Internet Saver important information
Internet Saver account Terms and Conditions
These terms and conditions apply to the Lloyds TSB Internet Saver account (‘Account’), and explain our obligations to you and your obligations to us (Lloyds TSB Bank plc or Lloyds TSB Scotland plc, whichever you hold your current account with).
Our Personal Banking terms and conditions also apply to this Account and give you important information about your relationship with us. It covers things like:
- How long it takes for payments in and out of your account.
- How we use your personal information.
- How we can change our rates and charges or other terms.
- How we deal with things if there’s a problem.
- How we operate a joint account.
Who can open an Account
- You must be a personal customer (16 or over), resident in the UK and have a current account with Lloyds TSB.
- You must open your account through Internet Banking.
- You can apply to open an Internet Saver Account with £1 (Minimum Opening Balance) or more.
- If two or more of you apply for an Account then we will open it as a joint account.
- You can only open one Internet Saver account (solely or jointly). If you already have an Internet Saver account you cannot open another one.
Deposits
You can add money to your Account:
- At one of our branches (cash or cheque).
- By standing order.
- By post – you can send cheques (not cash).
- By post, but we are not responsible if we do not get the payment or if there is a difference between what you say you sent and what we receive.
- By instructing us to transfer money from another of your accounts with us in writing, by phone, or electronically.
Withdrawals
- You can request withdrawals by phone or electronically. All withdrawals will be transferred to another of your accounts with us.
- The maximum amount you can move in or out of your Account in a single transfer online is limited. Contact us to find out what the current limits are, especially if you plan to make a large withdrawal.
Interest
- The rate of interest will vary depending on the amount invested in your Account.
- If the balance of your Account falls below £1 you will not receive interest. Interest will start to be paid again once your balance is restored above that limit.
- We will pay interest once a year unless you choose to receive it monthly when you complete the Account application. Yearly interest is paid on the anniversary of Account opening, and monthly interest on the same day of each month as the date of Account opening. If the interest payment date is not a working day, we will pay it on the next working day.
- We will pay interest by crediting it to your Account.
- You will find our current interest rates for the Account in our UK branches, online at www.lloydstsb.com or by phoning us on 0845 300 0032.
Charges
We do not make any charges for your Account.
Closing your Account
- There is no minimum duration for our Account and you may close the Account at any time by writing to your branch or phoning us. Where you have not told us in writing, we may require confirmation in writing.
- If you are not happy with your choice of Account we will help you switch to another of our accounts or we will give you all your money back with any interest it has earned.
