eligible deposits would be repaid up to £85,000 by the persons are entitled as members of a business partnership, association or grouping of a
Deposit Guarantee Scheme. similar nature, without legal personality, are aggregated and treated as if made by a single
2
General limit of protection – If a covered deposit is unavailable because a bank is depositor for the purpose of calculating the limit of £85,000.
unable to meet its financial obligations, depositors are repaid by a Deposit Guarantee 4
Reimbursement – The responsible Deposit Guarantee Scheme is the Financial Services
Scheme. This repayment covers a maximum of £85,000 per bank. This means that all Compensation Scheme, 10th Floor Beaufort House, 15 St Botolph Street, London,
eligible deposits at the same bank are added up in order to determine the coverage EC3A 7QU. Tel: 0800 678 1100 or 020 7741 4100 Email: [email protected]. It will repay your
level. If, for instance a depositor holds a savings account with £80,000 and a current eligible deposits (up to £85,000) within 20 working days until 31 December 2018; within 15
account with £20,000, he or she will only be repaid £85,000. working days from 1 January 2019 until 31 December 2020; within 10 working days from 1
This method will also be applied if a bank operates under different trading names. January 2021 to 31 December 2023; and within 7 working days from 1 January 2024
Lloyds Bank plc also trades under those trading names detailed above. This means onwards, save where specific exceptions apply.
that all eligible deposits with one or more of these trading names are in total covered Where the FSCS cannot make the repayable amount available within 7 working days, it will,
up to £85,000. from 1 June 2016 until 31 December 2023, ensure that you have access to an appropriate
In some cases eligible deposits which are categorised as “temporary high balances” amount of your covered deposits to cover the cost of living (in the case of a depositor
are protected above £85,000 for six months after the amount has been credited or which is an individual) or to cover necessary business expenses or operating costs (in the
from the moment when such eligible deposits become legally transferable. These case of a depositor which is not an individual or a large company) within 5 working days of a
are eligible deposits connected with certain events including: request. If you have not been repaid within these deadlines, you should contact the
Deposit Guarantee Scheme since the time to claim reimbursement may be barred after a
a. Certain transactions relating to the depositor’s current or prospective only or main certain time limit. Further information can be obtained under http://www.fscs.org.uk
residence or dwelling;
Other important information – In general, all retail depositors and businesses are covered
b. A death, or the depositor’s marriage or civil partnership, divorce, retirement, by Deposit Guarantee Schemes. Exceptions for certain deposits are stated on the website
dismissal, redundancy or invalidity; of the responsible Deposit Guarantee Scheme. Your bank will also inform you of any
c. The payment to the depositor of insurance benefits or compensation for criminal exclusions from protection which may apply. If deposits are eligible, the bank shall also
injuries or wrongful conviction. More information can be obtained under confirm this on the statement of account.
http://www.fscs.org.uk

Financial Services Compensation Scheme exclusions list

A deposit is excluded from protection if:
1. The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank.
2. The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering.
3. It is a deposit made by a depositor which is one of the following: credit institution, financial institution, investment firm, insurance undertaking, reinsurance undertaking, collective
investment undertaking, pension or retirement fund1, public authority, other than a small local authority.
For further information about exclusions, refer to the FSCS website at www.FSCS.org.uk
1
Deposits by personal pension schemes, stakeholder pension schemes and occupational pension schemes of micro, small and medium sized enterprises are not excluded.

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
This information is correct as of January 2020 and is relevant to Lloyds Bank products and services only.